PARP (poly ADP-ribose polymerase) inhibitors are a class of targeted anticancer drugs used for breast cancer treatment. They work by blocking the activity of PARP enzymes that help repair damaged DNA within cancer cells. Without PARP activity, the unrepaired DNA damage in cancer cells causes them to die. PARP inhibitors are primarily used for breast cancers with harmful BRCA gene mutations, which means the cancer is more likely to respond to PARP inhibitor treatment. The global PARP inhibitor market size stands at US$ 6.13 billion in 2023 and is poised to grow significantly in the coming years.
The global PARP Inhibitor Market is estimated to be valued at US$ 6.13 billion in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
The increasing prevalence of breast cancer globally presents a major market opportunity for PARP inhibitors. According to the World Health Organization, breast cancer is by far the most common cancer in women worldwide. It is estimated that 2.3 million women were diagnosed with breast cancer in 2020. With growing awareness and improved detection, the number of new cases is on the rise annually. PARP inhibitors have emerged as an effective treatment option for advanced HER2-negative breast cancers with BRCA mutations. Their ability to specifically target cancers with DNA repair defects makes them an attractive targeted therapy. This growing breast cancer patient pool represents a significant revenue potential for PARP inhibitor manufacturers over the forecast period.
Porter's Analysis:
Threat of new entrants: The entry of new players in the PARP inhibitor market is moderate as it requires significant investments in R&D for drug development and approval process from regulatory authorities.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as pharmaceutical products are not significantly differentiated in this market and buyers can switch between available treatment options.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate as raw material suppliers operate in a fragmented market and pharmaceutical companies often engage multiple suppliers to avoid dependence on a single vendor.
Threat of new substitutes: The threat of substitutes is moderate as targeted therapies like immunotherapy and chemotherapy exist in the cancer treatment market but PARP inhibitors provide more effective treatment in certain cancer indications.
Competitive rivalry: Intense as the major players compete to develop newer and more effective PARP inhibitors and to gain market share through clinical trials and product approvals.
SWOT Analysis:
Strengths: High unmet medical needs for breast and ovarian cancer treatment. Improved outcomes compared to chemotherapy alone. Strong pipeline and ongoing clinical trials.
Weaknesses: High research and development costs. Risk of drug resistance developing over time on treatment. Requirement of genetic testing before prescribing.
Opportunities: Potential to expand approvals into other cancer indications like prostate, pancreatic and breast cancers. Emerging combination therapies with other oncology drugs holds promise.
Threats: Patent expiries of major drugs may boost biosimilars market. Stringent regulatory pathway for cancer drugs. Dependence on few key markets like US and five European countries for revenues.
Key Takeaways:
The Global PARP Inhibitor Market is expected to witness high growth over the forecast period supported by ongoing research efforts to expand therapeutic applications. The approvals granted to Lynparza and Zejula in breast cancer and Rubraca in prostate cancer are positive developments.
North America currently dominates the PARP inhibitors market owing to availability of advanced healthcare facilities, high healthcare spending and large patient population undergoing cancer treatment in the region. However, Asia Pacific is likely to offer lucrative opportunities for market players amid increasing awareness, healthcare reforms and economic growth in many Asian countries.
Key players operating in the PARP inhibitor market are AstraZeneca, GlaxoSmithKline plc, Pfizer Inc., Clovis Oncology, Inc., Tesaro (acquired by GlaxoSmithKline). Among these AstraZeneca’s Lynparza and Tesaro’s Zejula have emerged as top-selling PARP inhibitors worldwide. All major pharmaceutical companies are focusing on expanding the therapeutic scope of their PARP inhibitor drugs through ongoing clinical trials.
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