Estrogen Blockers Market is Estimated to Witness High Growth Owing to Increasing Incidence of Breast Cancer
Estrogen blockers, also known as antiestrogens, are a class of pharmaceutical drugs used primarily in the treatment and prevention of breast cancer in hormone receptor-positive women. They work by blocking the effects of estrogen in the body. Some common estrogen blockers include tamoxifen, raloxifene, and aromatase inhibitors such as anastrozole, letrozole, and exemestane. These drugs are commonly prescribed as adjuvant therapy for 5-10 years following primary treatment of breast cancer or as preventative therapy for high-risk women to reduce the chance of developing breast cancer. The rising incidence and prevalence of breast cancer globally have resulted in a surge in demand for effective estrogen blocking therapies. According to the Global Cancer Observatory, 2.3 million new cases of breast cancer were diagnosed worldwide in 2020, accounting for nearly 12% of all new cancer cases.
The global Estrogen Blockers Market is estimated to be valued at US$ 15.02 Billion in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing incidence of breast cancer is one of the primary drivers boosting the estrogen blockers market. As outlined earlier, breast cancer is one of the most commonly occurring cancers globally. According to WHO, nearly 627,000 women died from breast cancer in 2020, making it the leading cause of cancer death among women. As more women are getting diagnosed with breast cancer each year, the demand for effective treatments such as estrogen blockers will continue rising over the forecast period. Furthermore, rising awareness about therapeutic and preventive benefits of estrogen blockers, especially among high-risk women, is another driver fueling market growth. However, factors like side effects associated with estrogen blockers like hot flashes, changes in menstrual periods, leg cramps, osteoporosis, and cardiovascular problems could hamper the market to an extent.
SWOT Analysis
Strength: Estrogen blockers help to reverse the effects of excess estrogen in the body. They block the estrogen receptors and prevent estrogen from binding and stimulating cell growth. Some estrogen blockers have been found to reduce breast cancer recurrence rates in postmenopausal women by as much as 50% with few side effects.
Weakness: Estrogen blockers could cause menopausal-like side effects like hot flashes, night sweats, and vaginal dryness in some women. Additionally, long term safety of estrogen blockers is still being studied as they have only been approved for clinical use since the late 1990s.
Opportunity: Rising number of postmenopausal women and growing awareness about managing health risks of estrogen open up opportunities for estrogen blockers market. Developing new delivery methods and combining estrogen blockers with other drugs can further boost the market.
Threats: Strict regulations for approval of new cancer drugs and potential safety issues discovered during long term use studies can negatively impact the estrogen blockers market. Patent expiries of major drugs will increase competition from generic manufacturers.
Key Takeaways
Global Estrogen Blockers Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Estrogen Blockers Market is estimated to be valued at US$ 15.02 Billion in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
North America currently dominates the market owing to high incidence of breast cancer and increasing healthcare spending in the region. Rising focus on increasing research and development activities for innovating advanced treatment options to manage breast cancer will propel the North American estrogen blockers market. Europe holds the second largest share of the estrogen blockers market and is expected to grow at a steady pace during the forecast period. Increasing initiatives by governments and non-profit organizations to spread awareness about breast cancer and its prevention and treatment in countries like Germany, United Kingdom and France contribute to the robust market size.
Key players operating in the estrogen blockers market are Pfizer, AstraZeneca, Novartis AG, Teva Pharmaceutical Industries Ltd., Cipla Ltd., Hikma Pharmaceuticals PLC, Accord Healthcare Ltd., Mylan N.V. and Sun Pharmaceutical Industries Ltd. Patent expiry of major drugs like tamoxifen has boosted the availability of low-cost generic versions. However, key players are focused on developing advanced formulations and therapeutic combinations to stay ahead of competition.
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