PARP Inhibitors Market to reach over USD 10.31 billion by the year 2031 - Exclusive Report by InsightAce Analytic

JERSEY CITY, N.J., Feb. 21, 2024 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global PARP Inhibitors Market Size, Share & Trends Analysis Report By Product (Niraparib (Zejula), Olaparib (Lynparza), Rucaparib (Rubraca), Talazoparib (Talzenna), Veliparib, Other Pipeline Drugs), By Indication (breast cancer, ovarian cancer, and prostate and pancreatic cancer), Region, Market Outlook And Industry Analysis 2031"

The global PARP Inhibitors market is estimated to reach over USD 10.31 billion by 2031, exhibiting a CAGR of 14.78% during the forecast period for 2023-2031. 

PARP Inhibitors Market Report Scope:

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PolyaDP-ribose polymerase (PARP) inhibitors consist of extended chains composed of 17 enzymes, which enable the transport of numerous ADP-ribose units to the intended target proteins. When DNA is harmed by various circumstances, including using multiple anti-cancer medications and exposure to UV radiation, this aids in its restoration.

PARP inhibitors prevent an enzyme required for the repair of DNA single-strand breaks. Inhibition of this DNA repair enzyme can cause cell death in cancer cells that lack alternative DNA repair pathways. Hence, these inhibitors are widely utilized to treat a variety of malignancies, including ovarian and breast cancer.

The market growth is predicted to be fueled by leading players' emphasis on research and development to create new products. Furthermore, the global market for PARP inhibitors is projected to grow as cancer incidence rates.

However, market expansion is propelled by the strategic developments of market participants. The market for PARP inhibitors is anticipated to expand due to increased demand resulting from their efficacy. Significant factors expected to contribute to the market's substantial growth potential for PARP inhibitors are an increased emphasis by governments of developing countries on improving healthcare accessibility and a heightened awareness of contemporary technologies.

List of Prominent Players in the PARP Inhibitors Market:

• Johnson & Johnson Services, Inc.
• Merck KGaA
• GSK plc.
• Pfizer Inc.
• AbbVie Inc.
• Teva Pharmaceutical Industries Ltd.
• Artios Pharma
• Genentech, Inc.
• Karyopharm Therapeutics Inc.
• Repare Therapeutics Inc
• ONO PHARMACEUTICAL CO., LTD
• Jiangsu Hengrui Pharma Co., Ltd.
• Bristol-Myers Squibb Co
• AstraZeneca plc
• Checkpoint Therapeutics, Inc.
• Eisai Co., Ltd.
• IMPACT Therapeutics
• JEIL PHARMA CO.,LTD.
• Kyowa Kirin Co., Ltd
• SyntheX

Market Dynamics:

Drivers-

Over the forecast period, the global market for PARP inhibitors is anticipated to expand due to the rising cancer incidence and the demand for pharmaceuticals. In addition, PARP inhibitors and chemotherapeutic agents may be utilized to inhibit the proliferation of cancer cells. It is anticipated that expanding research and development in cancer treatment will present manufacturers with advantageous prospects to introduce novel medications into the PARP inhibitor market.

Challenges:

PARP inhibitor side effects impede the market's growth. Strict regulations will prevent resistance to PARP inhibitors, another issue impeding market expansion. However, high expenses associated with clinical trials, stringent regulations, and frequent product recalls limit the market.

Regional Trends:

In the near future, the North American market for PARP Inhibitors is anticipated to account for a substantial portion of the revenue and expand at a rapid CAGR due to the region's advanced healthcare industry and substantial healthcare expenditures. The accessibility of authorized PARP inhibitors and the rising incidence of solid tumors in the region are two significant factors influencing the market's expansion. The demand for PARP inhibitors in the region is anticipated to increase over the forecast period due to the introduction of new products, the presence of significant market participants that emphasize research and development, and a rise in cancer incidence. Besides, Asia Pacific had a substantial share in the PARP Inhibitors market because of the expanding population. Due to increasing R&D efforts and healthcare spending, the Asia Pacific market is predicted to expand more quickly. It is anticipated that the demand for PARP inhibitors will grow due to investments made by large corporations in developing nations to meet unmet needs and strengthen their competitiveness.

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Recent Developments:

• In February 2023, The Janssen Pharmaceutical Companies of Johnson & Johnson announced updated results from the Phase 3 MAGNITUDE study evaluating the investigational use of niraparib, a highly selective poly (ADP-ribose) polymerase (PARP) inhibitor, in combination with abiraterone acetate plus prednisone (AAP) in patients with metastatic castration-resistant prostate cancer (mCRPC) with or without specific homologous recombination repair (HRR) gene alterations, including BRCA mutations. Results will be featured today in a Rapid Abstract Session (Abstract #170) at the American Society of Clinical Oncology's Genitourinary (ASCO GU) Cancers Symposium, taking place February 16-18.
• In October 2023, Merck, announced a strategic collaboration with Jiangsu Hengrui Pharmaceuticals Co. Ltd. (Hengrui). The partnership includes an exclusive license worldwide (ex-China) to develop, manufacture and commercialize Hengrui's next-generation potent and selective PARP1 (poly (ADP-ribose) polymerase 1) trapping inhibitor HRS-1167. The agreement also includes an option to an exclusive license worldwide (ex-China) to develop, manufacture and commercialize Hengrui's Claudin-18.2 antibody-drug conjugate (ADC) SHR-A1904.
• In October 2023, Merck, announced a strategic collaboration with Jiangsu Hengrui Pharmaceuticals Co. Ltd. (Hengrui). The partnership includes an exclusive license worldwide (ex-China) to develop, manufacture and commercialize Hengrui's next-generation potent and selective PARP1 (poly (ADP-ribose) polymerase 1) trapping inhibitor HRS-1167. The agreement also includes an option to an exclusive license worldwide (ex-China) to develop, manufacture and commercialize Hengrui's Claudin-18.2 antibody-drug conjugate (ADC) SHR-A1904.

Segmentation of PARP Inhibitors Market-

By Drug Type-

• Niraparib (Zejula)
• Olaparib (Lynparza)
• Rucaparib (Rubraca)
• Talazoparib (Talzenna)
• Veliparib
• Other Pipeline Drugs

By Indication-

• Ovarian Cancer
• Breast cancer
• Prostate and Pancreatic Cancer

By Region-

North America-

• The US
• Canada
• Mexico

Europe-

• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-

• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-

• Brazil
• Argentina
• Rest of Latin America

 Middle East & Africa-

• GCC Countries
• South Africa
• Rest of Middle East and Africa

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Why should buy this report:

Ø  To receive a comprehensive analysis of the prospects for global PARP Inhibitors market

Ø  To receive industry overview and future trends of global PARP Inhibitors market

Ø  To analyse the PARP Inhibitors market drivers and challenges

Ø  To get information on PARP Inhibitors market size value (US$ Mn) forecast till 2031

Ø  Major Investments, Mergers & Acquisition in global PARP Inhibitors market industry

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