PARP Inhibitors Market
Number of pages: 100 | Report Format: PDF | Published date: April 18, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 5.63 billion |
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Market Size Value in 2031 |
US$ 14.16 billion |
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CAGR |
10.8% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Drug Type, Indication, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global PARP inhibitors market was valued at US$ 5.63 billion in 2022 and is expected to register a revenue CAGR of 10.8% to reach US$ 14.16 billion by 2031.
PARP Inhibitors Market Fundamentals
PARP inhibitors are a type of medication that blocks the activity of an enzyme called poly (ADP-ribose) polymerase (PARP), which is involved in repairing damaged DNA in cells. By inhibiting PARP, these drugs prevent cancer cells from repairing their DNA, leading to cell death. PARP inhibitors are a class of drugs that target poly (ADP-ribose) polymerase (PARP) enzymes. PARP Inhibitors' mechanism of action involves the repair of damaged DNA in cells, and PARP inhibitors work by blocking the function of this enzyme. PARP inhibitors have been primarily used in treating certain types of cancer, such as breast, ovarian, and prostate cancer, which have mutations in genes involved in DNA repair, such as BRCA1 and BRCA2. They are also being investigated for their potential in treating other diseases, such as autoimmune diseases and neurodegenerative disorders.
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PARP Inhibitors Market Dynamics
Cancer is one of the leading causes of death worldwide, and the incidence of cancer is expected to increase as the population ages. PARP inhibitors effectively treat certain types of cancer, such as breast, ovarian, and prostate cancer, driving demand for these drugs. According to Breastcancer.org, breast cancer accounts for 12.5% of all new cases of cancer each year, making it currently the most prevalent cancer in the world. There is growing interest in targeted therapies for cancer treatment, as these drugs can be more effective and have fewer side effects than traditional chemotherapy. PARP inhibitors are a type of targeted therapy, and their effectiveness in treating certain types of cancer is fueling the PARP Inhibitors Market Demand. PARP inhibitors are typically used in patients with specific genetic mutations, such as BRCA1/2 mutations. As genetic testing becomes more widely available and affordable, more patients who could benefit from treatment with PARP inhibitors will be identified.
A growing body of clinical evidence supports the effectiveness of PARP inhibitors in cancer treatment. As more data is generated, clinicians become more confident using these drugs, driving demand for PARP inhibitors. Additionally, PARP inhibitors have primarily been used in cancer treatment, and there is growing interest in their potential for treating other diseases, such as autoimmune diseases and neurodegenerative disorders. As more research is conducted in these areas, the PARP inhibitors market outlook will be positive during the forecast period. In many countries, healthcare systems increasingly recognize the value of targeted therapies like PARP inhibitors and provide favorable reimbursement policies for these drugs. This makes it easier for patients to access these drugs and is expected to propel the growth of the PARP inhibitors market revenue share.
However, PARP inhibitors are generally well tolerated. They can cause side effects such as fatigue, nausea, and anemia. Thus, this PARP inhibitors side effect can be particularly challenging for patients who are already dealing with the effects of cancer treatment which is restricting the PARP inhibitors market revenue growth. Moreover, PARP inhibitors can be expensive, limiting access to these drugs for some patients and hindering market demand.
PARP Inhibitors Market Ecosystem
The global PARP inhibitors market is analyzed from four perspectives: drug type, indication, distribution channel, and region.
PARP Inhibitors Market by Drug Type
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Based on the drug type, the global PARP inhibitors market is segmented into olaparib, rucaparib, niraparib, talazoparib, and others.
The olaparib segment dominates the PARP inhibitors market with the largest revenue share. Olaparib was the first PARP inhibitor approved for cancer treatment, giving it a significant advantage over competitors. Olaparib has been approved for treating several types of cancer, including ovarian, breast, and pancreatic cancer. This broad indication has helped to drive demand for the drug. Olaparib has been extensively studied in clinical trials and has demonstrated a strong safety and efficacy profile in treating certain types of cancer. There is a contentious investment in the research and development of olaparib, including in new indications and combination with other drugs. This has helped to maintain the drug's position as the dominant player in the PARP inhibitors market.
The rucaparib segment accounted for a considerable PARP inhibitors market revenue share in 2022. Rucaparib has received regulatory approval in several countries, including the United States and Europe. This has helped to increase its availability and uptake among healthcare providers and patients. Rucaparib has demonstrated efficacy in clinical trials, including in patients with BRCA-mutant ovarian cancer. This has helped to establish its position as a viable treatment option for these patients. Rucaparib is studied in other types of cancer, such as prostate cancer which has shown promise in these indications. This could further help grow its revenue share in the PARP inhibitors market. PARP inhibitors are typically used in patients with specific genetic mutations, such as BRCA1/2 mutations. Rucaparib provides an alternative treatment option for these patients, who may not be able to tolerate or respond to other treatment options.
