PARP Inhibitors Market: Introduction
- A PARP (poly ADP-ribose polymerase) inhibitor is a substance that blocks PARP enzyme in the cell. DNA damage occurs during cancer. Blocking of PARP helps the cancer cells in repairing the damaged part of their DNA.
Key Drivers, Restrains and Opportunities of Global PARP Inhibitors Market
- Focus of key players on research and development to develop new products is anticipated to drive the market. For instance, in May 2020, Food and Drug Administration approved Niraparib poly ADP-ribose polymerase (PARP) inhibitor monotherapy for first line treatment for ovarian cancer. In November 2020, AstraZeneca and MSD’s Lynparza (olaparib) received approval from the European Union (EU) for patients with metastatic castration-resistant prostate cancer (mCRPC) with breast cancer.
- Moreover, increase in prevalence of cancer globally is likely to boost the global PARP inhibitors market. For instance, according to The Surveillance, Epidemiology and End Results (SEER) Program in United States, in 2016, approximately 229,875 women were alive who had been diagnosed with ovarian cancer.
- Strategic development by market players further propels the market. For instance, in December 2018, GlaxoSmithKline acquired Tesaro, a PARP inhibitor developer, for US$ 5.1 billion. This acquisition enabled Glaxo to strengthen its pharmaceuticals business by accelerating the build of oncology pipeline and commercial footprint, along with providing access to new scientific capabilities.
- Furthermore, an increase in demand for PARP inhibitors due to their efficacy is likely to augment the PARP inhibitors market
- However, high costs related to clinical trials, stringent regulatory requirement, and frequent product recalls are key factors that hinder the market
- Increase in focus of governments of developing countries to improve healthcare access, increase in awareness regarding advanced technologies, and a surge in geriatric population are major factors that are likely to create significant opportunities for the PARP inhibitors market
North America to Dominate Global PARP Inhibitors Market
- In terms of region, the global PARP inhibitors market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global PARP inhibitors market during the forecast period.
- New product launches, presence of key market players with strong focus on research and development, and rising prevalence of cancer are expected to drive the PARP inhibitors market in the region during the forecast period
- The PARP inhibitors market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. Investment by key players in developing countries to address the unmet needs and strengthen their market position is likely to further augment the PARP inhibitors market
Key Players Operating in Global PARP Inhibitors Market
The global PARP inhibitors market is fragmented with the presence of international as well as local players. A large number of manufacturers hold a major share in their respective regions. Demand for PARP inhibitors products has increased in emerging as well as developed markets. Growth strategies adopted by leading players are likely to drive the global market.
Key players operating in the global PARP inhibitors market are:
- GlaxoSmithKline
- AstraZeneca
- CLOVIS ONCOLOGY
- AbbVie Inc
- Pfizer Inc.
- Repare Therapeutics, Inc.
- Johnson & Johnson Services, Inc
Global PARP Inhibitors Market: Research Scope
Global PARP Inhibitors Market, by Indication
- Breast Cancer
- Ovarian cancer
- Prostate cancer
- Pancreatic cancer
- Others
Global PARP Inhibitors Market, by Drug Type
- Olaparib
- Niraparib
- Rucaparib
- Talazoparib
- Veliparib
- Others
Global PARP Inhibitors Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global PARP Inhibitors Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
