PARP inhibitor biomarkers are proteins or other molecules that provide an indication of the presence or extent of PARP inhibitor cancer treatment. They can play an important role in early cancer diagnosis and prognosis evaluation. PARP inhibitors are an emerging class of targeted anti-cancer drugs used for breast, ovarian, prostate and other cancers with defective homologous recombination repair. The global PARP Inhibitor Biomarkers Market is estimated to be valued at US$ 5.62 Bn in 2024 and is expected to exhibit a CAGR of 49.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
One of the major opportunities expected to drive the PARP inhibitor biomarkers market is their potential use in early disease diagnosis. Biomarkers play an important role in early cancer diagnosis by providing clues to the presence of cancer even before clinical symptoms appear. With the help of PARP inhibitor biomarkers, cancers can be detected at an early, more treatable stage. This allows doctors to design more effective treatment plans and improve clinical outcomes. As PARP inhibitor biomarkers continue to be researched and developed, their utility in facilitating early and accurate cancer screening is expected to significantly boost the growth of this market over the forecast period.
Porter's Analysis
Threat of new entrants: The PARP Inhibitor Biomarkers market has moderate threat of new entrants due to the strong presence and dominance of few key players in the market. However, new players can enter the market by developing innovative solutions and through strategic partnerships and collaborations.
Bargaining power of buyers: The bargaining power of buyers is moderate. However, buyers have high bargaining power due to the availability of substitutes. The buyers can easily switch to alternatives if not satisfied.
Bargaining power of suppliers: As few international players dominate the supply market, the bargaining power of suppliers is moderate to high. Suppliers can influence pricing and control the market dynamics.
Threat of new substitutes: The threat of new substitutes is low as there are limited options available for PARP Inhibitor Biomarkers.
Competitive rivalry: The competitive rivalry is high among existing players due to their strong global presence and focus on new product innovations.
SWOT Analysis
Strengths: Strong research expertise, established market dominance of key players, growing investments for novel biomarker development.
Weaknesses: High R&D costs, lengthy product approval timelines, lack of skilled labor force.
Opportunities: Increasing healthcare expenditure, growing cancer incidence, collaborations for biomarker discovery.
Threats: Stringent regulatory framework, reimbursement issues, covid-19 impact.
Key Takeaways
The global PARP Inhibitor Biomarkers Market is expected to witness high growth at a CAGR of 49% during the forecast period of 2024 to 2031. The market size is projected to reach US$ 5.62 Bn by 2024.
Regional analysis: North America is currently the dominant region for PARP Inhibitor Biomarkers market owing to advanced healthcare infrastructure and rising adoption of targeted cancer therapies. Asia Pacific is expected to be the fastest growing market due to growing patient pool, improving research capabilities and increasing healthcare spending in countries like China and India.
Key players: Key players operating in the PARP Inhibitor Biomarkers market are BASF, Chembond Chemicals Limited, GE Water and Process Technologies, Kurita Water Industries Ltd., Ion Exchange, Kemira Oyj, AkzoNobel N.V., Solenis, Thermax Ltd., Veolia Water Technologies. These players are focused on developing novel PARP inhibitors and companion diagnostics through partnerships and acquisitions.
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The Global PARP Inhibitor Biomarkers market held USD 465.6 million in 2020 and is to grow with a CAGR of 24.2% from 2020-2030.
It consists of a group of 17 enzymes combining several (poly) ADP-ribose units in a chain and transferring them into the target proteins.
It is believed that PARP inhibitors are trapped in single-strand DNA pauses that lead to dual-strand DNA pausing when replication of the DNA is attempted.
Double-stranded DNA breaks would normally be re-mediated by the HRR process, an advanced process that includes several proteins, particularly BRCA1 and BRCA2, which are also known as PARP inhibitors biomarkersMarket Dynamics and Factors:Download Research Sample with Industry Insights @ https://www.trendsmarketresearch.com/report/sample/13663The main drivers for PARP inhibitors biomarkers market growth are the increasing prevalence of cancer worldwide.
In total, around 1 in 6 deaths occur because of ca, according to the same source.Increasing breast and ovarian cancer incidences are also expected to lead to PARP inhibitors biomarkers market growth over the projected period.
Breast cancer was among the 2nd largest total number of cancer cases worldwide, for example according to a 2018 report by the World Cancer Research Fund, which in 2018 accounted for 2,088,849 new cases.
