The future of the Small Molecule market is likely to be impacted by several factors, including:
Increasing demand for personalised and targeted therapies
Advancements in synthetic chemistry
Increasing pressure to reduce healthcare costs
Additionally, the growing importance of biologics and biosimilars is likely to drive growth in the Small Molecule market, as they offer new treatment options for a range of conditions and diseases. However, increasing regulatory scrutiny, competition from generic drugs, and the high cost of drug development are some of the challenges that may limit the growth of the Small Molecule market in the future.
In some industry discussions, there is a stigma that although Small Molecules currently make up the largest portion of the Pharma industry, they are on the decline and will soon be overtaken by Large Molecules. How true is this?
The global Small Molecule API market size was valued at USD 175.31 billion in 2021 with expected growth at a compound annual growth rate of 5.44% from 2022 to 2030 to reach USD 282.50 billion by 2030.
The NCBI (National Center for Biotechnology Information) also confirms that 75% of drugs accepted by the FDA are Small Molecules, with oncology being the dominant therapeutic area. Moreover, 50% of these approvals were from small-mid size companies which require support from CDMOs for commercialisation of products. This has in turn enhanced the growth rates of CDMOs.
Why is there a continued influx of funding in the Small Molecule market?
It could be argued that one reason for increased funding for Small Molecules is the fact that chronic diseases are on the rise. According to the British Heart Foundation's August 2022 statistics, there were around 7.6 million people in the United Kingdom living with some form of heart or cardiovascular disease in 2021. There were 19.3 million new cases of cancer in 2020 and this number is expected to reach 30.2 million by 2040. Such an increase in chronic diseases is expected to increase the demand for treatments, and ultimately the demand for Small Molecules in the future.
Mantell Associates is a specialist Pharmaceutical and Life Sciences headhunting firm with our headquarters based in Central London, with specialist departments in both Small and Large Molecules. To find out how we can assist with your business requirements or if you are looking for your potential next step in your career, contact Ewan Rennison on +442038547739.