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| PARP Inhibitor Biomarkers Market |
PARP inhibitor biomarkers are used in precision oncology for detecting diseases like breast cancer and ovarian cancer. They play a vital role in the treatment journey of patients by identifying the DNA damage response pathway. With rising cancer prevalence worldwide, PARP inhibitor biomarkers are gaining significant importance. The global PARP Inhibitor Biomarkers Market is estimated to be valued at US$ 4.87 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing incidence of cancer and growth in precision medicine are the
major factors driving the demand for PARP inhibitor biomarkers. It is estimated
that worldwide cancer burden will reach 27.5 million new cancer cases and 16.3
million cancer deaths by 2040. Advancements in precision oncology therapies
that leverage biomarkers to determine treatment efficacy have enabled
oncologists to offer personalized treatment regimens to cancer patients.
Biomarkers such as PARP inhibitior help determine the patients that are likely
to respond to PARP inhibitor therapy and optimize treatment outcomes. Growing
R&D initiatives by pharmaceutical companies to develop combination
therapies utilizing PARP inhibitors is also contributing to the market growth.
With increasing focus on targeted therapies, the PARP inhibitor biomarkers
market is expected to witness significant expansion over the forecast period.
Segment Analysis
The global PARP inhibitor biomarkers market is dominated by breast cancer sub
segment. Breast cancer accounts for over 30% market share owing to high
prevalence and increased application of PARP inhibitors such as olaparib and
talazoparib in treatment regimens for breast cancer. PARP inhibitors are
increasingly being used for patients with deleterious or suspected deleterious
germline BRCA1/2 mutations. This sub segment is expected to witness high growth
during forecast period.
Key Takeaways
The global PARP
Inhibitor Biomarkers Market Share is expected to witness high growth
during the forecast period of 2023 to 2030 supported by rising breast cancer
incidence worldwide and increasing adoption of precision medicine approach in
oncology. The North America region currently dominates the market owing to well
developed healthcare infrastructure and higher acceptance of advanced diagnostic
technologies among healthcare professionals in the region. Key players
operating in the PARP inhibitor biomarkers market are Sika AG, BASF SE, Fosroc
International Limited, Saint-Gobain Weber, The Euclid Chemical Company, Dayton
Superior Corporation, WR Meadows, Specified Technologies Inc, TCC Materials and
EMSEAL Joint Systems Ltd.
Regional analysis
The United
States holds majority market share currently due to high healthcare spending
and greater adoption of biomarker testing among oncologists. Asia Pacific
region is expected to witness fastest growth during forecast period supported
by growing burden of breast cancer and increasing awareness about predictive
biomarker tests among patients and physicians in region.
Key players
Key players
operating in the PARP inhibitor biomarkers market are focusing on new product
launches and growth through acquisitions to strengthen their market position.
Companies are also investing extensively in research and development activities
to develop novel biomarkers with potential application in precision oncology.
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