High prevalence of cancer, coupled with the increasing demand for targeted therapy drugs will drive oncology small molecule drugs sales
High prevalence of cancer, coupled with the increasing demand for targeted therapy drugs will drive oncology small molecule drugs sales
Fact.MR, New York: Fact.MR’s recent study has projected the global oncology small molecule drugs market to grow at a healthy pace through 2021. Rising prevalence of cancer and improving availability of oral small molecule drugs for cancer treatment are expected to drive the market. According to the study, increasing focus of biopharmaceutical and pharmaceutical companies on developing targeted small molecule therapy drugs is expected to spur the market growth.
Soaring research and development (R&D) activities for targeted therapies such as hormone therapies, signal transduction inhibitors and immunotherapies among research centers are accelerating the growth of oncology small molecule drugs market. Additionally, fast clinical trials and approval by the U.S Food and Drug Administration (FDA) for targeted therapies for various types of cancers have significantly improved the market revenue.
The study indicates, rapid development of targeted therapy small molecule drugs due to their high precision and effectiveness for cancer treatment will sustain revenues in the market through 2029. Fact.MR estimates, the global oncology small molecule drugs market to expand at an impressive CAGR of 6% through 2029.
“Market players are focusing on robust R&D initiatives, product launches, and expanding their regional presence to stay ahead of competition,” says the Fact.MR analyst.
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Key Takeaways
- United States expected to the highest as well as the fastest growing market for oncology small molecule drugs through 2029
- In terms of drugs class, targeted therapy drugs to be the most lucrative segment
- Increased research and development activities across Japan to provide growth opportunities for market players in the region
- Oral oncology small molecule drugs to dominate the market over the forecast period
- Immunomodulating drugs are expected to emerge as a potential segment through 2021
- Surging demand for the treatment of non-small cell lung cancer is likely to generate high revenues from the segment
- Tumor-specific cell-surface antigens are expected to contribute high revenue in the oncology small molecule drugs market through 2021 & beyond
Prominent Drivers
- Increased R&D expenditure in the pharmaceutical and biopharmaceutical industry is expected to drive the demand of oncology small molecule drugs
- Rising demand for outsourcing clinical trial services and analytical testing may accelerate the growth of the market
- Rapid technological advancement for new and improved product development to drive the market growth through 2021
Key Restraints
- High cost of drug discovery and development is likely to restrict the growth of the market
- Stringent regulations for oncology small molecule drugs is expected to challenge the market growth
- Low production capability of oncology drugs may hamper the demand of oncology small molecule drugs market
Discover more about the oncology small molecule drugs market with 215 figures, 53 data tables and the table of contents.
https://www.factmr.com/report/3747/oncology-small-molecule-drugs-market
Competitive Landscape
Key market players listed by Fact.MR for global oncology small molecule drugs market includes Novartis AG, Genentech, Pfizer, AbbVie, Roche, Bayer, Genzyme Corporation (Sanofi), and Eli Lilly & Co. among others. According to the study, the market is expected to be consolidated. Prominent market players are orchestrating strategic collaboration with top bio-pharma companies to maintain their lead in the oncology small molecule drugs market. Robust R&D activities and new product launches are the key focus area to maintain their foothold in the industry.
For instance, in April 2021, Exscientia, a leading Artificial Intelligence (AI)-driven pharma tech company, announced the launch of its first AI-designed molecule for immune-oncology to enter human clinical trials. The A2a receptor antagonist that is in development for adult patients with advanced solid tumors, was co-invented and developed through collaboration between Exscientia and Evotec, including application of Exscientia’s next generation 3-D evolutionary AI-design platform as part of Centaur Chemist®.
Also, in January 2021, Nirogy Therapeutics Inc., a private bio-technology company developing novel small molecules to target cellular transporters, announced a drug delivery platform in conjunction with Santé Ventures and Sporos, with a closing of US$ 16.5 million to generate a pipeline of small-molecule drugs designed to target the solute carrier family of transporter proteins (SLCTs) embedded in cell membrane.
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More Insights on the Oncology small molecule drugs Market
Fact.MR offers an in-depth analysis on its latest market research report on global oncology small molecule drugs market. The report delivers detailed insights on the major growth drivers, trends, challenges and opportunities, the market is expected to prevail through 2021 and beyond. To gain a better perspective for the oncology small molecule drugs market scenario and ongoing trends, the market is segmented on the basis of drug class (chemotherapy drugs, immunomodulating drugs, targeted therapy drugs and hormonal therapy), indication (non-small cell lung cancer, renal cell carcinoma, breast cancer, prostate cancer, multiple myeloma, melanoma, lymphoma, leukemia and others), distribution channel (hospital pharmacies, retail pharmacies, specialty clinics, and online pharmacies), route of administration (oral and injectable) across major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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