Oncology Small Molecule Drugs Market in Numbers 

• Global sales of oncology small molecule drugs were valued at ~US$ 63 Bn in 2018, in line with the widespread prevalence of cancer and subsequent need for oral, easily absorbable, and effective medicines.
• The market for oncology small molecule drugs is envisaged to register ~6% CAGR through 2029, primarily driven by rapid technological advancement in healthcare sector that continues to pave way for new and improved product development.

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• North America, spearheaded by the U.S., is anticipated to remain the leading as well as high growth market for oncology small molecule drugs during the foreseeable period. With high treatment seeking rate and favorable reimbursement scenarios for cancer treatment, the US is estimated to witness revenues worth ~US$ 30 Bn in 2019.

Addition of new products to portfolios through partnerships, and increasing the number of molecules in early phase of drug development will remain among the key trends shaping the competition landscape of oncology small molecule drugs market.

Competition Landscape

According to the Fact.MR study, the oncology small molecule drugs market will continue to remain consolidated with top five players, including Novartis Ag, Astrazeneca, Genentech, Pfizer, and Abbvie, accounting for ~47% market value share.

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These players are emphasizing strong regional presence, robust R&D, new launches, and diverse offerings to stay ahead of the competition in oncology small molecule drugs market, which compels companies to enter strategic collaborations with recognized biopharma companies. For instance, recently in June 2019, Pfizer announced the decision to buy the oncology specialist Array BioPharma, marking an important acquisition beefing up the former’s oncology offerings with two marketed drugs – BRAF inhibitor Braftovi, and MEK inhibitor Mektovi. These two drugs have been approved as a part of the combination treatment for melanoma, and have delivered proven positive results in case of colon cancer.

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Mid-level players, such as Roche, Bayer, Genzyme Corporation (Sanofi), and Eli Lilly and Company, are focusing on penetration into developing economies, looking at their market attractiveness. Development of novel treatment options to appeal a wider patient pool will be a priority strategy adopted by prominent players in this category. The market entrants, on the other hand, are likely to remain focused on expansion of the manufacturing capacities to better their foothold in local and regional markets. Amid the growing competition in the oncology small molecule drugs market, partakers are vying to squeeze profit margins by developing low-cost variants, with an objective to firm up in developing regions.