The global Pasireotide drugs market is estimated to grow at a significant CAGR during the forecast period. Pasireotide is used for the treatment of a certain condition (acromegaly) occurring when the body produces too much of a particular natural substance called growth hormone. Acromegaly treatment helps to reduce the risk of severe problems such as diabetes and cardiac disease. Pasireotide works by reducing the growth hormone produced in the body. Pasireotide is also used for the treatment of a specific condition (Cushing’s disease) when surgery is not successful or cannot be used to correct the condition.
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Increasing public awareness of how to address this rare disease, combined with a high prevalence of acromegaly, is likely to boost demand for Pasireoside for treatment, and this will propel the global Pasireotide market. Several U.S. agencies, such as the National Centre for Advancing Translational Sciences (NCATS) and the National Institutes of Health (NIH), supply inexpensive medications for rare disorders such as acromegaly. According to the national science centre in January 2021, the number of rare diseases in the world is estimated at 6000 to 8000, with new and unusually occurring diseases being regularly described in the medical literature. However, 80% of all people with rare illnesses were affected by around 350 rare diseases.
Some major market players include Hoffmann La Roche, Ltd., International GmbH., Boehringer Ingelheim., Novartis AG., and Ipsen Group, among other. In June 2020, Chiasma received FDA approvals for MYCAPSSA in patients who have responded to acromegaly and have tolerated treatment with octreotide or lanreotide for long-term maintenance therapy. For commercial purposes, MYCAPSSA is the first and only analogue oral somatostatin approved by the FDA. The FDA approved Mycapssa as an oral version of somatostatin analogues, a group of injecting a drug that slows growth hormone overproduction that leads to serious complications in acromegaly patients. Every year, there are about 8,000 U.S. patients treated with analogue somatostatin.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segments Covered
- By Type
- By Application
Regions Covered
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Hoffmann La Roche, Ltd., International GmbH., Boehringer Ingelheim., Novartis AG., and Ipsen Group.
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
