What is Global Drug Repositioning Market?
The Global Drug Repositioning Market is a fascinating and complex sector of the pharmaceutical industry. It involves the process of identifying new uses for approved or investigational drugs that are outside the scope of the original medical indication. This strategy is often employed to save time and reduce costs associated with drug development, as the safety and efficacy of these drugs have already been tested. The market is driven by the increasing prevalence of diseases, the high cost of new drug discovery, and the expiration of patents for many blockbuster drugs. The goal is to maximize the potential of a drug by finding multiple indications for its use, thereby increasing its market value and providing more treatment options for patients.
Generic Drugs, Clinical Trial Failed Drugs in the Global Drug Repositioning Market:
The Global Drug Repositioning Market is segmented into Generic Drugs and Clinical Trial Failed Drugs. Generic drugs are those that are identical—or bioequivalent—to a brand name drug in dosage form, safety, strength, route of administration, quality, and performance characteristics. They are typically sold at substantially lower prices than their branded counterparts. On the other hand, Clinical Trial Failed Drugs are those that have not passed the rigorous testing and approval process. These drugs may have shown potential in early-stage trials but failed in later stages due to lack of efficacy or safety concerns. However, they may still hold potential for other indications and are therefore considered in drug repositioning strategies.
Cardiovascular Diseases, Mental Illness, Cancer, Others in the Global Drug Repositioning Market:
The Global Drug Repositioning Market finds its application in various areas such as Cardiovascular Diseases, Mental Illness, Cancer, among others. In the case of Cardiovascular Diseases, drugs initially developed for other indications may prove beneficial. For instance, a drug initially developed for diabetes may also show efficacy in treating heart disease. Similarly, drugs failed in clinical trials for one type of mental illness may show promise for another. In the field of cancer, drug repositioning holds immense potential. A drug developed for one type of cancer may prove effective for another, or a drug developed for a completely different indication may show anticancer properties.
Global Drug Repositioning Market Outlook:
Looking at the market outlook, the Global Drug Repositioning Market was valued at a significant US$ 26270 million in 2023. It is projected to reach an impressive US$ 36370 million by 2030, growing at a steady Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period from 2024 to 2030. The market is dominated by the top five manufacturers who collectively hold a market share of about 15%. In terms of product segmentation, Generic Drugs form the largest segment, accounting for about 65% of the market share.
| Report Metric | Details |
| Report Name | Drug Repositioning Market |
| Accounted market size in 2023 | US$ 26270 million |
| Forecasted market size in 2030 | US$ 36370 million |
| CAGR | 4.7% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Teva, Novartis, Mylan, Johnson & Johnson, Pfizer, Bausch Health, GSK, ChemRar Group, Glenmark, Fujifilm, Dr. Reddy, R-Pharma |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
