Drug Repurposing Service Providers Market, 2020-2030
Friday, September 11, 2020
NEW YORK, Sept. 3, 2020 /PRNewswire/ --
INTRODUCTION Novel drug / therapy development is a complex and capital intensive process characterized by several challenges and setbacks. A prominent concern reported by innovators is attrition (close to 90%) of candidate drugs / therapies owing to various reasons, in addition to therapeutic efficacy and safety. Moreover, it is estimated that a new drug takes anywhere between 10-12 years to progress from the bench to market. Given the increasing global population and rising incidence of various types of diseases, medical researchers and drug developers are faced with a growing need to expedite time-to-market for their respective therapeutic candidates, while optimizing the R&D expenditure. Of late, the repurposing of marketed / shelved / pipeline candidates for the treatment of diseases different from what they were originally developed for, has emerged as a viable business strategy. The rising popularity of this approach may be attributed to benefits, such as reduced development timelines and relatively higher success rates (considering that the safety profiles of such candidates have already been established). In fact, of 28 drugs (including both novel and repurposed) approved by the USFDA in the first quarter of 2020, 12 were repurposed. Further, it is estimated that around 25%-40% of annual pharmaceutical revenues are generated from the sales of repurposed drugs. It is also worth highlighting that repurposing offers significant cost saving opportunities to innovators, while guaranteeing substantial returns on investment. In fact, the cost of developing and marketing a repurposed drug has been estimated to be USD 300 million, compared to the USD 2-3 billion investment required to bring a novel drug into the market. In this context, it is worth mentioning that several drugs (150+) that are presently being used / evaluated to treat COVID-19 are repurposed; prominent examples include chloroquine / hydroxychloroquine (anti-malarial drug) and remdesivir (initially developed to treat hepatitis C).
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A number of service providers, including contract research organizations (CROs), claim to provide the necessary support to drug developers in identifying / predicting prospective Clinical Trials for repurposing. Such companies offer a variety of services, encompassing both drug discovery operations and consultancy requirements. In fact, many such players claim to have developed proprietary platforms based on advanced technologies, such as big data analysis, artificial intelligence (AI) and real-world evidence, in order to facilitate drug repurposing related decision-making. This upcoming industry has witnessed significant partnership activity in the last ten years, with service providers having established strategic collaborations with innovator companies, as well as information technology (IT) and data management experts. In future, experts believe that outsourcing activity related to drug repurposing is anticipated to grow at a rate of 20-25%.
SCOPE OF THE REPORT The ''Drug Repurposing Service Providers Market, 2020-2030'' report features an extensive study of the current market landscape and future opportunities for players offering services for repurposing / repositioning / reprofiling of drug candidates. The study also includes an in-depth analysis, highlighting the capabilities of various service providers engaged in this domain. Amongst other elements, the report includes:
A detailed assessment of the current market landscape of companies offering drug repurposing services based on several relevant parameters, including year of establishment, company size, location of headquarters, type of company, type of service offered (drug discovery, consulting and others), purpose of repurposing, type of repurposing and technology platform used.
A detailed analysis of the various partnerships that have been signed within this domain, during the period 2013-2020, along with information on year of partnership, type of partnership, and partner company, type of technology / platform used, and key value drivers (such as target therapeutic area and type of drug molecule) and location of collaborators.
A review of recent initiatives undertaken by big pharma players across the globe for the discovery and development of repurposed drugs, along with information on number of initiatives, year of initiative. It also features a benchmark analysis of top 11 big pharma players (in terms of annual revenues of 2019), comparing them across various relevant parameters, such as name of repurposed drug, drug class, target therapeutic area, phase of development and target patient population.
A detailed analysis of terminated / withdrawn / suspended drug candidates that can be repurposed, based on several relevant parameters, such as current recruitment status, trial phase, cause of discontinuation of trial, type of sponsor, target therapeutic area(s).
A detailed analysis on the cost saving potential of drug repurposing approaches, as compared to the traditional de novo drug development methods.
Elaborate profiles of key players that specialize in offering services for the development of repurposed drugs. Each profile features an overview of the company (including information on its year of establishment, company size and location of headquarters), details on type of technology platform used, drug discovery and repurposing focused service portfolio, and an informed future outlook.
Detailed profiles of key organizations; each profile features an overview of the company (including information on year of establishment, location of headquarters, network affiliates and type of service offered), and recent developments related to drug repurposing. It provides brief discussion on the various research institutions and non-profit organizations that are presently engaged in the drug repurposing domain.
An elaborate discussion on the future opportunities / trends within the drug repurposing service provider outsourcing market that are likely to influence the growth of this domain over the coming years.
One of the key objectives of the report was to estimate the existing market size and the future growth potential within the drug repurposing service providers market. Based on various important parameters, such as projected rise in the overall pharmaceutical R&D expenditure, drug discovery costs, and outsourcing profile, we have provided an informed estimate of the likely evolution of the market in the short to mid-term and long term, for the period 2020-2030. The report also provides details on the likely distribution of the current and forecasted opportunity across [A] type of repurposing approach (disease centric, target-centric and drug-centric), [B] therapeutic area (same therapeutic area and different therapeutic area), [C] type of drug molecule (biologic and small molecule), and [D] key geographical regions (North America, Europe and Asia-Pacific). In order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry's growth. In addition, the report discusses the impact of the recent COVID-19 pandemic on the global drug repurposing service providers market, along with providing details related to the future market opportunity for players engaged in this domain.
The opinions and insights presented in the report were influenced by discussions held with senior stakeholders in the industry. All actual figures have been sourced and analyzed from publicly available information forums and inputs from primary research. Financial figures mentioned in this report are in USD, unless otherwise specified.
