Growing at an annualized rate of 14.7%, the drug repurposing service providers market is expected to be worth over a billion dollars by 2030, claims Roots Analysis

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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Key Market Insights 

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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Key Questions Answered

• Who are the leading players offering drug repurposing services?
• What kind of initiatives have been undertaken by big pharma players related to drug repurposing?
• What kind of partnership models are most commonly adopted by stakeholders in this industry?
• What is the role of non-profit organizations and academic players in this domain?
• What are the potential cost benefits of drug repurposing, compared to the traditional drug development process?
• What factors are likely to influence the evolution of this upcoming market?
• How has the recent COVID-19 pandemic likely impacted the demand for drug repurposing?
• How is the current and future market opportunity likely to be distributed across key market segments?

The USD 1.2 billion (by 2030) financial opportunity within the drug repurposing service providers market has been analyzed across the following segments:

• Type of Company
  • CRO
  • Technology Service Provider
  • Big Data / Analytics Service Provider
• Type of Drug Molecules 
  • Small molecule
  • Biologic
• Repurposing Approach Used
  • Target-centric
  • Disease-centric
  • Drug-centric
• Type of Services Offered
  • Drug Discovery
  • Consulting
• Status of Drug
  • Marketed / FDA approved candidate
  • Failed clinical candidate
• Company Size
  • Small 
  • Mid-sized 
  • Large / Very Large 
• Key geographical regions 
  • North America
  • Europe
  • Asia Pacific

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:

• Nandu Gattu (Senior Vice President, Excelra)

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. 

• Auxillis Pharma
• ChemBio Discovery Solutions
• Excelra
• GVK Bio
• Iris Pharma
• Lantern Pharma
• PanXome
• Pharmacelera
• Physiogenex
• Smart Pharma
• Socium
• SOM Biotech

For additional details, please visit 
https://www.rootsanalysis.com/reports/drug-repurposing-service-providers.html

or email sales@rootsanalysis.com

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Contact:
Gaurav Chaudhary
+1 (415) 800 3415
+44 (122) 391 1091
Gaurav.Chaudhary@rootsanalysis.com