July 17, 2024
PARP Inhibitor Biomarkers Market

PARP Inhibitor Biomarkers Market Is Expected To Be Flourished By Increasing Application For Cancer Diagnosis And Treatment

PARP inhibitor biomarkers are used for cancer diagnosis and treatment by detecting DNA damage response biomarkers like PAR polymers or PARP proteins. The technology is used to select cancer patients that are most likely to respond to PARP inhibitor treatment. In breast and ovarian cancers, deficiency in the HRR pathway via BRCA1/2 mutations makes them particularly sensitive to PARP inhibitors. Detection of these predictive biomarkers via PARP inhibitor biomarkers helps in providing personalized treatment options to cancer patients.

The global PARP inhibitor biomarkers market is estimated to be valued at US$ 4.87 billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Increasing application for cancer diagnosis and treatment is a key driver for the growth of PARP inhibitor biomarkers market. As highlighted in the heading, the detection of predictive biomarkers helps in selecting cancer patients that are most likely to respond to PARP inhibitor treatment. This drives the demand for PARP inhibitor biomarkers. Another driver is the rising prevalence of cancer worldwide. According to WHO, cancer burden rose to 19.3 million cases and 10 million cancer deaths in 2020. This increasing incidence of cancer positively impacts the need for effective diagnosis and targeted treatment which fuels the market growth of PARP inhibitor biomarkers over the forecast period.

Segment Analysis

The PARP inhibitor biomarkers market is segmented into DNA damage assays, protein expression, and polymerase chain reaction based biomarker detection. The polymerase chain reaction (PCR) based biomarker detection segment dominates the market and is expected to continue its dominance over the forecast period. This is because PCR technique provides high accuracy, reproducibility and greater sensitivity in detection of DNA or RNA sequences.

PEST Analysis

Political: The governments worldwide are increasingly investing in cancer research which is driving the PARP inhibitor biomarkers market growth. Also, favorable regulations related to clinical trials and approval of companion diagnostics are supporting the market.
Economic: Rise in healthcare expenditure, growing per capita income, and favorable reimbursement policies are fueling the demand for advanced biomarker tests for personalized cancer treatment.
Social: Growing public-private partnerships to spread cancer awareness and increasing adoption of targeted therapies are propelling the PARP inhibitor biomarkers adoption.
Technological: Advancements in high-throughput sequencing, digital PCR, microarrays, and next-generation sequencing techniques are allowing development of novel and precise biomarkers which is expected to create new opportunities.

Key Takeaways

The global PARP Inhibitor Biomarkers Market Share is expected to witness high growth over the forecast period. The North America region dominates the global market currently due to presence of major players, growing cancer incidence, rising healthcare expenditure, and availability of advanced healthcare facilities in the region.

Regional analysis
The North America region is expected to remain the fastest growing as well as the dominant region in the global PARP inhibitor biomarkers market during the forecast period. This is attributed to rising healthcare expenditure, increasing cancer incidence especially breast and ovarian cancer, growing adoption of targeted therapies in the US and Canada.

Key players

Key players operating in the PARP inhibitor biomarkers market are Sika AG, BASF SE, Fosroc International Limited, Saint-Gobain Weber, The Euclid Chemical Company, Dayton Superior Corporation, WR Meadows, Specified Technologies Inc, TCC Materials and EMSEAL Joint Systems Ltd. Sika AG and BASF SE are the leading players due to their extensive geographical presence and wide product portfolio.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it