The Global PARP Inhibitor Market size was valued at USD 924 million in 2018 and is projected to grow at a CAGR of 27.4% during the forecast period. PARP means poly (ADP-ribose) polymerase. It is a family of 17 enzymes that combine and transfer many (poly) units of ADP-ribose to the target proteins in a chain (the PAR chain). This helps restore DNA when it is damaged.
Many factors, including exposure to UV rays, radiation, certain anti-cancer drugs or other substances in the environment, can damage the DNA. An enzyme essential for repairing single strand DNA breaks is blocked by PARP inhibitors. Inhibition of this DNA repairing enzyme, especially in cancer cells that are deficient in other DNA repair pathways, can lead to cell death.
The main factors in driving the growth of the PARP inhibitor market are the growing prevalence of advanced stage ovarian cancer, breast cancer, and prostate cancer and increasing regional product approvals of PARP inhibitors. The global demand for PARP inhibitors is being driven primarily by an increase in the incidence and prevalence of cancer. Further, an increase in the use of PARP inhibitor drugs, rising geriatric population, and improvement in the global healthcare sector are projected to increase the global demand for PARP inhibitor drugs in the coming years.
Current industry players are deploying advanced approaches to develop novel methods to develop technologically advanced cancer therapies. During the forecast period, this is likely to propel demand for PARP inhibitors. However, in the next few years, regular product recalls and tight government regulations are likely to restrict the global economy.
Cancer is the leading cause of death around the globe. Cancer accounts for 8.3 million deaths per year according to the World Health Organization (WHO), with 70 percent of new cancer cases predicted to be reported in the next 20 years. During the forecast era, increasing prevalence of cancer is anticipated to be a key driver for the global demand for PARP inhibitors.
The number of cancer patients diagnosed in the U.S. has reached nearly 21 million, according to a study released in 2014 by the Centers for Disease Control and Prevention (CDC). Over 60 percent of the new cancer cases of the world occur in Asia, Africa, and South America. In these countries, nearly the same number of cancer deaths takes place. Cancers of the stomach, liver, lungs, breast, and esophagus are the most common worldwide.
In order to provide extensive patient experience and centralized access to physical and virtual care, market players must develop alliances with research & academic institutes, digital start-ups, as well as governmental and non-governmental organizations. Public Health England, for example, has launched the ‘Be Clear on Cancer' initiative to boost early diagnosis of cancer by raising public awareness. In addition, joint projects such as Cancer MoonShot 2020 provide researchers with the requisite testing materials to establish novel approaches to the treatment of different oncology disorders.
A significant number of diseases and disorders are associated with ageing. A majority of the elderly are cancer sufferers. The geriatric population (people aged 65 years or above) in the U.S. was 46.2 million in 2014, according to the Administration for Community Living. Therefore, the rise in the elderly population during the forecast period is expected to drive the global demand for PARP inhibitors.
Global PARP Inhibitor Market, By Drug
In 2019, due to its legalization in major countries, Lynparza accounted for the largest share in the global market for PARP inhibitors. After its approval, which forecasts positive growth in the future, sales of Lynpraza have more than doubled. Niraparib is followed by Olaparib, with sales of more than US$ 109 Million within the first nine months of its commercial launch. It is projected that Rucaparib, the most recent PARP inhibitor will reach the market soon.
Global PARP Inhibitor Market, By Indication
The ovarian cancer segment retained a dominant place in the global PARP market in 2018, among other applications. This is mainly due to the fact that PARP inhibitors are commonly used for ovarian cancer care.
Global PARP Inhibitor Market, By Distribution Channel
In terms of distribution channels, the hospital pharmacies segment held a dominant share in the global PARP inhibitor market in 2018, as physician access as well as related medications are both available at hospital pharmacies.
Global PARP Inhibitor Market, By Geographical Regions
The global demand for PARP inhibitors is currently dominated by North America, followed by Europe. The growth of the North American market can be mainly attributed to the rising patient population and product approvals in the regions. In May 2019, for example, AstraZeneca and Merck obtained Lynparza approval from Health Canada as a mono-therapy maintenance treatment for adult patients with advanced high-grade epithelial ovarian, fallopian tube, or primary peritoneal cancer with BRCA gene mutation.
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