Antihormonal Cancer Therapies Market: Introduction
- Hormones are chemicals that are naturally produced by the organs and regulate just about every cell in the body. Hormone therapy is also known as endocrine therapy. Insulin, thyroid hormone, epinephrine, cortisol, testosterone, and estrogen are some examples of hormones.
Key Drivers and Opportunities of Global Antihormonal Cancer Therapies Market
- Increase in incidence and prevalence of cancer such as breast cancer and prostate cancer is anticipated to drive the antihormonal cancer therapies market. For instance, according to a study conducted by Breastcancer.org, in 2020, estimated 12% women in U.S. are likely to develop invasive breast cancer over the lifetime and estimated 48,530 new cases of non-invasive (in situ) breast cancer along with 276,480 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S.
- According to the American Cancer Society, Inc., in 2017, estimated 63,410 in situ cases, 252,710 invasive cases and 40,610 deaths in all ages due to breast cancer were recorded in U.S.
- Moreover, rise in demand for newer agents that aim to circumvent resistance and combination therapies is leading to fuel the growth of antihormonal therapies. Thus, the industry players are engaged in research and development in order to develop new products and therapies. For instance, U.S. Food and drug Administration approved Piqray in May 2019 to be used in combination with the FDA-approved endocrine therapy fulvestrant, to treat postmenopausal women, and men, with hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative, PIK3CA-mutated, advanced, or metastatic breast cancer.
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- Furthermore, increase in government and private organization initiatives to increase awareness regarding the cancer treatment is likely to propel the market. For instance, the World Health Organization promotes breast cancer control within the context of comprehensive national cancer control programs.
- The incidence rate of breast and prostate cancer has been increasing steadily in developing countries. Prostate cancer is one of the leading cancers in India. For instance, according to Cytecare Hospital, estimated 26,120 and 28,079 cases of prostate cancer were reported in 2010 and 2015, respectively, in India. Moreover, the five-year survival rate for prostate cancer in India was 64%.
- Moreover, governments in developing countries are making significant investments toward modernization of health care infrastructure which is likely to increase access to health care
- Thus, rising prevalence and government initiatives in developing countries present lucrative opportunities in the global market
North America to Capture Major Share of Global Antihormonal Cancer Therapies Market
- North America is expected to account for major share of the global antihormonal cancer therapies market due to high prevalence of cancer. Moreover, early adoption of advanced therapies is anticipated to drive the market in the region.
- The antihormonal cancer therapies market in Asia Pacific is expected to grow at a rapid pace during the forecast period, owing to rise in awareness and increase in cases of cancer
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Key Players Operating in Global Antihormonal Cancer Therapies Market
The global antihormonal cancer therapies market is highly concentrated due to the presence of key players. A large number of manufacturers hold major share in their respective regions. Demand for antihormonal cancer therapies products has increased in emerging as well as developed markets. Growth strategies adopted by leading players and focus on research and development are the key factors likely to drive the global antihormonal cancer therapies market.
Major players operating in the global antihormonal cancer therapies market are:
- Bristol-Myers Squibb Pharmaceuticals
- Novartis AG
- Pfizer Inc.
- AbbVie Inc.
Global Antihormonal Cancer Therapies Market: Research Scope
Global Antihormonal Cancer Therapies Market, by Type
- Aromatase Inhibitors
- Gonadotropin Releasing Hormone (GnRH)
Global Antihormonal Cancer Therapies Market, by Application
- Breast Cancer
- Prostate Cancer
- Ovarian Cancer
Global Antihormonal Cancer Therapies Market, by Route of Administration
Global Antihormonal Cancer Therapies Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.