PARP Inhibitors Market: Increase in Elderly Population Fueling Global Market
Global PARP Inhibitors Market: Introduction
A PARP (poly ADP-ribose polymerase) inhibitor is a substance that blocks PARP enzyme in the cell. DNA damage occurs during cancer. Blocking of PARP helps the cancer cells in repairing their damaged part of DNA.
Global PARP Inhibitors Market: Competition Landscape
Key players operating in the global PARP inhibitors market are AstraZeneca, Tesaro, AbbVie Inc., Medivation, and Clovis Oncology. The global market is highly consolidated, with the presence of a small number of manufacturers. Increase in strategic collaborations and new product launches are expected to drive the global PARP inhibitors market during the forecast period.
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AstraZeneca is a biopharmaceutical company engaged in the discovery, manufacture, distribution, and commercialization of biopharmaceutical products. The company is a leading player in the global pharmaceutical sector. It offers various services and products in therapeutic areas such as cardiovascular and metabolic diseases; oncology; and respiratory, inflammation, and autoimmunity (RIA). Additionally, the company provides products useful in the treatment of infections, neurologic disorders, and gastrointestinal diseases. With a high focus on research and development for certain specific aspects of neurodegenerative diseases, analgesia, and psychiatry, AstraZeneca continues to collaborate with other innovative partners across industry and academia. The areas of cognitive disorders, chronic pain, and other central nervous system disorders still experience significant unmet medical needs.
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AbbVie, Inc. develops and distributes pharmaceutical products worldwide. The company offers pharmaceutical products for use in testosterone replacement therapy and the treatment of hypothyroidism and autoimmune diseases. It distributes products directly to wholesalers, government agencies, distributors, health care facilities, and specialty pharmacies worldwide. HUMIRA, a biologic therapy for the treatment of autoimmune diseases, is the company’s blockbuster drug. It accounted for around 63% share of the company’s sales revenues in 2014. The company sells its products in more than 170 countries across the globe.
Global PARP Inhibitors Market: Dynamics
The global PARP inhibitors market is primarily driven by increase in the rates of incidence and prevalence of cancer. In addition, increase in the adoption of PARP inhibitor drugs, growth of geriatric population, and advancements in the global health care sector are expected to boost the global PARP inhibitors market in the next few years. Furthermore, the existing market players are deploying advanced techniques to come up with innovative methods for the development of technologically advanced treatments for cancer. This is likely to propel the demand for PARP inhibitors during the forecast period. However, frequent product recalls and stringent government regulations are expected to restrain the global market in the next few years.
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Increase in Incidence of Cancer Driving Global PARP Inhibitors Market
Cancer is the leading cause of death globally, after cardiovascular diseases. According to the World Health Organization (WHO), cancer accounts for 8.3 million deaths every year, with 70% new cancer cases expected to be reported in the next 20 years. Increase in the cancer-afflicted population is anticipated to be a key driver of the global PARP inhibitors market during the forecast period. According to a report by the Centers for Disease Control and Prevention (CDC) published in 2014, the number of cancer patients diagnosed in the U.S. reached approximately 21 million. The number is expected to reach 25.4 million by the end of 2024. Over 60% of the world’s new cancer cases occur in Asia, Africa, and South America. Nearly the same percentage of cancer deaths take place in these regions. Stomach, liver, lung, breast, and esophageal cancer are most prevalent worldwide.
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