PARP Inhibitor Biomarkers Market

Global PARP Inhibitor Biomarkers Market Size, Share & Trends Analysis Report By Product (Kits, and Assays), By Application, By Services (BRCA 1 & 2 Testing, HRD Testing, HRR Testing, and Others), By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-22827 Publication Date: May-2024 Number of Pages: 222
2023
USD 871.3 Million
2031
USD 1.6 Billion
CAGR
8.3%
Historical Data
2020 to 2022

Market Report Description

The Global PARP Inhibitor Biomarkers Market size is expected to reach $1.6 billion by 2031, rising at a market growth of 8.3% CAGR during the forecast period.

North America boasts advanced healthcare infrastructure, including well-established clinical laboratories, oncology centres, and research institutions. Thus, the North America region acquired 42.5% revenue share in the market 2023. The availability of diagnostic technologies and skilled healthcare professionals enhances the accessibility and utilization of biomarker testing services, driving the demand for it in North America.

PARP Inhibitor Biomarkers Market Size - Global Opportunities and Trends Analysis Report 2020-2031

Oncology research is continually uncovering new biomarkers associated with cancer development, progression, and response to therapy. As our understanding of the molecular pathways underlying cancer improves, researchers are identifying biomarkers that predict response to specific treatments, including it.

Additionally, point-of-care testing brings diagnostic capabilities closer to the patient, enabling biomarker testing to be performed outside traditional laboratory settings, such as outpatient clinics, physician offices, or even the patient’s home. Hence, the expansion of point-of-care testing is raising the market’s growth.

However, Biomarker testing often involves sophisticated laboratory techniques and specialized equipment, which can be expensive to procure and maintain. Additionally, the cost of reagents, consumables, and personnel required for biomarker testing adds to the overall expense. In conclusion, the high cost of biomarker testing hinders the market’s growth.

Economic hardships and changes in healthcare priorities during the pandemic affected patient access to cancer treatments, including this. Financial constraints, job losses, and changes in insurance coverage may have influenced treatment decisions and patient adherence. Thus, the COVID-19 pandemic had a negative impact on the market.

Driving and Restraining Factors
PARP Inhibitor Biomarkers Market
  • Growing expansion of oncology research
  • Expansion of point-of-care testing
  • Increasing prevalence of cancer worldwide
  • High cost of biomarker testing
  • Complexity of biomarker interpretation
  • Growing awareness of biomarker testing
  • Increasing development healthcare infrastructure
  • Limited availability of targeted therapies
  • Increasing competition from alternative therapies

Product Outlook

Based on product, the market is divided into kits and assays. In 2023, the kits segment garnered 63.8% revenue share in the market. Biomarker testing kits offer a user-friendly and convenient solution for healthcare providers to perform biomarker testing in-house without requiring specialized laboratory infrastructure or expertise.

Application Outlook

Based on application, the market is categorized into breast cancer, ovarian cancer, and others. The ovarian cancer segment witnessed 30.7% revenue share in the market in 2023. PARP inhibitors have demonstrated clinical efficacy in treating ovarian cancer patients with BRCA mutations. Clinical trials have shown that PARP inhibitors.

PARP Inhibitor Biomarkers Market Share and Industry Analysis Report 2023

Services Outlook

On the basis of services, the market is segmented into BRCA 1 & 2 testing, HRD testing, HRR testing, and others. The BRCA 1 & 2 testing segment recorded 41.8% revenue share in the market in 2023. BRCA1 and BRCA2 mutations are strongly associated with increased sensitivity to this in certain cancers, particularly breast and ovarian cancer.

Free Valuable Insights: Global PARP Inhibitor Biomarkers Market size to reach USD 1.6 Billion by 2031

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 24.4% revenue share in the market. The Asia Pacific region is experiencing a significant increase in the incidence of cancer, including breast, ovarian, and other cancers associated with PARP inhibitor therapy.

PARP Inhibitor Biomarkers Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 871.3 Million
Market size forecast in 2031 USD 1.6 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 8.3% from 2024 to 2031
Number of Pages 223
Number of Tables 250
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Product, Services, Application, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Myriad Genetics, Inc., Thermo Fisher Scientific, Inc., Illumina, Inc., NeoGenomics Laboratories, Qiagen N.V, Agilent Technologies, Inc., Merck KGaA, Bayer AG, AstraZeneca PLC, GlaxoSmithKline PLC (GSK)
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List of Key Companies Profiled

  • Myriad Genetics, Inc.
  • Thermo Fisher Scientific, Inc.
  • Illumina, Inc.
  • NeoGenomics Laboratories
  • Qiagen N.V
  • Agilent Technologies, Inc.
  • Merck KGaA
  • Bayer AG
  • AstraZeneca PLC
  • GlaxoSmithKline PLC (GSK)

PARP Inhibitor Biomarkers Market Report Segmentation

By Product

  • Kits
  • Assays

By Application

  • Breast Cancer
  • Ovarian Cancer
  • Others

By Services

  • BRCA 1 & 2 Testing
  • HRD Testing
  • HRR Testing
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

This Market size is expected to reach $1.6 billion by 2031.

Growing expansion of oncology research rates are driving the Market in coming years, however, High cost of biomarker testing restraints the growth of the Market.

Myriad Genetics, Inc., Thermo Fisher Scientific, Inc., Illumina, Inc., NeoGenomics Laboratories, Qiagen N.V, Agilent Technologies, Inc., Merck KGaA, Bayer AG, AstraZeneca PLC, GlaxoSmithKline PLC (GSK)

The expected CAGR of this Market is 8.3% from 2024 to 2031.

The Breast Cancer segment is leading the Market by Application in 2023; thereby, achieving a market value of $735.9 Million by 2031.

The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $669.5 Million by 2031.

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