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:
- 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
Global PARP Inhibitors Market, by Drug Type
Global PARP Inhibitors Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global PARP Inhibitors Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.