Market Overview:
In recent years, many pharmaceutical corporations are producing new medicines with the development of novel biological targets by applying the drug repositioning strategy in drug discovery and development program. Developing a new drug is costly and time-consuming and drug repurposing comes forth as an excellent alternative, Drug Repurposing act as recycling is the act of taking drug intended to treat one patient population and demonstrating its efficacy in the treatment of a completely different group of patients. This approach is very efficient, time-saving, low-cost and least risk of failure. It maximizes the healing value of medicine and consequently improves the success rate. Drug Repurposing is an effective strategy in discovering or developing drug molecules with new pharmacological/therapeutic indications. Thus, the rise in the demand for drug repurposing is used as an effective alternative approach to the traditional drug discovery process.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Astellas Pharma Inc.(Japan), Biovista(United States), Novartis AG(Switzerland), AbbVie Inc. (United States), Pfizer Inc. (United States), Allergan Plc. (Ireland), NuMedii (United States), Recursion Pharmaceuticals (United States), Leiden University Medical(Netherlands) and Linguamatics (United Kingdom) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Players of Drug Repurposing Market Study:
Astellas Pharma Inc.(Japan), Biovista(United States), Novartis AG(Switzerland), AbbVie Inc. (United States), Pfizer Inc. (United States), Allergan Plc. (Ireland), NuMedii (United States), Recursion Pharmaceuticals (United States), Leiden University Medical(Netherlands) and Linguamatics (United Kingdom)
Drug Repurposing Market Segment Analysis
Scope | Sub-Segments |
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Application / End User | discovering drug targets,, identifying and optimizing lead compounds, and preclinical studies, and phase 1 through phase 4 clinical studies. |
Type | De novo drug discovery, Personalized Medicine, Genomics and Gene Editing |
Methodology | Network-based approaches,Text mining approaches,Semantic approaches |
Development Steps | Compound Identification,Compound Acquisition,Development,FDA Post Market safety monitoring |
Influencing Trend:
The research and funding support and Increasing market demand many pharmaceutical companies are developing new drugs or new therapeutic uses from existing/old/available drugs by drug repositioning approaches in less time, yet at low cost.
Market Growth Drivers:
The rise of repositioning with the increasing pharma involvement as development progresses and The need for the low investment in terms of time and money is fuelling demand for drug repurposing which is leading to the increasing number of pipeline products is propelling the growth of the drug repurposing market.
Challenges:
The challenges of the correct interpretation of existing pre-clinical/clinical evidence as well as the generation of new evidence concerning drug repurposing
Restraints:
Limited information is restraining the growth
Opportunities:
Drug Repurposing has several advantages in comparison with traditional approaches to drug discovery. When comparing with traditional drug discovery program, a significant reduction of the time spent in R&D can be observed and booming the growth opportunities
Some of the other players that are also part of study are FACULDADE DE CIENCIAS (Portugal), Advaita Bioinformatics (United States), Cyclica (United States) and Naama Barkai Lab (Israel). The Global Drug Repurposing market is gaining huge competition due to involvement of United States companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
In June 2020 C-Path launches Cure Drug Repurposing Collaboratory to treat infectious diseases, COVID-19. As millions of patients struggle with diseases that lack adequate treatments, there is a critical need to understand how existing drugs can be used in new ways to improve clinical outcomes. Health care professionals use drugs in novel ways as a potentially life-saving intervention when no specific approved therapies are available.
In December 2015,Biovista announced today that it has entered into a drug repositioning collaboration with Astellas Pharma Inc. The collaboration is focused on identifying new indications for a number of undisclosed Astellas compounds using Biovista's Clinical Outcome Search Space (COSS) technology.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Drug Repurposing market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Drug Repurposing market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Drug Repurposing Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.