A number of factors are driving global PARP inhibitors market on an upward growth trajectory. Some of these include increase in incidence of cancer, growing adoption of these inhibitor drugs, and advancement in healthcare sector. Additionally, increase in geriatric population is also playing a crucial role in propelling the global PARP inhibitors market forward over the forecast period of its upcoming report on the market – 2019 to 2029. TMRR states that over the stated period, players will find novel growth opportunities in the market and the global PARP inhibitors market itself would witness an increase in valuation. It is noteworthy here that players are deploying innovative methods and advanced techniques to come up with effective cancer treatments and this is also set to drive the market on an upward growth trajectory.
Global PARP Inhibitors Market: Competitive Landscape
Multiple measures are being opted for by global PARP Inhibitors market players to ensure growth. Some of these are leading to notable developments in the region. It is pertinent to note here that some of the significant growth strategies opted by market players are new product launches and forging partnerships and collaborations, strategic and synergistic.
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The vendor landscape of global PARP inhibitors market is quite consolidated owing to handful players, claiming a sizeable share of the market. Most prominent players in the market are:
- AbbVie Inc.
- Clovis Oncology
Global PARP Inhibitors Market: Key Trends and Drivers
While stringent government regulations and frequent product recalls are acting as a dampener to growth in global PARP inhibitors market, a number of positive trends and drivers are fuelling growth in it as well. Some of the positive growth factors, as identified by TMRR, include:
- Cancer is witnessing an increase in number of people affected by it each year and this is pushing the global PARP inhibitors market on a higher growth curve. A number of reasons – environmental and genetic – are driving the market forward. As of now about one in every six deaths in the world is caused by cancer. In 2018, 9.6 million deaths were caused by the healthcare menace.
- Massive increase in number of people aged 60 an above is anticipated by 2050 – 1 billion people from current ~970 million. In some regions such as that of Europe and North America, the number is going to be more pronounced. It is noted in a recent study that across the world, people aged 65 and above will one in every six by 2050. It is pertinent to note here that this age group saw a higher number of people in 2018 than the age group of 5 and below saw in its own bracket.
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Global PARP Inhibitors Market: Regional Analysis
Asia Pacific (APAC) region is set be a lucrative regional market over the stated forecast period owing to varied reasons. .Market players will have a keen eye here owing to a positive outlook promised by the region. Latin America is also showing promise of growth in the coming few years. Some of the factors that would help these regions chart notable growth are increase in government investment, directed towards improvement of healthcare outcomes, increase in number of hospitals, and a broad population base. These factors are also set to drive the regional PARP inhibitors market higher and forward, creating novel and untapped growth opportunities in the market.
Based on drug type, the global PARP inhibitors market can be segmented into:
Based on indication, the global PARP inhibitors market can be divided into:
- Ovarian Cancer
- Breast Cancer
- Prostate Cancer
- Pancreatic Cancer
- Lung Cancer
Based on distribution channel, the global PARP inhibitors market can be classified into:
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
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