ETDs are primarily used in the treatment of cancer types that are hormone-receptor positive such as breast cancer, prostate cancer and uterine cancer. Drugs such as tamoxifen, aromatase inhibitors, and LHRH agonists are helpful in lowering the levels of hormones like estrogen and progesterone in the body, which helps in slowing or stopping the growth and spread of cancer cells. Rising prevalence of hormonal cancers and growing aging population that is more prone to developing such cancers are the key factors fueling the demand for endocrine therapy drugs.
The global endocrine therapy drugs (ETDs) market is projected to be valued at US$ 35060.96 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period from 2024 to 2030.
Key Takeaways
Key players operating in the ETDs market are Johnson & Johnson, Procter & Gamble, Kimberly-Clark, Essity Aktiebolag (publ), Kao Corporation, Daio Paper Corporation, Unicharm Corporation, Premier FMCG, Ontex, Hengan International Group Company Ltd., Drylock Technologies, Natracare LLC, First Quality Enterprises, Inc., Bingbing Paper Co., Ltd.. Key opportunities in the global ETDs market include new product development, collaboration strategies with payers and healthcare facilities, and expansion to emerging markets. Geographic expansion by major players across Asia Pacific and Latin America regions will further propel the market growth during the forecast period.
Market drivers
One of the major drivers for the Global Endocrine Therapy Drugs (Etds) Market Size is the growing geriatric population worldwide which is at a higher risk of developing cancer. According to the United Nations, people aged 60 or above are projected to outnumber children under 10 for the first time in 2050. Moreover, factors like changing lifestyle, rising obesity rates and increasing adoption of HT (hormone therapy) for non-cancer indications are further fueling the demand for endocrine therapy drugs globally.
PEST Analysis
Political: The governement regulations regarding drug testing and approval process affects the growth of ETDs market. Stringent approval measures impact the timely availability of new treatment options.
Economic: Changes in the overall economy, healthcare spending and reimbursement policies affect demand for ETDs. Strong GDP growth and rise in income levels positively influences the market.
Social: Growing prevalence of cancer drives the need for effective treatment therapies. Increased awareness regarding different cancer types and availability of treatment increases social acceptability of ETDs.
Technological: Continued research in drug design and development leads to better and more targeted treatment options. Advances in cancer diagnostics helps identify high-risk patients that need adjuvant therapy using ETDs.
The ETDs market is concentrated in North America and Europe in terms of value. Countries like the US, Germany, UK, France have sophisticated healthcare systems and high spending on cancer care. These regions account for over 60% share of the global market.
The Asia Pacific region is the fastest growing market for ETDs. Factors driving growth include large patient pool, rising healthcare investments, growing economy and increasing incidence of cancers. Countries like China and India are expected to offer high growth opportunities owing to growing middle class population and demand for quality care. Improving diagnostic capabilities and healthcare infrastructure also support the market expansion in Asia Pacific.
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