Poly ADP-Ribose Polymerase (PARP) inhibitors are a class of anti-cancer drugs that specifically target and inhibit the activity of PARP enzymes of cancer cells. PARP inhibitors work by blocking the activity of PARP enzymes that help cancer cells repair damaged DNA, thus allowing cancer cells with damaged DNA to die. The growing global burden of cancer coupled with the recent FDA approvals of PARP inhibitors for certain cancer types such as ovarian cancer and breast cancer is expected to drive the adoption of PARP inhibitors.
The global PARP inhibitor market is estimated to be valued at US$ 6.13 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the PARP inhibitor market is the increasing research on combination therapies involving PARP inhibitors and other anti-cancer drugs. Combining PARP inhibitors with chemotherapy, immunotherapy or other targeted therapies is being widely researched with the aim to improve treatment efficacy. For example, ongoing studies are evaluating the potential benefits of combining PARP inhibitors with PD-1/PD-L1 immunotherapies. Another key trend is the increasing focus on developing newer PARP inhibitors that can target a broader range of cancers. With recent advances in cancer research, exploring the potential of PARP inhibition in newer cancer types is expected to significantly broaden the market potential over the coming years.
Threat of new entrants: The PARP inhibitor market requires large investments in R&D for drug development, which acts as a barrier to entry for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as treatment options are limited and major pharmaceutical companies control the market.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the presence of a large number of reagent providers.
Threat of new substitutes: No close substitutes currently exist for PARP inhibitor drugs.
Competitive rivalry: Major players compete on the basis of strong pipeline and patent protection.
Global PARP Inhibitor Market Trends are expected to witness high growth.
Regional analysis Asia Pacific is expected to grow at the fastest pace during the forecast period owing to rising healthcare expenditure and growing cancer cases in countries like China and India.
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). Major players are focusing on new product launches and geographical expansion to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it