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Market Size of Small Molecule Targeted Cancer Therapy, Forecast Report 2013-2019
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Targeted cancer drugs are broadly classified as follows:
Small Molecules
Monoclonal Antibodies
Small Molecule Drug conjugates
Small molecules can further be classified as follows:
Small molecule proteasome inhibitor (e.g. Bortezomib)
Small molecule cyclin-dependent kinase inhibitor (e.g. Seliciclib)
Small molecule tyrosine kinase inhibitor (e.g. Imatinib)
Geographically, North America is the leading market due to the rise incancer cases. According to the International Agency for Research on Cancer (IARC), around 13 million new cancer cases has been diagnosed worldwide. Moreover, according to the World Cancer Report, incidence rate of cancer could further rise by 50% to 15 million new cancer cases by 2020. Furthermore, the European and Asian-Pacific regions are expected to witness increased market traction due to commercialization of target oriented economic drugs.
The major factors driving this market are rise in incidence rate of cancer, minimal adverse effects, targeted approach and high adoption rate. Additionally, more number of blockbuster drugs such as Novartis’s Glivec are losing their patents, leaving significant opportunities for manufacturers of targeted cancer drugs. However, high developmental costs, stringent regulatory policies andlow awareness are some of the restraints that could impede the growth of the market.
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Some of the market players in this industry segment are Abbott Laboratories, Bayer HealthCare AG, Boehringer Ingelheim GmbH, CytokineticsInc., GlaxoSmithKline plc, Hospira Inc. , OncoGenex Pharmaceuticals Inc., and others.
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