Market Overview:
DNA repair drugs are therapeutic agents used for targeting DNA repair pathways in cancer cells. DNA repair pathways such as Homologous Recombination Repair (HRR) and Base Excision Repair (BER) play a vital role in maintaining genomic stability and preventing cancer initiation. DNA repair drugs inhibit these pathways in cancer cells to halt tumor progression and induce death in cancer cells. The key advantages of DNA repair drugs include high precision and specificity in targeting cancer cells while sparing normal cells. This reduces side effects often associated with traditional chemotherapy. The growing need for targeted therapies in cancer treatment is fueling the demand for DNA repair drugs worldwide.
Market Key Trends:
One of the key trends driving the DNA Repair Drugs Market Growth is the rising prevalence of cancer worldwide. According to the World Health Organization (WHO), cancer is the second leading cause of death globally, accounting for an estimated 9.6 million deaths in 2018. The four major types of cancer contributing to maximum deaths are lung cancer, liver cancer, colorectal cancer and breast cancer. Increasing incidence of such cancers is expected to surge the demand for DNA repair drugs in treatment. Additionally, growing geriatric population prone to developing cancer is also propelling the use of DNA repair drugs. Government support in the form of funding for cancer research and awareness initiatives is further supporting the market growth.
Porter’s Analysis
Threat of new entrants: The DNA repair drugs market has moderate threat of new entrants due to the need for heavy investments for R&D and drug development. There are also stringent regulations for approval of new drugs.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of alternative treatment options. However, the life threatening nature of diseases increases buyers’ dependence on these drugs.
Bargaining power of suppliers: The bargaining power of suppliers is high given the specialized manufacturing expertise and raw materials required. Suppliers can influence prices.
Threat of new substitutes: The threat of new substitutes is low as DNA repair drugs offer targeted treatments. However, alternative treatment include chemotherapy and radiotherapy pose a medium threat.
Competitive rivalry: The competitive rivalry is high among existing players due to their focus on product innovation and launches.
Key Takeaways
The global DNA repair drugs market is expected to witness high growth, exhibiting CAGR of 32.4% over the forecast period, due to increasing incidence of cancer globally. The rising preference for personalized medicines and targeted therapies is also driving the market.
Regional analysis
North America dominated the global market in 2023 and is expected to remain the largest market during the forecast period owing to increased adoption of targeted therapies and high healthcare expenditure. However, Asia Pacific is anticipated to grow at the fastest rate due to rising disposable incomes, growing awareness and improving healthcare infrastructure in emerging nations.
Key players
Key players operating in the DNA repair drugs market are AstraZeneca Plc., Johnson & Johnson, GlaxoSmithKline plc., Pfizer, Inc., Clovis Oncology Inc., AbbVie Inc., Bristol – Myers Squibb, Merck KGaA, Genentech, Inc., Repare Therapeutics Inc., Karyopharm Therapeutics Inc., Ono Pharmaceutical Co., LTD., and Jiangsu Hengrui Medicine Co., Ltd. Companies are focusing on gaining approvals for new drugs and expanding in emerging markets through collaborations.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
