PARP Inhibitor Market is expected to expand recording stable CAGR over Covid-19 Analysis forecast year 2026

Introduction to the PARP Inhibitor Market

A PARP Inhibitor (poly ADP-ribose polymerase) is a drug that inhibits the PARP enzyme in the cell. During cancer, DNA damage occurs. PARP inhibition aids cancer cells in repairing DNA that has been damaged.

Global PARP Inhibitor Market: Key Drivers, Restraints, and Opportunities

The market is expected to be driven by key players' focus on research & development to produce new products. For example, the FDA authorized Niraparib, a poly ADP-ribose polymerase (PARP) inhibitor monotherapy, as a first-line treatment for ovarian cancer in May 2020. Lynparza (olaparib), developed by AstraZeneca and MSD, was approved by the European Union (EU) in November 2020 for patients with metastatic castration-resistant prostate cancer (mCRPC) and breast cancer.

Increased government focus on improving healthcare access in developing nations, increased awareness of new technology, and an increase in the geriatric population are all prominent drivers that are projected to provide considerable potential for the PARP Inhibitors market.

Furthermore, the global increase in cancer prevalence is expected to enhance the global PARP Inhibitor Market. In 2016, approximately 229,875 women diagnosed with ovarian cancer were alive in the United States, according to the Epidemiology and End Results Program.

Industry participants' strategic development takes the market forward. For example, in December 2018, GlaxoSmithKline paid US$ 5.1 billion for Tesaro, a PARP Inhibitor developer. Glaxo was able to boost its pharmaceutical business by expediting the development of its oncology pipeline and expanding its commercial base, as well as gaining access to additional scientific skills, as a result of this acquisition.

Key Players in the PARP Inhibitors Market on a Global Scale

The global PARP Inhibitors market is fragmented, with multinational and local businesses competing. In their respective regions, a huge number of producers have a significant market share. The demand for PARP Inhibitors has risen in both emerging and developed economies. Leading players' growth plans are likely to boost the global market.