Name: Somatostatin Analogs Market Size, Trends, Share, Global 2030
Brand: simple
SKU: 17450
Price: 3200.00 USD
Availability: InStock

Report Code: CMI17450

Published Date: August 2022

Pages: 220+

Category: Pharmaceuticals

Report Snapshot

CAGR: 6.5%

5.8B

2021

6.2B

2022

10B

2030

Source: CMI

Study Period:	2024-2033
Fastest Growing Market:	Asia-Pacific
Largest Market:	Europe

Major Players

Sun Pharmaceutical Industries Ltd
Camurus AB
Novartis AG
Others

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Reports Description

In 2021, the global Somatostatin Analogs market was estimated at USD 5.8 billion and is projected to reach approximately USD 10 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2022 and 2030.

The report studies the Somatostatin Analogsmarket’s drivers and restraints, coupled with the impact they have on demand during the projection period. Additionally, the report analyzes global opportunities present in the somatostatin analogs market.

Somatostatin AnalogsMarket: Overview

A medication known as a somatostatin analogue lowers the body’s high hormone release. It is a somatostatin that has been synthesised artificially. Somatostatin analogues may be used to treat acromegaly and neuroendocrine tumours (NETs), a rare hormonal condition that causes the body to create excessive levels of hormones. The market for somatostatin analogues is therefore anticipated to grow rapidly in the next years.

Somatostatin Analogs Market: COVID–19 Impact Analysis

The COVID-19 outbreak is being addressed by pharmaceutical and biotech businesses working with governments from all over the world on everything from vaccine research to issues with the medication supply chain. There are now 155 compounds and about 115 vaccine candidates in the R&D pipeline. The need for regularly used medications, such as hydroxychloroquine, has also dramatically increased for COVID-19 therapy. There is a significant market opportunity for producers of COVID-19 management pharmaceuticals because supplies of these medications are running low in many wealthy nations. The demand for COVID-19 vaccines and treatment medications is expected to drive exponential growth in the pharmaceutical and biotechnology industries in the next years.

In 2020, the market for somatostatin analogues was already significantly impacted by the COVID-19 pandemic outbreak. This was ascribed to the direct effects on demand and production that disrupted supply chains and markets and negatively affected businesses and financial markets in terms of both revenue and expenses.

Somatostatin Analogs Market: Growth Drivers

Substantial R&D expenditures that result in the launch of new products:

The market for somatostatin analogues has seen increased R&D effort, which has led to a greater use of pharmacological compounds that are currently on the market. Also, businesses produce market investments and research funds for these R&D operations, which have a favourable effect on market expansion. As of November 2019, there were about 80, 25, and 10 clinical investigations (active/recruiting) on octreotide, lanreotide, and pasireotide, respectively. In addition, 27 of the 38 clinical trials being done on acromegaly involve the use of somatostatin analogues. Similar to this, 1,075 clinical studies are being done on neuroendocrine tumours, and 85 of these use somatostatin analogues.

Government insurance programmes that are helpful:

The availability of advantageous government insurance policies and programmes for patients with rare diseases is another significant element influencing the market’s expansion. For instance, the NIH and NCATS offer subsidised medications for uncommon disorders in the US and Europe.

Global Somatostatin Analogs Market 2023 – 2032 (By Type)

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Somatostatin Analogs Market: Segmentation Analysis

The somatostatin analogues market is divided into types, applications, and end users for the purposes of our research. The market is divided into three types: octreotide, lanreotide, and pasireotide. Octreotide led the entire type segment in 2021 due to its several therapeutic applications, including acromegaly, carcinoid tumours, and vasoactive intestinal peptide tumours. Sandostatin is the first somatostatin analogue approved by Novartis AG.

Over the projected period, Sandostatin’s market share is anticipated to be impacted by the release of generic versions of the drug. Pasireotide is anticipated to rise at the quickest rate during the projected period due to its effectiveness in patients with Cushing syndrome and acromegaly. Also, since the medicine was introduced in 2014 for acromegaly, sales are at their height. Phase II clinical trials are also being conducted to evaluate it for advanced/metastatic hepatocellular cancer.

