PARP Inhibitor Biomarkers Market Growth Driven by Rising Cancer Treatment Innovations

The global PARP inhibitor biomarkers market size is anticipated to reach USD 1,602.10 million by 2030 and is projected to grow at a CAGR of 8.54% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising incidence of breast cancer is a significant factor for market expansion in the PARP Inhibitors biomarkers sector. According to the WHO article published in 2022, increasing prevalence of cancer cases, with an estimated 20 million new cases of 9.7 million deaths reported. Despite advancements, the fight against cancer remains tough, with an estimated 53.5 million individuals surviving within 5 years of diagnosis. Moreover, Female breast cancer emerges as a significant concern, ranking second in global cases at 2.3 million (11.6%), accounting for 670,000 deaths (6.9%). Especially it stands as the most widespread among women across 157 out of 185 countries surveyed.

Advancements in genomic technologies have significantly contributed to developing and refining PARP inhibitor biomarkers. According to the NCBI article published in August 2021, these advancements have enabled researchers to identify and validate biomarkers that predict patients’ response to PARP inhibitors, thereby facilitating personalized treatment strategies. A study developed a 3D functional assay to identify biomarkers predictive of the response to poly-ADP ribose polymerase inhibitors (PARPis) in high-grade serous ovarian cancer (HGSOC) patients. This approach allowed for a more accurate and comprehensive understanding of how cells respond to PARP inhibitors in a physiologically relevant environment.

Gather more insights about the market drivers, restrains and growth of the Global PARP Inhibitor Biomarkers Market

The increasing expenditure for treatment and management fuels the market growth. According to the articleBioMed Central Ltd published in September 2022, particularly for breast and ovarian cancer, is a major issue influenced by several factors, including the stage of diagnosis, the specific treatments used, and the overall healthcare costs associated with cancer care. The provided sources offer insights into the financial burden of treatments and the factors contributing to their rising expenditure. Breast and ovarian cancer patients face significant financial burdens throughout their treatment journey.

The financial burden of oncology care can be significant and vary widely based on diagnosis stage and treatment methods. Patients diagnosed in later stages generally incur higher annual and cumulative healthcare expenses compared to those diagnosed earlier. This trend is evident in the data, showing notably higher mean annual and cumulative healthcare costs for patients diagnosed at later stages. The considerable rise in cumulative costs, particularly for stage IV diagnoses across various cancer types such as ovarian, emphasizes the critical importance of early detection. Timely diagnosis allows more effective treatment and also contributes to better patient outcomes and reduced healthcare expenditures further propelling market growth.

PARP Inhibitor Biomarkers Market Report Highlights

• The kits segment led the market with the largest revenue share of 65.35% in 2023. It is due to attributed of rising the awareness regarding effective diagnostics solutions

• The assays segment is anticipated to grow at the fastest CAGR during the forecast period, owing to being a crucial component for developing and validating PARP inhibitor biomarkers, enabling researchers and clinicians to measure these biomarkers’ levels in biological samples accurately

• Based on services, the BRCA1 & 2 testing segment led the market with the largest revenue share of 43.54% in 2023, due to its critical role in treatment. The rise in importance of PARP inhibitors for BRCA1 and BRCA2 mutation-associated cancers has further boosted its significance

• In terms of application, the breast cancer segment led the market with the largest revenue share of 48.42% in 2023. The ovarian cancer segment is anticipated to grow at the fastest CAGR during the forecast period

• North America dominated the market with the revenue share of 43.95% in 2023, owing to factors such as advancement in genomic technologies, high purchasing power parity, government support for quality healthcare, and funding for development of novel diagnostics

Key PARP Inhibitor Biomarkers Company Insights

• Some of the key players operating in the market include Myriad Genetics, Inc., Ambry Genetics, Thermo Fisher Scientific, Inc., and Illumina, Inc. The market is highly concentrated, with a small number of manufacturers accounting for majority of the share. New product developments, mergers and acquisitions, and collaborations are some of the major strategies adopted by these players to counter the stiff competition.

• Agilent Technologies, Inc, CENTOGENE N.V., and Amoy Diagnostics Co., Ltd. are some of the key emerging players in the global market with a focus on securing funding from governmental bodies and healthcare institutions. These companies are gaining innovative product introductions to tap into unexplored market segments.

List of Key Players in the PARP Inhibitor Biomarkers Market

• Myriad Genetics, Inc.
• Ambry Genetics
• Thermo Fisher Scientific, Inc.
• Illumina, Inc.
• CENTOGENE N.V.
• Amoy Diagnostics Co., Ltd.
• Invitae Corporation
• NeoGenomics Laboratories.
• QIAGEN
• Agilent Technologies, Inc

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