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 is growing in parallel with the increasing collaborative efforts and initiatives of biopharma companies, investing in early cancer diagnosis and therapeutics. Increasing number of pipeline studies and rising R&D funding for healthcare industry will continue to create fresh growth avenues in the form of NPDs, thereby driving the growth of oncology small molecule drugs market.
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50% of Sales Remain Concentrated in North America
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.
The study opines that advanced and orally viable cancer drugs are adding value to the attractive market potential of oncology small molecule drugs, among an ever-growing pool of patients. Broader factors concerning cancer treatment, especially the unavailability of proper drugs in several regions and laser-sharp focus on increasing drug absorption in cells by leveraging small molecule drugs, are likely to shape revenue generation in the oncology small molecule drugs market.
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Key Prominent Players
- Novartis AG
- Sanofi S.A.
- AbbVie Inc.
- AstraZeneca plc
- Eli Lilly and Company
- Bristol-Myers Squibb Company
- AstraZeneca plc.
The research report published by Fact.MR on the Oncology Small Molecule Drugs Market provides a detailed overview of the demands and consumptions of various products/services associated with the growth dynamics of the market during the forecast period. The in-depth market estimation of various opportunities in the segments is expressed in volumes and revenues. The insights and analytics on the Oncology Small Molecule Drugs Market span several pages. These are covered in numerous sections, including, drivers and restraints, challenges and opportunities, regional segmentation and opportunity assessment, end-use/application prospects analysis, and competitive landscape assessment.
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa, Rest of MEA)
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The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Oncology Small Molecule Drugs Market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.
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The research attempts to answer many queries such as:
- What needs are the leading manufacturers trying to meet by the forecast period 2025?
- What challenges will vendors running the Oncology Small Molecule Drugs Market go through?
- What aspects do the consumers look up while buying Oncology Small Molecule Drugs?
- How will the competitive framework look like between the foreseeable period 2018 to 2025?
- At present, who is buying your product or service globally?
- Who are your primary contenders?
- What will be the cost of the products and facilities across various regions?
- What are the trends affecting the performance of the Oncology Small Molecule Drugs Market?
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Benefits of Fact.MR Study
Fact.MR has gradually established itself as one of the leading market research companies across the globe. Our unique, methodical, and up-to-date approach towards creating high-quality market reports ensures the reports include relevant market insights. Further, our team of analysts leaves no stone unturned while curating market reports in accord with the requirement of our clients.
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