Global PARP (Poly ADP-ribose Polymerase) Inhibitors Market 2019-2023 | 17% CAGR Projection over the Next Four Years | Technavio
LONDON--(BUSINESS WIRE)--Apr 8, 2019--The research report on the global PARP (poly ADP-ribose polymerase) inhibitors market by Technavio predicts the market to post a CAGR of more than 17 % during the period 2019-2023.
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The global PARP (poly ADP-ribose polymerase) inhibitors market will grow at a CAGR of more than 17% during the period 2019-2023 (Graphic: Business Wire)
Although there are currently three PARP inhibitors that are approved for at least three indications, these drugs are being studied in clinical trial phases for the treatment of various other oncology-related indications. The application landscape of the PARP inhibitors remains vast with the clinical stages for these drugs being studied for a minimum of ten indications. The primary reason for the increase in the application of these therapies is their high efficacy for the treatment of solid tumors. The study of a single molecule for multiple indications helps vendors curtail the costs associated with conducting multiple pre-clinical and clinical trial studies. This is expected to attract several vendors to research the application of PARP inhibitors for new cancer indications. As a result, the global PARP inhibitors market is expected to witness significant growth during the forecast period.
As per Technavio, the growing prevalence of cancer and the extensive ongoing research will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global PARP (poly ADP-ribose polymerase) inhibitors market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global PARP (poly ADP-ribose polymerase) inhibitors market: Growing prevalence of cancer
In recent years, the incidence of cancer has been increasing significantly owing to changes in lifestyles and a large global geriatric population. This has led to the development and approval of various novel therapies in the global oncology therapeutics market. According to the CDC, cancer is the most common cause of death in the US and accounts for approximately 25 % of all deaths in the country. Consequently, vendors have immense opportunities for conducting substantial research on drugs such as PARP inhibitors for the treatment of cancer. The need to address the vast unmet needs will add significant value to the global PARP inhibitors market in the coming years.
“PARP inhibitors are expensive due to high R&D costs. Therefore, various governments have come up with patient assistance programs to reduce the cost burden associated with the drugs and offer them at an affordable price. The increasing number of patient assistance programs will help provide treatment to more patients, resulting in the value and volume growth of the PARP inhibitors market,” says a senior research analyst at Technavio.
Global PARP (poly ADP-ribose polymerase) inhibitors market: Segmentation analysis
This research report on the PARP inhibitors market segments the market by indication (ovarian cancer, breast cancer, and others) and geography (Asia, Europe, North America, and ROW).
The ovarian cancer segment held the largest PARP inhibitors market share in 2018. However, breast cancer segment is expected to register the highest incremental growth in the PARP inhibitors market during the forecast period.
North America accounted for the highest share of the market in 2018 due to the sale of approved therapeutics and the increasing prevalence of various solid tumors in the region. The strong pipeline for PARP inhibitors is another critical factor driving the growth of the market in this region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
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PUB: 04/08/2019 10:00 AM/DISC: 04/08/2019 10:00 AM