by PARP inhibitors are a class of anticancer drugs used to treat cancers with defective homologous recombination repair, including BRCA mutation-associated ovarian and breast cancers. The drugs inhibit the activity of poly ADP-ribose polymerase (PARP) proteins, which are involved in DNA repair. This prevents cancer cells with DNA repair deficiencies from repairing DNA damage caused by chemotherapy or radiotherapy, ultimately leading to cell death. PARP inhibitors such as Olaparib and Veliparib have demonstrated promising clinical activity against several tumor types like ovarian cancer, prostate cancer and breast cancer.
The global PARP Inhibitor Market is estimated to be valued at US$ 6.13 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption of PARP inhibitors in oncology drug development is a major trend propelling the growth of the PARP inhibitor market. Several pharmaceutical companies are conducting clinical trials to evaluate the potential of PARP inhibitors against various cancers either as monotherapy or in combination with other drugs. For instance, AstraZeneca is evaluating Lynparza (Olaparib) in phase III PAOLA-1 trial for first-line maintenance treatment of advanced ovarian cancer in combination with bevacizumab. Similarly, Clovis Oncology is studying Rubraca (Rucaparib) in phase III TRITON3 trial for advanced prostate cancer in combination with Lynparza. The successful outcomes of ongoing studies will help expand approved indications and drive the uptake of PARP inhibitors in the coming years.
SWOT Analysis
Strength: PARP inhibitors are showing promising results in clinical trials for various cancers like breast, ovarian and prostate cancer. Their selective targeting of cancer cells helps in reducing side effects.
Weakness: High cost of R&D and drug discovery process increases the cost of PARP inhibitor drugs making it unaffordable for many cancer patients. Patent expirations of major drugs can increase competition.
Opportunity: Increasing incidence of cancer worldwide and growing focus on personalized medicine provides significant market opportunities. Discovery of new PARP inhibitors and their combination with other anticancer drugs opens up new avenues.
Threats: Strong pipeline of competing drug classes like immunotherapies and well established chemotherapy poses threat. Change in regulatory guidelines and delay in product approvals can negatively impact revenue.
Key Takeaways
Global PARP Inhibitor Market Trends are expected to witness high growth over the forecast period of 2023 to 2030.
Regional Analysis: North America is currently dominating the market due to strong research activities in the region and increasing adoption of novel cancer therapies. The United States contributes major market share in the region due to well established healthcare infrastructure and higher healthcare spending.
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. These companies are focusing on new product launches, collaborations and acquisitions to strengthen their market position. For instance, in 2022 Outotec Oyj acquired FLSmidth’s mining business to expand its mining equipment and service offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
