The global Endocrine therapy drugs (ETDs) market is estimated to be valued at US$ 30434.86 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Endocrine therapy drugs are primarily used in the treatment of hormone-related cancers such as breast cancer and prostate cancer. They help curb the production or level of hormones like estrogen and progesterone in the body, which fuels the growth of cancer cells. ETDs include selective estrogen receptor modulators (SERMs), aromatase inhibitors, and gonadotropin-releasing hormone (GnRH) agonists. They provide effective treatment options with fewer side effects compared to chemotherapy. The market is driven by the rising incidence and prevalence of breast, prostate, and endometrial cancers worldwide. According to WHO, these cancers account for over 2 million new cases annually. Increasing awareness regarding early detection and screening is also boosting the adoption of ETDs.
Market key trends:
One of the key trends in the ETDs market is the shift towards combination therapies. Combining ETDs with other targeted drugs is becoming a preferred treatment approach over monotherapy due to better outcomes. For instance, combining an aromatase inhibitor with a CDK4/6 inhibitor to treat HR+ breast cancer. Another notable trend is the rising preference for oral ETDs over injectables. Oral drugs offer ease of administration and better patient compliance. Major companies are focusing on developing novel oral ETDs to expand their product portfolios. However, lack of biomarkers to identify patients most likely to benefit from certain ETDs remains a challenge. More research is ongoing in this area to optimize treatment selection.
Threat of new entrants: The threat of new entrants is moderate as it requires high R&D investments and regulatory approvals. Bargaining power of buyers: The bargaining power of buyers is moderate as the market has the presence of several established players. Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute materials and commodities. Threat of new substitutes: The threat of new substitutes is low due to large product differentiation based on treatment. Competitive rivalry: The competitive rivalry is high due to presence of large number of branded and generic players.
The global Endocrine Therapy Drugs (ETDs) Market is expected to witness high growth.
Regional analysis: North America region currently dominates the market and is expected to continue its dominance over the forecast period. This is attributed to the growing cancer prevalence and early adoption of new drugs in the region.
Key players: Key players operating in the Endocrine Therapy Drugs (ETDs) Market size are Novo Nordisk A/S, AstraZeneca, Generex Biotechnology, Orion Pharma AB, Sanofi, Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche, Hisamitsu Pharmaceutical Co.,Inc., Bayer AG, Eli Lilly and Company, Abbott, Tonghua Dongbao Pharmaceutical Co., Ltd., Merck & Co., Inc., TherapeuticsMD, Inc., Pfizer Inc., Allergan, BioSante Pharmaceuticals, Amgen Inc., Noven Pharmaceuticals, Inc., and QuatRx Pharmaceuticals.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it