PARP (Poly ADP-Ribose Polymerase) inhibitors are drugs that act on the DNA damage response pathway by targeting PARP enzymes. PARP inhibitors have emerged as an important class of anti-cancer drugs as they can treat certain cancers with defective homologous recombination repair like BRCA gene mutations.
The Global PARP Inhibitor Market Size is estimated to be valued at US$ 7.07 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity for growth in the PARP inhibitor market lies in the increasing incidence of cancer worldwide. According to WHO, cancer is a leading cause of death globally, accounting for nearly 10 million deaths in 2020. The rising prevalence of cancer can be attributed to factors like growing geriatric population, increasing adoption of sedentary and unhealthy lifestyle. As PARP inhibitors have shown efficacy in treating cancers with BRCA mutations, their demand is expected to rise significantly with the growing cancer burden. The PARP inhibitor class holds immense potential to serve as a targeted anti-cancer treatment in the future. Researchers are also exploring the use of PARP inhibitors in combination with other anti-cancer drugs which can further expand their clinical applications.
Porter's Analysis
Threat of new entrants: The global PARP inhibitor market faces low threat of new entrants due to the high capital investment required for R&D activities and clinical trials. Bargaining power of buyers: The bargaining power of buyers is moderate as there are only a few established players offering PARP inhibitors. Bargaining power of suppliers: Suppliers have limited bargaining power due to the availability of substitute raw materials. Threat of new substitutes: The threat of new substitutes is low as PARP inhibitors have significant benefits over other cancer treatment options. Competitive rivalry: The competitive rivalry in the market is high due to the presence of a small number of global players.
SWOT Analysis
Strengths: Approved PARP inhibitors have demonstrated clinical efficacy. Increasing awareness about targeted cancer therapies.
Weaknesses: High costs associated with development and production. Requirement of companion diagnostics to identify patient population.
Opportunities: Large patient pool of cancers like ovarian and breast where PARP inhibitors are used. Ongoing R&D for expanding therapeutic applications.
Threats: Strong pipeline of other targeted cancer therapies. Potential side effects and resistance development.
Key Takeaways
The global PARP inhibitor market is expected to witness high growth over the forecast period due to the increasing incidence of cancer globally. The global PARP inhibitor market is estimated to be valued at US$ 7.07 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.
The market in North America is projected to dominate owing to the rising acceptance of targeted therapies and presence of major players. Europe is also estimated to hold a significant share in the market. Asia Pacific is anticipated to grow at the fastest rate during the forecast period. Improving healthcare infrastructure and increasing discretionary spending on cancer care are expected to boost the market in the region.
Key players
Key players operating in the PARP inhibitor market are FLSmidth & Co. A/S, Metso Oyj, Koppern Group, CITIC Heavy Industries Co. Ltd. (CITIC HIC), ThyssenKrupp Industrial Solutions AG (Polysius AG), SGS S.A., KHD Humboldt Wedag International AG, Outotec Oyj, and ABB Ltd.
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The Global PARP Inhibitor Biomarkers market held USD 465.6 million in 2020 and is to grow with a CAGR of 24.2% from 2020-2030.
It consists of a group of 17 enzymes combining several (poly) ADP-ribose units in a chain and transferring them into the target proteins.
It is believed that PARP inhibitors are trapped in single-strand DNA pauses that lead to dual-strand DNA pausing when replication of the DNA is attempted.
Double-stranded DNA breaks would normally be re-mediated by the HRR process, an advanced process that includes several proteins, particularly BRCA1 and BRCA2, which are also known as PARP inhibitors biomarkersMarket Dynamics and Factors:Download Research Sample with Industry Insights @ https://www.trendsmarketresearch.com/report/sample/13663The main drivers for PARP inhibitors biomarkers market growth are the increasing prevalence of cancer worldwide.
In total, around 1 in 6 deaths occur because of ca, according to the same source.Increasing breast and ovarian cancer incidences are also expected to lead to PARP inhibitors biomarkers market growth over the projected period.
Breast cancer was among the 2nd largest total number of cancer cases worldwide, for example according to a 2018 report by the World Cancer Research Fund, which in 2018 accounted for 2,088,849 new cases.
