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 : August, 2020 | Pharmaceutical | PPT format

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.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.