The report covers forecast and analysis for the Somatostatin Analogs market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the Somatostatin Analogs market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Somatostatin Analogs market on a global level. In order to give the users of this report a comprehensive view on the Somatostatin Analogs market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein indication, type, and regional segments are benchmarked based on their market size, growth rate and general attractiveness.
Somatostatin analogs are medications that stop too many hormones in your body. Many neuroendocrine tumors (NETs) make large quantities of hormones that cause a group of symptoms called carcinoid syndrome. In people with carcinoid syndrome, somatostatin analogs are a possible treatment. There are a number of things Somatostatin does. A variety of hormones such as insulin and gut hormones are slowed down or halted. It also regulates the stomach and intestine emptying. A somatostatin analog is a man-made somatostatin (synthetic) form. This slows hormone production, especially growth hormone and serotonin. It helps control carcinoid syndrome symptoms such as diarrhoea and skin flushing. It can shorten the NET as well.
The study provides a decisive view on the Somatostatin Analogs market by segmenting the market based on indication, type and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. 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. In 2018, blood transfusion therapy held the largest market share. Acromegaly is projected to be the largest segment in 2018 and the fastest growing segment over the forecast period. Increasing acromegaly awareness coupled with the availability of effective treatment options is considered to be the major factor driving growth in the segment. For example, in November 2018, Acromegaly Awareness Day was held in Canada, providing various acromegaly information along with the treatment options available and their benefits.
The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa with its further bifurcation into major countries such as US, Canada, Germany, UK, France, China, Japan, India, GCC countries, Brazil. North America dominated the market. The initial factors responsible for local growth are expected to be high prevalence of acromegaly and NETs. It is also anticipated that the presence of key players in the region such as Pfizer Inc. and Novartis AG, as well as increasing awareness among individuals, would drive market growth.
Some of the factors driving the growth of the demand for somatostatin analogs are growing R&D initiatives and the release of novel drug therapies. For starters, Novartis AG introduced Signifor (Pasireotide) in 2012 to treat Cushing's syndrome and acromegaly in 2014. Another key contributing factor to overall market growth is the presence of favorable government insurance policies & schemes for rare disease patients. For example, multiple government healthcare agencies in the U.S. and Europe, such as National Institutes of Health (NIH) and National Center of Advancing Translational Sciences (NCATS), provide affordable rare disease medicines.
Key players within global Somatostatin Analogs market include Camurus AB, Chiasma Inc., CRINETICS PHARMACEUTICALS, Dauntless Pharmaceuticals, Ipsen Pharma, Midatech Pharma PLC, Novartis AG, Peptron, Inc., Pfizer Inc., Sun Pharmaceutical Industries Ltd, and Teva Pharmaceuticals Inc amongst others.
The report segments global Somatostatin Analogs market as follows:
Global Somatostatin Analogs Market: Indication Segment Analysis
Global Somatostatin Analogs Market: Type Segment Analysis
Global Somatostatin Analogs Market: Regional Segment Analysis