DUBLIN--(BUSINESS WIRE)--The "Somatostatin Analogs Market Size and Forecast by Type (Octreotide, Lanreotide, Pasireotide) by Indication (Acromegaly, Neuroendocrine Tumor (NET)) and Trend Analysis, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
The global somatostatin analogs market size to reach USD 3.1 billion by 2024, owing to the rise in the incidence rate of acromegaly and neuroendocrine tumor over the forecast period. Rising awareness, training and education by Pituitary Association of Australia and UK & Ireland Neuroendocrine Tumor Society is expected to have positive impact on the market growth in the coming years.
The octreotide type analog brand Sandostatin accounted for more than 67% of the market share in 2016. The demand for octreotide is expected to show stagnant growth over the forecast period. Owing to the patent expiration of the drug Sandostatin LAR in 2014 in U.S., which was being marketed by Novartis in North America, Europe and many other countries across the globe.
Neuroendocrine tumor (NET) segment held more than 50% of the market share in 2016. Increasing incidence rate of neuroendocrine tumors and associated diseases such as carcinoid tumors is the key factor driving the growth of the market during the forecast period.
North America held more than 45% of market share in 2016. Increasing incidence of acromegaly and neuroendocrine tumor (NET) coupled with the rise in awareness and accuracy of disease diagnosis in developed economies is building a positive outlook for the acceptance of somatostatin analogs.
Asia Pacific is expected to exhibit the fastest growth over the forecast period owing to the rise in the research and development activities in the medical field and the launch of innovative drug formulations are the main factor driving the growth of somatostatin analogs market over the forecast period.
- Novartis AG
- Chiasma, Inc.
- Ipsen Biopharmaceuticals, Inc.
- Sun Pharma Advanced Research Company Ltd.
Key Topics Covered:
Chapter 1. Executive Summary
Chapter 2. Methodology and Scope
Chapter 3. Introduction
Chapter 4. Somatostatin analogs Market Trends: Drivers & Opportunities
Chapter 5. Somatostatin analogs Market, By Analogs Type
Chapter 6. Somatostatin analogs Market Trends, By Indication
Chapter 7. Somatostatin analogs Market Trends, By Region
Chapter 8. Key Country Markets
Chapter 9. Competitive Landscape
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