Us Drug Repurposing Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Drug Repurposing Market was valued at USD 23.5 Billion in 2022 and is projected to reach USD 47.8 Billion by 2030, growing at a CAGR of 9.4% from 2024 to 2030.
The US Drug Repurposing Market has experienced a surge in recent years, as pharmaceutical companies and research institutions explore the potential of existing drugs for new therapeutic indications. Drug repurposing, or repositioning, refers to the strategy of finding new uses for approved or investigational drugs outside of their original medical indications. With rising healthcare costs and a growing need for faster development of treatments, repurposing offers a cost-effective and time-efficient alternative to the lengthy and expensive process of developing entirely new drugs.
In the United States, the drug repurposing market is gaining momentum, with key players and research institutions focusing on discovering new therapeutic applications for already available medications. This approach has shown considerable promise in the treatment of rare diseases, cancers, and even neurological disorders. By utilizing existing compounds, researchers can bypass many of the hurdles that come with developing novel drugs, including safety and toxicity testing, which can significantly reduce the time it takes to bring a drug to market.
One of the major driving forces behind this trend is the need for more affordable treatment options, particularly in the face of rising drug prices. Repurposed drugs often come at a lower cost since they do not require the same level of investment in research and development as new drugs. Furthermore, the ongoing COVID-19 pandemic has highlighted the importance of finding new uses for existing drugs in the fight against emerging health threats, such as viral infections and infectious diseases.
In the US, several government initiatives and public-private partnerships have emerged to support drug repurposing efforts. The National Institutes of Health (NIH) and the FDA have been instrumental in encouraging collaboration between pharmaceutical companies, academic institutions, and biotechnology firms to explore new applications for existing drugs. This collaborative approach has led to some noteworthy success stories, with drugs like thalidomide and hydroxychloroquine being repurposed for a variety of conditions, including multiple myeloma and lupus.
The market potential for drug repurposing is vast. By utilizing drugs already on the market, pharmaceutical companies can bring new treatments to patients more quickly, addressing unmet medical needs across a wide range of conditions. In addition, with the growing emphasis on personalized medicine, repurposing existing drugs offers the opportunity to tailor treatments to specific patient populations, further enhancing their efficacy and safety.
Looking forward, the US Drug Repurposing Market is poised for continued growth. With advancements in technology and data analytics, it is becoming increasingly easier to identify promising candidates for repurposing, accelerating the process of bringing these drugs to market. As more successful case studies emerge, the industry is likely to see even greater investment, leading to more innovative treatments and improving patient outcomes. With the increasing demand for efficient, cost-effective therapies, drug repurposing is expected to remain a key focus of the pharmaceutical industry for years to come.
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Pfizer
Roche
Novartis AG
Abbott Healthcare
Johnson & Johnson
Sandoz
Mylan Inc.
Teva Pharmaceuticals
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Drug Repurposing Market
Small Molecules
Biologics
Orphan Drugs
Cancer Therapeutics
Neurological Disorders
Infectious Diseases
Cardiovascular Diseases
Metabolic Disorders
Receptor Modulators
Enzyme Inhibitors
Signal Transduction Modulators
Cytokine Modulators
Oral
Intravenous
Topical
Inhalation
Intramuscular
Pharmaceutical Companies
Academic Research Institutions
Contract Research Organizations (CROs)
Government Agencies
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Drug Repurposing Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Drug Repurposing Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Drug Repurposing Market, By Type
6. Global Drug Repurposing Market, By Application
7. Global Drug Repurposing Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Drug Repurposing Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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