Drug Repurposing Market - A Global and Regional Analysis: Focus on Region, Country-Level Analysis, and Competitive Landscape
The "Drug Repurposing Market" prioritizes cost control and efficiency enhancement. Additionally, the reports cover both the demand and supply sides of the market. The Drug Repurposing market is anticipated to grow at an annual rate of 18.00% from 2024 to 2031.
This entire report is of 121 pages.
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Drug Repurposing Market Analysis
Drug repurposing is the process of identifying and developing new therapeutic uses for existing drugs. The global drug repurposing market is driven by factors such as increasing research activities, rising prevalence of chronic diseases, and the need for cost-effective solutions in drug development. Major players in the market include Pfizer, Roche, Novartis AG, Abbott Healthcare, Johnson & Johnson, Sandoz, Mylan Inc., and Teva Pharmaceuticals. These companies are focusing on collaborations, partnerships, and acquisitions to expand their product portfolios and gain a competitive edge. The market research report provides insights on market trends, growth opportunities, and strategic recommendations for key players in the drug repurposing market.
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The drug repurposing market is experiencing significant growth across different segments such as Intravenous, Oral, Cardiovascular Disorders, Central Nervous Disorders, Oncology, and Others. This trend is driven by the potential to discover new therapeutic uses for existing drugs, which can significantly reduce the time and cost of drug development. However, the market is also subject to stringent regulatory and legal factors specific to market conditions.
Regulatory bodies such as the FDA closely monitor the drug repurposing process to ensure the safety and efficacy of repurposed drugs. Legal factors such as patent protection and intellectual property rights also play a crucial role in shaping the drug repurposing market. Companies must navigate these regulatory and legal hurdles to effectively bring repurposed drugs to market. Overall, the drug repurposing market presents a promising opportunity for innovation in drug discovery and development, but companies must be mindful of the regulatory and legal landscape to successfully capitalize on this trend.
Top Featured Companies Dominating the Global Drug Repurposing Market
The drug repurposing market is highly competitive and involves various pharmaceutical companies striving to identify new therapeutic uses for existing drugs. Some of the key players in this market include Pfizer, Roche, Novartis AG, Abbott Healthcare, Johnson & Johnson, Sandoz, Mylan Inc., and Teva Pharmaceuticals.
These companies utilize drug repurposing by leveraging their vast libraries of existing compounds, extensive research and development capabilities, and strategic partnerships to identify and develop new indications for existing drugs. By repurposing drugs, these companies can reduce the time and costs associated with bringing a new drug to market, as well as capitalize on the known safety profiles of existing drugs.
Pfizer, for example, has successfully repurposed drugs such as Viagra for pulmonary arterial hypertension and Lyrica for fibromyalgia. Roche has repurposed drugs including Rituxan for rheumatoid arthritis and Avastin for colorectal cancer. Novartis AG has repurposed drugs such as Gleevec for gastrointestinal stromal tumors and Tasigna for chronic myeloid leukemia.
Abbott Healthcare, Johnson & Johnson, Sandoz, Mylan Inc., and Teva Pharmaceuticals also actively engage in drug repurposing to expand their product portfolios and drive growth in the market.
In terms of sales revenue, Pfizer reported total revenue of $ billion in 2020, Roche reported sales of CHF 58.32 billion, Novartis AG had sales of $48.7 billion, Abbott Healthcare reported revenue of $34.57 billion, Johnson & Johnson reported sales of $82.6 billion, Sandoz had sales of $10.63 billion, Mylan Inc. reported revenue of $11.54 billion, and Teva Pharmaceuticals had sales of $16.63 billion in 2020. These numbers indicate the significant market presence and financial strength of these companies in the drug repurposing market.
Pfizer
Roche
Novartis AG
Abbott Healthcare
Johnson & Johnson
Sandoz
Mylan Inc.
Teva Pharmaceuticals
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Drug Repurposing Segment Analysis
Drug Repurposing Market, by Application:
Cardiovascular Disorders
Central Nervous Disorders
Oncology
Others
Drug repurposing involves finding new therapeutic uses for existing drugs. In the application of cardiovascular disorders, drugs originally meant for treating other conditions are used to manage heart diseases. In central nervous disorders, repurposed drugs target neurological conditions such as Alzheimer's disease and Parkinson's. In oncology, existing drugs are repurposed to treat various types of cancer. Other applications include infectious diseases, respiratory disorders, and autoimmune conditions. The fastest growing application segment in terms of revenue is oncology, as repurposed drugs offer new treatment options for cancer patients, leading to increased demand and sales in the pharmaceutical market.
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Drug Repurposing Market, by Type:
Intravenous
Oral
Drug repurposing can be categorized into two main types: Intravenous and oral. Intravenous drug repurposing involves administering drugs through injection directly into the bloodstream, while oral drug repurposing involves taking drugs in the form of tablets or capsules. These types of drug repurposing help in boosting the demand of the market by offering alternative delivery methods for existing drugs, providing faster and more efficient treatment options, and reducing the time and cost of drug development. Additionally, these types allow for the utilization of known safety profiles and pharmacokinetics of existing drugs, making them a more attractive option for pharmaceutical companies.
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Regional Analysis:
North America:
United States
Canada
Europe:
Germany
France
U.K.
Italy
Russia
Asia-Pacific:
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America:
Mexico
Brazil
Argentina Korea
Colombia
Middle East & Africa:
Turkey
Saudi
Arabia
UAE
Korea
The drug repurposing market is seeing significant growth in regions such as North America (United States, Canada), Europe (Germany, France, ., Italy, Russia), Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia), Latin America (Mexico, Brazil, Argentina, Colombia), and Middle East & Africa (Turkey, Saudi Arabia, UAE). North America is expected to dominate the market with a market share of around 40%, followed by Europe with a market share of approximately 30%. Asia-Pacific is also expected to witness substantial growth, with a market share of around 20%. Latin America and Middle East & Africa are expected to have smaller market shares, with approximately 5-10% each.
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