NEW YORK, The HDAC (histone deacetylase) inhibitors market to grow by USD 162.42 mn from 2021 to 2026. The growth momentum of the market will decelerate at a CAGR of 7.40%, according to Technavio. The market is segmented by route of administration (oral HDAC inhibitors and parenteral HDAC inhibitors) and geography (North America, Europe, Asia, and ROW).
The HDAC (histone deacetylase) inhibitors market covers the following areas:
HDAC (Histone Deacetylase) Inhibitors Market Sizing
HDAC (Histone Deacetylase) Inhibitors Market Forecast
HDAC (Histone Deacetylase) Inhibitors Market Analysis
Drivers and Challenges
The high target affinity and specificity are driving the growth of the HDAC (histone deacetylase) inhibitors market growth. HDAC inhibitors demonstrate promising results in cancer treatments. This is further promoting the R&D teams to conduct research for other applications such as neurologic conditions. These inhibitors have the quality of inducing differentiation, cell-cycle arrest, and apoptosis. They also inhibit migration, invasion, and angiogenesis in many cancer cell lines. Unlike conventional therapies, these drugs work directly on the target. Therefore, their efficacy is higher than the conventional treatments. The mechanism of action (MoA) of this drug class is target-specific, which makes it a potential single solution for many diseases, such as neurological disorders and carcinomas, among both medical practitioners as well as patients. These factors are driving the market growth.
High costs associated with treatment are challenging the HDAC (histone deacetylase) inhibitors market growth. Many HDAC inhibitors are used in combination with the substitutes such as surgery and radiation therapies, which increases the cost burden of the treatment significantly. The high cost of cancer treatment is mainly due to hospitalization, laboratory tests, and novel therapies. In developing and underdeveloped countries, the cost of treatment with HDAC inhibitors is very high. Such high treatment costs act as a barrier for drug adoption, which reduces the patient base and poses a challenge to market growth.
Key Vendor Analysis
The HDAC (histone deacetylase) inhibitors market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Bristol Myers Squibb Co., Eisai Co. Ltd., GNT Biotech and Medicals Corp., Huya Bioscience International LLC, Italfarmaco Spa, Merck and Co. Inc., Novartis AG, Onxeo SA, Shenzhen Chipscreen Biosciences Co. Ltd., and Spectrum Pharmaceuticals Inc., among others, are some of the key vendors operating in the market. The key offerings of a few vendors are listed below:
Bristol Myers Squibb Co. – The company offers HDAC inhibitors products for peripheral T-cell lymphoma.Eisai Co. Ltd. – The company offers HDAC inhibitors products such as HBI-8000.GNT Biotech and Medicals Corp. – The company offers HDAC inhibitors products for cancer immunotherapy.Huya Bioscience International LLC – The company offers HDAC inhibitors products such as HBI-8000, HBI-3800, and HBI-2376.Italfarmaco Spa – The company offers HDAC inhibitors products such as Fripass.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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