The global small molecule cancer drug market is anticipated to grow at a considerable CAGR of 10.0% during the forecast period. The rising prevalence of cancer is the major factor behind the rising demand for small molecular drugs globally. The awareness programs initiated by governments across the globe for early diagnosis and treatment of cancer are also supporting the growth of the market. For instance, in November 2018, the European Commission announced the availability of the European Commission Initiative on Breast Cancer (ECIBC) recommendations about breast cancer imaging and diagnosis. The ECIBC develops the European breast guidelines, and evidence-based references to provide women and healthcare providers with bright, objective, and individualistic guidance on breast cancer diagnosis and treatment.
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However, these drugs cure cancer very slowly and are effective in the treatment of the initial stage of cancer. Most cancer cases around the globe are diagnosed at later stages, due to which consumers prefer rapid-acting treatment options. Thus, alternate treatment options for cancer treatment will hamper the growth of the small molecule cancer drug market during the forecast period. This report will further analyze all the primary and secondary factors that are directly or indirectly influencing the growth of the small molecule cancer drug market during the forecast period.
Diagnosis and treatment of several patients with different disorders were postponed during the COVID-19 crisis as hospital beds were reserved for COVID-19 patients. Due to this reason the market players had reported a significant decline during the COVID-19 pandemic. However, as the situation got normalized the market had bounced back to its pre-COVID-19 pandemic level.
Segmental Outlook
The global small molecule cancer drug market is segmented based on the drug class, route of administration, and distribution channel. Based on the drug class, the market is segmented into alkylating agents, plant alkaloids, antitumor antibiotics, antimetabolites, topoisomerase inhibitors, and others. Based on the route of administration, the market is sub-segmented into oral and injectable. Among these routes of administration, the oral segment is expected to grow fastest during the forecast period.
Based on the distribution channel, the market is sub-segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, distribution channels, the hospital pharmacies segment holds the major share in the market as these types of drugs are only consumed after the doctor’s prescription. However, the online pharmacies segment is expected to grow fastest during the forecast period due to the rising penetration of e-commerce globally.
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Regional Outlooks
The global small molecule cancer drug market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can also be analyzed for a particular region or country level as per the requirement.
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