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Histone Deacetylase (HDAC) Inhibitors Market Drivers, Key Players, Share, Market Size And Forecast To 2033
Histone Deacetylase (HDAC) Inhibitors Market Drivers
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According to The Business Research Company's, The histone deacetylase (HDAC) inhibitors market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to a rise in funding for epigenetic research, rising prevalence of drug-resistant cancers, rise in healthcare expenditure, increasing utilization of HDAC inhibitors in veterinary medicine, and increasing investment in bioinformatics.
The histone deacetylase (HDAC) inhibitors market size is expected to see strong growth in the next few years. It will grow to $1.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to the rising incidence of neurodegenerative disorders, growing awareness about cancer, rising investment in drug development, growing number of clinical trials, and increasing adoption of personalized medicine. Major trends in the forecast period include technological advancements, personalized medicine, cancer immunotherapy synergies, integration of digital health solutions, and bioinformatics.
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Market Drivers and Trends:
The rising incidence of neurodegenerative disorders is expected to propel the growth of the histone deacetylase (HDAC) inhibitors market going forward. Neurodegenerative disorders, characterized by the progressive degeneration and death of neurons in the brain and spinal cord, lead to cognitive and motor dysfunction and include diseases such as Alzheimer's, marked by memory loss and cognitive decline due to amyloid plaques and tau tangles. The rising incidence of neurodegenerative disorders can be attributed to several factors, such as age, longevity, genetics, and environmental factors. Histone deacetylase (HDAC) inhibitors are being explored as potential treatments for neurodegenerative disorders due to their ability to modulate gene expression and provide neuroprotective effects. For instance, in March 2021, according to the National Institutes of Health (NIH), a US-based government agency, currently, 6.2 million older Americans are living with Alzheimer's dementia, and this number is projected to increase to 13.8 million by 2060. Therefore, the rising incidence of neurodegenerative disorders is driving the growth of the histone deacetylase (HDAC) inhibitors market.
Major companies operating in the histone deacetylase (HDAC) inhibitors market are focused on developing innovative solutions, such as HDAC inhibitors for cancer treatment, to enhance efficacy and reduce side effects. Histone deacetylase (HDAC) inhibitors are a class of pharmaceutical compounds used in cancer treatment. They function by inhibiting the activity of HDAC enzymes, which generally remove acetyl groups from histone proteins. This inhibition leads to increased acetylation of histones, altering chromatin structure and influencing gene expression. For instance, in September 2023, Shuttle Pharmaceuticals Holdings Inc., a US-based company that develops first-in-class therapies for cancer, was awarded New HDAC Inhibitor Patents for Cancer Treatment by the U.S. Patent and Trademark Office. These innovative inhibitors are tailored to target specific HDAC enzymes implicated in cancer progression, aiming to disrupt aberrant gene expression patterns that contribute to tumor growth and metastasis. The patented compounds demonstrate enhanced potency and selectivity, minimizing off-target effects and improving safety profiles for patients undergoing treatment.
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Major Key Players of the Market:
Bristol-Myers Squibb Company, Novartis AG, Merck KGaA, Abcam plc, Pharmacyclics LLC, R&D Systems Inc., Tenaya Therapeutics Inc., Syndax Pharmaceuticals Inc., Italfarmaco SpA, InvivoGen Corporation, TCI Chemicals (India) Pvt. Ltd., 4SC AG, Medivir AB, Mirati Therapeutics Inc., Spectrum Pharmaceuticals Inc., Curis Inc., Acetylon Pharmaceuticals Inc., Oryzon Genomics SA, Xynomic Pharmaceuticals Inc., Celleron Therapeutics Ltd., Midatech Pharma PLC, Karus Therapeutics Ltd., Shenzhen Chipscreen Biosciences Co. Ltd.
Histone Deacetylase (HDAC) Inhibitors Market 2024 Key Insights:
• The histone deacetylase (HDAC) inhibitors market size is expected to see strong growth in the next few years. It will grow to $1.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Rising Neurodegenerative Disorders Drive Growth In HDAC Inhibitors Market
• Shuttle Pharmaceuticals Advances Cancer Treatment With New HDAC Inhibitor Patents
• North America was the largest region in the histone deacetylase (HDAC) inhibitors market in 2023
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