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Oncology Small Molecule Drugs Market

Oncology Small Molecule Drugs Market

Rising Prevalence of Cancer with Demand for Effective Drugs to Boost the Oncology Small Molecule Drugs Market Growth during 2021-2031

Oncology Small Molecule Drugs Market
FACT3747MR
  • Sep-2021
  • List of Tables : 53
  • List of Figures : 215
  • 170 Pages
  • Healthcare

Market Snapshot

Revenues in the targeted therapy drugs segment of the oncology small molecule drugs industry is expected to showcase robust expansion through 2021. As of 2019, market revenue for the overall market surpassed US$ 66 Bn, up from US$ 63 Bn in 2018. The market will remain consolidated, with top five players, Novartis Ag, AstraZeneca, Genentech, Pfizer, and AbbVie, accounting for 47% market share. 

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Key Points Covered in Oncology Small Molecule Drugs Industry Survey:

  • Market Estimates and Forecasts 2016-2031
  • Key drivers and restraints shaping market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Oncology Small Molecule Drugs Market and How to Navigate
  • Recommendation on a Key Winning Strategies

Consumption Analysis of Oncology Small Molecule Drugs 2016-2020 Vs Future Outlook 2021 to 2031

From 2016 to 2020, demand for oncology small molecule drugs surged at nearly 3% CAGR, reaching over US$ 66 Bn. The market was valued at nearly US$ 63 Bn in 2018, attributed by widespread prevalence of cancer and subsequent need for oral, easily absorbable, and effective medicines.

The market for oncology small molecule drugs is predicted to surpass US$ 120 Bn by 2031 surpassing a CAGR of 6% in the forecast period. Rapid technological advancement in healthcare sector is foresee to be the primary demand driving determinant.

Furthermore, North America, led by the U.S., is predicted to remain the dominant market for oncology small molecule drugs during the foreseeable period. Owing to high drug cost and favourable reimbursement scenarios for cancer treatment, the US is predictable to witness revenues worth around US$ 30 Bn in 2019.

An Adaptive Approach to Modern-day Research Needs

What are the Factors Driving the Demand for the Oncology Small Molecule Drugs Market?

Rising awareness about the availability of innovative and easy intake drugs for cancer treatment is providing a stimulus to oncology small molecule drugs sales. Furthermore, high prevalence of cancer, coupled with growing demand for effective drugs are the prominent demand drivers for oncology small molecule drugs.

Additionally, rapid technological advancements in healthcare sector and surging demand for outsourcing clinical trials is projected to accelerate the market growth in the forthcoming period.

How are Regulatory Approvals for Various Formulations Widening Prospects?

In 2020, the U.S Food & Drug Administration (FDA)  approved 4 novel drugs for patients with lung cancer (pralsetinib, lurbinectedin, selpercatinib, capmatinib), in addition to several expansions for the use of previously approved therapeutics. Manufacturers are incorporating modern equipments to reduce the risk and effective treatment of cancer.

Moreover, governments are investing in research and development of advanced cancer drugs that can be economical and easily available worldwide in order to pull down the mortality rate

Interested to Procure The Data

How will Changing Trends Impact the Oncology Small Molecule Drugs Market?

Expanding research and development (R&D) activities for targeted therapies such as hormone therapies, signal transduction inhibitors and immunotherapies among research centres are boosting the growth of oncology small molecule drugs market. 

Furthermore, manufacturers are leveraging next-generation technology such as artificial intelligence (AI) to optimize time and reduce development cost of cancer drugs across the forecast period.

Country-wise insights

How are Regulatory Approvals Widening Sales in the U.S Market?

As per the American Cancer Society as of 2020, nearly 1.8 million new cancer cases were predicted to be diagnosed, with around 606,520 fatalities across the U.S. To prevent this, pharmaceutical companies are pushing for faster approvals of their potential drug candidates, widening prospects.

However, subsequent approval of cancer drugs by FDA has paved for the market expansion of oncology targeted drugs in the country. Additionally, manufacturers are focusing on technological advancements in drug development cycle which will optimize the discoveries of new and effective drugs.

With high treatment seeking rate and favorable reimbursement scenarios for cancer treatment, the U.S is estimated to witness revenues worth US$ 30 Bn in 2019.

Why is the Oncology Small Molecule Drugs Industry Flourishing in China?

China stands second in the market, with its oncology market alone encompassing 37% of all lung cancer, 44% of stomach cancer and 52% of liver cancer patients globally. Additionally, China’s cancer mortality rate is 40% higher than that of the U.S. rate.

Recently, China has granted the first full approval of a drug developed in the country to have been through modern clinical trials: the colorectal cancer treatment Elunate (fruquintinib). This will help the oncology small molecule drugs industry to flourish in the country. Nearly 55% of global demand will emanate from China.

Category-wise insights:

Why are Oral Oncology Small Molecule Drugs More Preferred?

Sales of oral oncology drugs amounted to over US$ 56 Bn in 2019. According to NIH, oral targeted therapies are increasingly being used to treat cancer. They work by interfering with specific molecules or pathways involved in tumour growth.

