SEATTLE, Sept. 26, 2019 /PRNewswire/ -- According to Coherent Market Insights, the global PARP inhibitors market is valued at US$ 887.7 million in 2018, and is projected to exhibit a CAGR of 32.4% over the forecast period (2019–2027).
Key Trends and Analysis of the Global PARP Inhibitor Market:
Market players are focused on collaboration and acquisition strategies to enhance their market share. Moreover, these strategic acquisitions are expected to facilitate research and development of new therapies for treatment of ovarian and breast cancer. For instance, in January 2019, GlaxoSmithKline plc. acquired TESARO, Inc. The acquisition is expected to help GlaxoSmithKline expand its portfolio of ovarian cancer therapeutics as the company acquired marketing rights for Zejula (niraparib), an oral poly ADP ribose polymerase (PARP) inhibitor indicated for the treatment of ovarian cancer.
In July 2017, AstraZeneca and Merck & Co., Inc. announced a collaboration for development and commercialization of AstraZeneca's LYNPARZA (olaparib) indicated for treatment of multiple cancer types.
Major factors contributing to growth of the global PARP inhibitor market are increasing incidence of ovarian and breast cancer and rising number of PARP inhibitor treatment therapies. According to the World Cancer Research Fund International's report in 2018, breast cancer ranked second in terms of total incidence of cancer cases worldwide, with 2,088,849 new cases reported worldwide in 2018.
The global PARP inhibitor market is expected to exhibit a CAGR of 32.4% during the forecast period (2019–2027) owing to increasing incidence of cancer. According to World Health Organization 2018 statistics, cancer is the second leading cause of death globally, and was responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths occurred due to cancer in 2018.
North America currently dominates the global PARP inhibitors market followed by Europe owing to increasing patient population and product approvals in the regions. For instance, in May 2019, AstraZeneca and Merck received the Health Canada approval for Lynparza as a monotherapy maintenance treatment for adult patients with advanced BRCA-mutated high-grade epithelial ovarian, fallopian tube or primary peritoneal cancer
Among applications, the ovarian cancer segment held dominant position in the global PARP market in 2018, as PARP inhibitors are used extensively for treatment of ovarian cancer
Among distribution channels, the hospital pharmacies segment held a dominant position in the global PARP inhibitor market in 2018 as physician access as well as relevant medications are both available at hospital pharmacies
Key players operating in the global PARP inhibitor market AstraZeneca Plc., Johnson & Johnson, GlaxoSmithKline plc., Pfizer, Inc., Clovis Oncology Inc., AbbVie Inc., Bristol - Myers Squibb, Merck KGaA, Genentech, Inc., Repare Therapeutics Inc., Sierra Oncology, Inc., Karyopharm Therapeutics Inc., Ono Pharmaceutical Co., LTD., and Jiangsu Hengrui Medicine Co., Ltd.
Global PARP inhibitor Market, By Drug Type:
Global PARP inhibitor Market, By Application:
Global PARP inhibitor Market, By Distribution Channel:
Global PARP inhibitor Market, By Region:
Rest of Latin America
Rest of Asia Pacific
Rest of Middle East
Contact Us: Mr. Raj Shah Coherent Market Insights 1001 4th Ave. #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: [email protected]