Drug repurposing is also known as drug repositioning. It is a process of identifying new therapeutic use(s) for old/existing/available drugs. It is an effective strategy in developing or discovering drug molecules with new therapeutic indications. In recent years, many pharmaceutical companies are developing new drugs with the discovery of novel biological targets by applying the drug repositioning strategy in drug discovery and development programs. This strategy is highly efficient, low-cost, time-saving, and minimum risk of failure. It increases the therapeutic value of a drug and consequently maximizes the success rate. Drug repositioning is thus an important alternative method to the conventional process of drug development.
MARKET DYNAMICS
Factors driving the growth of the drug repurposing market are the growing need for the low investment in terms of time and money is boosting demand for the drug repurposing which is leading to an increase in the number of pipeline products is propelling the growth of the drug repurposing market. Additionally, some of the other factors propelling the growth of the global drug repurposing market are low research cost and easy bioavailability is fueling the market growth. However, lack of funding and limited information is expected to hamper the growth of the market.
MARKET SCOPE
The "Drug Repurposing Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of drug repurposing market with detailed market segmentation by disease indication and end user. The drug repurposing market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in drug repurposing market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The drug repurposing market is segmented on the basis of disease indication and end user. Based on disease indication, the market is segmented as oncology, CNS diseases, neurodegenerative diseases, and others. On the basis of end user, the market is categorized as hospitals, ambulatory surgical centers, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the drug repurposing market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The drug repurposing market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting drug repurposing market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the drug repurposing market in these regions.
MARKET PLAYERS
The report covers key developments in the drug repurposing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from drug repurposing market are anticipated to have lucrative growth opportunities in the future with the rising demand for drug repurposing in the global market. Below mentioned is the list of few companies engaged in the drug repurposing market.
The report also includes the profiles of key players in drug repurposing market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Astellas Pharma Inc.
- Biovista
- Novartis AG
- AbbVie Inc.
- Pfizer Inc.
- Allergan Plc.
- NuMedii
- Abbott Healthcare
- Hoffmann-La Roche
- Johnson & Johnson.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.