by DNA repair drugs play a vital role in treatment of various genetic disorders and cancers by repairing damaged DNA caused due to external or internal factors. These drugs correct errors in DNA sequences by facilitating removal of damaged or incorrect bases and replacing them with correct ones. They help in restoring normal DNA functioning, thereby preventing abnormal cell growth. The major DNA repair pathways targeted include base excision repair, nucleotide excision repair, direct repair and mismatch repair. Continuous research focused on understanding DNA damage response pathways and cellular repairs mechanisms is fueling the development of novel and effective DNA repair drugs with reduced side effects.
The global DNA repair drugs market is estimated to be valued at US$ 6.28 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing prevalence of genetic disorders such as cystic fibrosis, Huntington’s disease and various cancers due to DNA damage is majorly driving the demand for DNA repair drugs. According to the World Health Organization, cancer burden is expected to grow to 27 million new cancer cases and 17 million cancer deaths by 2030 worldwide. Moreover, rising investments by key players in R&D for development of precision medicines targeting specific DNA repair pathways linked to disease pathogenesis is expected to positively impact the market growth over the forecast period. Additionally, strategic collaborations between pharmaceutical companies and research institutes in order to accelerate drug discovery and preclinical development of drugs targeting novel repair pathways present lucrative opportunities for market expansion.
Porter’s Analysis
Threat of new entrants: The DNA Repair Drugs market size requires high R&D investment and established distribution network. This creates significant barriers for new entrants.
Bargaining power of buyers: Large pharmaceutical companies having significant bargaining power over smaller biotech firms developing DNA repair drugs.
Bargaining power of suppliers: Suppliers of raw materials used in DNA repair drugs such as chemicals have low bargaining power due to availability of substitute suppliers.
Threat of new substitutes: Development of new biomolecular targets and precision medicines poses threat of substitution to existing DNA repair drugs.
Competitive rivalry: Global DNA Repair Drugs market is highly competitive with major players differentiating through continuous innovation.
Key Takeaways
The global DNA Repair Drugs market is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing prevalence of cancer globally. The market size for 2023 is estimated to be US$ 6.28 Bn.
Regional analysis: North America is expected to dominate the global DNA Repair Drugs market during the forecast period. This is attributed to presence of major players and advanced healthcare infrastructure in the region. Asia Pacific is anticipated to exhibit the fastest growth rate owing to rising healthcare spending and increasing cancer incidence.
Key players operating in the DNA Repair Drugs market are AbbVie Inc.,Amgen Inc.,AstraZeneca PLC,Bayer AG,Bristol-Myers Squibb Co.,Eli Lilly and Co.,F. Hoffmann-La Roche AG,Gilead Sciences, Inc.,GlaxoSmithKline PLC,Johnson & Johnson,Merck & Co., Inc.,Merck KGAA,Novartis AG,Pfizer Inc.,Sanofi S.A. Major players are focused on developing innovative drugs through strategic collaborations and acquisition of smaller biotech companies working on niche targets.
