Global PARP inhibitor market is estimated to be valued at USD 7.20 Bn in 2024 and is expected to reach USD 13.02 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
To learn more about this report, request sample copy
Increasing prevalence of cancer including breast and ovarian cancer can drive the market growth. PARP inhibitors are emerging as an important class of targeted therapeutics for the treatment of various types of cancers associated with BRCA1 and BRCA2 gene mutations. Many clinical trials are being conducted to evaluate the efficacy of PARP inhibitors against other cancer indications beyond ovarian cancer. Moreover, increasing awareness about cancer treatment options and gaining popularity of personalized medicine approach can also drive the market growth.
Rising Cases of Cancer Worldwide
Global PARP inhibitor market growth is driven by rising prevalence of cancer around the world. Cancer has become one of the leading causes of mortality with an estimated 9.6 million deaths in 2018. Growing geriatric population can also increase the burden of cancer worldwide. As per estimates, the population aged 60 years and above is expected to double from 12% to 22% between 2015 and 2050. With age being one of the primary risk factors for cancer, the rising global elderly demographic can pose a major public health challenge. Furthermore, improvements in diagnostic capabilities and screening programs have led to enhanced detection rates of various malignancies in recent years. Developed economies have witnessed major transformations in cancer screening with widespread adoption of advanced diagnostic technologies. This has resulted in earlier disease detection and increased diagnosis rates. However, this has also expanded the pool of patients eligible for targeted therapies such as PARP inhibitors. PARP inhibitors have been demonstrated to be effective for certain patients suffering from recurrent ovarian and breast cancers having mutations in homologous recombination repair (HRR) genes like BRCA1 or BRCA2. As more patients get diagnosed at treatable stages, there has been demand for precision oncology drugs like PARP inhibitors for long-term management of cancer. For instance, in February 2024, according to World Health Organization, the number of cancer cases worldwide is rising, revealing big differences in how people are treated and what happens to them afterward. Lung, breast, and colorectal cancers are the most common types. In the future, experts predict a 77% increase in cases by 2050.
Increased Investment in Precision Oncology Research
There has been a paradigm shift towards targeted and personalized treatment approaches in oncology that has led to significant investments from biopharmaceutical companies, governments, and private foundations to support precision oncology research. Large drug makers have been prioritizing investment in the development of tumor-agnostic as well as tumor-specific targeted therapies. Rapid advancements are being made through immuno-oncology and molecularly targeted agents, including PARP inhibitors, that have enabled treatment of cancers based on their molecular profile rather than site of origin. With improved understanding of cancer genomics and biomolecular underpinnings of the disease, PARP inhibitors are being evaluated across various tumor types harboring defects in DNA repair mechanisms. Research exploring new indications and combination regimens has expanded the use of currently approved PARP inhibitors. This has also aided pharmaceutical companies in maximizing returns on their drug development investments. Several small biotechs are involved in advancing innovative therapeutic candidates in their pipelines. Governments and charities are also making efforts to address gaps in precision cancer research through funding initiatives.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients