Drug Repurposing Market

Global Drug Repurposing Market by Types (Disease-centric approach, Target-centric approach, Drug-centric approach), By Therapeutic Area (Same Therapeutic Area, Different Therapeutic Area), By Drug Molecule (Biologics, Small Molecule) and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA))

  • Report ID: HC-2433
  • Author: Growth Market Reports
  • Rating: 0.3
  • Total Reviews: 2
  • No. Of Pages: 248
  • Format:
  • Pub. Date: 12-07-2021
  • Share:

Market Outlook:

The global drug repurposing market was valued at USD 31,300.0 million in 2020 and is projected to reach USD 46,851.5 million by 2028, expanding at a CAGR of 5.4% during the forecast period. Drug repurposing is defined as “discovering new uses for licensed medication to offer the shortest feasible transition from bench to bedside” by the National Institutes of Health (NIH) of the United States Department of Health. It brings up several possibilities for addressing current unmet medical needs and developing cost-effective alternatives to the expensive drug development process.

Drug repurposing, known as medicine repositioning, is a strategy for finding a new medicinal use for a drug. This entails discovering a new clinical use for an already-approved medicine for a different indication or finding a therapeutic application for an unapproved drug. It provides many advantages over conventional drug discovery methods, including significant cost-saving and time-saving advantages. This technique is effective and has a low rate of failure. It improves a drug's therapeutic value and raises its success rate. Drug repurposing is actively pursued by several university research organizations and start-up companies. Many pharmaceutical corporations created alliances with these organizations for repurposing their existing drugs.


Drug Repurposing Market key takeaways

Market Dynamics

Major factor enabling the global Drug Repurposing market rising research and development activities in new uses of old drugs. Researchers are studying for the new usage of available drugs to cure chronic diseases such as cancer and tuberculosis. Conversely, legal implications associated with repurposed drugs is one of factor expected to hinder the market growth. Moreover, development of repurposed drugs in bacterial infections is expected to create opportunities in the market.

Drivers

Less R&D Expenditure on Drug Repurposing

The invention of drug requires years to be discovered and launched into the market. The procedure needs huge investments along with clinical trials. Increasing demand for drug repurposing requires study and research on available drugs. The market in Asia Pacific holds a substantial share of the global drug repurposing market, due to rapid increase in research and development activities. Low research cost and easy bioavailability are anticipated to propel the market around the globe.

Restraints

Legal Implications Associated with Repurposed Drugs

Repurposing drugs refers to finding new uses for generic drugs, such as those whose original patents expired. There are cases where new mechanisms of action are identified for drugs that are still under patent by the originator company. This leads to two possibilities: Originator company has an existing patent: If a company wants to develop a new indication for a patented drug, it must get permission and/or a license from the person or company holding the patent.

Segmental Outlook

By Type Segment

In terms of types, the drug repurposing market is segmented into disease-centric approach, target-centric approach, and drug-centric approach. The disease-centric approach segment is expected to expand at a significant pace during the forecast period. Compared to target and drug-centric repositioning, disease-centric repositioning is quicker and more linear. Disease-centric approaches uncover connections between old and emerging symptoms. The target-centric approach segment is projected to grow at a rapid pace. A target-centric strategy connects a known target and its approved medication to a new indication. Factors such as increasing advances in computational biology and computational technology and the requirement for financial investment for drug repurposing are anticipated to drive the demand for the drug repurposing.


Drug Repurposing Market by type

By Therapeutic Area Segment

In terms of therapeutic area, the drug repurposing market is segmented into same therapeutic area and different therapeutic area. According to the report, the majority of repurposing attempts and achievements occurred in the same therapeutic area as the original test, which is expected to boost the same therapeutic area segment during the forecast period. According to the study, drug manufacturers attempted to expand use in the same therapeutic area (for example, testing a breast cancer treatment for ovarian cancer) for 31% of FDA-approved drugs, with a high success rate. Repurposing existing drugs to treat different therapeutic area is gaining popularity, due to rising medicine prices and the slow pace of drug research and development. Such medications are expected to take over a significant portion of the pharmaceutical industry in the near future. These factors are expected to drive the different therapeutic area segment in the coming years.

