Global PARP inhibitor market is estimated to witness high growth, owing to rising incidence of cancer and increasing FDA approvals
Global PARP inhibitor market is estimated to be valued at USD 7.20 Bn in 2024, exhibiting a CAGR of 8.8% over the forecast period of 2024-2031. Rising cases of cancer worldwide and increasing FDA approval of PARP inhibitor drugs to treat cancer can drive the market growth.
Market Dynamics:
Rising incidence of cancer can drive the global PARP inhibitor market growth. According to WHO, cancer burden has increased to 19.3 million cases and 10 million cancer deaths in 2020. PARP inhibitors have shown promising results in treating cancers caused due to BRCA gene mutations such as breast, ovarian and prostate cancers.
FDA approval of new PARP inhibitors to treat various cancer types also drives the market growth. In 2021, FDA approved Lynparza developed by AstraZeneca to treat HER2-negative breast cancer. FDA had approved Lynparza and Zejula to treat ovarian cancer.
Growing Cancer Incidence Can Drive Global PARP Inhibitor Market
Rising cancer burden can drive the market growth. There were 18 million new cancer cases and 9.6 million cancer deaths in 2018. PARP inhibitors are mainly used for treating various types of cancers like breast cancer, ovarian cancer and prostate cancer. With more people being diagnosed with cancer every year, the need and demand for innovative targeted cancer therapies like PARP inhibitors increases significantly. Pharmaceutical companies are investing heavily in research and development of new PARP inhibitors to capitalize on this growth opportunity.
Increased Awareness and Approvals of PARP Inhibitors Boosts its Adoption
In recent years, there has been a substantial increase in awareness among patients, doctors as well as the medical community regarding PARP inhibitors and their clinical benefits. Several PARP inhibitors have received regulatory approvals for treatment of BRCA mutated cancers like breast and ovarian cancer. For instance, Lynparza by AstraZeneca received accelerated USFDA approval in 2018 for BRCA mutated metastatic pancreatic cancer. This boosted the adoption of PARP inhibitors in clinical practice. Moreover, ongoing clinical trials are evaluating the efficacy of PARP inhibitors in other cancer types as well, and this can increase their clinical usage if successful.
Cost of Treatment Can Hamper Market Growth
The high cost of PARP inhibitor drug development as well as the treatment cost can hamper the market growth. It requires huge investments ranging upwards of US$ 2-US$ 3 billion to develop a new PARP inhibitor drug and obtain marketing approval. This financial burden is passed on to the consumers in the form of high drug prices. For instance, the list price of AstraZeneca's Lynparza is over US$ 10,000 per month. This makes PARP inhibitor therapy unaffordable for most patients. The high cost of care also poses reimbursement and access challenges.
Lack of Biomarker Clinical Utility Hamper its Widespread Adoption
Currently, only a specific patient subgroup that is BRCA mutated cancers show optimal response to PARP inhibitors. However, there is an ongoing effort to extend PARP inhibition to wider populations beyond BRCA mutated tumors. But the lack of validated clinical biomarkers predicting sensitivity or resistance to PARP inhibitors can hinder this progress. Without robust biomarkers to identify responders, it is difficult to determine appropriate patient selection for PARP inhibitors in clinical practice. This uncertainty regarding patient eligibility poses adoption challenges, and this hamper its broader clinical use. Considerable research is still needed to establish new biomarkers to facilitate personalized treatment approaches required for unlocking the market potential.
Combination Therapies Present Significant Market Opportunity
Recent clinical studies have shown promising outcomes of PARP inhibitors when used in combination with other anti-cancer drugs. For instance, trials evaluating PARP inhibitors along with immunotherapies like PD-1 inhibitors are yielding positive results in several cancer types. Such combination regimens have the potential to expand response rates as well as duration of response compared to PARP inhibitors alone. This represents a lucrative market opportunity as pharmaceutical companies will be able to leverage existing PARP inhibitor products while developing new combination therapies. The synergies between PARP inhibitors and other cancer drugs including chemotherapy agents are also being explored actively. Successful combination strategies could help address resistance issues and expand the eligible patient population unlocking a huge commercial potential.
Companion Diagnostic Tests Open New Growth Avenues
With more emphasis on personalized healthcare, there has been huge demand for companion diagnostic tests that can predict treatment response and guide clinical decisions. Developing assays and biomarkers to identify patient subsets most likely to benefit from PARP inhibitors has become an area of focused research. Companion diagnostics when approved together with PARP inhibitor drugs can help optimize patient selection and maximize clinical efficacy. This opens attractive revenue opportunities for companies to offer PARP inhibitor–companion diagnostic combinations. Also, novel diagnostic tests showing promise in ongoing studies, if validated, can drive repeat testing and extend the product life cycle. The market potential of companion diagnostics is expected to grow exponentially along with the boom in personalized medicine.
Link - https://www.coherentmarketinsights.com/market-insight/parp-inhibitor-market-3037
Key Developments
- In June 2024, Pfizer, a pharmaceutical company, announced that the FDA had approved TALZENNA (talazoparib), a PARP inhibitor, in combination with XTANDI (enzalutamide), for treating adults with metastatic castration-resistant prostate cancer (mCRPC) who have specific gene mutations related to homologous recombination repair (HRR)
- In August 2023, Janssen, a part of Johnson & Johnson, a pharmaceutical company, had received U.S. FDA approval for AKEEGA, a novel tablet combining niraparib (a PARP inhibitor) with abiraterone acetate, alongside prednisone. It is the first and only dual-action treatment for adult patients with BRCA-positive metastatic castration-resistant prostate cancer (mCRPC), as determined by an FDA-approved test.
- In June 2023, AstraZeneca and Merck (known as MSD in certain regions) received FDA approval for LYNPARZA in combination with abiraterone and prednisone/prednisolone for treating adult patients with BRCA-mutated metastatic castration-resistant prostate cancer (mCRPC). Selection of patients for this therapy should be based on an FDA-approved companion diagnostic for LYNPARZA.
- In April 2020, GlaxoSmithKline (GSK) announced FDA approval for Zejula (niraparib) as a standalone maintenance treatment for women with advanced ovarian, fallopian tube, or peritoneal cancer who have responded to initial platinum-based chemotherapy, regardless of biomarker status. This expands treatment access beyond the previous 20% restricted to those with BRCA mutations.
Key Players: AstraZeneca, GlaxoSmithKline, Merck Co. & Inc, AbbVie Inc, Clovis Oncology, Medivation, Johnson & Johnson Services, Inc, Pfizer Inc., Repare Therapeutics, Inc., Genentech, Inc., Artios Pharma, Sierra Oncology, Inc., KaryopharmTherapeutics Inc., Ono Pharmaceutical Co., Ltd., Jiangsu Hengrui Medicine Co., Ltd..