The acromegaly, NETs, and other applications segments of the somatostatin analogues market are separated. Acromegaly is anticipated to be the largest segment in 2021 and the segment with the quickest rate of growth throughout the course of the forecast. The main driver of segment expansion is thought to be the rising public awareness of acromegaly and the availability of efficient treatment options.

Report Scope

Feature of the Report	Details
Market Size in 2021	USD 5.8 Billion
Projected Market Size in 2030	USD 10 Billion
CAGR Growth Rate	6.5% CAGR (2022-2030)
Base Year	2023
Forecast Period	2024-2033
Prominent Players	Sun Pharmaceutical Industries Ltd, Camurus AB, Novartis AG, Midatech Pharma PLC, Chiasma Inc, Peptron, Inc, Ipsen Pharma, Crinetics Pharmaceuticals, Dauntless Pharmaceuticals, Teva Pharmaceuticals Inc, and Others
Key Segment	By Type, Application, End User, and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Key Insights:

The Somatostatin Analogs Market is anticipated to expand annually at a CAGR of roughly 6.5% over the projected period, according to the study supplied by our research analyst (2022-2030).
The global market for somatostatin analogues was estimated to generate around 5.8 billion USD in sales in 2021, and it is anticipated to increase to 10 billion USD by 2030. The market is expected to grow significantly over the coming years as a result of a number of driving factors.
The Octreotide category is predicted to hold a commanding market share in 2021 based on type segmentation.
According to application segmentation, the category for acromegaly is anticipated to have a higher CAGR between 2022 and 2030.
Geographically speaking, North America was the top source of revenue in 2021.

Global Somatostatin Analogs Market 2023 – 2032 (By Billion)

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Recent Development

The US FDA has approved Mycapssa as an orphan drug for the treatment of carcinoid syndrome, Amryt, a commercial-stage biopharmaceutical company dedicated to acquiring, developing, and commercialising innovative medicines for rare diseases, is happy to report. Carcinoid syndrome is the most typical functional syndrome connected to neuroendocrine tumours.
June 2020: For patients with acromegaly who had previously responded to and tolerated octreotide or lanreotide injections, the US FDA has approved oral octreotide delayed-release capsules.

Regional Landscape

The somatostatin analogue market was dominated by North America, which is also anticipated to generate more than 50% of total revenue. The primary engine of regional growth is anticipated to be the high prevalence of acromegaly and NETs. Additionally, it is anticipated that the presence of significant competitors in the area, including Pfizer Inc. and Novartis AG, as well as growing consumer awareness, will fuel market expansion.

Asia-Pacific is anticipated to experience the fastest growth during the projection period. An increase in the number of NET diagnoses in nations like India, Japan, and South Korea, combined with increased per capita income, is one of the major market drivers.

Global Somatostatin Analogs Market 2023 – 2032 (By End User)

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Competitive Landscape

Companies are concentrating on initiatives such as the creation of novel formulations, alliances and distribution contracts, and geographical expansion in an effort to improve their revenue share. All of the companies profiled in the research are described in detail in the chapter on the competitive landscape. The following information is provided about the company: an overview, financials, revenue generated, market potential, R&D investments, new market initiatives, global presence, production sites, and facilities; company strengths and weaknesses; product launches, clinical trial pipelines, product approvals, patents; product width and breadth; application dominance; and the technology lifeline curve. The information given above is exclusive to the market for somatostatin analogues, which is the company’s primary emphasis.