By Drug Molecule Segment

In terms of drug molecules, the drug repurposing market is segmented into biologics and small molecules. The biologics segment is expected to expand at a significant pace during the forecast period. Biotechnology and analytical techniques advancements aided the growth of this segment and are anticipated to continue to do so in the future. Over the last decade, availability of biologics-based drugs and number of companies working with biologics continues to increase, leading to the growth of this segment. Biologics has several benefits over small molecules as medication. Small molecules are expected to cause harmful non-target effects, whereas biologics are relatively target-specific and their side effects are responsible to increase the therapeutic effect. These factors are expected to boost the biologic segment in the coming years. Factors such as use in treatment for various diseases and conditions, due to its small size and typical physicochemical properties, are anticipated to drive the demand for small molecules during the forecast period.


Drug Repurposing Market by drug molecule

Region Wise Outlook

Based on regions, the global drug repurposing market is fragmented into North America, Europe, Latin America, and Middle East & Africa. North America accounted for a significant share of the market in 2020 and the market in Asia Pacific is anticipated to expand at a substantial CAGR during the forecast period. The drug repurposing market is growing in North America, owing to increasing research and development activities in the region for repurposing of drugs. The drug repurposing market is expected to hold a substantial share during the pandemic period, owing to increasing recommendation of supplements and drugs by health providers around the globe. The market in Asia Pacific is expected to grow at a rapid pace, due to increasing research and study of drugs and its reactions with various types of bacteria and virus. Increasing technological advancements registered in the US is expected to fuel the regional share for drug repurposing in North America. The market in Brazil is expected to hold a considerable share of the global drug repurposing market, owing to the penetration of key players from Europe and North America in the country, which in turn, drives the regional share for Latin America.


Drug Repurposing market by regions

Key Benefits for Industry Participants & Stakeholders

  • In-Depth Analysis of The Global Drug Repurposing Market.
  • Historical, Current and Projected Market Size in Terms of Value.
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints and Opportunities Covered in The Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on From Global Drug Repurposing Market Performance

Segments

Key Segments Covered

By Types

  • Disease-centric approach
  • Target-centric approach
  • Drug-centric approach

By Therapeutic Area

  • Same Therapeutic Area
  • Different Therapeutic Area

By Drug Molecule

  • Biologics
  • Small Molecule

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Market Players Profiled in the Report

  • Algernon Pharmaceuticals
  • Biovista
  • Celentyx Ltd
  • ChemBio Discovery, Inc.
  • Chord Therapeutics SA
  • Excelra
  • Fios Genomics
  • Lantern Pharma, Inc.
  • Novartis AG
  • Paradigm Biopharmaceuticals Ltd
  • Predictive Oncology
  • Segue Therapeutics, LLC
  • Sosei Group Corporation
  • Teva Pharmaceutical Industries Ltd

