New report on Small Molecule Targeted Cancer Therapy type market is segmented into monoclonal antibodies, small molecules and small molecule drug conjugates. Monoclonal antibodies can be further segmented into fully human antibody (with an immune system target), chimeric monoclonal antibody (with a tumor target) and humanized monoclonal antibody (with a circulatory system target). Small Molecules can also be further segmented into small molecule cyclin-dependent kinase inhibitor, small molecule proteasome inhibitor and small molecule tyrosine kinase inhibitor. Small Molecules segment is the largest revenue generating segment due to its kinase inhibitor that can provide relatively more protection to the normal cells. It can efficiently destroy the selected target cells and prevent the growth of the tumor. Small Molecule Targeted Cancer Therapy is the medication that blocks the cancerous cells growth by destroying the targeted molecules that result in the growth of tumor and carcinogenesis. Conventional chemotherapies and cytotoxin medications destroy the division of cancerous cells by inhibiting the process of cell division. Targeted Cancer therapy is considered to be more effective than the conventional methods and prevent normal cells from harmful radiations. Small Molecule Targeted Cancer Therapy has broad spectrum of application in multiple myeloma, melanoma, prostate cancer, lymphoma, breast cancer, and all other cancers.
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Small Molecule Targeted Cancer Therapy has a targeted approach and minimal after side- effects; this results into increased rate of adoption of the therapy by the end users. This is the major factor that is driving the growth of the market. Moreover, increase in the rate of cancer incidences is also contributing to the growth of the market. The substantial hurdle for the growth of the market is the rate of the approved chemical drugs that is declining every year due to stringent regulations. In addition, low awareness among end-users and high operational cost are also hampering the growth of the market. Drugs that are losing their patents such as Norvartis’s Glivec are unlocking the door of opportunity for the manufacturers of the Small Molecule Targeted Cancer Therapy.
The report analyzes various macro environments of the Small Molecule Targeted Cancer Therapy market using porter’s analysis. According to porter’s analysis, the bargaining power of the supplier is high due to high cost of switching. The bargaining power of buyer is low due to the specialized products of Small Molecule Targeted Cancer Therapy market and threat of substitute is low due to unavailability of alternate products.
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