Drug Repurposing Market Forecasted To Hit US$ 51.8 Billion By 2033 | Biovista, Excelra, Fios Genomics, Novartis AG

Global Drug Repurposing Market size is expected to be worth around USD 51.8 Billion by 2033 from USD 32.1 Billion in 2023, growing at a CAGR of 4.5%

NEW YORK, NY, UNITED STATES, January 27, 2025 /EINPresswire.com/ -- Report Overview

Global Drug Repurposing Market size is expected to be worth around USD 51.8 Billion by 2033 from USD 32.1 Billion in 2023, growing at a CAGR of 4.5% during the forecast period from 2024 to 2033. In 2023, North America led the market, achieving over 46.3% share with a revenue of US$ 14.8 Billion.

The global drug repurposing market is emerging as a transformative approach in the pharmaceutical industry, offering faster, cost-effective solutions for unmet medical needs. Drug repurposing, also known as drug repositioning, involves identifying new therapeutic uses for existing drugs. This method bypasses much of the early-stage development process, reducing time and expenses compared to traditional drug discovery.

The market is driven by the growing prevalence of chronic and rare diseases, increasing demand for affordable therapies, and advancements in computational biology and artificial intelligence (AI). Repurposed drugs are particularly effective in treating rare diseases and addressing global health crises, as evidenced during the COVID-19 pandemic. Governments and organizations worldwide supported drug repurposing to expedite treatment solutions for the virus.

North America dominates the market, backed by robust research and development infrastructure, significant investments, and regulatory support. Europe follows closely, driven by collaborations between academic institutions and pharmaceutical companies. Meanwhile, the Asia-Pacific region is witnessing rapid growth due to increasing healthcare investments, a high disease burden, and a focus on cost-effective drug development.

Despite its advantages, the market faces challenges such as regulatory hurdles, intellectual property issues, and limited incentives for pharmaceutical companies to repurpose off-patent drugs. However, ongoing advancements in AI, big data analytics, and genomics are expected to address these challenges and propel market growth.

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Key Takeaways: Drug Repurposing Market

• Market Size: The Drug Repurposing Market is projected to grow from USD 32.1 billion in 2023 to USD 51.8 billion by 2033.
• Market Growth: The market is expected to expand at a CAGR of 4.5% during the forecast period (2024-2033).
• Approach: The disease-centric approach accounted for 42.6% market share in 2023, reflecting its significance in drug repurposing strategies.
• Therapeutic Area: Drugs used within the same therapeutic area dominated with a 67.3% market share, and this trend is expected to grow further.
• Drug Molecules: Biologics held a significant share, accounting for 61.5%, indicating a strong focus on complex therapies.
• Regional Analysis: North America led the market with a 46.3% share, generating USD 14.8 billion in revenue in 2023, driven by robust R&D and healthcare investments.
• Strategic Approaches: Key players are focusing on product development, geographic expansion, mergers, and acquisitions to address the rising demand for repurposed drugs.
• Pandemic Influence: The market remains resilient, supported by increased use of repurposed drugs and supplements recommended by healthcare providers during global health crises, including the pandemic.

Market Segments:

Type Of Approach

• Disease-centric
• Target-centric
• Drug-centric

Therapeutic Area

• Same Therapeutic Area
• Different Therapeutic Area

Drug Molecules

• Biologics
• Small Molecule

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Market Dynamics

Driver: Rising Prevalence of Rare and Neglected Diseases
The increasing recognition of rare and neglected diseases has propelled the drug repurposing market. Traditional drug development often overlooks these conditions due to limited financial incentives. Repurposing existing drugs offers a cost-effective and expedited pathway to identify treatments for these diseases, addressing unmet medical needs and improving patient outcomes. This approach leverages known safety profiles of existing drugs, reducing development time and costs. For instance, thalidomide, initially marketed for morning sickness, was repurposed for the treatment of multiple myeloma and leprosy.

Trend: Integration of Artificial Intelligence in Drug Repurposing
The adoption of artificial intelligence (AI) and machine learning in drug repurposing is a significant trend. AI algorithms analyze vast datasets to identify potential new uses for existing drugs, accelerating the discovery process. This computational approach enables the prediction of drug-disease interactions and the identification of novel therapeutic indications, thereby enhancing the efficiency and success rate of repurposing efforts. AI has been instrumental in identifying candidates for diseases like COVID-19, showcasing its potential in addressing urgent health challenges.

Restraint: Intellectual Property and Regulatory Challenges
Intellectual property (IP) and regulatory hurdles present significant challenges in the drug repurposing market. Securing IP rights for repurposed drugs can be complex, often deterring investment. Additionally, navigating regulatory pathways requires substantial resources to demonstrate efficacy and safety for new indications, which can be particularly burdensome for smaller entities. These challenges can impede the advancement of repurposing initiatives, limiting the availability of therapies for patients in need.

