Drug Repurposing Market

Drug shortages and unmet medical fuel market growth 

The unmet medical requirements and drug shortages are likely to drive market CAGR for the Drug Repurposing Market over the forecast period. It is particularly advantageous to treat uncommon diseases and neglected tropical diseases (NTDs) with repurposed drugs. Since many diseases receive limited research and development funding, it is challenging to create new treatments for them. Medication repurposing is a practical approach to provide these patient populations with therapy choices. Periodically, production issues, product withdrawals, or disruptions in the supply chain may lead to shortages of a particular medication.

Because the market is growing at an encouraging rate, it is possible to provide continuous access to life-saving pharmaceuticals and eliminate drug shortages by repurposing other currently accessible medications for equivalent indications.

Moreover, the pharmacological features of current medications are well understood. This knowledge can be used to forecast prospective applications in diseases or conditions, making the drug repositioning process more predictable. Repurposed medications frequently have well-established safety benefits since they have been used in people for their original indications. This can help to streamline regulatory approvals and lessen the risks associated with new drug development. Developing a new medication from scratch is a costly and time-consuming procedure that can take over a decade and cost billions of dollars.

Druz repositioning is often faster and less costly because existing medications have already undergone several stages of research, including safety and toxicology testing.

This increases the method's acceptance rate and drives the market even higher. Thus driving the Drug Repurposing Market revenue.

The Global Drug Repurposing Market Industry is projected to experience substantial growth over the coming years. With a market size of 0.4 USD Billion in 2024, the industry is expected to expand significantly, potentially reaching 1.52 USD Billion by 2035. This growth trajectory is indicative of the increasing recognition of drug repurposing as a viable strategy for addressing unmet medical needs. The compound annual growth rate of 12.91% from 2025 to 2035 underscores the industry's potential, driven by factors such as technological advancements, rising chronic disease prevalence, and supportive regulatory frameworks. These projections highlight the dynamic nature of the market and its capacity to adapt to evolving healthcare demands.

Technological advancements play a pivotal role in the Global Drug Repurposing Market Industry. Innovations in data analytics, artificial intelligence, and machine learning facilitate the identification of new therapeutic uses for existing drugs. These technologies enable researchers to analyze vast datasets, uncovering potential drug-disease relationships that may have previously gone unnoticed. As a result, the efficiency of drug repurposing initiatives is enhanced, leading to faster and more effective outcomes. The integration of these technologies is expected to propel the market forward, contributing to a compound annual growth rate of 12.91% from 2025 to 2035, as organizations increasingly leverage technology to optimize drug development processes.

Regulatory bodies are increasingly recognizing the potential of drug repurposing, which positively impacts the Global Drug Repurposing Market Industry. Initiatives aimed at expediting the approval process for repurposed drugs are being implemented, thereby encouraging pharmaceutical companies to explore this avenue. Regulatory frameworks that facilitate faster pathways for repurposed drugs not only enhance market accessibility but also promote innovation in drug development. This supportive environment is likely to stimulate investment in repurposing initiatives, contributing to the market's anticipated growth trajectory. As a result, the industry is expected to witness a compound annual growth rate of 12.91% from 2025 to 2035.

The Global Drug Repurposing Market Industry is significantly influenced by the rising prevalence of chronic diseases worldwide. Conditions such as diabetes, cardiovascular diseases, and cancer are on the rise, necessitating innovative treatment approaches. Drug repurposing offers a strategic avenue to address these health challenges by providing existing medications that may be effective for new indications. This approach not only accelerates the availability of treatments but also enhances patient outcomes. As the global population ages and the burden of chronic diseases escalates, the market is poised for substantial growth, with projections indicating a market size of 1.52 USD Billion by 2035.

The Global Drug Repurposing Market Industry experiences a notable surge in demand for cost-effective therapies. As healthcare costs continue to escalate, stakeholders seek alternatives that maximize therapeutic benefits while minimizing expenses. Drug repurposing offers a viable solution, allowing existing medications to be utilized for new indications, thereby reducing development costs and timeframes. In 2024, the market is projected to reach 0.4 USD Billion, reflecting the growing recognition of repurposed drugs as economically advantageous. This trend is expected to gain momentum, with the market anticipated to expand significantly, potentially reaching 1.52 USD Billion by 2035, driven by the increasing focus on healthcare affordability.

Collaborations and partnerships among academic institutions, pharmaceutical companies, and research organizations are becoming increasingly prevalent within the Global Drug Repurposing Market Industry. These alliances foster knowledge sharing and resource pooling, which are essential for successful drug repurposing endeavors. By combining expertise and capabilities, stakeholders can expedite the identification and validation of new therapeutic uses for existing drugs. Such collaborative efforts not only enhance the efficiency of research but also increase the likelihood of successful outcomes. As the market continues to evolve, these partnerships are expected to play a crucial role in driving innovation and expanding the scope of drug repurposing.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. In 2023, In North America, the drug repurposing industry is expanding due to increased research and development efforts aimed at repurposing current pharmaceuticals. This boost in activity is helping to increase the region's market share. Furthermore, despite the continuing epidemic, the drug repurposing industry is likely to remain robust. This is partly due to increased support of supplements and repurposed pharmaceuticals by healthcare providers around the world during the epidemic, which solidified the market's relevance.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: DRUG REPURPOSING MARKET SHARE BY REGION 2023 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Drug Repurposing Market accounts for the second-largest market share. This is due to its robust R&D skills, government support for innovation, and clearly defined regulatory framework, Europe is a major player in the drug repurposing industry. Further, the German Drug Repurposing Market held the largest market share, and the UK Drug Repurposing Market was the fastest-growing market in the European region.

The Asia-Pacific Drug Repurposing Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to increased research and analysis of medications and their responses to numerous types of bacteria and viruses. Moreover, China Drug Repurposing Market held the largest market share, and the India Drug Repurposing Market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Drug Repurposing Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Drug Repurposing industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Drug Repurposing industry to benefit clients and increase the market sector. In recent years, the Drug Repurposing industry has offered some of the most significant advantages to medicine. Major players in the Drug Repurposing Market, including Algernon Pharmaceuticals, Biovista, Celentyx Ltd, ChemBio Discovery, Inc., Chord Therapeutics SA, Excelra and others, are attempting to increase market demand by investing in research and development operations.

Novartis AG is a Swiss multinational pharmaceutical firm headquartered in Basel, Switzerland. Consistently placed in the global top five, Novartis is one of the world's major pharmaceutical firms and was the fourth largest by sales in 2022. In October 2023, Novartis will present fresh data from 29 Novartis and investigator-led papers at the European Society for Medical Oncology (ESMO) Congress 2023, highlighting its oncology portfolio and addressing unmet needs of patients afflicted with some of the most common malignancies, such as prostate and breast cancer.

Biovista Inc. is a private drug development services company headquartered in Charlottesville, Virginia, USA. Biovista's primary business activities are drug repositioning and de-risking, as well as disease cohort analysis, adverse event prediction, and clinical hold analysis services. Biovista is also using its technological platform to build its own medication repositioning programmes in the areas of the central nervous system (CNS), diabetes and obesity, ocular illnesses, and oncology. In December 2019, Biovista Inc. formed a drug repositioning agreement with Astellas Pharma Inc.

The primary goal of this partnership was to discover novel indications for drugs utilizing Biovista's Clinical Outcome Search Space (COSS) technology.