Global Oncology Small Molecule Drugs Market – A Report by Fact.MR
Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global oncology small molecule drugs market. The oncology small molecule drugs market report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth. Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the oncology small molecule drugs market report elaborates the market behavior of each vendor operating in the oncology small molecule drugs market.
According to a recent study by Fact.MR, sales of oncology small molecule drugs are envisaged to surpass US$ ~66 Bn in 2019, up from revenues worth US$ ~63 Bn attained in 2018. Gains are prominently underpinned by spectacular rise in cancer prevalence, rapid proliferation of oncology centers, and improving availability of oral small molecule drugs for cancer treatment. The report suggests that a number of oncology small molecule drugs are getting approvals, which are potentially effective in treating unresectable cancers, which clearly points to a positive growth outlook for the oncology small molecule drugs market.
The oncology small molecule drugs market report considers the following years to present the overall market growth:
- History Year: 2014 – 2018
- Base Year: 2014
- Estimated Year: 2029
- Forecast Year: 2019 – 2029
Key findings of the oncology small molecule drugs market study:
- Regional breakdown of the oncology small molecule drugs market based on predefined taxonomy.
- Innovative manufacturing processes implemented by oncology small molecule drugs market vendors in detail.
- Region-wise and country-wise fragmentation of the oncology small molecule drugs market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global oncology small molecule drugs market.
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On the basis of drug class, the oncology small molecule drugs market study consists of:
- Chemotherapy Drugs
- Immunomodulating Drugs
- Targeted Therapy Drugs
- Hormonal Therapy
As per the study, biopharma companies are likely to renew their focus on drugs that drive the visibility of tumors to the immune system, when used along with medications that reinforce the immune system for multiple myeloma management. The study highlights that immune-modulators and tumor-specific cell-surface antigens will emerge as significant areas of focus for future treatments in multiple myeloma, which contributed revenues worth US$ 13Bn in the oncology small molecule drugs market, in 2018. The study also indicates that the demand for oncology small molecule drugs for the treatment of Non-Small Cell Lung Cancer (NSCLC) is highly likely to soar in the years to come.
According to the report, targeted therapy drugs will remain the most lucrative drug class in the oncology small molecule drugs landscape, commanding over 50% sales in the market during the foreseeable future. Increased focus of pharmaceutical and biopharmaceutical companies on developing targeted therapy small molecule drugs on account of their superior and more precise nature of the treatment will continue to sustain revenues in the market. With targeted therapy small molecules garnering increased traction as one of the leading entities that are being evaluated for the future cancer treatment over other treatment options, such as immunomodulation drugs, their adoption is set to grow through 2029.
According to the Fact.MR study, sales of oncology small molecule drugs will remain concentrated in North America, primarily driven by the high prevalence of cancers and advanced treatment infrastructure in the region. Increasing funds from governments as well as private organizations for the development of advanced and improved cancer treatments, will remain the key growth influencers associated with the growth of oncology small molecule drugs market in North America.
In 2018, North America accounted for half the sales of oncology small molecule drugs, and will continue to remain the most lucrative market for stakeholders. Stringent approval regulations, especially in developing countries, such as Japan, will continue to limit the penetration of oncology small molecule drugs in these regions to an extent. Furthermore, Japan, peculiarly having one of the most difficult approval processes for new drug molecules, holds an impressive opportunistic potential for market leaders that are striving for quicker drug approvals by improving R&D processes and expansion strategies, targeting developing countries.
Queries addressed in the oncology small molecule drugs market report:
- How has the global oncology small molecule drugs market grown over the historic period of 2014-2018?
- Why are the oncology small molecule drugs market players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global oncology small molecule drugs market?
- Which regions are displaying the fastest growth in the oncology small molecule drugs market?
- What are the underlying micro- macroeconomic factors affecting the global oncol