Pharmaceuticals Are the Largest Segment Driving the Growth of the Estrogen Blockers Market
The global 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 are also known as anti-estrogens that help lower the level of estrogen in the body by binding to estrogen receptors and blocking the binding and action of estrogen. They are used to treat conditions like breast cancer, prostate cancer, endometriosis, osteoporosis by inhibiting the growth of cancer cells that require estrogen to grow.
Market key trends:
One of the key trends in the estrogen blockers market is the growing prevalence of breast cancer worldwide. As per WHO, breast cancer is the most common cancer in women, impacting 2.3 million women each year globally. Early detection and treatment along with use of estrogen blockers is crucial to manage the disease. This has significantly driven the demand for estrogen blocking drugs globally.
SWOT Analysis
Strength: SERMs have more favorable side effect and safety profiles as compared to complete estrogen blockers. They block estrogen action in breast and uterus while having estrogen agonist actions in other tissues.
Weakness: Availability of alternative treatment options for conditions like breast cancer and osteoporosis.
Opportunity: Rising incidence of hormone-dependent cancers worldwide offers potential growth opportunities.
Threats: Patent expiries of major drugs may impact the market revenues of individual companies. Stiff competition from generic versions once patents expire.
Key Takeaways
Global Estrogen Blockers Market Size was valued at US$ 15.02 Bn in 2023 and is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing incidence of hormone-dependent cancers.
Regional analysis: North America dominated the market with over 30% market share in 2023 due to rising breast cancer prevalence in the region. Asia Pacific is expected to witness fastest growth due to growing patient population, rising healthcare spending and increasing focus of global players.
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. Some of the widely prescribed brands include tamoxifen (Nolvadex) and raloxifene (Evista).
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