PARP Inhibitor Market is Estimated to Witness High Growth

PARP inhibitors play an important role in the treatment of cancer by inhibiting Poly ADP Ribose Polymerase (PARP), an enzyme involved in DNA damage repair. PARP inhibitors are primarily used for treatment of ovarian cancer and are showing promising results in clinical trials for breast, prostate and pancreatic cancers. The growing prevalence of ovarian cancer worldwide is propelling the demand for PARP inhibitors for targeted treatment of the condition. As per estimates by the World Cancer Research Fund, there were around 300,000 new cases of ovarian cancer reported globally in 2020.

Market Opportunity

Ovarian cancer has poor diagnosis and low survival rates owing to lack of early detection methods and targeted treatment options. PARP inhibitors are emerging as an important treatment avenue for improving ovarian cancer outcomes and increasing patient survival. The ongoing clinical research evaluating PARP inhibitors for treatment of other cancer types is expected to significantly expand the market scope over the forecast period. If positive results are reported, the usage of PARP inhibitors is likely to become a standard therapeutic approach for a wide range of cancers beyond ovarian cancer. This presents lucrative growth opportunities for key players in the PARP inhibitor market.

Porter's Analysis

Threat of new entrants: The PARP inhibitor market requires large R&D investments and clinical trial costs pose high entry barriers for new players.

Bargaining power of buyers: The presence of many established pharmaceutical companies limits the bargaining power of buyers in this market.

Bargaining power of suppliers: Suppliers of raw materials have moderate bargaining power due to the availability of substitutes.

Threat of new substitutes: Potential new therapies for cancer treatment can emerge as substitutes in future.

Competitive rivalry: The market is growing rapidly leading to intense competition among existing players.

SWOT Analysis

Strength: High efficacy of PARP inhibitors in treating cancers with DNA repair deficiencies. Growing clinical evidence supporting their use.

Weakness: High costs associated with development and production. Side effects seen with some drugs.

Opportunity: Increasing adoption in combination therapies. Potential in treating more cancer types beyond ovarian and breast.

Threats: Pricing pressures and restrictive reimbursement policies pose challenges. Generic competition when patents expire.

Key Takeaways

The Global PARP Inhibitor Market Growth is expected to witness high over the forecast period aided by rising cancer incidence and growing adoption. The North American region currently dominates due to higher healthcare spending and more FDA approvals compared to other regions.

Regional analysis: Asia Pacific is likely to see fastest gains due to rising healthcare investments, growing research collaborations and increasing patient access to premium treatments in major countries like China and India.

Key players operating in the PARP inhibitor market are AstraZeneca, Clovis Oncology, Tesaro, Pfizer, and Merck & Co. AstraZeneca's Lynparza holds the leading market share currently while competition from newer drugs continues to intensify.

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