Global PARP Inhibitor Biomarkers Market, by Product & Services (Product Type (Kits and Assays) and Services (BRCA 1 & 2 Testing, HRD Testing, HRR Testing and Others)), by Application (Breast Cancer, Ovarian Cancer, and Others (Prostate, Pancreatic, etc.) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 374.9 million in 2019, and is projected to exhibit a CAGR of 24.5% over the forecast period (2019–2027), as highlighted in a new report published by Coherent Market Insights.
An increasing number of research and development activities and government support to spread awareness about precision medicines such as DNA repair drugs is expected to drive the global PARP inhibitor biomarkers market growth during the forecast period
For instance, in February 2019, on the occasion of World Cancer Day, the Union for International Cancer Control (UICC) launched a 3-year campaign ‘I Am and I Will’ to inspire and encourage individuals, the health community, and governments to improve public awareness and access to early detection, screening, and diagnosis of cancer.
Moreover, in February 2019, the government of Australia announced an investment of US$ 1.6 Mn in an ovarian cancer project. The project Ovarian Cancer Australia is based on psychosocial support management providing care and support to ovarian cancer patients in Australia through tele-health services. According to the Australian government’s 2019 reports, there are around 400 high risk ovarian cancer patients who would benefit from the project.
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Furthermore, the government of Australia is also trying to reduce the cost of ovarian cancer treatment by listing ovarian cancer drugs such as Lynparza in the Pharmaceutical Benefits Scheme which is expected to help patients save around US$ 90,000 per year.
Moreover, the increasing research and development of new products is expected to drive the market growth during the forecast period.
For instance, in June 2018, researchers from Vall d'Hebron Institute of Oncology (VHIO) investigated in vivo mechanisms of PARPi resistance in patient-derived tumor xenografts (PDX) models generated by implanting tumor samples from patients with a germline BRCA1/2 mutation and breast or ovarian cancer to subsequently establish sensitivity or resistance to PARPi.
Browse 27 Market Data Tables and 26 Figures spread through 154 Pages and in-depth TOC on PARP Inhibitor Biomarkers Market, Global Forecast to 2027, by Product & Services (Product Type (Kits and Assays) and Services (BRCA 1 & 2 Testing, HRD Testing, HRR Testing and Others), by Application (Breast Cancer, Ovarian Cancer, and Others (Prostate, Pancreatic, etc.), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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Key players operating in the market are focused on collaboration and acquisition strategies in order to expand their product portfolio and strengthen their presence in the global market. For instance, in December 2018, NeoGenomics Laboratories, Inc. acquired Genoptix, Inc., a leading clinical oncology laboratory specializing in hematology and solid tumor testing. The acquisition has helped NeoGenomics to extend its reach to oncology practices and accelerated the company’s progress towards achieving growth objectives.
Key Takeaways of the Global PARP Inhibitor Biomarkers Market:
The global PARP inhibitor biomarkers market is expected to exhibit a CAGR of 5% over the forecast period owing to an increasing incidence of breast cancer. According to GLOBOCAN statistics 2018, an estimated 43.6% new cases of breast cancer were registered in Asia Pacific in 2018
Among product & services, the product type segment is expected to dominate the global PARP inhibitor biomarkers market in 2019 owing to increasing patient population suffering from breast cancer, which has increased the demand for early diagnosis of cancer.
Key players operating in the global PARP inhibitor biomarkers market are Myriad Genetics, Inc., F. Hoffmann-La Roche AG, Invitae Corporation, NeoGenomics Laboratories, Inc., and BPS Bioscience, Inc.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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