Market Challenges And Opportunities

Global Small Molecule Cancer Drugs Market Drivers

Approvals for small molecule cancer drugs by regulatory bodies to key players are expected to boost the global small molecule cancer drugs market growth. For instance, in May 2019, U.S. Food & Drug Administration (FDA) approved a drug, Piqray in combination with fluvestrant, which is manufactured by Novartis AG. It is the first ever drug that is specifically being used for the treatment of HR/HER2-, PIK3CA mutated advanced breast cancer.

Similarly, in April 2019, Janssen Pharmaceutical Company received U.S. FDA approval for Balversa (erdafitinib). It is indicated for the treatment of FGFR3 or FGFR2 mutated, locally advanced urothelial carcinoma. The type of study was multicenter, open-label, single-arm trial and comprised 87 participants diagnosed with locally advanced or metastatic urothelial carcinoma and had progressed on or after at least one prior chemotherapy.

Furthermore, key players are also focused on growth strategies such as collaborations, mergers and acquisitions to gain competitive edge in the market. For instance, in June 2019, Pfizer Inc., a pharmaceutical company acquired Array Biopharma, a drug developer company for expansion of its product portfolio. The product portfolio of Array Biopharma includes drugs for the treatment of skin cancer and combination of drugs (Braftovi and Mektovi) used for the treatment of last-stage colorectal cancer. These factors are expected to support global small molecule cancer drugs market growth.

Global Small Molecule Cancer Drugs Market Restraints

Side-effects of drugs is expected to hamper the global small molecule cancer drugs market growth. The side-effects depend mainly upon the type of cancer and the overall health of the patient. It can cause muscle pain, headache, fatigue, mouth sores, nausea, vomiting, throat sores, diarrhea, and constipation. As these drugs effect healthy cells, in turn, affecting the process of regenerating new blood cells. Hence, this factor may obstruct the global small molecule cancer drugs market growth.