The global somatostatin analogue drug market is anticipated to showcase considerable growth during the forecast period (2020-2026). The rising FDA approvals, advancement in new treatment therapies, and new product launches are some of the key factors contributing to the growth of the hormone therapy replacement therapy market across the globe. According to the American Cancer Society, there are around 5,000 new carcinoid tumors diagnosed in the US each year. According to the National Center for Biotechnology Information, 1 million cases of neuroendocrine tumors (NET) occur every year across the globe which is expected to get increased in the future due to the high adoption of sedentary lifestyles. The NET is found to have low incidence and high prevalence, the high prevalence of NET. The rapid diagnosis of the NET disorder enhances the adoption rate of the drugs for the treatment of the disease, thereby promoting the growth of the somatostatin analogue drug market across the globe.
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Camurus AB, Chiasma, Inc., Ipsen Group, Boehringer Ingelheim International GmbH, Eli Lilly & Co., F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., Tarveda Therapeutics Inc., Teva Pharmaceutical Industries Ltd., and so on are the prominent players operating in the somatostatin analog drug across the globe. The major players of the somatostatin analogue drug market are making hefty investments in the R&D of new drugs. The continuous efforts of the market players in the development of new drugs are anticipated to make a major contribution to the growth of the somatostatin analogue drug market across the globe.
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Global Somatostatin Analogue Drug Market Segmentation
Type
- Octreotide
- Lanreotide
- Pasireotide
Indication
- Neuroendocrine Tumor (NET)
- Acromegaly
- Others
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