The global Somatostatin Analogsmarket is segmented as follows:

By Type

Lanreotide
Octreotide
Pasireotide

By Application

Neuroendocrine Tumors (NETs)
Acromegaly
Others

By End User

Pharmaceutical Companies
Hospitals

On the basis of Geography

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

Table of Contents

Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
  - 1.3.1 Market Research Type
  - 1.3.2 Market research methodology
Chapter 2. Executive Summary
- 2.1 Global Somatostatin Analogs Market, (2022 – 2030) (USD billion)
- 2.2 Global Somatostatin Analogs Market: snapshot
Chapter 3. Global Somatostatin Analogs Market – Industry Analysis
- 3.1 Somatostatin Analogs Market: Market Dynamics
- 3.2 Market Drivers
  - 3.2.1 Significant R&D investments resulting in new product launches
  - 3.2.2 Supportive government insurance policies
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
  - 3.7.1 Market attractiveness analysis By Type
  - 3.7.2 Market attractiveness analysis By Application
  - 3.7.3 Market attractiveness analysis By End User
Chapter 4. Global Somatostatin Analogs Market- Competitive Landscape
- 4.1 Company market share analysis
  - 4.1.1 Global Somatostatin Analogs Market: company market share, 2021
- 4.2 Strategic development
  - 4.2.1 Acquisitions & mergers
  - 4.2.2 New Product launches
  - 4.2.3 Agreements, partnerships, collaborations, and joint ventures
  - 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
Chapter 5. Global Somatostatin Analogs Market – Type Analysis
- 5.1 Global Somatostatin Analogs Market overview: By Type
  - 5.1.1 Global Somatostatin Analogs Market share, By Type, 2021 and 2030
- 5.2 Lanreotide
  - 5.2.1 Global Somatostatin Analogs Market by Lanreotide, 2022 – 2030 (USD billion)
- 5.3 Octreotide
  - 5.3.1 Global Somatostatin Analogs Market by Octreotide, 2022 – 2030 (USD billion)
- 5.4 Pasireotide
  - 5.4.1 Global Somatostatin Analogs Market by Pasireotide, 2022 – 2030 (USD billion)
Chapter 6. Global Somatostatin Analogs Market – Application Analysis
- 6.1 Global Somatostatin Analogs Market overview: By Application
  - 6.1.1 Global Somatostatin Analogs Market share, By Application, 2021 and 2030
- 6.2 Neuroendocrine Tumors (NETs)
  - 6.2.1 Global Somatostatin Analogs Market by Neuroendocrine Tumors (NETs), 2022 – 2030 (USD billion)
- 6.3 Acromegaly
  - 6.3.1 Global Somatostatin Analogs Market by Acromegaly, 2022 – 2030 (USD billion)
- 6.4 Others
  - 6.4.1 Global Somatostatin Analogs Market by Others, 2022 – 2030 (USD billion)
Chapter 7. Global Somatostatin Analogs Market – End User Analysis
- 7.1 Global Somatostatin Analogs Market overview: By End User
  - 7.1.1 Global Somatostatin Analogs Market share, By End User, 2021 and 2030
- 7.2 Pharmaceutical Companies
  - 7.2.1 Global Somatostatin Analogs Market by Pharmaceutical Companies, 2022 – 2030 (USD billion)
- 7.3 Hospitals
  - 7.3.1 Global Somatostatin Analogs Market by Hospitals, 2022 – 2030 (USD billion)
Chapter 8. Somatostatin Analogs Market – Regional Analysis
- 8.1 Global Somatostatin Analogs Market Regional Overview
- 8.2 Global Somatostatin Analogs Market Share, by Region, 2021 & 2030 (USD billion)
- 8.3. North America
  - 8.3.1 North America Somatostatin Analogs Market, 2022 – 2030 (USD billion)
    - 8.3.1.1 North America Somatostatin Analogs Market, by Country, 2022 – 2030 (USD billion)
- 8.4 North America Somatostatin Analogs Market, by Type, 2022 – 2030
  - 8.4.1 North America Somatostatin Analogs Market, by Type, 2022 – 2030 (USD billion)
- 8.5 North America Somatostatin Analogs Market, by Application, 2022 – 2030
  - 8.5.1 North America Somatostatin Analogs Market, by Application, 2022 – 2030 (USD billion)
- 8.6 North America Somatostatin Analogs Market, by End User, 2022 – 2030
  - 8.6.1 North America Somatostatin Analogs Market, by End User, 2022 – 2030 (USD billion)
- 8.4. Europe
  - 8.4.2 Europe Somatostatin Analogs Market, 2022 – 2030 (USD billion)
    - 8.4.2.1 Europe Somatostatin Analogs Market, by Country, 2022 – 2030 (USD billion)
- 8.4 Europe Somatostatin Analogs Market, by Type, 2022 – 2030
