DNA repair is a process through which the cell repairs damage caused to the DNA molecules that encode its genome. DNA repair is vital in the cancer biology field and forms an important component for cancer diagnosis and treatment. Deep knowledge of DNA repair mechanisms in normal as well as cancer cells leads to better management of cancer. This is where DNA repair drugs benefit individuals diagnosed with cancer. The DNA repair drugs market expects a rise in the growth rate owing to the increasing number of collaborations and acquisition activities in the forecast period of 2020-2030.
Drug Developers Increasing Stakes in Antitumor Research to Spur New Prospects
PARP is a critical protein that prevents DNA damage in cancer cells through genetic mutations. Various DNA repair drugs inhibit this protein to tackle cancer cells by the accumulation of DNA damage, eventually leading to the death of cancerous cells. Recent studies have also found that PARP1 inhibitors are also beneficial for delaying the progression of prostate cancer. Olaparib, a drug belonging to the class of PARP1 inhibitors that treats breast and ovarian cancer, is also beneficial for delaying prostate cancer progression. A study conducted by the New England Journal of Medicine showed that Olaparib was effective for prostate cancer patients. This can prevent the growth of advanced prostate cancer. Such developments benefit the DNA repair drugs market to a great extent.
Many new players are entering the DNA repair drugs market for manufacturing drugs that could serve as cancer killers by sabotaging their DNA repair machinery. Breakpoint Therapeutics, a Germany-based startup established by Evotec, aims to develop oncology drugs that can facilitate the cure of therapy-resistant cancers. Accelerating early projects through discovery and pre-clinical development for delivering the first investigational new drug (IND)-ready drug by 2022 are prime objectives of the startup. In another development, Clovis Oncology Inc. collaborated with Bristol-Myers Squibb Company and Foundation Company Inc. to initiate phase 2 study for evaluating rucaparib in combination with nivolumab in patients with endometroid ovarian cancer or high-grade serous carcinoma (HGSC).
Myriad Genetics recently developed BRACAnalysis CDx, a companion diagnostic kit that has been approved for use with olaparib for detecting mutations in the BRCA genes. Such developments are of great importance for accelerating the growth rate of the DNA repair drugs market.
Investment in discovering new DNA repair drugs is also on the rise. Evotec, Medicxi, the UK-based life sciences investor and Taiho Ventures, the investment arm of Japanese pharma company Taiho Pharmaceutical has pumped $33.7 million as initial funding for research and development activities. Key players in the DNA repair drugs market are AstraZeneca, Johnson & Johnson Services Inc., Pfizer Inc., Bristol-Myers Squibb Company, Clovis Oncology, and GlaxoSmithKline.
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Government Support Proving to be a Boon for DNA Repair Drugs Market
Governments of various countries are coming up with different initiatives for increasing awareness regarding cancer. A well-developed health infrastructure through making significant investments may boost the growth rate of the DNA repair drugs market.
The DNA repair drugs market has a presence in the regions of North America, the Middle East and Africa, South America, Europe, and Asia Pacific. North America expects to dominate the DNA repair drugs market during the forecast period. The regional market is proving to be a breeding ground for new investors because of frequent new product launches and the adoption of technologically advanced products. Asia Pacific may also observe substantial growth in the forecast period as the number of cancer patients in the region is consistently on the rise. Supportive government initiatives and growing awareness among people about cancer are significant factors that serve as growth multipliers for the DNA repair drugs market.
