Somatostatin Analogs Market Share

North American Market Forecast

Somatostatin analogs market in North America is predicted to account for the largest share of 49% by 2036 impelled by the availability of key regional players such as Pfizer Inc. and Novartis AG. For instance, in September 2023 Novartis With its comprehensive portfolio, including the SSA therapy Sandostatin (octreotide), is likely to dominate up to half of the market by aiming for first-line status for its radionucleotide treatment Lutathera a peptide receptor radionuclide therapy that targets and destroys cancer cells with high-dose radiation and long-acting octreotide for the treatment of somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors.

APAC Market Statistics

The APAC Somatostatin analogs market is estimated to be the second largest, during the forecast timeframe led by rising pharmaceutical company. This has led to a rise in investment in research & development in improved somatostatin analogs that play a critical role in symptom management of excessive hormone production. India's pharmaceutical sector is predicted to be worth over USD 64 billion by 2024 and more than USD 125 billion by 2030.

Frequently Asked Questions (FAQ)

Rising prevalence of Cushing syndrome and the growing launch of advanced drug therapies for rare diseases are the major factors driving the growth of the market.

The market size of somatostatin analogs is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2024-2036.

The major players in the market are Novartis AG, Sun Pharmaceutical Industries Ltd, Midatech Pharma PLC, Ipsen Pharma, Chiasma Inc., Peptron, Inc., CRINETICS PHARMACEUTICALS, Dauntless Pharmaceuticals, Camurus AB, Teva Pharmaceuticals Inc, and Pfizer Inc.

The octreotide segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Somatostatin Analogs Market Share