Market Size of DNA Repair Drugs Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 13.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
DNA Repair Drugs Market Analysis
The DNA repair drugs market is expected to register a CAGR of nearly 13% over the forecast period.
- COVID-19 impacted the growth of the DNA repair drugs market. The pandemic resulted in the disruption of services for patients suffering from cancer which has affected the demand for DNA repair drugs.
- For instance, according to a study published in the Journal of Breast Cancer in December 2021, it has been observed that the number of breast cancer diagnoses decreased by 9.9% during the pandemic period in South Korea. Thus, the decreased cancer diagnosis significantly reduced the demand for drugs. This has impacted the market growth during the pandemic. However, with the released restrictions and resumed diagnosis and treatment services, the studied market is anticipated to grow over the forecast period.
- Factors such as the growing burden of cancer worldwide and increasing research and development for novel drugs and treatments are boosting market growth. The incidence and prevalence of various types of cancer are growing rapidly due to lifestyle changes along with the factors that increase the risk of developing cancer, such as increasing consumption of alcohol and smoking, obesity, as well as a family history of cancer. This is expected to increase the demand as well as the need to develop effective and safe cancer drugs, hence propelling market growth.
- For instance, according to the data published by ICMR-National Cancer Registry Programme, in December 2022, about 1,461,427 cancer cases were reported in India in 2022 as compared to 1,426,447 cancer cases in 2021. Thus, the increased number of cancer cases among the population further fuel the demand for DNA repair drugs, hence propelling the market growth. Furthermore, the rising company focus on research and development of novel drugs for treating cancer are also contributing to the market growth. For instance, in August 2021, Artios Pharma raised EUR 129 million in a Series C round of funding to develop cancer drugs that target the DNA repair systems of cells.
- Moreover, as per an article published in Bioengineering Journal in July 2022, it has been found that innovative learning algorithms help in developing the desired chemical properties necessary for novel compounds, and the introduction of artificial intelligence (AI) has significantly advanced in silico design of anticancer drugs. Thus, the rapidly evolving AI technology is expected to have a large impact on the research and development activities for cancer drugs shortly. This is expected to boost market growth.
- Therefore, owing to the factors such as the high prevalence of cancer and growing company activities, the studied market is expected to grow over the forecast period. However, the strict regulation for product approvals is likely to impede the growth of the DNA repair drugs market over the forecast period.
