Somatostatin Analogs Market revenue to reach USD 10 Billion by 2035
Zion Market Research has published a new report titled “Somatostatin Analogs Market by Indication (acromegaly, NETs, and others), Type (octreotide, lanreotide, and pasireotide): Global Industry Perspective, Comprehensive Analysis and Forecast.
According to the report, The global somatostatin analogs market size is slated to expand at ~6% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 10 billion by the end of 2035, up from a revenue of ~USD 6 billion in the year 2022
Drugs that inhibit too many hormones in your body are somatostatin analogs. Most neuroendocrine tumors (NETs) produce large amounts of hormones that cause a group of symptoms called the syndrome of carcinoids. Somatostatin analogs are a potential treatment for people with carcinoid syndrome. Somatostatin does a number of things. A number of hormones are slowed down or halted, such as insulin and gut hormones. It also manages the emptying of the stomach and intestine. A somatostatin analog is a man-made (synthetic) form of somatostatin. This slows the development of hormones, especially growth hormone and serotonin. It helps to control symptoms of carcinoid syndrome such as diarrhea and flushing of the skin. It may also shorten the NET.
Some of the factors that drive the growth of somatostatin analog demand are increasing R&D initiatives and the release of new drug therapies. In 2012, Novartis AG introduced Signifor (Pasireotide) to treat the syndrome and acromegaly of Cushing in 2014 for the first time. The availability of favorable government insurance plans and programs for patients with rare diseases is another important contributing factor to overall market growth. Of example, multiple government organizations in the U.S. and Europe, such as National Institutes of Health (NIH) and National Center of Advancing Translational Sciences (NCATS), offer inexpensive drugs for rare diseases.
The market for Somatostatin Analogs is segmented based on type, indication and region. Based on type, the market is segmented into octreotide, lanreotide, and pasireotide. Due to its various therapeutic applications such as acromegaly, carcinoid tumors, and vasoactive intestinal peptide tumors, octreotide dominated the overall category segment in 2018.
Based on indication, the market is segmented into acromegaly, NETs, and others. Acromegaly is projected to be the largest segment over the forecast period in 2018 and the fastest growing segment. Increasing understanding of acromegaly coupled with the availability of effective treatment options is considered the major factor driving the segment’s development. Acromegaly Awareness Day, for example, was celebrated in Canada in November 2018, offering different acromegaly facts along with available treatment services and benefits.
Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries as US, Canada, Germany, UK, France, China, Japan, India, GCC countries, Brazil. The market was dominated by North America. High prevalence of acromegaly and NETs is expected to be the initial factors responsible for local development. The involvement of key players in the region such as Pfizer Inc. and Novartis AG, as well as increased awareness among individuals, is also expected to drive market growth.
Some of the players included in Somatostatin Analogs market are -
- Camurus AB
- Chiasma Inc.
- CRINETICS PHARMACEUTICALS
- Dauntless Pharmaceuticals
- Ipsen Pharma
- Midatech Pharma PLC
- Novartis AG
- Peptron
- Pfizer Inc.
- Sun Pharmaceutical Industries Ltd
- Teva Pharmaceuticals
The report segments global Somatostatin Analogs market as follows:
Global Somatostatin Analogs Market: Indication Segment Analysis
- Acromegaly
- Neuroendocrine Tumors (NETs)
- Others
Global Somatostatin Analogs Market: Type Segment Analysis
- Octreotide
- Lanreotide
- Pasireotide
Global Somatostatin Analogs Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us — after all — if you do well, a little of the light shines on us.
Contact Us:
Zion Market Research 244 Fifth Avenue, Suite N202 New York, 10001, United States Tel: +49–322 210 92714 USA/Canada Toll-Free №1–855–465–4651 Email: sales@zionmarketresearch.com Website: https://www.zionmarketresearch.com