SEATTLE, April 13, 2020 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global PARP inhibitor biomarkers market is valued at US$ 374.9 million in 2019, and is projected to exhibit a CAGR of 24.5% over the forecast period (2019–2027).
Key Trends and Analysis of the Global PARP Inhibitor Biomarkers Market:
Key trends in the market are the rising incidence of cancer, as well as product launches, approvals, and mergers and acquisitions among key market players.
According to the World Health Organization’s 2018 report, cancer is the second leading cause of morbidity and mortality worldwide and was responsible for an estimated 9.6 million deaths in 2018. Similarly, According to the same source, around 1 in 6 deaths occur due to cancer across the globe.
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Product launches and approvals by market players is expected to contribute to growth of global PARP inhibitor biomarkers market during the forecast period. For instance, in June 2017, Ambry Genetics (Ambry), a clinical genetics-testing lab, launched two paired (simultaneous germline and somatic) genetic tests called TumorNext-HRD and TumorNext-Lynch. TumorNext-HRD is the first test to provide simultaneous genomic information regarding both somatic and hereditary cancer and confirm eligibility for targeted treatment options.
Moreover, in October 2019, Myriad Genetics, Inc. received the U.S. Food and Drug Administration’s approval for myChoice CDx as a companion diagnostic to identify women with advanced ovarian cancer who are candidates for Zejula (niraparib) in the late-line treatment setting.
Furthermore, key players operating in the market are focused on adopting merger and acquisition strategies, in order to expand their product offerings in the global markets. In June 2018, F. Hoffmann-La Roche AG and Foundation Medicine, Inc. entered a merger agreement to accelerate availability of comprehensive genomic profiling in oncology. The merger focuses on driving ubiquity of Foundation Medicine’s high quality comprehensive genomic profiling (CGP) testing and innovative data services in order to achieve Roche’s vision of a personalized healthcare system.
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Key Market Takeaways:
- The global PARP inhibitor biomarkers market is expected to exhibit a CAGR of 24.5% during the forecast period (2019–2027) owing to the increasing incidence of breast cancer. According to the World Cancer Research Fund International’s report of 2018, breast cancer was at the second position among the total number of cancer cases worldwide, accounting for 2,088,849 new cases worldwide in 2018
- North America is expected to hold a prominent share in the global market in 2019 owing to increasing product approval in the region. For instance, In July 2019, Foundation Medicine, Inc., a subsidiary of F. Hoffmann-La Roche AG, received approval from the U.S. Food and Drug Administration (FDA) for FoundationOne CDx to be used as a companion diagnostic for LYNPARZA (Olaparib) for first line maintenance therapy in BRCA-mutated advanced ovarian cancer.
Key players operating in the global PARP inhibitor biomarkers market include—
Myriad Genetics, Inc., F. Hoffmann-La Roche AG, Invitae Corporation, NeoGenomics Laboratories, Inc., and BPS Bioscience, Inc.
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Market Segmentation:
- Global PARP Inhibitor Biomarkers Market, By Product & Services:
- Product Type
- Kits
- Assays
- Services
- BRCA 1 & 2 Testing
- HRD Testing
- HRR Testing
- Others
- Product Type
- Global PARP inhibitor Market, By Application:
- Breast Cancer
- Ovarian Cancer
- Others (Prostate, Pancreatic, etc.)
- Global PARP inhibitor Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country:
- South Africa
- Central Africa
- North Africa
- By Country:
- North America
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