Published: September 2020
Given the success of approved repurposed therapeutics, such as Viagra® and Thalomid®, this approach has become a key lifecycle management strategy; in fact, several drugs being evaluated for the treatment of COVID-19 are repurposed candidates
Roots Analysis has announced the addition of the “Drug Repurposing Service Providers Market, 2020-2030” report to its list of offerings.
Repurposing of marketed / shelved / pipeline candidates for the treatment of diseases (different from original target indications) has emerged as a viable business strategy. The rising popularity of this approach can further be attributed to various benefits, such as reduced development timelines, decreased investments and relatively higher success rates (considering that the safety profiles of such candidates have already been established).
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Over 60 companies presently claim to offer services for the repurposing of therapeutics
This market is currently dominated by the presence of technology providers (over 45%), followed by CROs (29%) and big data companies (25%). It is worth noting that as more than 65% of the service providers have been established recently (post 2010).
Europe is the current outsourcing hub for drug repurposing operations
Within this region, most of the technology and big data providers are based in the UK, while majority of the CROs are headquartered in France. Other popular (in terms of number of indigenous companies focused on drug repurposing) global regions include North America (27%) and Asia-Pacific (26%) regions.
Drugs evaluated in 1,700+ discontinued trials can be considered as potential candidates for repurposing
More than 45% of the aforementioned trials were discontinued due to trial related issues, such as slow accrual / recruitment, trial design and safety / efficacy concerns. Other prominent causes of trial termination include business-related issues (20%).
North America and Europe are anticipated to capture over 80% of the market share by 2030
In the long term, the drug repurposing service providers market in North America and Europe are expected to grow at a relatively faster pace (14.8%). Further, the market in APAC and RoW is expected to witness growth at a CAGR of 14.3% during the forecast period.
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The USD 1.2 billion (by 2030) financial opportunity within the drug repurposing service providers market has been analyzed across the following segments:
The report features inputs from eminent industry stakeholders, according to whom, in the foreseen future, outsourcing of drug repurposing operations is anticipated to rise, presenting a multi-billion dollar opportunity to players engaged in providing services for such approaches. The report includes detailed transcripts of a survey held with the following experts:
The research covers profiles of key players (listed below); each profile features an overview of the company, technology platform specifications, information related to its drug repurposing focused service portfolio and an informed future outlook.
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