Somatostatin Analogs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Somatostatin Analogs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : May, 2021 | Pharmaceutical

Report Digest

Global Somatostatin Analogs Market: Overview

The somatostatin analogs market has evolved steadily from the commercial synthesis of hundreds of analogues with more selective and prolonged action in antitumor activity. Somatostatin analogs block the hormones produced by their tumor and hence show clinical therapeutic effect in the treatment of a range of diseases caused by numerous tumors. Clinicians have been harnessing potential of these analogs in treating range of diseases caused by endocrine pancreatic tumors, ectopic tumors, vasoactive intestinal peptide (VIP)-producing tumors, and growth hormone secreting adenoma. A few randomized trials have also established their efficacy in slowing down the progression of various diseases.

Two of the key long-term acting products in the somatostatin analogs market are octreotide and lanreotide. Most prominently and recently, researchers have using the synthetic analogs for managing neuroendocrine tumors, where they utilize the analogs for their anti-angiogenic, apoptotic, and anti-proliferative properties.

Global Somatostatin Analogs Market: Growth Dynamics

Clinical avenues for the application of somatostatin analogs are expanding, with researchers able to prolong the activity and therapeutic efficacy of the analogs. The potential of the somatostatin analogs market has no doubt expanded on the back the growing body of research. Over the past 10 years, these analogs have emerged out as especially promising for the treatment of rare tumors. A case in point is gastroenteropancreatic neuroendocrine tumors. GEP NETs are hard to diagnose and harder to treat. Particularly, the somatostatin analogs market has seen a new application avenue in somatostatin analogue-based imaging methods.

Growing research in endocrine pharmacology has helped the healthcare industry understand the antitumor activity of these analogs, and has underpinned the evolution of the somatostatin analogs market. Advancement in the molecular biology of polymerase chain reaction and growing understanding of immunohistochemistry of rare tumors have engendered sizable investments in the somatostatin analogs market.  Growing adoption of drugs based on long-acting somatostatin analogues is boosting the prospects for pharmaceuticals in the somatostatin analogs market. Growing investments in developed economies for the treatment of novel drug therapies are bolstering the prospects. Further, government healthcare organizations in developed regions have also made policies for subsidizing the treatment for rare diseases.

Global Somatostatin Analogs Market: Notable Developments

Taking somatostatin analogs at higher doses may be harmful, but may be the only option for some rare diseases. Recent clinical trials in Europe has flagged this for the treatment of GEP NETs. This might pave way for a lucrative avenue for pharmaceuticals in the somatostatin analogs market.

Researchers at a multicenter study tried to find whether somatostatin analogs administered at higher dosage than the conventional for patients with metastatic NETs had beneficial effects on disease progression. The study was retrospective in nature. The study looked at all clinical data in 13 Italian centers from 2004 to 2017. Each individual in the cohort of 140 patients had either gastrointestinal NET or pancreatic NET. The histological classification was based on the WHO guidelines.

The researchers concluded that using high-dose of commercially available somatostatin analogs as second-line of therapy improved progression-free survival. Delaying the treatment could lead to tumor progression or even death, concluded the investigators. Such studies have helped to understand the biochemical effects of analogues better, thus opening new clinical avenues for the commercialization in the somatostatin analogs market.

Some of the key players operating in the somatostatin analogs market are

  • Novartis AG
  • Ipsen Pharma
  • Peptron
  • Camarus AB
  • Teva Pharmaceuticals Inc.

Global Somatostatin Analogs Market: Regional Assessment

The somatostatin analogs market is seeing substantial prospects in the regions of Latin America, Asia Pacific, the Middle East and Africa, Europe, and North America. Of these, the avenues are incredibly attractive in North America and Europe. North America especially the U.S. has seen a wide array of clinical studies to understand and improve the therapeutic potential of somatostatin analogs in antitumor activity. Europe is witnessing surge in investments in novel drug therapies for hormonal-imbalance diseases. Further, Asia Pacific is likely to emerge as a promising region for pharmaceuticals in the global somatostatin analogs market.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?