Competitive Landscape

  • Key players in the global Drug Repurposing market are Algernon Pharmaceuticals, Biovista, Celentyx Ltd, ChemBio Discovery, Inc., Chord Therapeutics SA, Excelra, Fios Genomics, Lantern Pharma, Inc., Novartis AG, Paradigm Biopharmaceuticals Ltd, Predictive Oncology, Segue Therapeutics, LLC, Sosei Group Corporation, Teva Pharmaceutical Industries Ltd. These companies are considered as key market players of global Drug Repurposing market, based on their revenue, research & development (R&D) activities in the areas of improving offerings, and regional presence.
  • The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to cater the increasing demand for global Drug Repurposing market.
  • In January, 2019, The Icahn School of Medicine at Mount Sinai entered into a partnership with Paradigm Biopharmaceuticals Ltd. and ReqMed Company, Ltd. of Japan to develop the drug, pentosan polysulfate sodium, for the treatment of mucopolysaccharidosis (MPS).
Drug Repurposing Market by key players
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Drug Repurposing Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Drug Repurposing Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Drug Repurposing Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Drug Repurposing Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Drug Repurposing Market Size & Forecast, 2018-2028
      4.5.1 Drug Repurposing Market Size and Y-o-Y Growth
      4.5.2 Drug Repurposing Market Absolute $ Opportunity
   4.6 Global Drug Repurposing Market: Impact Of Key Regulations
Chapter 5 Global Drug Repurposing Market Analysis and Forecast By Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type
      5.1.2 Basis Point Share (BPS) Analysis By Type
      5.1.3 Absolute $ Opportunity Assessment By Type
   5.2 Drug Repurposing Market Size Forecast By Type
      5.2.1 Disease-centric approach
      5.2.2 Target-centric approach
      5.2.3 Drug-centric approach
   5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Drug Repurposing Market Analysis and Forecast By Therapeutic Area
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Therapeutic Area
      6.1.2 Basis Point Share (BPS) Analysis By Therapeutic Area
      6.1.3 Absolute $ Opportunity Assessment By Therapeutic Area
   6.2 Drug Repurposing Market Size Forecast By Therapeutic Area
      6.2.1 Same Therapeutic Area
      6.2.2 Different Therapeutic Area
   6.3 Market Attractiveness Analysis By Therapeutic Area
Chapter 7 Global Drug Repurposing Market Analysis and Forecast By Drug Molecule
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Drug Molecule
      7.1.2 Basis Point Share (BPS) Analysis By Drug Molecule
      7.1.3 Absolute $ Opportunity Assessment By Drug Molecule
   7.2 Drug Repurposing Market Size Forecast By Drug Molecule
      7.2.1 Biologics
      7.2.2 Small Molecule
   7.3 Market Attractiveness Analysis By Drug Molecule
Chapter 8 Global Drug Repurposing Market Analysis and Forecast by Region
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities by Region
      8.1.2 Basis Point Share (BPS) Analysis by Region
      8.1.3 Absolute $ Opportunity Assessment by Region
   8.2 Drug Repurposing Market Size Forecast by Region
      8.2.1 North America
      8.2.2 Europe
      8.2.3 Asia Pacific
      8.2.4 Latin America
      8.2.5 Middle East & Africa (MEA)
   8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
   9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 North America Drug Repurposing Analysis and Forecast
   10.1 Introduction
   10.2 North America Drug Repurposing Market Size Forecast by Country
      10.2.1 U.S.
      10.2.2 Canada
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 North America Drug Repurposing Market Size Forecast By Type
      10.6.1 Disease-centric approach
      10.6.2 Target-centric approach
      10.6.3 Drug-centric approach
   10.7 Basis Point Share (BPS) Analysis By Type
   10.8 Absolute $ Opportunity Assessment By Type
   10.9 Market Attractiveness Analysis By Type
   10.10 North America Drug Repurposing Market Size Forecast By Therapeutic Area
      10.10.1 Same Therapeutic Area
      10.10.2 Different Therapeutic Area
   10.11 Basis Point Share (BPS) Analysis By Therapeutic Area
   10.12 Absolute $ Opportunity Assessment By Therapeutic Area
   10.13 Market Attractiveness Analysis By Therapeutic Area
   10.14 North America Drug Repurposing Market Size Forecast By Drug Molecule
      10.14.1 Biologics
      10.14.2 Small Molecule
   10.15 Basis Point Share (BPS) Analysis By Drug Molecule
   10.16 Absolute $ Opportunity Assessment By Drug Molecule
   10.17 Market Attractiveness Analysis By Drug Molecule
Chapter 11 Europe Drug Repurposing Analysis and Forecast
   11.1 Introduction
   11.2 Europe Drug Repurposing Market Size Forecast by Country
      11.2.1 Germany
      11.2.2 France
      11.2.3 Italy
      11.2.4 U.K.
      11.2.5 Spain
      11.2.6 Russia
      11.2.7 Rest of Europe
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Europe Drug Repurposing Market Size Forecast By Type
      11.6.1 Disease-centric approach
      11.6.2 Target-centric approach
      11.6.3 Drug-centric approach
   11.7 Basis Point Share (BPS) Analysis By Type
   11.8 Absolute $ Opportunity Assessment By Type
