Tamoxifen Market to Reach Worth USD 683.7 Mn by 2022: Emerging Countries to Witness Higher Demand
According to the latest report published by Credence Research, Inc. “Tamoxifen Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the tamoxifen market was valued at USD 675.7 Mn in 2015, and is expected to reach USD 683.6 Mn by 2022, expanding at a CAGR of 0.07% from 2016 to 2022.
Browse the full report Tamoxifen: Market Growth, Future Prospects and Competitive Analysis, 2016-2022 at http://www.credenceresearch.com/report/tamoxifen-market
Tamoxifen is the oldest and among the most prescribed selective estrogen receptor modulator for breast cancer treatment and management. Tamoxifen is approved for early stage, hormone receptor positive breast cancer in men and women, after surgery or chemotherapy to reduce recurrence risk, and for management of advanced stage or metastatic hormone-receptor positive breast cancer. Women at high risk of developing breast cancer also use Tamoxifen. Tamoxifen is at the maturity stage of product life cycle and is anticipated to experience decline in market growth in the light of introduction of advanced breast cancer management drugs.
This report analyzes the geographical distribution of tamoxifen market in North America, Europe, Asia-Pacific and Rest of the World markets. Currently, North America is the largest market for tamoxifen drugs and it is anticipated that the lead of this region will continue through 2022. Large pool of breast cancer patients, high awareness for breast cancer screening and prevention, well-structured reimbursement scenario and large pool of breast cancer patients. Asia-Pacific and Rest of the World markets will experience the fastest CAGR during 2016-2022. Improving awareness in Middle East and Africa, high incidence of late stage breast cancer in these regions and rapid development of healthcare infrastructure are the prime drivers of Rest of the World market.
Proven long-term efficiency of hormone therapy for management and control of breast cancer across various stages of treatment, in geriatric patients that cannot opt for surgery, and late-stage and recurrent breast cancer, and widespread use of tamoxifen as adjuvant therapy are the prime factors driving the demand for tamoxifen. Growth of tamoxifen-resistant cancer and growing awareness about the drug inducing endometrial cancer may restrain the market growth. Growing application of tamoxifen in treatment of conditions such as McCune-Albright syndrome, infertility, gynecomastia, bipolar disorder, angiogenesis and Riedel’s thyroiditis, and its use in research studies involving gene expression serve as future avenues for the growth of this market.
The global tamoxifen market is moderately competitive with AstraZaneca, Teva Pharmaceutical Industries, Allergan, Mylan, Apotex and Midatech the known players. Anticipated merger of Teva with Allergan is expected to bring a shift in market competition.
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