Rising Incidences of Cancer of PARP Inhibitor Market

Posted 2024-01-04 12:27:34

The global PARP Inhibitor Market is estimated to be valued at US$ 6.13 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis

Strength: Parp inhibitor drugs have shown promising results in clinical trials for breast cancer and ovarian cancer treatment. Three main PARP inhibitor drugs Lynparza, Zejula and Rubraca have received FDA approval in recent years for certain types of breast and ovarian cancers with BRCA1 and BRCA2 mutations.

Weakness: PARP inhibitors have relatively higher costs and side effects compared to conventional chemotherapy drugs. High development costs and long regulatory approval timelines are other weaknesses. PARP inhibitors also work best for cancers with specific genetic mutations which limits their patient eligibility.

Opportunity: Ongoing clinical trials are exploring effectiveness of PARP inhibitors for other cancer types like prostate cancer, pancreatic cancer and various early stage cancers. Combination therapies with other drugs also have potential to expand use of PARP inhibitors. Increasing cancer incidence globally with growing demand for personalized cancer care provides opportunities.

Threats: Development of resistance to PARP inhibitors remains a challenge. Existing competition from other novel drugs and future pipeline of alternative targeted therapies are threats. Regulatory hurdles and reimbursement issues vary globally impacting market adoption.

Key Takeaways

The Global PARP Inhibitor Market Demand is expected to witness high growth.

Regional analysis: North America currently dominates the market due to early approvals and higher adoption of Lynparza, Zejula and Rubraca. Europe and Asia Pacific regions are also expanding significantly with increasing research.

Key players operating in the PARP inhibitor market are F. Hoffman-La Roche Ltd, Tesaro Inc, Clovis Oncology, Pfizer, and AstraZeneca. These leading players are focused on expanding clinical trials into additional cancer types and exploring combination therapies to address resistance issues and expand patient population.

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