Global Drug Repurposing Market By Disease Indication (Oncology, CNS Disorders, Neurodegenerative Diseases, Other), By End User (Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs), Clinical Research Institutes/ Organizations & Pharma and Biotech Industry), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Global Drug Repurposing Market is expected to be driven by increased government investment support and low cost of R&D associated with it

Market.US announces publication of its most recently generated research report titled, “Global Drug Repurposing Market by Disease Indication (Oncology, CNS Disorders, Neurodegenerative Diseases, and Other Disease Indications), By End User (Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs), Clinical Research Institutes/ Organizations & Pharma and Biotech Industry), and by Region – Global Forecast to 2031”, which offers a holistic view of the global drug repurposing market through systematic segmentation that covers every aspect of the target market.

The global drug repurposing market is projected to be US$ 27,343.4 Mn in 2021 to reach US$ 39,139.7 Mn by 2031 at a CAGR of 3.8%.

Drug Repurposing (DR) is the process of identifying new medical uses or pharmacological indications for old or existing licensed drugs. Drug repurposing is also known as drug repositioning, drug rescuing, drug recycling, drug re-tasking, drug reprofiling, drug redirection, and therapeutic switching. It involves establishing new therapeutic 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 most successful and well-known drugs that have emerged through the DR method are sildenafil, minoxidil, aspirin, valproic acid, and methotrexate among others.

In the context of oncology, DR refers to the reuse of non-cancer drugs to treat malignant tumors, rather than opt for new drugs to solve symptoms associated with existing cancer treatments. For cancer indications, the main goal of re-purposing treatment is greater efficacy owing to the need to promptly treat cancer patients.

Drug reuse processes can be seen as a response to the decline in oncology drug development productivity/activity, as a strategy to shorten overall development time, and as a source of low-cost treatments to meet the surge in the unmet needs of cancer patients.

Global Drug Repurposing Market Revenue (US$ Mn), 2021–2031

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 huge budget. Drug reuse for the purposes of 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 are some essential factors that are expected to prove to be beneficial for drug development processes, resulting in increased revenue growth prospects for this global market.

Another factor being the complementary policies and incentive-based schemes by respective governments and philanthropic organizations of both developed and developing nations for the purposes of drug development and repurposing, coupled with increasing investments by these governments to improve and strengthen their respective healthcare and medical sectors, are expected to further propel the financial trajectory of this target industry.

Unfortunately, stringent regulations by several governing bodies in the US, Europe, and other regions/countries pertaining to approvals for several repurposing candidates as cancer therapeutics or for alternate diseases is a major factor that could potentially hamper the financial growth of this global market over the forecast period.

However, the surge in technological advancements such as Deep Learning, Machine Learning (ML), and Artificial Intelligence (AI) for the systematic identification of drug repurposing for polypharmacology, as well as an increase in investments for R&D activities by several governments and prominent industry players towards the development of new medications for cancer treatment are trends being presently observed. These factors are expected to further amplify profit margins for this global market.

Global Drug Repurposing Market Attractiveness Analysis by Disease Indication, 2015–2031

Segmentation of the global drug repurposing market is achieved accordingly – Disease Indication, End-User, and Regions/Countries. On the basis of disease indication, this market is further categorized into oncology, CNS disorders, neurodegenerative diseases, and other disease indications. The oncology segment is expected to account for the majority revenue share, followed by the CNS disorders segment.

In terms of end-user, this market is segmented into – Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs), clinical research institutes/ organizations, as well as the pharma and biotech industry. The CROs sub-segment is expected to generate a majority revenue share, followed by the pharma and biotech industry sub-segment.

The global drug repurposing market is segmented region-wise into – North America, Europe, Asia-Pacific, South America, and the MEA respectively. Among these aforementioned regions, markets in the North America region are expected to index the majority revenue share in this target sector.

The research report on the global drug repurposing market includes profiles of some of the major companies such as Relay Therapeutics, Exscientia, SOM BIOTECH, Gero.AI, Benevolent AI, Biovista, Recursion Pharmaceuticals Inc., Algernon Pharmaceuticals, Elix Inc., Atomwise Inc., Healx, Genome Biologics, and others.

Global Drug Repurposing Market Segmentation Based on Disease Indication, End-User and Region

Based on Disease Indication

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

Based on End-User

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

Based on Key Players

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

Based on Regions

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

For the Global Drug Repurposing Market research study, the following years have been considered to estimate the market size: