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PARP Inhibitor Biomarkers Market Size
PARP Inhibitor Biomarkers Market was valued at around USD 905.3 million in 2023 and is estimated to grow at 8.3% CAGR from 2024 to 2032. PARP inhibitor biomarkers refer to specific biological indicators used to predict or assess the effectiveness of PARP (Poly ADP-Ribose Polymerase) inhibitors in cancer treatment. These biomarkers are typically genetic or molecular characteristics present in tumor cells that influence the response to PARP inhibitors. They play a crucial role in precision medicine by helping oncologists identify patients who are most likely to benefit from PARP inhibitor therapy and tailor treatment plans accordingly.
Breast cancer is one of the most common types of cancer globally, and its prevalence has been steadily increasing over the years. For instance, breast cancer claims 670,000 lives worldwide annually, as reported by the World Health Organization (WHO) in 2022. Nearly half of all breast cancer diagnoses are found in women without identifiable risk factors beyond gender and age. In 2022, breast cancer ranked as the most prevalent form of cancer among women in 157 out of 185 countries. Its incidence spans across every nation globally. Approximately 0.5–1% of breast cancer cases manifest in men. This rise in prevalence necessitates more effective treatment options. PARP inhibitors have shown promise in the treatment of breast cancer, particularly in patients with BRCA mutations. Therefore, as the number of breast cancer cases rises, there is a greater demand for targeted therapies like PARP inhibitors, thereby propelling the growth of the market.
Further, personalized medicine in oncology which is estimated to reach USD 690 billion by 2032, customizes treatments based on the unique characteristics of each patient. PARP inhibitors, which focus on specific molecular pathways in cancer development, showcase this strategy. Biomarker testing assists clinicians in pinpointing the patients best suited for PARP inhibitor therapy, thus improving effectiveness while reducing side effects.
How big is the North America PARP inhibitor biomarkers market?
North America industry reached USD 369.4 million in 2023 and is expected to register a commendable CAGR from 2024-2032 due to growing occurrence of cancer in the region, particularly breast and ovarian cancers, which are key focuses for PARP inhibitors.
Why is the use of kits in PARP inhibitor biomarkers growing?
PARP inhibitor biomarkers industry from the kits segment is expected to record USD 1.1 million by 2032 due to increasing prevalence of cancer, particularly breast and ovarian cancers, heightening the demand for effective treatment options such as PARP inhibitors.
What is the size of the PARP inhibitor biomarkers market?
Market size for PARP inhibitor biomarkers was USD 905.3 million in 2023 and is expected to register 8.3% CAGR from 2024-2032 owing to the increasing prevalence of cancer and growing demand for personalized mediations worldwide.
Who are the key leaders in the PARP inhibitor biomarkers industry?
Agilent Technologies, Inc., Ambry Genetics, Amoy Diagnostics Co., Ltd., Centogene N.V, Illumina, Inc., Invitae Corporation, Myriad Genetics, Inc., Neogenomics, Inc., QIAGEN N.V., and Thermo Fisher Scientific Inc., are some of the major PARP inhibitor biomarkers companies worldwide.