Enjoy complimentary customisation on priority with our Enterprise License!
The PARP (poly adp-ribose polymerase) inhibitors market size is estimated to grow by USD 5.56 billion accelerating at a CAGR of 13.25% between 2023 and 2028.
PARP (poly adp-ribose polymerase) inhibitors market Share
_inhibitors_market_size_abstract_2023_v1.jpg.webp?v4.1.14)
For More Highlights About this Report, Download Free Sample in a Minute
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Ease of administration for the treatment of various cancer indications is notably driving the market growth. One of the challenges faced by the global oncology therapeutics market is the difficulty in the administration of therapeutics for the treatment of various cancer indications. As most of the therapeutics for the treatment of major cancer indications such as breast cancer, ovarian cancer, and prostate cancer are administered intravenously, patient adherence often remains a challenge. Despite the risk of adverse effects such as nausea and fatigue and reduced efficacy of the drug, as it gets dissolved in the bloodstream, the market witnessed an increase in the popularity of orally administered drugs.
Moreover, companies are conducting studies on increasing the efficacy of drugs and reducing the adverse effects associated with the oral administration of PARP inhibitors. Hence, the ease of administration is increasing patient adherence to the therapy, thereby propelling the growth of the global PARP (poly ADP-ribose polymerase) inhibitors market during the forecast period.
The growing prevalence of cancer is an emerging trend shaping the market growth. Globally, the prevalence of cancer has been increasing significantly in recent years. The increasing prevalence and huge unmet need led the global oncology therapeutics market to witness the approval of various novel therapies. This has provided opportunities for vendors to conduct heavy research on drugs such as PARP inhibitors for the treatment of cancer. Factors such as changes in lifestyle and the growing geriatric population are contributing to the increasing need for the treatment of cancer using novel therapies. According to the CDC, cancer is the second most common cause of death in the US and accounts for approximately 25% of all deaths in the country.
However, the increasing number of gene mutations is another factor behind the increasing prevalence of various types of cancers, such as lung cancer, ovarian cancer, and breast cancer. These components will expand the growth of the market in focus during the forecast period.
Trial failures of drugs are a significant challenge hindering market growth. The global pharmaceutical market has witnessed a significant increase in the number of trials being conducted for PARP inhibitors in recent years. These drugs are being studied for the treatment of various cancer indications. For instance, Veliparib, a PARP inhibitor under development by AbbVie Inc., is being studied for the treatment of 17 cancer indications. It is in Phase III of clinical trials for major indications such as breast cancer, non-small cell lung cancer, and ovarian cancer.
However, trial failures result in a huge loss to the research cost, as the cost of conducting Phase II and Phase III studies is approximately USD 169 million. The lack of funding for smaller vendors is leading them to either stop the trials or sell the drug to larger players, which poses a challenge to market growth. Such factors are expected to hinder the market growth during the forecast period.
The distribution channel segment is classified into retail pharmacies, hospital pharmacies, and online pharmacies. The end-user segment is classified into ovarian cancer, breast cancer, and others. The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)
The market share growth by the retail pharmacies segment will be significant during the forecast period. Retail pharmacies play an essential role in the distribution of PARP inhibitors. As a segment of the market, retail pharmacies provide patients with convenient and accessible access in the form of specialized medications.
_inhibitors_market_segments_abstract_2023_v2.jpg.webp?v4.1.14)
Get a glance at the market contribution of various segments Download the PDF Sample
The retail pharmacies were the largest and were valued at USD 1.89 billion in 2018. Retail pharmacies provide additional services that improve the patient's experience. Such services may include consultations with qualified pharmacists who can advise on medication use, potential adverse reactions, and drug-drug interactions. The addition of retail pharmacies to the global market segmentation of PARP inhibitors highlights the importance of convenience and accessibility for patients requiring these speciality medications. Not only do retail pharmacies act as distribution channels, but they also provide patient care by supporting and educating patients throughout the treatment process. All these factors under the retail pharmacies distribution channel will expand the growth of the market in focus during the forecast period.
_inhibitors_market_regions_abstract_2023_geo_v2.jpg.webp?v4.1.14)
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America accounted for the highest share of the global PARP (poly ADP-ribose polymerase) inhibitors market, primarily due to the sales of approved therapeutics and the increasing prevalence of various solid tumours in the region. The prevalence of various types of major cancers in the US has increased in recent years. Breast cancer, prostate cancer, and lung cancer are three of the major types of cancers. In addition, The strong pipeline for PARP inhibitors is another factor driving the market in this region, as the approved therapies are also being studied for the treatment of various other solid tumours.
For instance, LYNPARZA is being studied for the treatment of 13 solid tumours. Similarly, RUBRACA and ZEJULA are also being studied for the treatment of various other tumours. Furthermore, the pipeline is witnessing the presence of large pharmaceutical vendors such as Pfizer Inc. and AbbVie Inc. with novel therapies, which is expected to add value to the market, as these therapies are expected to receive approvals during the first half of the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AbbVie Inc. - The company offers PARP (poly ADP-ribose polymerase) inhibitors such as veliparib for patients with squamous non-small cell lung cancer and triple-negative breast cancer.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
|
PARP (Poly ADP-ribose Polymerase) Inhibitors Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
163 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 13.25% |
|
Market growth 2024-2028 |
USD 5.56 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
12.75 |
|
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
|
Performing market contribution |
North America at 43% |
|
Key countries |
US, Canada, UK, Germany, and China |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
AbbVie Inc., Allarity Therapeutics Inc., Artios Pharma, AstraZeneca Plc, Bayer AG, BeiGene Ltd., Daiichi Sankyo Co. Ltd., Everest Pharmaceuticals Ltd., GlaxoSmithKline Plc, IMPACT Therapeutics, Jeil Pharmaceuticals Co. Ltd., Jiangsu Hengrui Pharmaceuticals Co. Ltd., Johnson and Johnson, Karyopharm Therapeutics Inc., Merck and Co. Inc., Ono Pharmaceutical Co. Ltd., Pfizer Inc., Repare Therapeutics Inc., Teva Pharmaceutical Industries Ltd., and Zai Lab Ltd. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
