by PARP inhibitors are a class of drugs used to treat cancers with mutations in certain genes involved in repairing single-strand DNA breaks. They work by inhibiting poly (ADP-ribose) polymerase enzymes, which play an important role in DNA repair. PARP inhibitors have demonstrated clinical activity against cancers with defects in the homologous recombination repair pathway, including germline BRCA1/2 mutations and tumor BRCA1/2 deficiency. Some key applications of PARP inhibitors include treatment of breast cancer, ovarian cancer, pancreatic cancer, and prostate cancer.
The global PARP inhibitor market is estimated to be valued at US$ 6.13 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rising Applications in Oncology: PARP inhibitors are currently being explored for potential use against several cancer types other than ovarian cancer alone due to their ability to exploit DNA repair deficiencies. Clinical trials are underway to evaluate PARP inhibitors in breast cancer, prostate cancer, pancreatic cancer, and other tumor types associated with defects in homologous recombination. As the roles of PARP inhibitors continue to expand in oncology, their demand and uptake is expected to significantly rise over the forecast period.
Growing Clinical Validation: Over the past few years, several late-stage clinical trials have demonstrated success of PARP inhibitors in expanding treatment options for cancer patients. For instance, in 2017, olaparib received FDA approval for germline BRCA-mutated HER2-negative metastatic breast cancer. In 2018-19, niraparib and rucaparib were approved for late-stage ovarian cancer maintenance therapy based on positive Phase 3 trial results. As more Phase 3 trials conclude and regulators approve the new indications, clinical validation of PARP inhibitors will continue to grow.
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Segment Analysis
PARP inhibitors are used extensively for the treatment of BRCA mutated breast cancer, as these mutations account for around 5-10% of all breast cancer cases. Within the breast cancer segment, later stage cancers with BRCA mutation have emerged as the largest sub-segment currently. This is because PARP inhibitors have proven highly effective in treating metastatic cancers with BRCA mutations.
PEST Analysis
Political: The pharmaceutical industry witnesses high regulatory oversight and changes in regulatory policies regarding approval of new drugs can impact the PARP inhibitor market. However, favorable regulations for orphan drugs boost the market.
Economic: Growing healthcare spending globally has increased funding for cancer research and drug development, augmenting market growth. However, pricing pressures may hamper revenue streams.
Social: Rising cancer incidence globally due to changing lifestyle factors and growing awareness about targeted cancer therapies drives market demand.
Technological: Extensive R&D has led to discovery of new PARP inhibitors and their indications. Ongoing clinical trials evaluate applications in other cancer types indicating scope for market expansion.
Key Takeaways
Global PARP Inhibitor Market Trends are expected to witness high growth over the forecast period supported by rising cancer incidence and increasing adoption of targeted therapies.
The North American region currently accounts for the largest share of the global PARP inhibitor market led by high healthcare spending as well as early availability of new drugs in the region.
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. The growth prospects for advanced prostate, gastric and other cancers hold potential to drive future expansion opportunities for key market players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
