Drug Repurposing Market Forecast, Trend Analysis & Competition Tracking - Global Analysis and Industry Insights 2015 to 2031

Drug Repurposing (DR) identifies new medical uses or pharmacological indications for old or existing licensed drugs. Drug repurposing is also known as drug repositioning, rescuing, recycling, re-tasking, reprofiling, drug redirection, and therapeutic switching. It involves establishing new medicinal uses for known drugs, including approved, discontinued, obsolete and experimental drugs. Repurposed drugs are considered cost-effective and time-efficient alternatives when compared to new drugs that are under development. Some of the successful and well-known drugs that have emerged through the DR method are sildenafil, aspirin, minoxidil, methotrexate, valproic acid, and others.

List Of Repositioned Drugs Approved For Breast Cancer Treatment

Global Drug Repurposing Market Revenue Outlook:

The global drug repurposing market was valued at US$ 27,234.4 Mn in 2021 and is projected to register а САGR of 3.8% by 2031.

Nonetheless, various industry players in the global drug repurposing market are now increasing their focus towards the establishment of successful collaborations, acquisitions, and joint venture activities as a means to enhance their respective customer bases. In doing so, these players are also increasing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

Details About Other Diseases Drugs That Are/Were Repurposed For The Oncology Indications

Raloxifene: The FDA approved Raloxifene to minimize the risk of breast cancer in postmenopausal women in 2007. It was initially used to treat osteoporosis.

Thalidomide: The drug was introduced as a sedative in the late 1950s, and the doctors started prescribing it to prevent nausea during pregnancy. In 2006, the drug was approved for multiple myeloma, a disease condition cancer cells accumulate in the bone marrow.

Tamoxifen: In addition to treating and preventing breast cancer, researchers discovered in 2007 that tamoxifen also aid in treating patients with bipolar disorder by blocking the enzyme PKC – which goes into overdrive during the manic phase of the disease/disorder

Pentostatin: The drug was discovered for chemotherapy for T-cell-related leukemias. Later, the National Cancer Institute researchers found that the drug was effective in treating rare leukemia –B-cell related called as Hairy Cell Leukemia

Methotrexate: The chemotherapy drug was developed in the 1950s and has been typically administered at a very high dose to cancer patients. At a low dose, it has become the standard of care for autoimmune diseases such as rheumatoid arthritis or psoriasis

The Increasing Prevalence Of Cancer Is Boosting The Growth Of The Global Drug Repurposing Market

Cancer is a major health disorder whose prominence is expected to increase in the coming years and is a leading cause of death worldwide. The limitations of immunotherapy and the emergence of drug resistance are elements that have compromised the prognosis of cancer patients, resulting in the search for effective, alternative treatments. In addition, traditionally, it takes approximately 12 to 15 years to discover a new drug, and this process requires a considerable budget. Drug reuse for cancer treatment is considered an alternative treatment strategy for oncological disorders. Moreover, it facilitates the rapid identification of drugs with relatively lesser costs and poses lower risks for patients. These essential factors are expected to prove beneficial for drug development processes, resulting in increased revenue growth prospects for this global market.

• Metformin is an existing licensed drug that was initially used to treat diabetes and is now repurposed as cancer therapeutic.
• According to the WHO, as of November 2020, it is estimated that approx. 10 million individuals globally are affected by varying cancers, of which 2.26 million people are affected by breast cancer, 2.21 million are affected by lung cancer, and 1.09 million individuals are affected by stomach cancer.

COVID–19 Is Expected To Have A Positive Impact On The Growth Of The Market

A surge in the number of cases of COVID–19 as well as an increase in investments for R&D activities by several governments and prominent industry players towards the development of new medications and a new indication of the existing drugs are trends being presently observed. These factors are expected to further amplify profit margins for this global market in the years to come.

Potential Anticancer Drugs For Repurposing In COVID-19

Growth Strategies Adopted By The Company Offering Lucrative Opportunities For Drug Repurposing Players

Strategic policies being adopted by several pharmaceutical companies and academics in the oncology therapeutics industry are expected to further fuel the demand for drug reuse processes. Approaches such as strategic mergers & acquisitions, joint ventures & partnerships with related companies aimed at new product development, expanding an industry player’s global presence, as well as the widening/broadening of their given product portfolios. Such alliances provide additional resources and capital to facilitate research activities and the entry of repurposing drugs into a pipeline, including functional verification research and even final clinical trials. These are certain factors that are expected to increase the financial development of this given market over the forecast period.

• In December 2015, Biovista Inc. entered into a drug repositioning collaboration with Astellas Pharma Inc. The main aim of this collaboration was to identify new indications for compounds using Biovista’s Clinical Outcome Search Space (COSS) technology.

Competitive Landscape

The drug repurposing landscape appears highly consolidated, with a major chunk of it being dominated by the US players.

• Relay Therapeutics
• Exscientia
• SOM BIOTECH
• AI
• Benevolent AI
• Biovista
• Recursion Pharmaceuticals Inc.
• Algernon Pharmaceuticals
• Elix Inc.
• Atomwise Inc.
• Healx
• Genome Biologics
• Other Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Segments Covered

Drug Repurposing Market, By Disease Indication

• Oncology
• CNS Disorders
• Neurodegenerative Diseases
• Other Disease Indications

Drug Repurposing Market, By Distribution Channel

• Contract Research Organizations (CROs) & Contract Manufacturing Organizations (CMOs)
• Clinical Research Institutes/ Organizations
• Pharma and Biotech Industry

[table_custom cagr=5.99% market_size=27,234.4 Mn USD projection=XX.XX USD]