Currently, targeting drug delivery is emerging as an effective approach for oral delivery of different therapeutics. North America was the largest region in the global oral oncology drugs market, accounting for 46% of the market in 2019, followed by Asia at 24%.

How are Targeted Therapy Drugs Emerging as a Dominant Category?

Targeted therapy as a vital type of cancer treatment continues to expand the bandwidth of opportunities as they can help stop a cancer cell from dividing and making new cancer cells. As per Fact.MR, targeted therapy drugs are expected to capture nearly 50% of the global revenue.

Mounting FDA approvals of oncology small molecule drugs, such as larotrectinib (Vitrakvi) as a type of targeted therapy that aims a specific genetic change known as NTRK fusion, continue to add gains into the market.

Meanwhile the first tyrosine kinase inhibitor imatinib was approved market sales by the US Food and Drug Administration (FDA) in 2001, a swelling number of small-molecule targeted drugs have been developed for the treatment of malignancies. Targeted drugs have rapidly developed and entered a golden period of development.

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.   

  • In June 2021, Novartis AG has received breakthrough therapy designation from the U.S. Food and Drug Administration for an experimental treatment for advanced castration-resistant prostate cancer-Novartis’ Lu-PSMA-617 - a tumour-targeting radiation therapy
  • In December 2019, Sanofi and Synthorx, Inc., a clinical-stage biotechnology company focused on prolonging and improving the lives of people suffering from cancer and autoimmune disorders, entered into a definitive agreement of approximately $2.5 Bn (on a fully diluted basis).

Report Scope

Report Attribute

Details

Market size value in 2020

USD 66 Billion

Market forecast value in 2031

USD 120 Billion

Growth Rate

CAGR of 6% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • Italy
  • France
  • Spain
  • BENELUX
  • Russia
  • India
  • ASEAN
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • GCC
  • Turkey
  • South Africa

Key Market Segments Covered

  • Route of Administration
  • Drug Class
  • Distribution Channel
  • Indication
  • Region

Key Companies Profiled

  • Novartis AG
  • Pfizer Inc.
  • Amgen Plc.
  • F. Hoffmann-La Roche Ltd.
  • Eli Lilly and Company
  • Sanofi SA
  • Bristol-Myers Squibb Company
  • AbbVie Inc.
  • Bayer AG
  • Incyte Corporation
  • Celgene Corporation
  • AstraZeneca Plc.
  • Exelixis Inc.
  • Millennium Pharmaceuticals Inc. (Takeda)

Pricing

Available upon Request

Key Segments Covered

  • Route of Administration

    • Oral Oncology Small Molecule Drugs
    • Injectable Oncology Small Molecule Drugs
  • Drug Class

    • Small Molecule Chemotherapy Drugs
      • Alkylating Drugs
      • Antimetabolites
      • Other Drugs
    • Small Molecule Immunomodulating Drugs
    • Small Molecule Targeted Therapy Drugs
      • Proteasome Inhibitors
      • Tyrosine Kinase Inhibitors
      • mTOR Inhibitors
      • Hormonal Therapy
  • Distribution Channel

    • Oncology Small Molecule Drugs Distribution via Hospital Pharmacies
    • Oncology Small Molecule Drugs Distribution via Retail Pharmacies
    • Oncology Small Molecule Drugs Distribution via Specialty clinics
    • Oncology Small Molecule Drugs Distribution via Online Pharmacies
  • Indication    

    • Oncology Small Molecule Drugs  for Non-small Cell Lung Cancer
    • Oncology Small Molecule Drugs  for Renal Cell Carcinoma
    • Oncology Small Molecule Drugs  for Breast Cancer
    • Oncology Small Molecule Drugs  for Prostate Cancer
    • Oncology Small Molecule Drugs  for Multiple Myeloma
    • Oncology Small Molecule Drugs  for Melanoma
    • Oncology Small Molecule Drugs  for Lymphoma
    • Oncology Small Molecule Drugs  for Leukaemia
    • Oncology Small Molecule Drugs  for Other Indications           

- FAQs -

As of 2019, sales of oncology small molecule drugs reached US$ 66 Bn

From 2016 to 2020, sales of oncology small molecule drugs expanded at approximately 3% CAGR

From 2021 to 2031, demand for oncology small molecule drugs is expected to surge at approximately 6% CAGR

By 2031, sales of oncology small molecule drugs will surpass US$ 120 Bn according to Fact.MR

Increasing number of cancer cases and investments in R&D of oncology drug production are the prominent demand driver for the market.

Sales of oncology small molecule drugs in China will likely capture 55% of global demand

As per Fact.MR, oncology small molecule drugs sales totaled US$ 30 Bn in the U.S as of 2019

Novartis Ag, AstraZeneca, Genentech, Pfizer, and AbbVie, are the top 5 players, accounting for 47% market share. 

Oral administration is the most preferred route of administration, clocking US$ 56 Bn in 2019

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