Somatostatin Analogs Market 2021
Somatostatin analogs market 2020 can expect to capture a significant valuation of close to USD 8,640 Million by 2025, reveals MRFR (Market Research Future). MRFR also projects favorable prospects for the market at a CAGR of 6.8% between 2019 and 2025 (assessment period). We will provide COVID-19 impact analysis with the report, combined with an in-depth analysis following the coronavirus disease outbreak.
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Major Key Players:
Some of the Key Players in the Global Somatostatin Analogs Market are Novartis AG (Switzerland), Ipsen Pharma (France), Fresenius Kabi (Germany), Peptron (South Korea), Pfizer Inc. (US), and Teva Pharmaceuticals Inc. (Israel).
Besides these key players, there are several potential market entrants which are working on the pipeline products in the somatostatin analogs market. Some of these players are Camurus AB (Sweden), Chiasma, Inc. (US), Crinetics Pharmaceuticals (US), Dauntless Pharmaceuticals (US), Midatech Pharma plc (UK), and Sun Pharmaceutical Industries Ltd (India), among others.
Segment Analysis
Somatostatin analogs industry can be categorized with respect to type and application.
The Somatostatin analogs types available in the market include Lanreotide, Pasireotide and Octreotide. Octreotide is most likely to emerge as the top segment in the market as it notes the highest demand as a commercial vaccine. Pasireotide could be the fastest expanding segment in the years to come, on account of the surging knowledge with regard to the different treatment options among patients afflicted by Cushing’s syndrome, for which Pasireotide is the key treatment drug.
Somatostatin analogs find extensive applications in Cushing’s syndrome, acromegaly, neuroendocrine tumors (NETs), and more. Application of these drugs is most common in neuroendocrine tumor, which is expected to be the top segment during the conjectured period. However, the fastest growth will be witnessed by the acromegaly segment during the given period.
Regional Analysis
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increased awareness about NET’s and high per capita disposable incomes. The somatostatin analogs market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The high occurrence of NET’s in US is one of the reasons for the growth of the market in the country. The European somatostatin analogs market is the fastest-growing market, and it has been categorized as Western Europe and Eastern Europe. The Western European market has further been divided as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The presence of a number of product manufacturers such as Novartis AG (Switzerland), Ipsen Pharma (France), Fresenius Kabi (Germany) is one of the factors pushing the growth of the regional market. The somatostatin analogs market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the rising per capita healthcare expenditure and growing awareness towards the treatment of acromegaly and NETs, the market in Asia-Pacific is expected to grow at a significant rate during the forecast. The somatostatin analogs market in the Middle East & Africa has been divided into the Middle East and Africa.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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