Market leaders are laying greater strategic emphasis on activities such as capacity expansion, R&D, product portfolio and regional presence, through mergers, acquisitions, and collaborations.
DUBAI, UAE / ACCESSWIRE / February 20, 2020 / The global poly ADP ribose polymerase (PARP) inhibitors market is poised for an exponential growth at a CAGR of 15% during the forecast period (2019-2026). Strong demand from the flourishing pharmaceutical industries a key contributor for this growth projection. PARP inhibitors have gained noteworthy momentum owing to increased awareness about efficacy in terms of treating different types of cancer.
"The unique ability of PARP inhibitors to improve progression-free survival in ovarian and breast cancer patients is expected to generate extensive traction for the market, thereby propelling the growth of the global PARP inhibitors market over the forecast period," forecasts the FMI report.
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Key Takeaways of PARP Inhibitors Market Study
- Olaparib is projected to dominate the global PARP inhibitors market owing to its applications in ovarian cancer, breast cancer, and pancreatic cancer.
- A number of PARP inhibitors are up for imminent approval owing to a new drug application process.
- PARP inhibitors are rapidly gaining traction as a new care standard of ovarian cancer treatment following platinum chemotherapy.
- North America and Europe are projected to remain the dominant regional PARP inhibitors markets owing to better access to new technology and reimbursement policies.
- Centralizing access to virtual and physical care with the aid of startups, research institutes and government bodies will play a key role in role for the future.
PARP Inhibitors Market - Top Growth Drivers
- The rising burden of the different cancer types is a key driver behind the demand for PARP inhibitors.
- The superior efficacy of PARP inhibitors over that of other cancer treatments is expected to drive revenue generation in the forecast period.
- Faster approval of PARP inhibitor drugs are also anticipated to drive adoption rates, as demand rises.
PARP Inhibitors Market - Key Restraints
- High costs related to clinical trials, insurance coverage, and testing for drug-drug interactions is a key restraint, particularly for emerging players.
- The nascent nature of the PARP inhibitors market also builds the risk of such dosages not being included in select electronic records.
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Competitive Landscape
Some of the key market players profiled in the report include, but are not limited to TESARO Inc., AbbVie Inc., Pfizer Inc., AstraZeneca, CLOVIS ONCOLOGY. Mergers and acquisitions are the key developmental strategies being adopted by leading market players, as the market is projected to remain in a consolidated stage through the forecast period. Such moves will enable manufacturers to widen their scope of regional product offerings. For instance, TESARO Inc., was acquired by Glaxo Smith Kline plc which allowed the latter to expand its product portfolio with the inclusion of Zejula (Niraparib) PARP inhibitor.
More About the Report
The 200-page study offers an in-depth market forecast and analysis on PARP inhibitors market. The major categories encompassed by the report include drug (olaparib, niraparib, rucaparib, and talazoparib), indication (ovarian cancer, breast cancer, prostate cancer, and pancreatic cancer), distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies) across seven regions (Middle East & Africa, Oceania, Europe, Latin America, South Asia, East Asia, North America).
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