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.
Get PDF Brochure with COVID19 Impact Analysis @ https://www.coherentmarketinsights.com/insight/request-pdf/1836
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
Based on Formulation
- Immediate Release Injection Form
- LAR Depot Form
Based on Application:-
- Therapeutics (Tumors, Acromegaly and Others)
Based on Distribution Channel:-
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
Based on Region:-
- North America
- Latin America
- Asia Pacific
- Middle East
Purchase This Premium Report Here With Discounted Price (Flat US $2000 Off) – https://www.coherentmarketinsights.com/promo/buynow/1836
Reasons to Purchase this Report
• Current and future of global Octreotide market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027