Report Overview

 The global small molecule targeted cancer therapy market was pegged at US$ 125.34 million in 2021 and is expected to witness a CAGR of 6.40% during the forecast period

Market Fundamentals

Small molecule targeted cancer therapy is used in development of drugs with low molecular weight. A low molecular weight drug can easily enter the cancer cell. Small-molecule medications are organic substances that influence molecular pathways by concentrating on key proteins. Small-molecule medications can be created using leads obtained from natural resources or from rational drug design. The medications obtained by this therapy can be formulated in the form of pills and capsules, and intravenous and subcutaneous injectables. 

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Market Dynamic

The increased preference for cancer treatments with less adverse effects, rising cancer prevalence, and rising awareness all contribute to the demand for small molecule targeted cancer therapies. Growing use of targeted therapy in place of chemotherapy, rising health spending, and rising disposable income are further key drivers of market expansion. The market expansion over the forecast period, however, may be constrained by the more drawn-out regulatory requirements, slower medication approval processes, and high operational costs. Over the course of the projection period, the worldwide small molecule targeted cancer therapy market is anticipated to see growth prospects due to the patent expiration of key medications. Despite significant advancements, drug resistance and low response rates are still significant barriers for small molecule-focused anti-cancer treatments.

Market Ecosystem

The global small molecule targeted cancer therapy market has been analyzed from three perspectives: by type, application, and region

Small Molecule Targeted Cancer Therapy Market by Type  

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Global small molecule targeted cancer therapy market based on type is segmented into small molecules, monoclonal antibodies, and small molecule drug conjugates. Monoclonal antibody segment accounted largest share in 2021. The segment is further classified into fully human antibodies, chimeric monoclonal antibody, humanized monoclonal antibody. Demand for monoclonal antibody is rising due to its high efficacy to kill cancerous cells by attaching them and turning immune system against cancer. The small molecules segment is anticipated to grow with high CAGR in the coming years. This segment is further divided into small molecule cyclin-dependent inhibitors, small molecule tyrosine kinase inhibitors, and small molecule proteasome inhibitors. Among these, small molecule tyrosine kinase inhibitors are highly preferred. These inhibitors block chemical messengers which leads to deregulation of cancer cells. 

  Small Molecule Targeted Cancer Therapy Market by Application

Based on application segment the market is grouped into breast cancer, lymphoma, melanoma, prostate cancer, lung cancer, other cancers. Lung cancer segment dominated the market. The growth is attributed to its high usage by many pharmaceutical companies in production of small molecule anti-cancer drugs. These medications have a wide range of targets, including kinases, proteins that regulate epigenetic processes, enzymes that repair DNA damage, and proteasomes which aims to stimulate the immune system against the cancer cells. In addition to this, the therapy is highly recommended by healthcare professionals in treating non-small cell lung cancer. Hence, as the prevalence of disease is increasing adoption of small molecule targeted therapy by patients as well as by pharmaceutical companies are also increasing. Furthermore, the epidermal growth factor receptor (EGFR) kinase inhibitors gefitinib and erlotinib, which effectively suppress EGFR in non-small cell lung cancer is also increasing.

Small Molecule Targeted Cancer Therapy Market by Region 

Regionally, the global small molecule targeted cancer therapy market has been segmented into North America, Europe, Asia Pacific, and rest of the world. In 2021, North America held the largest market share. This is attributable to factors such as rising rates of cancer, advantageous reimbursement policies, the presence of cutting-edge medical facilities, rising health spending, and rising demand for medicines with few side effects. Europe is the second-largest region in the world as a result of variables like rising cancer awareness, quicker uptake of novel therapies, and faster acceptance of advanced treatments. The market for small molecule targeted cancer therapy will grow at the greatest CAGR throughout the projection period in the Asia Pacific region. The Asia Pacific small molecule targeted cancer therapy market is expected to increase due to a large population base, rising cancer prevalence, rising adoption for targeted therapy with fewer side effects than chemotherapy, government initiatives to raise awareness, and rising healthcare spending.

Competitive Landscape

Some of the prominent players operating in the small molecule targeted cancer therapy market are 

• Cytokinetics Inc.
• Bayer HealthCare AG
• Boehringer Ingelheim GmbH
• Abbott Laboratories 
• Pfizer, Inc.
• OncoGenex Pharmaceuticals, Inc. 
• GlaxoSmithKline Plc 
• Johnson & Johnson Inc. 
• Novartis AG

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