The global Somatuline Market is estimated to grow at a significant CAGR during the forecast period. Somatuline is used to treat a condition called acromegaly that occurs when the body makes too much of a certain natural substance called growth hormone. It is used when surgery or radiation treatment have not been fully successful or cannot be used. Treating acromegaly helps reduce the risk of serious problems such as diabetes and heart disease. Somatuline is a long-acting form of lanreotide.
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The high prevalence of acromegaly combined with the increased public awareness of how to treat this rare condition is expected to boost the global Somatulin market. Several government agencies in the USA, such as the National Center for Translational Advancing Science (NCATS) and the NIH, provide inexpensive medicines for treating rare diseases such as acromegaly. The high prevalence of neuroendocrine tumours around the world will significantly contribute to the high market share. The increased use of octreotide medicines to treat neuroendocrine tumours is also expected to significantly contribute to the increase in the market.
The FDA has approved a new device for the supply of Somatulin depot to Ipsen Biopharmaceuticals, Inc., an affiliate to Ipse (lanreotide) in 2019. The system has an enhanced, pre-filled, voluminous syringe that supports full dose supply without any requirements for reconstitution. Furthermore, the long-acting release of Novartis drug Signifor for EU approval for patients with rare hormone disorder acromegaly was recommended to the Committee for Medicinal Products for Human use (CHMP) in 2019. For the treatments of adult patients with acromegaly for whom surgery was not an option or not curative and whose treatment with the first-genera somatostatin analogue is not sufficiently controlled, a positive opinion was adopted by the European Medicine Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) for Signifor, a long-acting release formulation.
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., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 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 Somatuline Drug Market by Segments
By Type
- 60 mg
- 90 mg
- 120 mg
By application
- Hospital
- Pharmacy
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
