According to this study, the global Drug Repurposing market size will reach US$ 32050 million by 2031.

Drug repurposing or re-profiling has been the hallmark to bring strong business growth and the trend is being followed by majority of the pharmaceutical and biopharmaceutical companies. Among all biologics approved in the U.S. during 2007-2009, 30-40% of them were the drugs repurposed or repositioned. National Institute of Health (NIH), U.S. Department of Health defines drug repurposing as discovering new uses for approved drugs to provide the quickest possible transition from bench to bedside. Drug repurposing opens up various opportunities to answer current unmet medical needs to come up with cost-effective solutions to expensive drug development process. Repurposing or re-profiling of drugs which are suspended due to lack of efficacy or specificity can be a good start over for further development for new indication. Finding new indications for already studied drugs can benefit patients by getting quick access to new treatment choices and also to developer by saving time and money while maintaining its original IP protection. For many expensive indications such as cancer, scrutinizing for anti-cancer activity among dozens of off-patent drugs that have already established their safety is a powerful method opted by majority of the big pharma companies. However, repurposing is not a new strategy and there are bunch of drugs which are repositioned or repurposed, some of them are Raloxifene (approved for treatment of osteoporosis in 2007, originally indicated for breast cancer treatment), Thalidomide (repositioned for use in treatment of leprosy and multiple myeloma in 2006), Rapamycin (repurposed in 1999 for prevention of organ transplant rejection), Sildenafil (originally approved for erectile dysfunction and recently got approved for treatment of angina) and many others.

The global pharmaceutical market is 1475 billion USD in 2022, growing at a CAGR of 5% during the next six years. The pharmaceutical market includes chemical drugs and biological drugs. For biologics is expected to 381 billion USD in 2022. In comparison, the chemical drug market is estimated to increase from 1005 billion in 2018 to 1094 billion U.S. dollars in 2022. The pharmaceutical market factors such as increasing demand for healthcare, technological advancements, and the rising prevalence of chronic diseases, increase in funding from private & government organizations for development of pharmaceutical manufacturing segments and rise in R&D activities for drugs. However, the industry also faces challenges such as stringent regulations, high costs of research and development, and patent expirations. Companies need to continuously innovate and adapt to these challenges to stay competitive in the market and ensure their products reach patients in need. Additionally, the COVID-19 pandemic has highlighted the importance of vaccine development and supply chain management, further emphasizing the need for pharmaceutical companies to be agile and responsive to emerging public health needs.

LPI (LP Information) newest research report, the Drug Repurposing Industry Forecast looks at past sales and reviews total world Drug Repurposing sales in 2024, providing a comprehensive analysis by region and market sector of projected Drug Repurposing sales for 2025 through 2031. With Drug Repurposing sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Drug Repurposing industry.

This Insight Report provides a comprehensive analysis of the global Drug Repurposing landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Drug Repurposing portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms unique position in an accelerating global Drug Repurposing market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Drug Repurposing and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Drug Repurposing.

This report presents a comprehensive overview, market shares, and growth opportunities of Drug Repurposing market by product type, application, key players and key regions and countries.

Segmentation by Type:

    Oncology
    CNS Diseases
    Neurodegenerative Diseases
    Others

Segmentation by Application:

    Hospitals
    Ambulatory Surgical Centers
    Others

This report also splits the market by region:

    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the companys coverage, product portfolio, its market penetration.

    Astellas Pharma
    Biovista
    Novartis
    AbbVie
    Pfizer
    Allergan
    NuMedii