Drug Repurposing Market

Drug Repurposing Market by Type of Repurposing Approach, Therapeutic Area, Type of Drug Molecule and Key Geographical Regions (North America, Europe and Asia-Pacific): Industry Trends and Global Forecasts, 2020-2030

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Drug Repurposing Market Overview

The drug repurposing market is estimated to be worth $313 million in 2020 and is expected to grow at CAGR of 14.7% during the forecast period. A prominent concern reported by innovators is attrition (close to 90%) of candidate drugs / therapies owing to various reasons, in addition to therapeutic efficacy and safety. Moreover, it is estimated that a new drug takes anywhere between 10-12 years to progress from the bench to market. 

Given the increasing global population and rising incidence of various types of diseases, medical researchers and drug developers are faced with a growing need to expedite time-to-market for their respective therapeutic candidates, while optimizing the R&D expenditure. Of late, the repurposing of marketed / shelved / pipeline candidates for the treatment of diseases different from what they were originally developed for, has emerged as a viable business strategy. The rising popularity of this approach may be attributed to benefits, such as reduced development timelines and relatively higher success rates (considering that the safety profiles of repurposed drugs have already been established). In fact, of 28 drugs (including both novel and repurposed) approved by the USFDA in the first quarter of 2020, 12 were repurposed drugs. Further, it is estimated that around 25%-40% of annual pharmaceutical revenues are generated from the sales of repurposed drugs.  It is also worth highlighting that drug repurposing offers significant cost saving opportunities to innovators, while guaranteeing substantial returns on investment. In fact, the cost of developing and marketing a repurposed drug has been estimated to be USD 300 million, compared to the USD 2-3 billion investment required to bring a novel drug into the market. In this context, it is worth mentioning that several drugs (150+) that are presently being used / evaluated to treat COVID-19 are repurposed; prominent examples  include chloroquine / hydroxychloroquine (anti-malarial drug) and remdesivir (initially developed to treat hepatitis C). 

A number of service providers, including contract research organizations (CROs), claim to provide the necessary support to drug developers in identifying / predicting prospective clinical trials for repurposing. Such companies offer a variety of services, encompassing both drug discovery operations and consultancy requirements. In fact, many such players claim to have developed proprietary platforms based on advanced technologies, such as big data analysis, artificial intelligence (AI) and real world evidence, in order to facilitate drug repurposing related decision-making. This upcoming industry has witnessed significant partnership activity in the last ten years, with service providers having established strategic collaborations with innovator companies, as well as information technology (IT) and data management experts. In future, experts believe that outsourcing activity related to drug repurposing is anticipated to grow at a rate of 20-25%. The drug repurposing market likely to witness substantial market growth during the forecast period.

There are more than 65 players offer Drug Repurposing services to the healthcare industry as per Roots Analysis There is the list of Drug Repurposing service providers A detailed assessment of the current market landscape of companies offering drug repurposing services based on several relevant parameters, including year of establishment, company size, location of headquarters, type of company, type of service offered (drug discovery, consulting and others), purpose of repurposing, type of repurposing and technology platform used.

Key Service Providers in Drug Repurposing Market 

Examples of key companies engaged in drug repurposing market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Auxiliis Pharma, ChemBio Discovery Solutions, GVK BIO, Iris Pharma, Physiogenex, Excelra, Smart Pharma, Lantern Pharma, Panxome, Pharmacelera, Socium and SOM Biotech. This market report includes an easily searchable excel database of all the companies providing drug repurposing services, worldwide.

Scope of the Drug Repurposing Market Report

The ‘‘Drug Repurposing Market, 2020-2030’’ market report features an extensive study of the current market landscape, market size, market share, market growth, market forecast, market outlook and future opportunities of the drug repurposing market. The market research report also includes an in-depth analysis, highlighting the capabilities of various service providers engaged in drug repurposing market. Amongst other elements, the market report includes:

  • A detailed assessment of the current market landscape of companies offering drug repurposing services based on several relevant parameters, including year of establishment, company size, location of headquarters, type of company, type of service offered (drug discovery, consulting and others), purpose of repurposing, type of repurposing and technology platform used.
  • A detailed analysis of the various partnerships that have been signed within drug repurposing market, during the period 2013-2020, along with information on year of partnership, type of partnership, and partner company, type of technology / platform used, and key value drivers (such as target therapeutic area and type of drug molecule) and location of collaborators. 
  • A review of recent initiatives undertaken by big pharma players across the globe for the discovery and development of repurposed drugs, along with information on number of initiatives, year of initiative. It also features a benchmark analysis of top 11 big pharma players (in terms of annual revenues of 2019), comparing them across various relevant parameters, such as name of repurposed drug, drug class, target therapeutic area, phase of development and target patient population. 
  • A detailed analysis of terminated / withdrawn / suspended drug candidates that can be repurposed, based on several relevant parameters, such as current recruitment status, trial phase, cause of discontinuation of trial, type of sponsor, target therapeutic area(s).
  • A detailed analysis on the cost saving potential of drug repurposing approaches, as compared to the traditional de novo drug development methods.
  • Elaborate profiles of key players that specialize in offering services for the development of repurposed drugs. Each profile features an overview of the company (including information on its year of establishment, company size and location of headquarters), details on type of technology platform used, drug discovery and repurposing focused service portfolio, and an informed future outlook.
  • Detailed profiles of key organizations; each profile features an overview of the company (including information on year of establishment, location of headquarters, network affiliates and type of service offered), and recent developments related to drug repurposing. It provides brief discussion on the various research institutions and non-profit organizations that are presently engaged in the drug repurposing market.
  • An elaborate discussion on the future opportunities / trends within the drug repurposing service provider outsourcing market that are likely to influence the growth of drug repurposing market over the coming years.

The key objective of drug repurposing market report is to provide a detailed market analysis in order to estimate the existing market size, market trends, market value, statistics and future opportunity for drug repurposing industry during the forecast period. Based on various important parameters, such as projected rise in the overall pharmaceutical R&D expenditure, drug discovery costs, and outsourcing profile, we have provided an informed estimate of the likely evolution of the market in the short to mid-term and long term, for the forecast period 2020-2030. The market report also provides details on the likely distribution of the current and forecasted opportunity across [A] type of repurposing approach (disease centric, target-centric and drug-centric), [B] therapeutic area (same therapeutic area and different therapeutic area), [C] type of drug molecule (biologic and small molecule), and [D] key geographical regions (North America, Europe and Asia-Pacific). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth. In addition, the market report discusses the impact of the recent COVID-19 pandemic on the global drug repurposing market, along with providing details related to the future market opportunity for players engaged in drug repurposing market.

A detailed analysis of the various partnerships that have been signed within this domain, during the period 2013-2020, along with information on year of partnership, type of partnership, and partner company, type of technology / platform used, and key value drivers (such as target therapeutic area and type of drug molecule) and location of collaborators. A detailed analysis of terminated / withdrawn / suspended drug candidates that can be repurposed, based on several relevant parameters, such as current recruitment status, trial phase, cause of discontinuation of trial, type of sponsor, target therapeutic area(s). There are three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

The opinions and insights presented in the market report were influenced by discussions held with senior stakeholders in the industry. All actual figures have been sourced and analyzed from publicly available information forums and inputs from primary research. Financial figures mentioned in this market research report are in USD, unless otherwise specified.

Frequently Asked Questions

Question 1: What is drug repurposing?

Answer: Drug repurposing involves a process of identifying new therapeutic areas for existing drugs.

Question 2: How big is the drug repurposing market?

Answer: The drug repurposing market size is estimated to be worth $313 million in 2020.

Question 3: What is the projected market growth of the drug repurposing market?

Answer: The drug repurposing market is expected to grow at compounded annual growth rate (CAGR) of 14.7% during the forecast period 2020 – 2030.

Question 4: Who are the leading companies in the drug repurposing market?

Answer: Examples of key service providers engaged in drug repurposing market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Auxiliis Pharma, ChemBio Discovery Solutions, GVK BIO, Iris Pharma, Physiogenex, Excelra, Smart Pharma, Lantern Pharma, Panxome, Pharmacelera, Socium and SOM Biotech.

Question 5: How much annual revenue is generated by repurposed drugs?

Answer: It is estimated that around 25%-40% of annual pharmaceutical revenues are generated from the sales of repurposed drugs.

Question 6: How many drugs have been repurposed and approved by the USFDA?

Answer: In the first quarter of 2020 the USFDA approved the repurposing of 28 drugs.

Question 7: How many companies are currently engaged in the drug repurposing market?

Answer: Over 65 companies are currently engaged in the drug repurposing market.

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