May 23, 2024

The Rising Endocrine Therapy Drugs (Etds) Market Is Driven By Increasing Cancer Prevalence

ETDs work by blocking the body’s natural hormones or by stopping cancer cells from using hormones to grow. Some common ETDs include tamoxifen, anastrozole, exemestane, and leuprolide. These drugs are prescribed as adjuvant therapy after surgeries to destroy any remaining cancer cells. They are also used to treat recurrent or metastatic cancers. The rising prevalence of breast and prostate cancers due to lifestyle changes and growing aging population has fueled the demand for ETDs significantly.

The Global Endocrine Therapy Drugs (ETDs) Market is estimated to be valued at US$ 35060.96 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the Endocrine Therapy Drugs (ETDs) are Johnson & Johnson (US), Procter & Gamble (US), Kimberly-Clark (US), Essity Aktiebolag (publ) (Sweden), Kao Corporation (Japan), Daio Paper Corporation (Japan), Unicharm Corporation (Japan), Premier FMCG (South Africa), Ontex (Belgium), Hengan International Group Company Ltd. (China), Drylock Technologies (Belgium), Natracare LLC (US), First Quality Enterprises, Inc. (US), Bingbing Paper Co., Ltd. (China). The rising incidence of hormonally-responsive cancers has significantly increased the demand for ETDs in recent years. According to the WHO, breast cancer is the most common cancer in women worldwide, with an estimated 2.3 million new cases and 685,000 deaths in 2020. Prostate cancer is also a highly prevalent cancer in men, especially in developed nations. The growing awareness about cancer treatment options and improving accessibility of ETDs in developing countries is fueling the global expansion of the ETDs market.

Market drivers
The increasing global burden of cancer is a major driver for the Global Endocrine Therapy Drugs (Etds) Market Size. As per the Global Cancer Observatory (GLOBOCAN), the worldwide prevalence of cancer patients was estimated to be 43.8 million in 2020. Besides, aging population and lifestyle changes such as higher obesity, smoking, and alcohol consumption also contribute to cancer incidence. The strong pipeline of novel combination therapies and targeted ETDs also supports market growth. Drugmakers are investing in trials to develop improved treatment options through disruptive clinical approaches. This will expand therapeutic indications and boost treatment effectiveness.

Impact of Current Geopolitical Situation on The Growth of Endocrine Therapy Drugs Market

The growth of the global Endocrine Therapy Drugs market is being impacted by the current unstable geopolitical environment across various regions. Rising political tensions between major economies like US and China have disrupted supply chains and trade relations, making it difficult for pharmaceutical companies to smoothly transport drugs globally. Additionally, the ongoing Russia-Ukraine conflict has exacerbated economic challenges in Eastern Europe which has significant implications for this market. Countries involved in the war are major importers of cancer drugs but currency fluctuations and import restrictions due to sanctions are hampering drug availability. Overall, the geopolitical uncertainties have increased operating costs and risks for ETD manufacturers thus impacting their future investments and expansion plans in many foreign markets over the forecast period.

Fastest Growing Region for Endocrine Therapy Drugs Market

Asia Pacific region is expected to witness the fastest growth in the Endocrine Therapy Drugs market during the forecast years. This is majorly attributed to increasing prevalence of breast cancer cases coupled with rising health expenditures in emerging economies like China and India. Additionally, growing medical tourism, availability of low-cost generic drugs and rising awareness through government initiatives are also fueling the adoption of ETDs across Asia Pacific. However, to sustain the growth momentum, companies operating in the region need to focus on improving healthcare infrastructure, facilitating insurance coverage and ensuring uninterrupted drug supply chains despite disruptions from recurring lockdowns and restrictions associated with the ongoing pandemic.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it