Octreotides are an octapeptide pharmacologically resembling natural somatostatin. Octreotide acetate is used widely to treat of certain types of diarrhea, cancers, and tumors including carcinoid, vasoactive intestinal tumors secreting peptide, and pancreatic islet cell tumors. The Octreotide acetate are also used in treatment of acromegaly when body excessively produces growth hormone, causing enlarged feet, face, head, and hands.
Global Octreotide Market Drivers:-
Robust drugs pipeline in clinical trials is a major factor expected to drive growth of the global octreotide market over the forecast period. For instance, Mario Negri Institute for pharmacological research, in 2016, completed clinical trials of phase 2 for its Octreotide LAR combined with the drug tolvaptan drug to treat autosomal dominant polycystic kidney disease. The disease effects upon glomerular rate along with total cystic and kidney volume. Octreotide funded by Radbound University is within its clinical trial of phase 3 since 2016. The drug is undergoing clinical trial to treat angiodysplasia, gastrointestinal hemorrhage, anemia, and vascular malformations, with Octreotide. Injection Octreotide, funded by PVS memorial hospital is within clinical trials of phase 4 since 2016. The injection is prescribed to treat pancreatic fistula and pancreatoduodenectomy complications among patients having soft pancreas. Moreover, CAM2029 is currently being tested, in phase 2, for tumors of neuroendocrine and acromegaly by Camurus AB partnering with Novartis AG. The Octreotide chloride is this product’s active ingredient.
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Rising launches regarding novel products of Octreotide acetate by major market players is expected to fuel growth of the global octreotide market over the forecast period. For instance, in 2013, a biopharmaceutical company based in U.S. – Sagent Pharmaceuticals, launched its novel Octreotide acetate drug, an analog of samatostatin. The drug is utilized for reducing blood levels of IGF-I (soatomedinC) along with growth hormone within patients of acromegaly who don’t respond adequately to or who could not be treated through surgery, bromocriptine mesylate, and irradiation.
Increasing disease prevalence including cancer and acromegaly, is expected to surge the Octreotide drugs’ demand, which is expected to drive growth of the global octreotide market over the forecast period. As per the National Institute of Health conducted survey in 2015, around 4 million individuals in the U.S. have acromegaly.
Lack of R&D activities in Octreotide acetate to treat children, pregnant, and lactating women is the major factor expected to restrain growth of the global octreotide market over the forecast period. Moreover, Octreotide acetate consumption by pregnant women could cause problems for the fetus’ growth and hence, limits it’s by pregnant women.
Global Octreotide Market Regional Analysis:-
North America region is expected to gain the largest share in the global octreotide market owing to presence of major players along with robust products within the region. For instance, the biopharmaceutical firm, Chaisma Inc. sponsored – Octreotide capsules, completed its clinical trials of phase 3 in 2017 to treat acromegaly. LAR lanreotide funded by NYC-based Memorial Sloan Kettering Cancer Center, is presently in clinical trials of phase 4, from 2016. LAR lanreotide is prescribed to treat neuroendocrine tumors. New drugs are expected to drive the global octreotide market growth in this region. For instance, the U.S.-based pharmaceuticals and generic specialty company – Mylan Pharmaceutical Ltd, in 2011, launched sandostatin’s generic version i.e. Octreotide acetate injection USP (pre-filled syringes). Octreotide acetate injection USP is utilized for treating acromegaly. This is even used for inhibiting and suppressing severe diarrhea, related to vasoactive intestinal peptide tumors and metastatic carcinoid tumors.
Europe region is expected to register robust growth in the global octreotide market owing to mergers and acquisitions strategies among major players. For instance, the Switzerland-based Novartis AG, in 2017, acquired the France-based Advanced Accelerator Applications, for increasing developments of its portfolio of therapeutics, including Octreotide development for curing oncology.
Global Octreotide Market Key Players:-
Major players functioning in the global octreotide market are Sun Pharmaceuticals Industries Ltd., Samarth Pharma Pvt Ltd., Neiss Labs Pvt. Ltd., Unique Chemical Ltd, and Novartis AG. Major market players are adopting strategies of inorganic growth including acquisitions and mergers, for strengthening their foothold within the market globally. For instance, the Mumbai-based Sun Pharmaceutical Industries Ltd., in 2015, acquired the India-based company of pharmaceutics -Ranbaxy laboratories Ltd. for enhancing its productivity along with focusing on therapeutic area development, such as new drugs development of Octreotide acetate. Strategic acquisitions of such kind among major market players is expected to accelerate the global octreotide market growth in the near future.
Global Octreotide Market Taxonomy:-
Based on Product Type:-
- Indium In-111; Octreotide
- Octreotide chloride
- Octreotide acetate
- Others
Based on Formulation
- Immediate Release Injection Form
- LAR Depot Form
Based on Application:-
- Diagnostics
- Therapeutics (Tumors, Acromegaly and Others)
Based on Distribution Channel:-
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
Based on Region:-
- North America
- Latin America
- Europe
- Asia Pacific
- Africa
- Middle East
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