Somatostatin Analogs Market is expected to hold a value of about USD 8,640 Million and it is projected to grow at a CAGR of 6.8% over the forecast period
Somatostatin Analogs Market is expected to hold a value of about USD 8,640 Million by 2025, and it is projected to grow at a CAGR of 6.8% from 2019 to 2025.
Somatostatin analogs are the drugs that stop the excessive hormone secretion in the body. Neuroendocrine Tumors (NETs) and Acromegaly, a rare hormonal disorder, are the most common indications treated with somatostatin analogs. Some of the other common tumors treated with Somatostatin Analogs are carcinoid tumors, glucagonomas, VIPomas, and GH-secreting tumors. Besides this, Somatostatin Analogs are also used to treat Cushing's syndrome.
Somatostatin analogs have been commercially available for more than three decades. Earlier, the market for somatostatin analogs was dominated by a couple of players including Novartis, and Ipsen. However, the scenario has changed in last few years as the demand for these drugs is increasing. As a result, the number of players is getting involved in the development of generic somatostatin analogs as well as the novel drugs.
Somatostatin Analogs Market Influencer
The increasing R&D activity in the somatostatin analogs for the development of novel drugs is the major factor instrumental in the growth of the somatostatin analogs Market.
Potential Entrant in the Somatostatin Analogs Market
|Market Size||2025: 8,640 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Types, By Application and By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Novartis AG (Switzerland), Ipsen Pharma (France), Fresenius Kabi (Germany), Peptron (South Korea), Pfizer Inc. (US), Teva Pharmaceuticals Inc. (Israel)|
|Key Market Opportunities||The increasing R&D activity in the somatostatin analogs for the development of novel drugs is the major factor instrumental in the growth|
|Key Market Drivers||
somatostatin analogs market is projected to grow at approximately 6.8% CAGR during the assessment period (2019-2025).
somatostatin analogs market is estimated to reach a valuation of approx. USD 8,640 MN by the end of 2025.
Increasing R&D activities by the increasing numbers of players involved in the development of generic versions of somatostatin analogs are major tailwinds pushing the growth of the global somatostatin analogs market.
North America holds the largest share in the global Somatostatin analogs market, followed by Europe and the Asia Pacific, respectively.
Ipsen Pharma (France), Teva Pharmaceuticals Inc. (Israel), Novartis AG (Switzerland), Pfizer Inc. (US), Peptron (South Korea), and Fresenius Kabi (Germany), are some of the top players operating in the global somatostatin analogs market.