   11.9 Market Attractiveness Analysis By Type
   11.10 Europe Drug Repurposing Market Size Forecast By Therapeutic Area
      11.10.1 Same Therapeutic Area
      11.10.2 Different Therapeutic Area
   11.11 Basis Point Share (BPS) Analysis By Therapeutic Area
   11.12 Absolute $ Opportunity Assessment By Therapeutic Area
   11.13 Market Attractiveness Analysis By Therapeutic Area
   11.14 Europe Drug Repurposing Market Size Forecast By Drug Molecule
      11.14.1 Biologics
      11.14.2 Small Molecule
   11.15 Basis Point Share (BPS) Analysis By Drug Molecule
   11.16 Absolute $ Opportunity Assessment By Drug Molecule
   11.17 Market Attractiveness Analysis By Drug Molecule
Chapter 12 Asia Pacific Drug Repurposing Analysis and Forecast
   12.1 Introduction
   12.2 Asia Pacific Drug Repurposing Market Size Forecast by Country
      12.2.1 China
      12.2.2 Japan
      12.2.3 South Korea
      12.2.4 India
      12.2.5 Australia
      12.2.6 South East Asia (SEA)
      12.2.7 Rest of Asia Pacific (APAC)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Asia Pacific Drug Repurposing Market Size Forecast By Type
      12.6.1 Disease-centric approach
      12.6.2 Target-centric approach
      12.6.3 Drug-centric approach
   12.7 Basis Point Share (BPS) Analysis By Type
   12.8 Absolute $ Opportunity Assessment By Type
   12.9 Market Attractiveness Analysis By Type
   12.10 Asia Pacific Drug Repurposing Market Size Forecast By Therapeutic Area
      12.10.1 Same Therapeutic Area
      12.10.2 Different Therapeutic Area
   12.11 Basis Point Share (BPS) Analysis By Therapeutic Area
   12.12 Absolute $ Opportunity Assessment By Therapeutic Area
   12.13 Market Attractiveness Analysis By Therapeutic Area
   12.14 Asia Pacific Drug Repurposing Market Size Forecast By Drug Molecule
      12.14.1 Biologics
      12.14.2 Small Molecule
   12.15 Basis Point Share (BPS) Analysis By Drug Molecule
   12.16 Absolute $ Opportunity Assessment By Drug Molecule
   12.17 Market Attractiveness Analysis By Drug Molecule
Chapter 13 Latin America Drug Repurposing Analysis and Forecast
   13.1 Introduction
   13.2 Latin America Drug Repurposing Market Size Forecast by Country
      13.2.1 Brazil
      13.2.2 Mexico
      13.2.3 Rest of Latin America (LATAM)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Latin America Drug Repurposing Market Size Forecast By Type
      13.6.1 Disease-centric approach
      13.6.2 Target-centric approach
      13.6.3 Drug-centric approach
   13.7 Basis Point Share (BPS) Analysis By Type
   13.8 Absolute $ Opportunity Assessment By Type
   13.9 Market Attractiveness Analysis By Type
   13.10 Latin America Drug Repurposing Market Size Forecast By Therapeutic Area
      13.10.1 Same Therapeutic Area
      13.10.2 Different Therapeutic Area
   13.11 Basis Point Share (BPS) Analysis By Therapeutic Area
   13.12 Absolute $ Opportunity Assessment By Therapeutic Area
   13.13 Market Attractiveness Analysis By Therapeutic Area
   13.14 Latin America Drug Repurposing Market Size Forecast By Drug Molecule
      13.14.1 Biologics
      13.14.2 Small Molecule
   13.15 Basis Point Share (BPS) Analysis By Drug Molecule
   13.16 Absolute $ Opportunity Assessment By Drug Molecule
   13.17 Market Attractiveness Analysis By Drug Molecule
Chapter 14 Middle East & Africa (MEA) Drug Repurposing Analysis and Forecast
   14.1 Introduction
   14.2 Middle East & Africa (MEA) Drug Repurposing Market Size Forecast by Country
      14.2.1 Saudi Arabia
      14.2.2 South Africa
      14.2.3 UAE
      14.2.4 Rest of Middle East & Africa (MEA)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Middle East & Africa (MEA) Drug Repurposing Market Size Forecast By Type
      14.6.1 Disease-centric approach
      14.6.2 Target-centric approach
      14.6.3 Drug-centric approach
   14.7 Basis Point Share (BPS) Analysis By Type
   14.8 Absolute $ Opportunity Assessment By Type
   14.9 Market Attractiveness Analysis By Type
   14.10 Middle East & Africa (MEA) Drug Repurposing Market Size Forecast By Therapeutic Area
      14.10.1 Same Therapeutic Area
      14.10.2 Different Therapeutic Area
   14.11 Basis Point Share (BPS) Analysis By Therapeutic Area
   14.12 Absolute $ Opportunity Assessment By Therapeutic Area
   14.13 Market Attractiveness Analysis By Therapeutic Area
   14.14 Middle East & Africa (MEA) Drug Repurposing Market Size Forecast By Drug Molecule
      14.14.1 Biologics
      14.14.2 Small Molecule
   14.15 Basis Point Share (BPS) Analysis By Drug Molecule
   14.16 Absolute $ Opportunity Assessment By Drug Molecule
   14.17 Market Attractiveness Analysis By Drug Molecule
Chapter 15 Competition Landscape
   15.1 Drug Repurposing Market: Competitive Dashboard
   15.2 Global Drug Repurposing Market: Market Share Analysis, 2020
   15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      15.3.1 Algernon Pharmaceuticals
      15.3.2 Biovista
      15.3.3 Celentyx Ltd
      15.3.4 ChemBio Discovery, Inc.
      15.3.5 Chord Therapeutics SA
      15.3.6 Excelra
      15.3.7 Fios Genomics
      15.3.8 Lantern Pharma, Inc.
      15.3.9 Novartis AG
      15.3.10 Paradigm Biopharmaceuticals Ltd 
      15.3.11 Predictive Oncology
      15.3.12 Segue Therapeutics, LLC
      15.3.13 Sosei Group Corporation
      15.3.14 Teva Pharmaceutical Industries Ltd