  - 8.4.1 Europe Somatostatin Analogs Market, by Type, 2022 – 2030 (USD billion)
- 8.5 Europe Somatostatin Analogs Market, by Application, 2022 – 2030
  - 8.5.1 Europe Somatostatin Analogs Market, by Application, 2022 – 2030 (USD billion)
- 8.6 Europe Somatostatin Analogs Market, by End User, 2022 – 2030
  - 8.6.1 Europe Somatostatin Analogs Market, by End User, 2022 – 2030 (USD billion)
- 8.5. Asia Pacific
  - 8.5.3 Asia Pacific Somatostatin Analogs Market, 2022 – 2030 (USD billion)
    - 8.5.3.1 Asia Pacific Somatostatin Analogs Market, by Country, 2022 – 2030 (USD billion)
- 8.4 Asia Pacific Somatostatin Analogs Market, by Type, 2022 – 2030
  - 8.4.1 Asia Pacific Somatostatin Analogs Market, by Type, 2022 – 2030 (USD billion)
- 8.5 Asia Pacific Somatostatin Analogs Market, by Application, 2022 – 2030
  - 8.5.1 Asia Pacific Somatostatin Analogs Market, by Application, 2022 – 2030 (USD billion)
- 8.6 Asia Pacific Somatostatin Analogs Market, by End User, 2022 – 2030
  - 8.6.1 Asia Pacific Somatostatin Analogs Market, by End User, 2022 – 2030 (USD billion)
- 8.6. Latin America
  - 8.6.4 Latin America Somatostatin Analogs Market, 2022 – 2030 (USD billion)
    - 8.6.4.1 Latin America Somatostatin Analogs Market, by Country, 2022 – 2030 (USD billion)
- 8.4 Latin America Somatostatin Analogs Market, by Type, 2022 – 2030
  - 8.4.1 Latin America Somatostatin Analogs Market, by Type, 2022 – 2030 (USD billion)
- 8.5 Latin America Somatostatin Analogs Market, by Application, 2022 – 2030
  - 8.5.1 Latin America Somatostatin Analogs Market, by Application, 2022 – 2030 (USD billion)
- 8.6 Latin America Somatostatin Analogs Market, by End User, 2022 – 2030
  - 8.6.1 Latin America Somatostatin Analogs Market, by End User, 2022 – 2030 (USD billion)
- 8.7. The Middle-East and Africa
  - 8.7.5 The Middle-East and Africa Somatostatin Analogs Market, 2022 – 2030 (USD billion)
    - 8.7.5.1 The Middle-East and Africa Somatostatin Analogs Market, by Country, 2022 – 2030 (USD billion)
- 8.4 The Middle-East and Africa Somatostatin Analogs Market, by Type, 2022 – 2030
  - 8.4.1 The Middle-East and Africa Somatostatin Analogs Market, by Type, 2022 – 2030 (USD billion)
- 8.5 The Middle-East and Africa Somatostatin Analogs Market, by Application, 2022 – 2030
  - 8.5.1 The Middle-East and Africa Somatostatin Analogs Market, by Application, 2022 – 2030 (USD billion)
- 8.6 The Middle-East and Africa Somatostatin Analogs Market, by End User, 2022 – 2030
  - 8.6.1 The Middle-East and Africa Somatostatin Analogs Market, by End User, 2022 – 2030 (USD billion)
Chapter 9. Company Profiles
- 9.1 Sun Pharmaceutical Industries Ltd
  - 9.1.1 Overview
  - 9.1.2 Financials
  - 9.1.3 Product Portfolio
  - 9.1.4 Business Strategy
  - 9.1.5 Recent Developments
- 9.2 Camurus AB
  - 9.2.1 Overview
  - 9.2.2 Financials
  - 9.2.3 Product Portfolio
  - 9.2.4 Business Strategy
  - 9.2.5 Recent Developments
- 9.3 Novartis AG
  - 9.3.1 Overview
  - 9.3.2 Financials
  - 9.3.3 Product Portfolio
  - 9.3.4 Business Strategy
  - 9.3.5 Recent Developments
- 9.4 Midatech Pharma PLC
  - 9.4.1 Overview
  - 9.4.2 Financials
  - 9.4.3 Product Portfolio
  - 9.4.4 Business Strategy
  - 9.4.5 Recent Developments
- 9.5 Chiasma Inc
  - 9.5.1 Overview
  - 9.5.2 Financials
  - 9.5.3 Product Portfolio
  - 9.5.4 Business Strategy
  - 9.5.5 Recent Developments
- 9.6 Peptron Inc
  - 9.6.1 Overview
  - 9.6.2 Financials
  - 9.6.3 Product Portfolio
  - 9.6.4 Business Strategy
  - 9.6.5 Recent Developments
- 9.7 Ipsen Pharma
  - 9.7.1 Overview
  - 9.7.2 Financials
  - 9.7.3 Product Portfolio
  - 9.7.4 Business Strategy
  - 9.7.5 Recent Developments
- 9.8 Crinetics Pharmaceuticals
  - 9.8.1 Overview
  - 9.8.2 Financials
  - 9.8.3 Product Portfolio
  - 9.8.4 Business Strategy
  - 9.8.5 Recent Developments
- 9.9 Dauntless Pharmaceuticals
  - 9.9.1 Overview
  - 9.9.2 Financials
  - 9.9.3 Product Portfolio
  - 9.9.4 Business Strategy
  - 9.9.5 Recent Developments
- 9.10 Teva Pharmaceuticals Inc
  - 9.10.1 Overview
  - 9.10.2 Financials
  - 9.10.3 Product Portfolio
  - 9.10.4 Business Strategy
  - 9.10.5 Recent Developments

