Pune, India, July 22, 2020 (GLOBE NEWSWIRE) -- Global PARP Inhibitor Market was valued at USD 924 million in 2018 and predicted to grow at an exponential CAGR of 27.4% during the forecast period. The pharmaceutical industry offers an opportunity to PARP inhibitors market in a promising new area of cancer therapeutics. A shift in focus on preventing the occurrence of breast cancer may ultimately have a much larger impact on reducing breast cancer mortality and morbidity with PARP inhibitors. Significant results from preclinical studies and clinical trials highlight the potential promise that PARP inhibitors hold for the treatment of a subset of breast cancer patients. These results have propelled PARP inhibitor development forward and several manufacturers are actively involved in clinical trials.
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PARP inhibitor is a form of targeted cancer drug used in the treatment of ovarian cancer for women. It is also in trials as a treatment for all other types of cancers. However, there is much that remains to be understood about the optimal use of PARP inhibitors.
The COVID-19 Impact on the Global PARP Inhibitor Market
The COVID-19 pandemic has had a serious and disruptive effect on the conduct of clinical trials, with trials being immediately delayed. In the short term, research staff and resources have been reassigned to manage the rush of patients with COVID-19 at many academic institutions and participating hospitals, and routine clinical research activities have been suspended. Trials testing treatments for COVID-19 have been prioritized. Research-related appointments to hospitals for site selection or qualification, source data verification, drug accountability, audit, and site staff training by contract research organizations (CROs) and sponsors have been canceled because of travel restrictions. COVID-19 has had a huge and negative effect on cancer treatment and research.
Iynparza to Lead the Drug Segment of the PARP Inhibitor Market
Based on drug the market is segmented into lynparza, niraparib, rucapairb, talazoparib, and veliparb. The lynparza segment will dominate the market because earning approvals from the FDA for the treatment of ovarian cancer patients following at least one line of chemotherapy. Several PARP inhibitors are in the late-stage pipelines that are showing promising results in the recent released clinical trial information.
High Demand for PARP Inhibitor for Ovarian Cancer to Propel Growth of the Market
In the indication segment, the ovarian cancer segment held a dominant position in the global PARP market in 2018, as PARP inhibitors are used extensively for the treatment of ovarian cancer. PARP inhibitors help damaged DNA to repair itself. Hence, they are becoming increasingly useful in treating ovarian cancer.
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North America Held a Major Market Share of the Global PARP Inhibitor Market
North America holds a dominant position in the global PARP inhibitor market. The region's dominance has been associated to aging population and prevalence of large number of diseases and disorders. A majority of elderly people suffer from cancer. According to the Administration for Community Living, the geriatric population (people aged 65 years or above) in the U.S. stood at 46.2 million in 2014. Thus, the rising elderly population is likely to drive the global PARP inhibitors market during the forecast period.
Companies Keen to Gain FDA Approvals with Clinical Trials and R&D
PARP Inhibitor Market vendors are making substantial efforts in adopting advanced technologies essentially by allying and partnering will facilitate the demand for PARP Inhibitor.
- April 29, 2020 - GSK has vastly expanded its market for cancer therapy Zejula — the crown jewel at the heart of its $5 billion acquisition of Tesaro — by winning FDA approval for the drug in a large subset of patients with ovarian cancer.
- Jul 24, 2019 - New research out of UT Southwestern Medical Center have uncovered a mechanism by which the drugs attack cancer, suggesting they could be put to use in many more patients.
- In July 2017, AstraZeneca and Merck & Co., Inc. announced a collaboration for the development and commercialization of AstraZeneca's LYNPARZA (olaparib) indicated for the treatment of multiple cancer types.
Key participants operating in the market include AstraZeneca Plc., Johnson & Johnson, GlaxoSmithKline plc., Pfizer, Inc., Jiangsu Hengrui Medicine Co., Ltd, Clovis Oncology Inc., AbbVie Inc., Bristol - Myers Squibb, Merck KGaA, Genentech, Inc., Sierra Oncology, Inc., Repare Therapeutics Inc., Ono Pharmaceutical Co., LTD., and Karyopharm Therapeutics Inc.
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Search Important insights on “PARP Inhibitor Market, by Indication (Breast Cancer, Ovarian Cancer, Prostate Cancer, Pancreatic Cancer), By Region (Western Europe, North America, Asia Pacific, Eastern Europe, Middle East, and the Rest of the World), and Distribution Channel (Hospitals, Retail Pharmacies, Online Channels), and By Drug (Veliparb, Niraparib, Lynparza, Talazoparib, Rucapairb) – Market Forecast & Assessment (2017-2028).”
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