PARP Inhibitors Market by Indication
Based on the indications, the global PARP inhibitors market is segmented into breast cancer, ovarian cancer, prostate cancer, pancreatic cancer, and others.
The ovarian cancer segment accounted for a significant PARP inhibitors market revenue share in 2022. Ovarian cancer is the 8th leading cause of cancer deaths in women and has a high incidence rate globally. According to the World Cancer Research Fund International, in 2020, there were more than 313,000 new ovarian cancer instances worldwide, resulting in 207,252 fatalities. PARP inhibitors have shown high efficacy in treating ovarian cancer, particularly in patients with BRCA1/2 mutations. In clinical trials, PARP inhibitors have significantly improved these patients' progression-free survival and response rates. Several PARP inhibitors, including olaparib, rucaparib, and niraparib, have been approved to treat ovarian cancer in various countries. This has helped to increase their availability and uptake among healthcare providers and patients. The development of PARP inhibitors for ovarian cancer is an important example of precision medicine, where therapies target specific genetic mutations. The increasing focus on precision medicine in oncology will drive further demand for PARP inhibitors in treating ovarian cancer.
The breast cancer segment accounted for a prominent PARP inhibitors market revenue share. The high prevalence of breast cancer globally is driving segmental growth. PARP inhibitors have shown promising results in the treatment of breast cancer. Clinical trials have demonstrated that PARP inhibitors can significantly improve these patients' progression-free survival and response rates. Certain PARP inhibitors, such as talazoparib and olaparib, have been approved for breast cancer treatment in various countries. This has helped to increase their availability and uptake among healthcare providers and patients. Before the introduction of PARP inhibitors, limited treatment options were available for patients with breast cancer. PARP inhibitors provide a new treatment option for these patients, particularly in cases where other treatment options may not be effective or are poorly tolerated.
PARP Inhibitors Market by Distribution Channel
The global PARP inhibitors market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies based on the distribution channel.
The hospital pharmacies segment accounted for the highest revenue share of the PARP inhibitors market. PARP inhibitors are primarily used in cancer treatment, and cancer treatment is often administered in hospital settings. Hospital pharmacies are, therefore, the primary distribution channel for PARP inhibitors. Hospital pharmacies are often associated with specialized oncology care facilities that administer and monitor PARP inhibitors. In many countries, reimbursement policies for PARP inhibitors are tied to hospital settings, meaning patients can only get them if they receive treatment in a hospital. This has contributed to increased demand for PARP inhibitors in hospital pharmacies. PARP inhibitors are expensive drugs, and hospitals may have greater financial resources to purchase these drugs compared to other types of pharmacies, such as retail pharmacies. Hospital pharmacists typically have more clinical expertise and are more familiar with the complex dosing and administration regimens required for PARP inhibitors. This expertise is crucial for patients receiving the appropriate treatment and dosage.
PARP Inhibitors Market by Region
Based on region, the global PARP inhibitors market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest PARP inhibitors market size in terms of revenue generation. Cancer incidence in North America is increasing, particularly breast and ovarian cancers treated with PARP inhibitors. This is driving demand for PARP inhibitors in the region. According to the American Cancer Society, an estimated 19,710 new ovarian cancer cases will be diagnosed in 2023, and it will cause about 13,270 deaths. There is a growing awareness among healthcare providers and patients about the benefits of targeted therapies like PARP inhibitors, which can improve treatment outcomes and reduce side effects. North America has a well-developed healthcare infrastructure, including hospitals and research institutions, equipped to handle complex cancer treatments like PARP inhibitors. The pharmaceutical industry in North America is investing heavily in the research and development of PARP inhibitors, leading to the development of new and improved drugs with better efficacy and safety profiles.
PARP Inhibitors Competitive Landscape
The prominent players operating in the global PARP inhibitors market with the largest revenue share are:
PARP Inhibitors Strategic Developments
PARP inhibitors are a type of medication that blocks the activity of an enzyme called poly (ADP-ribose) polymerase (PARP), which is involved in repairing damaged DNA in cells.
The expected size of the global PARP inhibitors market in 2031 is US$ 14.16 billion.
The global PARP inhibitors market is expected at a revenue CAGR of 10.8% during the forecast period.
The prominent players operating in the global PARP inhibitors market are AstraZeneca plc, Pfizer Inc., GlaxoSmithKline plc, Johnson & Johnson Services, Inc., and Clovis Oncology, Inc.
North America accounts for the largest market revenue share. Asia Pacific has the fastest revenue growth rate, which can be considered the key growth region due to the surge in PARP inhibitors industry trends.
*Insights on financial performance are subject to the availability of information in the public domain