PARP Inhibitor Market to Surpass US$ 8,818.4 Mn by 2027

Global PARP Inhibitor Market, by Drug Type (Niraparib (Zejula), Olaparib (Lynparza), Rucaparib (Rubraca), and Talazoparib (Talzenna)), by Application (Ovarian Cancer, Breast Cancer, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 887.7 million in 2018, and is projected to exhibit a CAGR of 32.4% over the forecast period (2019–2027), as highlighted in a new report published by Coherent Market Insights.

Increasing global prevalence of cancer has led to rising demand for efficient drug products. Several manufacturers and research institutes are conducting studies using PARP inhibitors for the treatment of cancer. For instance, in June 2019, researchers from the University of Montreal Hospital Research Centre (CRCHUM) developed a two-step combination therapy for treatment of ovarian cancer.

Moreover, the combination of chemotherapy and PARP inhibitors can help in reducing proliferation of cancer cells. Therefore increasing research and development in cancer treatment is expected to offer lucrative opportunities for manufacturers in the PARP inhibitor market to commercialize new drugs.

In July 2019, Evotec formed a spinoff company Breakpoint Therapeutics, which will be responsible for development of first-in-class drugs targeting cancer cells by destroying their DNA repair mechanism. Moreover, Evotec raised around US$ 36 Mn for the development of drugs that can block DNA repair mechanism in drug resistant cancer.

Furthermore, increasing government support to spread awareness about novel cancer treatments is expected to drive the global PARP inhibitor market growth over the forecast period. For instance, in February 2019, the government of Australia announced an investment of US$ 1.6 Mn in a project called the Ovarian Cancer Australia, which aims to provide psychosocial support and care to ovarian cancer patients in Australia through Telehealth. According to reports from the government of Australia, there are nearly 400 high risk ovarian cancer patients who could benefit from the project.

Browse 36 Market Data Tables and 30 Figures spread through 147 Pages and in-depth TOC on “PARP (Poly ADP-Ribose Polymerase) Inhibitor Market” Global Forecast to 2027, by Drug Type (Niraparib (Zejula), Olaparib (Lynparza), Rucaparib (Rubraca) and Talazoparib (Talzenna)), by Application (Ovarian Cancer, Breast Cancer, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the global PARP inhibitor market, click the link below:

https://www.coherentmarketinsights.com/market-insight/parp-inhibitor-market-3037

Key players in the market are focused on adopting collaboration and acquisition strategies to enhance their market share. Such activities are also expected to promote research and development of new therapies for treatment of ovarian and breast cancer. In February 2019, Clovis Oncology, Inc. announced a research collaboration with Alkermes plc. for evaluation of Alkerme’s ALKS 4230 investigational interleukin-2 (IL-2) variant immunotherapy in combination with Clovis’ anticancer product rucaparib and lucitanib.

Key Takeaways of the Global PARP Inhibitor Market:                             

  • The global PARP inhibitor market is expected to exhibit a CAGR of 32.4% over the forecast period owing to increasing incidence of cancer. According to World Health Organization’s 2018 statistics, cancer is the second leading cause of death globally, and was responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths occur due to cancer.
  • Among drug types, the Olaparib (Lynparza) segment dominated the global PARP inhibitor market in 2018 owing to increasing number of product approvals in developed and emerging economies around the globe. For instance, in May 2019, AstraZeneca plc. and Merck received the Health Canada approval for Lynparza as a monotherapy maintenance treatment for patients with advanced BRCA-mutated high-grade epithelial ovarian, fallopian tube, or primary peritoneal cancer.
  • Among application, the ovarian cancer segment held the dominant position in the global PARP market in 2018, as PARP inhibitors are largely used for treatment of ovarian cancer
  • Among distribution channel, the hospital pharmacies segment held a dominant position in the global PARP inhibitor market in 2018, as physician access as well as relevant medications are both available at hospital pharmacies
  • Key players operating in the global PARP Inhibitor market are AstraZeneca Plc., Johnson & Johnson, GlaxoSmithKline plc., Pfizer, Inc., Clovis Oncology Inc., AbbVie Inc., Bristol – Myers Squibb, Merck KGaA, Genentech, Inc., Repare Therapeutics Inc., Sierra Oncology, Inc., Karyopharm Therapeutics Inc., Ono Pharmaceutical Co., LTD., and Jiangsu Hengrui Medicine Co., Ltd.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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