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Somatostatin Analogs Market Size Worth USD 8.13 Billion by 2025 | CAGR: 5.8%

The Somatostatin Analogs market is expected to grow at CAGR of 5.8% to reach USD 8.13 billion by 2025.

Somatostatin is a 1,4-amino acid peptide that acts by inhibiting pancreatic endocrine and exocrine secretion. This chemical is commonly found in the gastrointestinal system, including the endocrine cells, visceral nervous system, pancreas, and gut lumen. Somatostatin analogs are used as the first line of treatment for disease conditions such as carcinoid syndrome, acromegaly, Cushing syndrome, neuroendocrine tumour among others. The market growth is primarily driven by the increasing incidences of neuroendocrine tumours and acromegaly coupled with the rising investments in research and development activities by key players. For instance, as per the case study conducted by the European Society of Endocrinology found out that the average annual incidence rate of acromegaly is approximately 4 cases per 10 patient population. This would, in turn, support the industry growth over the forecast period. However, the lack of product awareness will hamper industry growth during the study period.

The published study on Somatostatin Analogs Market covers market estimates, forecast and qualitative analysis on a global as well as regional level. The study provides historic data from 2014 to 2018, the base year 2018, along with a forecast from 2019 to 2025 based on revenue (USD Million). The research report includes drivers, restraints, and opportunities for the Somatostatin Analogs industry along with the impact they have on the product demand over the study period.

Additionally, in order to highlight the comprehensive view on the Somatostatin Analogs industry, we have included strategic analysis such as analysis of Porter’s Five Forces model, competitive landscape, regulatory framework study for the market. The study also encompasses a market attractiveness analysis, wherein type, indication, and regional segments are benchmarked based on market value, CAGR, and general attractiveness.

Browse 51 Tables and 104 Figures spread through over 150 Pages and in-depth TOC on” Somatostatin Analogs Market, By Type (Octreotide, Lanreotide, Pasireotide), By Indication and By Region (North America, Europe, Asia Pacific and RoW) – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025” Request Sample Here

KEY TAKEAWAY

The analog type segment is categorized as Lanreotide, Octreotide, and Pasireotide. Of which, Octreotide accounted for the significant revenue share. It is an 8-amino acid synthetic somatostatin analog. Octreotide acts by inhibiting gastroenteropancreatic secretion, especially of glucagon, insulin, gastric inhibitory polypeptide, pancreatic polypeptide, and gastrin.
Commercially available octreotide i.e. Sandostatin LAR (octreotide acetate LAR) and Sandostatin (octreotide acetate) are proven for the treatment of bleeding gastroesophageal
In terms of indications, the industry is divided as acromegaly, Neuroendocrine Tumors, and others (Gastrinoma, Pituitary Adenoma, Glucagonoma, etc.).
Acromegaly indication accounted for the highest revenue share and is anticipated to grow with a promising growth rate in the future.
North America accounted for the highest revenue share, i.e. over 50% of the revenue share. Regional growth is attributed to the rising prevalence of acromegaly coupled with increasing research and development activities for new product developments by key players.
Key manufacturers such as Peptron, Midatech Pharma, Teva Pharmaceuticals, Camurus AB, Crinetics Pharmaceuticals, Sun Pharma Advanced Research Company Ltd., Novartis AG, Ipsen Biopharmaceuticals, and Chiasma, Inc. are actively operating in this market

The global Somatostatin Analogs market by its major segments, which include as follows:

SOMATOSTATIN ANALOGS MARKET, BY ANALOG TYPE