The global PARP inhibitors market is poised for remarkable expansion, with projections surpassing a staggering US$ 8.43 Billion by 2026, as reported by Future Market Insights (FMI). This anticipated surge marks a significant escalation from its 2022 valuation of US$ 5.51 Billion, fueled predominantly by the escalating demand for cutting-edge targeted therapies, particularly in the treatment of chronic ailments such as cancer.
Future Market Insights’ (FMI) latest forecast projects an impressive Compound Annual Growth Rate (CAGR) of 11.2% for the PARP inhibitors market during the period of 2022-2026. This robust growth trajectory is primarily attributed to the burgeoning adoption of PARP inhibitors as a pivotal element in the therapeutic landscape of various chronic diseases, notably cancer.
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Olaparib, a key drug in the PARP inhibitors market, is anticipated to maintain its position as the most sought-after drug globally, contributing to more than 62.9% of PARP inhibitors sales by 2022. The increasing prevalence of cancer and the efficacy of olaparib in targeted therapy are major factors driving its dominance in the market.
Moreover, the PARP inhibitors market is expected to capture a substantial share of over 28.5% in the global cytotoxic toxic drugs market by 2022, highlighting the growing significance of PARP inhibitors in the pharmaceutical landscape.
FMI, a leading player in the pharmaceutical industry, is poised to capitalize on this burgeoning market. With a commitment to innovation and the development of advanced therapies, FMI is well-positioned to contribute significantly to the evolving landscape of PARP inhibitors.
As the demand for targeted therapies continues to rise, FMI remains dedicated to delivering cutting-edge solutions that address the unmet needs of patients battling chronic diseases. The company is actively engaged in research and development activities to expand its portfolio and enhance its presence in the PARP inhibitors market.
Key Takeaways of 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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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