Oncology Small Molecule Drug Market Expected to Reach USD 113.51 Billion by 2030, With a CAGR of 5.80% between 2023 and 2030
A recent market study by Credence Research reveals that the global oncology small molecule drug market, valued at USD 76.5 Billion in 2022, is projected to reach USD 113.51 Billion by 2030, growing at a CAGR of 5.80% from 2023 to 2030. This growth can be attributed to the increasing incidence of cancer, advancements in drug discovery and development, and significant investment in research and development (R&D) efforts.
Key market insights indicate that targeted therapy drugs lead the drug class segment, holding the largest revenue share in 2022. Meanwhile, the chemotherapy drugs segment is likely to exhibit the fastest CAGR during the forecast period. Among the indication types, breast cancer holds the largest market share, with prostate cancer expected to register the fastest-growing CAGR over the same period.
As for the route of administration (RoA), the injectable segment held the highest market share in 2022 and is also expected to display the fastest CAGR during the forecast period. Among distribution channels, retail pharmacies lead with over 25% market share in 2022, while hospital pharmacies are expected to post the highest CAGR during the forecast period.
Geographically, North America fuels the growth of the Oncology Small Molecule Drug industry with nearly a two-fifth share in 2022. Europe and Asia-pacific collectively accounted for just under 55% share in the same year, with Asia-Pacific holding over 22% share.
The market landscape reflects an ongoing commitment to advancing cancer treatment options, driven by robust R&D efforts from pharmaceutical companies, research institutions, and healthcare providers. The rising prevalence of cancer cases, particularly in countries like China and the United States, underscores the importance of continued investment in the development of small molecule drugs.
Browse (Oncology Small Molecule Drug Market By Drug Class (Chemotherapy Drugs, Alkylating Agents, Antimetabolites, Other Drugs, Targeted Therapy Drug, Proteasome Inhibitors, Tyrosine Kinase Inhibitors, TOR inhibitors, Others, Hormonal Therapy) By Indication (NSCLC, Renal Cell Carcinoma, Breast Cancer, Prostate Cancer, Multiple Myeloma, Melanoma, Lymphoma, Leukaemia, Others)–Growth, Future Prospects & Competitive Analysis, 2016 – 2030) – https://www.credenceresearch.com/report/oncology-small-molecule-drug-market
The market is marked by significant activities from key players, including Otsuka Pharmaceutical Co. Ltd, Eli Lilly and Co, Janssen Research and Development LLC, Novartis AG, Pfizer Inc., SANOFI AVENTIS US LLC, Baxter Healthcare Corp., Emcure Pharmaceuticals Ltd., AstraZeneca, Kyowa Kirin Inc., and HQ Specialty Pharma Corp. These companies continue to invest in product innovation, expand applications, and engage in mergers and acquisitions to maintain their competitive edge.
With regulatory bodies worldwide reinforcing safety standards and approving new drugs, the global oncology small molecule drug market is poised to experience significant growth in the coming years. This growth trend is expected to be bolstered by initiatives like the U.S. FDA’s voluntary pilot program introduced in June 2023 to aid clinicians in selecting appropriate cancer treatments.
Despite the high costs associated with the development of oncology small molecule drugs, the sector’s growth remains unhindered due to the crucial role these drugs play in targeted cancer therapies. With a growing focus on R&D and increased adoption of advanced drug therapies, the global oncology small molecule drug market is on track to transform cancer treatment worldwide.
Segmentation
By Drug Class
- Chemotherapy Drugs
- Alkylating Agents
- Antimetabolites
- Other Drugs
- Targeted Therapy Drug
- Proteasome Inhibitors
- Tyrosine Kinase Inhibitors
- mTOR inhibitors
- Others
- Hormonal Therapy
By Indication
- NSCLC
- Renal Cell Carcinoma
- Breast Cancer
- Prostate Cancer
- Multiple Myeloma
- Melanoma
- Lymphoma
- Leukaemia
- Others
By RoA
- Oral
- Injectables
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Specialty Clinics
- Online Pharmacies
By Region
- North America
- The US.
- Canada
- Mexico
- Europe
- Germany
- France
- The U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Browse full report – https://www.credenceresearch.com/report/oncology-small-molecule-drug-market
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