RESEARCH METHODOLOGY
The data presented in this report has been gathered via secondary and primary research. For all our projects, we conduct interviews with experts in the area (academia, industry, medical practice and other associations) to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will evolve across different regions and technology segments. Where possible, the available data has been checked for accuracy from multiple sources of information.
The secondary sources of information include Annual reports
Investor presentations
SEC filings
Industry databases
News releases from company websites
Government policy documents
Industry analysts' views
While the focus has been on forecasting the market over the coming decade, the report also provides our independent view on various emerging trends in the industry. This opinion is solely based on our knowledge, research and understanding of the relevant market, gathered from various secondary and primary sources of information.
KEY QUESTIONS ANSWERED Who are the leading players offering drug repurposing services?
What kind of initiatives have been undertaken by big pharma players related to drug repurposing?
What kind of partnership models are most commonly adopted by stakeholders in this industry?
What is the role of non-profit organizations and academic players in this domain?
What are the potential cost benefits of drug repurposing, compared to the traditional drug development process?
What factors are likely to influence the evolution of this upcoming market?
How has the recent COVID-19 pandemic likely impacted the demand for drug repurposing?
How is the current and future market opportunity likely to be distributed across key market segments?
CHAPTER OUTLINES
Chapter 2 is an executive summary of the key insights captured in our research. It offers a high-level view on the current state of the drug repurposing service providers market and its likely evolution in the short-mid and long terms.
Chapter 3 provides a brief introduction to drug repurposing, highlighting key historical and development milestones. It also provides a general overview of the strategies / approaches used for drug repurposing, featuring a discussion on the three commonly used methodologies in this domain. Further, the chapter presents details related to the various steps involved in repurposing of a drug and its comparison to the traditional de novo drug development process. It further highlights the role of service providers that operate within the drug repurposing market and the different types of services they usually offer. In addition, the chapter includes the advantages and challenges associated with drug repurposing, along with the key parameters that need to be considered while selecting a service provider.
Chapter 4 provides a detailed review of the current market landscape of companies offering drug repurposing services based on several relevant parameters, including year of establishment, company size, location of headquarters, type of company, type of service offered (drug discovery, consulting services and others), purpose of repurposing, type of repurposing and technology platform used.
Chapter 5 features elaborate profiles of key organizations featuring an overview of the company, including information on year of establishment, location of headquarters, network affiliates and type of service offered along with, recent developments made by the organizations. It provides information on the various research institutions and non-profit organizations that are involved in drug repurposing industry.
Chapter 6 features detailed profiles of key players that specialize in offering services for the development of repurposed drugs. Each profile features an overview of the company, along with information on its year of establishment, number of employees, location of headquarters, details related to type of technology platform used, drug discovery and repurposing focused service portfolio, and an informed future outlook.
Chapter 7 features a detailed analysis of the various partnerships that have taken place in this domain, highlighting the trend in the number of companies that have entered into collaborations between 2013-2020. Further, the analysis takes into account several relevant parameters, such as year of partnership, type of partnership, partner company, type of technology / platform used by the service provider, and other key value drivers (including target therapeutic area and geographical location of the service provider). Moreover, it presents a schematic world map representation highlighting the geographical distribution of the partnership activity within this domain, as well as presenting both inter- and intracontinental deals.
Chapter 8 presents a review of recent initiatives undertaken by big pharma players across the world for the discovery and development of repurposed drugs, highlighting trends across various parameters, such as number of initiatives, year of initiative, and benchmark analysis of big pharma players. The analysis allows companies to feature a detailed version on their existing capabilities, including name of the repurposed drug, drug class, target therapeutic area, phase of development and target patient population.
Chapter 9 presents a detailed analysis of terminated / withdrawn / suspended clinical drug development programs (identified using clinical trials) that have the potential to be repurposed, based on various relevant parameters, such as trial recruitment status, reason for withdrawal, termination and suspension of the trial, trial phase, type of sponsor and target therapeutic area(s).
Chapter 10 features a detailed analysis on the cost savings enable by use of the drug repurposing approach, by comparing it with the traditional de novo development process.
Chapter 11 presents a detailed market forecast analysis, highlighting the likely growth of drug repurposing service providers market till the year 2030. In order to provide a detailed future outlook, our projections have been segmented on the basis of [A] type of repurposing approaches (disease centric approach, target-centric approach and drug-centric approach, [B] therapeutic area (same therapeutic area and different therapeutic area), [C] type of drug molecule (biologics and small molecules), and [D] geography (North America, Europe and Asia-Pacific).
Chapter 12 highlights the effect of coronavirus outbreak on the global pharmaceutical industry. It includes a brief discussion on the short-term and long-term impact of COVID-19 upsurge on the supply chain and market opportunity for service providers. In addition, it includes a brief section on strategies and action plans that pharma companies are likely to adopt in order to prepare for supply chain disruptions in future.
Chapter 13 highlights an elaborate discussion on the future opportunities / trends for the drug repurposing service providers outsourcing market that are likely to influence the growth of this domain over the coming years.
Chapter 14 is a collection of interview transcript(s) of the discussions held with key stakeholders in the industry.
Chapter 15 is an appendix that provides the list of potential drug-indication candidates for drug repurposing that have been terminated / withdrawn / suspended in clinical trials.
Chapter 16 is an appendix that contains tabulated data and numbers for all the figures provided in the report.
Chapter 17 is an appendix that provides the list of companies and organizations mentioned in the report.
Read the full report: https://www.reportlinker.com/p05955648/?utm_source=PRN
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