Key Segments Covered

By Types

  • Disease-centric approach
  • Target-centric approach
  • Drug-centric approach

By Therapeutic Area

  • Same Therapeutic Area
  • Different Therapeutic Area

By Drug Molecule

  • Biologics
  • Small Molecule

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Market Players Profiled in the Report

  • Algernon Pharmaceuticals
  • Biovista
  • Celentyx Ltd
  • ChemBio Discovery, Inc.
  • Chord Therapeutics SA
  • Excelra
  • Fios Genomics
  • Lantern Pharma, Inc.
  • Novartis AG
  • Paradigm Biopharmaceuticals Ltd
  • Predictive Oncology
  • Segue Therapeutics, LLC
  • Sosei Group Corporation
  • Teva Pharmaceutical Industries Ltd
  • Key players in the global Drug Repurposing market are Algernon Pharmaceuticals, Biovista, Celentyx Ltd, ChemBio Discovery, Inc., Chord Therapeutics SA, Excelra, Fios Genomics, Lantern Pharma, Inc., Novartis AG, Paradigm Biopharmaceuticals Ltd, Predictive Oncology, Segue Therapeutics, LLC, Sosei Group Corporation, Teva Pharmaceutical Industries Ltd. These companies are considered as key market players of global Drug Repurposing market, based on their revenue, research & development (R&D) activities in the areas of improving offerings, and regional presence.
  • The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to cater the increasing demand for global Drug Repurposing market.
  • In January, 2019, The Icahn School of Medicine at Mount Sinai entered into a partnership with Paradigm Biopharmaceuticals Ltd. and ReqMed Company, Ltd. of Japan to develop the drug, pentosan polysulfate sodium, for the treatment of mucopolysaccharidosis (MPS).
Drug Repurposing Market by key players

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FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request.

Yes, the report covers pipeline information of companies operating in the market

According to this Growth Market Reports, the market from global Drug Repurposing market is likely to register a CAGR of 5.4% during period 2021-2028, with an anticipated valuation of USD 46,851.5 million by the end of the 2028.

In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such regulatory overview, Macro-economic factors, COVID-19 Impact on the global Drug Repurposing market is available in final report.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

The global Drug Repurposing market is anticipated to grow use of existing medicines in new treatments, less R&D expenditure on drug repurposing, increasing adoption of drug repurposing owing to its advantages.

The demand for global Drug Repurposing is high in Bacterial Infections and Cancer Treatment.

The outbreak of COVID-19 has positively affected the drug repurposing market across the globe.

The base year considered for the global Drug Repurposing market is 2020. The complete analysis period is 2018 to 2028, wherein, 2018 & 2019 are the historic years, and the forecast is provided from 2021 to 2028.

Major manufactures include Novartis AG, Sosei Group Corporation, Teva Pharmaceutical Industries Ltd, Algernon Pharmaceuticals, Chord Therapeutics SA, Segue Therapeutics, LLC.