Newark, New Castle, USA, Jan. 19, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global small molecule targeted cancer therapy market is expected to clock US$ 225.45 million by 2030 and to grow at a CAGR of 6.40% during the forecast period. Increased adoption of small molecule drugs is one of the major factors influencing the market. This exclusive information is published by Growth Plus Reports in its report titled “Small Molecule Targeted Cancer Therapy Market – Global Outlook & Forecast 2022-2030”
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The global small molecule targeted cancer therapy market has been analyzed from three perspectives: by type, application, and region
Increased adoption of small molecule drugs is one of the major factors influencing the market. The effectiveness of small molecule medications for the treatment of cancer depends in part on their specificity. Small molecule medication approach has drawn the interest of market participants in cancer therapy due to its focus on a specific target. Since small molecule medications have better target specificity and more accessibility to cancer cells than any other non-targeted therapy now in use, they are conceptually more focused. This represents immense development potential for the small molecule medication targeted cancer therapy market.
Excerpts from ‘by Type’
Global small molecule targeted cancer therapy market according to type is segmented into:
- Small Molecules
- Monoclonal Antibodies
- Small Molecules 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. The segment is further sub segmented 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.
Excerpts from ‘by Application’
The market is divided into categories:
- Breast Cancer
- Lymphoma
- Melanoma
- Prostate Cancer
- Lung Cancer
- Other Cancers
The market is controlled by the lung cancer category. Its extensive use by numerous pharmaceutical firms in the creation of small molecule anti-cancer medications is credited with the increase. These drugs target a variety of substances, such as kinases, proteins that control epigenetic processes, enzymes that fix DNA damage, and proteasomes, which try to activate the immune system against the cancer cells. Professionals in medicine also strongly endorse the therapy for the treatment of non-small cell lung cancer. As a result, small molecule targeted therapy is increasingly being adopted by patients and pharmaceutical businesses alike as the prevalence of disease rises.
Excerpts from ‘By Region’
Regionally, the global Small molecule targeted cancer therapy has been segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the world
North America had the greatest share in 2021. This is due to market shaping factors such rising cancer incidence rates, favorable reimbursement practices, the presence of high government medical facilities, rising health expenditures, and increased demand for medications with few side effects. Europe is the second-largest region in the world as a result of factors like increased cancer awareness, quicker adoption of novel therapies, and quicker acceptance of advanced treatments. Throughout the forecast period, the Asia Pacific region would experience the highest CAGR growth in the small molecule targeted cancer therapy market. Due to a huge population base, increasing cancer prevalence, and growing need for focused therapy with fewer side effects, the Asia Pacific small molecule targeted cancer therapy market is anticipated to grow.
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Excerpts from ‘Competitive Landscape’
Some of the prominent players operating in the small molecule targeted cancer therapy market are
- OncoGenex Pharmaceuticals, Inc.
- Cytokinetics Inc.
- Bayer HealthCare AG
- Boehringer Ingelheim GmbH
- Abbott Laboratories
- GlaxoSmithKline Plc
- Johnson & Johnson Inc.
- Novartis AG
- Pfizer Inc.
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