Opportunity: Addressing Emerging Infectious Diseases
Drug repurposing offers a valuable opportunity to rapidly identify treatments for emerging infectious diseases. The COVID-19 pandemic highlighted the potential of repurposing existing drugs to manage new viral threats. By leveraging known safety profiles, repurposed drugs can be quickly deployed in response to outbreaks, providing timely therapeutic options while novel treatments are under development. This strategy enhances global preparedness and response capabilities for future pandemics.

Competitive Landscape:

The drug repurposing market demonstrates notable geographical diversity, encompassing key regions such as North America, Europe, Latin America, the Middle East & Africa, and Asia Pacific. Among these, North America emerged as the leading market in 2023, accounting for 46.3% of global revenue, equivalent to USD 14.8 billion. This dominance is driven by significant investments in research and development activities aimed at identifying new therapeutic uses for existing drugs.

The Asia Pacific region is expected to exhibit remarkable growth, fueled by increasing healthcare investments, a growing population, and the adoption of cost-effective drug development approaches. This region's anticipated strong Compound Annual Growth Rate (CAGR) underscores its potential as a lucrative market for drug repurposing.

In North America, the market’s growth is supported by an active focus on repurposing initiatives, leveraging advanced technologies and collaborative efforts between academic institutions and pharmaceutical companies. Additionally, the ongoing pandemic has amplified the relevance of drug repurposing globally, as healthcare providers increasingly endorse repurposed drugs and supplements to address emergent health crises. This trend is further cementing the market’s critical role in providing rapid, cost-efficient solutions for unmet medical needs.

Key Market Players:

Algernon Pharmaceuticals
Biovista
Celentyx Ltd
ChemBio Discovery, Inc.
Chord Therapeutics SA
Excelra
Fios Genomics
Lantern Pharma, Inc.
Novartis AG
Paradigm Biopharmaceuticals Ltd
Predictive Oncology
Segue Therapeutics, LLC
Sosei Group Corporation
Teva Pharmaceutical Industries

Regional Analysis

The global drug repurposing market is shaped by the presence of prominent companies, with their competitive status determined by factors such as revenue generation, research and development (R&D) efforts, and regional market presence. Leading players are actively investing in R&D initiatives to enhance their portfolios and identify new therapeutic applications for existing drugs.

To meet the growing demand in this sector, companies are adopting strategic measures such as product innovation, geographical expansion, and mergers and acquisitions. These approaches enable them to strengthen their market position while addressing the dynamic needs of the global healthcare industry. By leveraging these strategies, companies aim to stay competitive in the evolving drug repurposing landscape, delivering innovative and cost-effective solutions to address unmet medical needs.

Emerging Trends in Drug Repurposing

1. Application of Artificial Intelligence (AI) and Machine Learning: AI and machine learning are increasingly utilized to identify new therapeutic uses for existing drugs. These technologies analyze vast datasets to predict drug-disease interactions, accelerating the discovery process. For example, during the COVID-19 pandemic, AI was employed to screen existing medications for potential efficacy against the virus, expediting the identification of promising treatment candidates.

2. Focus on Rare Diseases: Drug repurposing is gaining attention as a strategy to address rare diseases, which often lack effective treatments. By exploring existing drugs for new indications, researchers aim to provide therapies more efficiently. Several global initiatives support this approach, recognizing its potential to meet unmet medical needs in rare disease populations.

3. Integration of Real-World Data: The use of real-world data (RWD) is emerging as a valuable tool in drug repurposing. RWD encompasses information from electronic health records, insurance claims, and patient registries, offering insights into drug efficacy and safety across diverse populations. Leveraging RWD can uncover new therapeutic uses for existing drugs, thereby accelerating the repurposing process.

Use Cases of Drug Repurposing

1. Antibiotics and Antivirals for Dementia Prevention: Recent studies suggest that certain antibiotics, antivirals, and vaccines may reduce the risk of developing dementia. Researchers analyzed data from over 130 million individuals and found associations between these medications and decreased dementia incidence. This finding supports the hypothesis that infections could trigger dementia, indicating that repurposing these drugs might offer preventive benefits.

2. Sildenafil (Viagra) for Pulmonary Hypertension: Sildenafil, commonly known for treating erectile dysfunction, was originally developed for angina. It was later repurposed for pulmonary hypertension after its efficacy in dilating blood vessels was recognized. This repurposing has provided a valuable treatment option for patients with this serious cardiovascular condition.

3. Remdesivir for COVID-19 Treatment: Remdesivir, an antiviral drug initially developed for hepatitis C and later tested against Ebola, was repurposed during the COVID-19 pandemic. Clinical trials demonstrated its efficacy in reducing recovery time for hospitalized COVID-19 patients, leading to its emergency use authorization. This case exemplifies rapid drug repurposing in response to emerging infectious diseases.

Lawrence John
Prudour
+91 91308 55334
Lawrence@prudour.com