LONDON--(BUSINESS WIRE)--The global HDAC inhibitors market is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global HDAC inhibitors market is the high prevalence of oncology conditions. The growing modernization has led to an increase in a stressful life, which has resulted in the incidence of various neurological conditions, such as stroke. Further, there has been a significant increase in the incidence of cancers such as female breast cancer, prostate cancer, lung and bronchus cancer, colon and rectum cancer, and corpus and uterus cancer. Thus, the high growth in various types of cancers and neurological conditions, coupled with high unmet need in the treatment landscape of these diseases will stimulate the growth of the global HDAC inhibitors market during the forecast period.
As per Technavio, increasing awareness about cancer will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global HDAC inhibitors market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global HDAC inhibitors market: Increasing awareness about cancer
Cancer has been one of the most prevalent factors behind human mortality over the last few decades. However, the growing awareness about cancer and related treatment options and advances in diagnostics and therapeutics have resulted in the steady decline of cancer-related mortality over the past few years. The decrease in mortality rate reflects patient awareness, which increases the adherence to a treatment regimen. Several national and international-level programs have been conducted to increase awareness about cancer and help in the diagnosis of the condition. For instance, organizations such as the National Cervical Cancer Coalition (NCCC) and the American Social Health Association (ASHA) carry out initiatives to create awareness about the prevention and control of cervical cancer.
“Therapies such as chemotherapy have adverse effects such as bone marrow suppression, diarrhea, and alopecia. Similarly, surgeries and radiation therapy are not useful in recurrent cancer. Hence, HDAC inhibitors are considered as one of the most suitable solutions for all these unmet needs owing to its proven efficacy in oncology applications. HDAC inhibitors are known to demonstrate promising results in cancer treatments, which is further encouraging R&D teams to research other applications such as neurological conditions,” says a senior research analyst at Technavio.
Global HDAC inhibitors market: Segmentation analysis
This market research report segments the global HDAC inhibitors market by RoA (oral HDAC inhibitors and parenteral HDAC inhibitors) and geographic regions (North America, Europe, Asia, and ROW).
The oral HDAC inhibitors segment held the largest HDAC inhibitors market share in 2018. Although the oral HDAC inhibitors will continue to account for the largest market share, the parenteral HDAC inhibitors segment will register the highest incremental growth during the forecast period.
The North America region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market dominance of North America can be attributed to the high prevalence of cancer and increasing need for innovative medications in the region.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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