Drug Repositioning Market Size, Share, Growth, and Industry Analysis, By Type(Generic Drugs and Clinical Trial Failed Drugs), By Application (Cardiovascular Diseases, Mental Illness, Cancer, and Others), Regional Insights and Forecast To 2032

Drug Repositioning Market Report Overview

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global drug repositioning market size was USD 25700 million in 2021 and market is projected to touch USD 43422.24 million by 2032 at CAGR 4.9% during the forecast period.

Drug repositioning, also known as drug repurposing, is the process of discovering new medical applications for existing drugs that have already been approved for a different purpose. This approach offers significant advantages, including reduced development time and costs, as well as a higher level of safety assurance due to the existing knowledge of these drugs' pharmacology. Methods for drug repositioning include data mining, biological and computational analyses, and serendipitous discoveries. Despite its potential benefits, regulatory approval for the new use is still required, and there can be challenges related to financial incentives for pharmaceutical companies.

In the field of drug repositioning, researchers aim to leverage the vast reservoir of existing medications to find novel solutions for various medical conditions. By doing so, they can potentially bring new therapies to market more efficiently and cost-effectively, ultimately enhancing patient care and expanding the utility of existing drugs beyond their original intended purposes.

COVID-19 IMPACT : Rapid Drug Development to Boost Demand Significantly

The COVID-19 pandemic has been unprecedented and staggering, with drug repositioning experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s demand returning to pre-pandemic levels.

COVID-19 had a life changing impact globally. The drug repositioning market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for drug repositioning experienced an increased demand.

The pandemic highlighted the importance of data sharing and collaboration in drug repositioning efforts. Researchers and pharmaceutical companies worldwide shared data and findings more openly and collaborated on clinical trials. This cooperation accelerated the identification of potential treatments and the repurposing of existing drugs. The pandemic spurred the adoption of adaptive clinical trial designs, allowing researchers to quickly modify and optimize ongoing trials based on emerging data. This flexibility was critical for testing and repurposing drugs in real-time as new information about COVID-19 became available.

In the face of the urgent need for effective treatments and vaccines for COVID-19, drug repositioning became a crucial strategy. Existing drugs were quickly tested to identify potential candidates for repurposing against the novel coronavirus. This led to the rapid development and deployment of drugs like remdesivir and the use of existing drugs like dexamethasone to treat COVID-19. Beyond treating the primary viral infection, drug repositioning efforts also targeted complications associated with COVID-19, such as cytokine storms and thrombosis. Existing drugs like tocilizumab and anticoagulants were explored for these purposes. The market is anticipated to boost the drug repositioning market growth following the pandemic.

LATEST TRENDS

"Drug Combination Therapies to Broaden Market Prospects"

Combinations of existing drugs were being explored as a strategy for drug repositioning. Researchers were investigating how combining drugs with different mechanisms of action could lead to improved treatment outcomes for various diseases. The COVID-19 pandemic highlighted the importance of drug repositioning. Researchers were actively exploring existing drugs for their potential to treat COVID-19 and its complications, and this research is likely to have continued and expanded.

The sharing of data and collaboration between researchers, pharmaceutical companies, and academic institutions was becoming more common in drug repositioning efforts. This trend likely continued to accelerate. Drug repositioning was gaining attention in the context of rare and neglected diseases, where the development of new drugs can be economically challenging. Existing drugs were being examined for their potential to treat these conditions.

Drug Repositioning Market Segmentation

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• By Type

Based on type, the market is divided into generic drugs and clinical trial failed drugs.

Generic Drugs holds a major segment by type of the market.

• By Application

Based on application, the market is bifurcated into cardiovascular diseases, mental illness, cancer, and others.

Cardiovascular Diseases as application holds a major segment by application of the market.

DRIVING FACTORS

"Known Pharmacology to Boost Market Demand"

The pharmacological properties of existing drugs are well understood. This knowledge can be leveraged to predict potential uses in other diseases or conditions, making the drug repositioning process more predictable. Repurposed drugs often have well-established safety profiles since they have been used in humans for their original indications. This can streamline regulatory approvals and reduce the risks associated with new drug development. Developing a new drug from scratch is a costly and time-consuming process, often taking over a decade and requiring billions of dollars. Drug repositioning is generally faster and more cost-effective because existing drugs have already undergone various stages of development, including safety and toxicology testing.

"Drug Repositioning Success Stories to Boost Market Flux"

There have been numerous success stories in drug repositioning, where existing drugs have been successfully repurposed to treat entirely different conditions. These successes encourage further exploration of this strategy. Drug repositioning allows for the exploration of combinations of existing drugs with different mechanisms of action. This can lead to synergistic effects and more effective treatments for complex diseases. Drug repositioning has been particularly valuable in the context of rare diseases. Repurposed drugs may qualify for orphan drug designation, providing incentives for their development. These factors are anticipated to drive the drug repositioning market share.

RESTRAINING FACTOR

"Limited Financial Incentives to Hamper Market Necessity"

Developing and marketing a repurposed drug may not be as financially rewarding as developing a new blockbuster drug. Pharmaceutical companies may be less inclined to invest in repositioning efforts if the potential market for the repurposed drug is smaller or less profitable. Repurposing existing drugs can be complex due to patent and intellectual property issues. The original drug's manufacturer may still hold exclusive rights to the drug, limiting the ability of other companies to market it for new indications.

Drug Repositioning Market Regional Insights

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"North America to Dominate the Market Owing to Substantial Food Processing Industry"

North America is the major shareholder for the drug repositioning market. The region is a major player in the pharmaceutical industry. The region hosts many of the world's largest pharmaceutical companies, conducts a significant portion of drug research and development, and has a large share of the global pharmaceutical market. This is due to a combination of factors, including robust healthcare infrastructure, substantial research and development investments, a large patient population, and a favorable regulatory environment.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

LIST OF TOP DRUG REPOSITIONING COMPANIES

• Teva Pharmaceutical Industries Ltd [Israel]
• Novartis AG [Switzerland]
• Mylan N.V. [U.S.]
• Johnson & Johnson [U.S.]
• Pfizer Inc [U.S.]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.