List Of Figures

Figures No 1 to 24

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective	Primary research	Secondary research
Supply-side	Manufacturers Technology distributors and wholesalers	Company reports and publications Government publications Independent investigations Economic and demographic data
Demand-side	End-user surveys Consumer surveys Mystery shopping	Case studies Reference customers

Market Analysis Matrix

Qualitative analysis

Quantitative analysis

Industry landscape and trends
Market dynamics and key issues
Technology landscape
Market opportunities
Porter’s analysis and PESTEL analysis
Competitive landscape and component benchmarking
Policy and regulatory scenario

Market revenue estimates and forecast up to 2028
Market revenue estimates and forecasts up to 2028, by technology
Market revenue estimates and forecasts up to 2028, by application
Market revenue estimates and forecasts up to 2028, by type
Market revenue estimates and forecasts up to 2028, by component
Regional market revenue forecasts, by technology
Regional market revenue forecasts, by application
Regional market revenue forecasts, by type
Regional market revenue forecasts, by component

List of the prominent players in the global Somatostatin Analogsmarket:

Sun Pharmaceutical Industries Ltd
Camurus AB
Novartis AG
Midatech Pharma PLC
Chiasma Inc
Peptron, Inc
Ipsen Pharma
Crinetics Pharmaceuticals
Dauntless Pharmaceuticals
Teva Pharmaceuticals Inc
Others

FAQs

1 . Which region will dominate the global Somatostatin Analogs Market?

The north American region will lead the global Somatostatin Analogs market during the forecast period 2022 to 2030.

2 . Which are the driving factors of the Somatostatin Analogs Market?

Increased R&D activity in the somatostatin analogs market has resulted in increased use of already existing drug molecules. Furthermore, for these R&D activities, companies generate research funding and market investments, which positively impact market growth.

3 . Who are the top players operating in the Somatostatin Analogs Market?

The key players operating in the Somatostatin Analogs market are Sun Pharmaceutical Industries Ltd, Camurus AB, Novartis AG, Midatech Pharma PLC, Chiasma Inc, Peptron, Inc, Ipsen Pharma, Crinetics Pharmaceuticals, Dauntless Pharmaceuticals, Teva Pharmaceuticals Inc, and Others.