The global PARP inhibitors market is poised for significant growth, with projections exceeding a staggering US$ 8.43 billion by 2026, according to a recent report by Future Market Insights (FMI). This anticipated surge represents a substantial increase from the market’s 2022 valuation of US$ 5.51 billion, highlighting the growing demand for cutting-edge targeted therapies in the treatment of chronic diseases, particularly cancer.
Fueling the Growth:
The market is expected to witness an impressive Compound Annual Growth Rate (CAGR) of 11.2% during the period 2022-2026. This robust growth trajectory is primarily attributed to the burgeoning adoption of PARP inhibitors as a critical component in the therapeutic landscape of various chronic diseases, especially cancer.
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Key Takeaways:
- The PARP inhibitors market is expected to reach US$ 8.43 billion by 2026, reflecting a significant rise from its 2022 valuation.
- The market is driven by the increasing demand for targeted therapies in the treatment of chronic illnesses like cancer.
- A CAGR of 11.2% is projected for the market during the 2022-2026 period, fueled by the growing adoption of PARP inhibitors in various therapeutic areas.
PARP Inhibitors Market Study:
- Olaparib, with various expanded approvals for the treatment of ovarian cancer, breast cancer, and pancreatic cancer, and rapid increase in potential patient pool, contributed to the dominance of the segment by drug in 2021, and will continue to do so during the forecast period.
- PARP inhibitors are regarded as a new standard of care for ovarian cancer after first-line platinum chemotherapy. Adoption of PARP inhibitors for ovarian cancer treatment has surged, and the trend is expected to continue during the forecast period, owing to the ability of PARP inhibitors to induce ovarian cancer patients into remission for longer periods of time as compared to any other marketed therapy.
- With a strong pipeline, significant number of PARP inhibitors are expected to go for approval through the new drug application (NDA) process and for expanded approval to treat various types of cancers.
Growing Emphasis on Public Awareness Regarding Cancer to Propel the PARP Inhibitors Demand UK:
The U.K. is projected to account for a significant share in the Europe PARP inhibitors over the assessment period, reveals FMI.
Increasing government and non-government organizations’ emphasis on spreading public awareness regarding early diagnosis and treatment for cancer is the primary factor bolstering the sales of PARP inhibitors in the U.K. market.
For instance, Public Health England has launched a new campaign ‘Be Clear on Cancer,’ which focuses on improving early cancer diagnostics by spreading public awareness regarding cancer. In addition to this, the presence of favorable medical reimbursement policies in the U.K. is anticipated to bolster the demand for PARP inhibitors in the market.
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Key Companies Profiled:
- AstraZeneca
- GlaxoSmithKline
- Merck Co. & Inc
- GlaxoSmithKline plc
- AbbVie Inc
- Clovis Oncology
- Medivation
- Johnson & Johnson Services, Inc
- Pfizer Inc.
- Repare Therapeutics, Inc.
- Genentech, Inc.
- Artios Pharma
- Repare Therapeutics Inc.
- Sierra Oncology, Inc.
- KaryopharmTherapeutics Inc.
- Ono Pharmaceutical Co., Ltd.
- Jiangsu Hengrui Medicine Co., Ltd.
PARP Inhibitors Market by Category:
By Drug Type:
- Olaparib
- Niraparib
- Rucaparib
- Talazoparib
By Indication:
- Ovarian Cancer
- Breast Cancer
- Prostate Cancer
- Pancreatic Cancer
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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