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:
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:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.