by The Estrogen Blockers Market is estimated to be valued at US$ 15.02 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Estrogen blockers, also known as antiestrogens, are a class of drugs used primarily in cancer treatment. They work by blocking the effects of the hormone estrogen in the body. Estrogen blockers are typically used as adjuvant therapy for breast cancer and treat other hormone-sensitive cancers such as endometrial cancer. They can help prevent cancer recurrence and reduce future risk of cancer developing in other areas of the body.
Market key trends:
Increasing prevalence of hormone-sensitive cancers such as breast and endometrial cancers is expected to drive the estrogen blockers market growth during the forecast period. According to the World Cancer Research Fund International, breast cancer is the most commonly occurring cancer in women worldwide. The organization estimated that around 2 million new cases of breast cancer were diagnosed globally in 2020. Growing geriatric population is another factor fueling the market as risk of cancer increases with age. Furthermore, rising awareness about treatment options and availability of generic versions of estrogen blockers at lower costs are facilitating greater adoption of these drugs especially in developing nations.
Porter’s Analysis
Threat of new entrants: The estrogen blockers market requires large capital investments for R&D. Stringent regulatory norms for approval further restrict new companies from entering this market.
Bargaining power of buyers: The presence of several established brands increases the bargaining power of buyers in this market. Buyers can negotiate for better prices and quality.
Bargaining power of suppliers: Major suppliers in this market include raw material providers and contract manufacturing organizations. Suppliers have moderate bargaining power due rising competition.
Threat of new substitutes: New generation formulations and alternate treatment methods pose potential threats to established estrogen blocker brands.
Competitive rivalry: The estrogen blockers market includes several global and regional players competing based on pricing and product differentiation.
SWOT Analysis
Strength: Established drug portfolios, global presence and extensive R&D capabilities of leading players.
Weakness: High costs associated with clinical trials and new product development. Dependence on reimbursement policies.
Opportunity: Rising cancer prevalence worldwide and growing geriatric population present high growth opportunities.
Threats: Stringent regulations and safety concerns over long-term use of estrogen blocking drugs. Patent expiries of blockbusters.
Key Takeaways
Global Estrogen Blockers Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing cancer incidence. Regional analysis Europe dominates the global market currently due to presence of major players and growing awareness about cancer prevention. Asia Pacific shows high growth potential owing to rising healthcare spending and growing medical tourism.
Key players operating in the estrogen blockers market are Pfizer Inc., Novartis AG, AstraZeneca PLC, Eli Lilly and Company, Merck & Co., Inc., Bristol Myers Squibb Company, Johnson & Johnson, Sanofi S.A., AbbVie Inc., GlaxoSmithKline plc. Key players are focused on expanding their product portfolios through mergers, acquisitions and licensing agreements. Market players are increasingly investing in R&D to introduce novel drug delivery systems and combinational therapies for superior results.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
