The global Sandostatin LAR market is expected to grow at a significant CAGR during the forecast period (2021-2027). This medicine contains octreotide in a long-acting version. Octreotide is used to treat severe watery diarrhoea and abrupt reddening of the face and neck caused by specific types of tumours located in the intestines and pancreas. When these tumours produce too much of certain natural chemicals, symptoms appear (hormones). This medicine acts by preventing these hormones from being produced. Octreotide helps to prevent the loss of bodily fluids and minerals by reducing watery diarrhoea.
Octreotide is also used to treat a disease known as acromegaly that is caused by the body producing too much of a natural chemical known as growth hormone. Acromegaly treatment lowers the chance of severe issues including diabetes and heart disease. Octreotide reduces the quantity of growth hormone in the body to normal levels.
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The use of Sandostatin in Carcinoid Syndrome is a driving factor for the market. According to the National Center for Biotechnology Information, The prevalence of Carcinoid Syndrome due to Neuroendocrine Tumours was 10.8 % in 2000 that has significantly risen to 18.6% in 2011. Thus, this rise in prevalence will provide an opportunity for the growth of the global Sandostation LAR market during the forecast period.
Novartis got FDA approval for Sandostatin in 1998. On January 28, 2020, the FDA approved Sun Pharmaceutical’s Bynfezia (octreotide acetate) pen, for the treatment of adult patients with severe diarrhoea and flushing episodes associated with metastatic carcinoid tumours, vasoactive intestinal peptide-secreting tumours (VIPomas) and acromegaly. Thus, the complex manufacturing process of Sandostatin prevents more generic versions of the drug to enter the market and thereby driving the market growth.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Type
- By Application
- Competitive Landscape: Novartis, Bachem AG, AmbioPharm, ChemWerth Inc., Tecoland Corporation, Century Pharmaceuticals, CBL- Chemical and Biopharmaceutical.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from pre-COVID forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Sandostatin LAR Market by Segments
By Type
- 500mcg
- 1000mcg
By Application
- Acromegaly
- Tumours
- Bleeding Oesophageal Varices
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
