What is Drug Repurposing?

Drug repurposing, also known as drug repositioning, involves identifying new therapeutic uses for existing drugs. Instead of developing new drugs from scratch, researchers explore established medications for potential applications in different diseases.

How big is the Drug Repurposing Market?

The global Drug Repurposing Market size was estimated at USD 51.8 Billion in 2023 and is expected to reach USD 32.1 Billion in 2033.

What is the Drug Repurposing Market growth?

The global Drug Repurposing Market is expected to grow at a compound annual growth rate of 4.5%. From 2024 To 2033

Who are the key companies/players in the Drug Repurposing Market?

Some of the key players in the Drug Repurposing Markets are Algernon Pharmaceuticals,Biovista,Celentyx Ltd,ChemBio Discovery, Inc.,Chord Therapeutics SA,Excelra,Fios Genomics,Lantern Pharma, Inc.,Novartis AG,Paradigm Biopharmaceuticals Ltd,Predictive Oncology,Segue Therapeutics, LLC,Sosei Group Corporation,Teva Pharmaceutical Industries

Why is Drug Repurposing Important?

Drug repurposing is crucial for its potential to expedite the drug development process, reduce costs, and address unmet medical needs. It allows for the identification of new uses for existing drugs with known safety profiles, streamlining regulatory approval.

How is the Global Market Geographically Distributed?

The global Drug Repurposing market is fragmented across regions, including North America, Europe, Latin America, and the Middle East & Africa. North America dominated the market in 2023, while the Asia Pacific region is expected to witness substantial growth.

What Drives the North American Market?

The North American market for drug repurposing is primarily driven by increased research and development activities focused on exploring new therapeutic applications for existing drugs.

What Strategies are Key Players Adopting?

Key players in the drug repurposing market are adopting strategic approaches such as product development, geographical expansion, mergers, and acquisitions to meet the growing demand globally.

Drug Repurposing Market Outlook, Assessment

Global Drug Repurposing Market By Type Of Approach (Disease-centric ,Target-centric ,Drug-centric) Therapeutic Area (Same Therapeutic Area,Different Therapeutic Area) By Drug Molecules (Biologics ,Small Molecule) By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

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