May 22, 2024
PARP Inhibitor Market

PARP Inhibitor Market Estimated To Propelled By Increasing Prevalence Of Cancer

PARP inhibitors are a class of prescription drugs used to treat certain types of cancers, including ovarian cancer, breast cancer, and prostate cancer. They work by blocking an enzyme called poly ADP-ribose polymerase (PARP) that is involved in repairing damaged DNA within cells. By blocking PARP, the drugs help prevent cancer cells from repairing damage to their DNA caused by chemotherapy, radiation therapy, or other cancer treatments. This makes the cancer cells more vulnerable to death.

The Global PARP Inhibitor Market Size is estimated to be valued at US$ 7.07 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The global PARP inhibitor market is primarily driven by the increasing prevalence of cancer worldwide. According to the World Cancer Research Fund International, in 2020, an estimated 19.3 million new cancer cases and 10 million cancer deaths occurred globally. Breast cancer, lung cancer, prostate cancer, and colorectal cancer are some of the most prevalent types of cancer. PARP inhibitors are specifically used for treating breast, ovarian, and prostate cancers. Thus, the rising burden of cancer is expected to propel the demand for PARP inhibitor drugs over the forecast period.

SWOT Analysis

Strength: PARP inhibitors target a specific DNA repair pathway and have the potential to be effective against multiple tumour types with defects in homologous recombination repair.
Weakness: The toxicity profile of early PARP inhibitors presented challenges for combination therapies and limited their use to later lines of treatment.
Opportunity: Ongoing clinical trials are exploring PARP inhibitors in combination with other anti-cancer therapies and in earlier treatment settings which may expand their use.
Threats: Competition from other novel anti-cancer targeted therapies and resistance developing to PARP inhibitors limits their long term efficacy.

Key Takeaways

The global PARP Inhibitor market is expected to witness high growth over the forecast period. The global PARP Inhibitor Market is estimated to be valued at US$ 7.07 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024-2031.

North America currently dominates the market due to the high adoption of PARP inhibitors in the region for cancer treatment. Europe also captures a significant share due to increasing research activities for innovative cancer therapies.

Key players operating in the PARP Inhibitor market are FLSmidth & Co. A/S, Metso Oyj, Koppern Group, CITIC Heavy Industries Co. Ltd. (CITIC HIC), ThyssenKrupp Industrial Solutions AG (Polysius AG), SGS S.A., KHD Humboldt Wedag International AG, Outotec Oyj, and ABB Ltd. The market is witnessing the rapid introduction of novel PARP inhibitors and their combination with other anti-cancer therapies which is expected to propel market growth.

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