DNA repair drugs help in tackling damaged DNA by enabling repair mechanisms. Rising incidence of cancer worldwide has boosted the demand for DNA repair drugs extensively. The global DNA Repair Drugs Market is estimated to be valued at US$ 7.24 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing investment in R&D drives innovation
One of the primary factors propelling the growth of the Global DNA Repair Drugs Market Size is the increasing investment in research and development activities by key players. Companies are investing heavily in developing novel drug molecules with improved efficacy and reduced side effects. Furthermore, with rising cases of cancer globally, players are focusing on identifying new targets and advancing the understanding of DNA damage response pathways. This has led to introduction of several innovative drug candidates currently under clinical trials. Such extensive investment in R&D is expected to drive market growth during the forecast period.
Segment Analysis
The global DNA Repair Drugs market is dominated by DNA damage response segment, which accounts for around 65% of the total market share. This is because DNA damage response plays a vital role in maintaining genome integrity by initiating the repair of lesions formed due to environmental stress or DNA replication errors. Such a response involves detecting DNA damage by sensor proteins, signaling the presence of lesions by transducer proteins, and repairing them by effector proteins.
Key Takeaways
The global DNA Repair Drugs market is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis: North America is currently the dominant region in the global DNA Repair Drugs market and accounts for over 40% of the global market share. This is due to the strong presence of leading biotech and pharmaceutical companies in the region engaged in DNA repair drug research and development. The region is expected to maintain its dominance over the forecast period supported by increasing R&D investments, advanced healthcare infrastructure, and high adoption of novel therapies.
Key players operating in the DNA Repair Drugs market include Accenture Plc, Bristol-Myers Squibb, Clinquest Group B.V., Cognizant Technology Solutions, Covance, Inc., GlaxoSmithKline, ICON, Plc, iGATE Corporation, Arriello, iMEDGlobal Corporation, Diamond Pharma Services, Infosys, Ergomed plc, inVentiv Health Inc., APCER Life Sciences, ArisGlobal, and Johnson and Johnson. Bristol-Myers Squibb leads the market with its PARP inhibitor drug niraparib (Zejula) approved for ovarian cancer treatment.
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