Global Somatostatin Analogs Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at a CAGR of 7.3% from 2020 to 2027, reaching nearly US$ XX Bn.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of Market leaders, Market followers, and Market disrupters in the report, and the same is reflected in our analysis.
Global Somatostatin Analogs Market Definition:
Somatostatin Analogs are the artificial version of Somatostatin that helps control the excessive secretion of hormones, especially the growth hormone and serotonin in the human body. It is commonly used to treat Neuroendocrine Tumors (NETs) and Acromegaly, a rare hormonal disorder, and other such hormonal disorders.
Global Somatostatin Analogs Market Dynamics:
An increase in the R&D activities in the Somatostatin analogs market is having a positive impact on market growth. A number of studies are being conducted for further research and advancement in the already existing drug molecules. The number of patients diagnosed with Neuroendocrine Tumors (NETs) is increasing each year. This creates a demand to develop improved treatments ultimately resulting in the market growth. World Alliance of Pituitary Organizations (WAPO) has launched a global awareness campaign to increase awareness about Acromegaly and the role of Somatostatin analogs in its treatment. The participation of some major market players gives a further boost to the market.
Global Somatostatin Analogs Market Segmentation:
The report covers the segments in the Somatostatin Analogs Market such as type and treatment. Based on type, the market size of Octreotide was valued at USD 5.7 Billion in 2019 and is expected to grow at a CAGR of XX% over the forecast period. It was the first and foremost type of Somatostatin analog and is mostly used to treat hormonal disorders. Pasireotide market is anticipated to be the fastest-growing given the fact that awareness regarding Cushing’s syndrome is increasing and hence is the treatment.
Global Somatostatin Analogs Market Region-wise Analysis:
North America Somatostatin Analogs Market was valued at US$ XX Mn. in 2019 and is expected to reach a value of US$ XX Mn. by 2027, with a CAGR of XX% during the forecast period. The region will retain its market dominance in the future because of the increased awareness and expenditure on healthcare. The emergence of new companies and the development of improved drugs have also contributed to the market growth in North America.
Global Somatostatin Analogs Market Country-wise Analysis:
The rise in spending for healthcare and many new cases registered by the US, Canada, and many Southeast Asian countries has led to an increase in the demand for the Somatostatin Analogs market. The Market in the APAC is projected to register comparatively faster growth in terms of revenue in the future.
Global Somatostatin Analogs Market Competitive Landscape:
The competitive landscape section in the Somatostatin Analogs Market offers a deep dive into the profiles of the leading players operating in the global market landscape. It offers captivating insights on the key developments, differential strategies, and other crucial aspects of the companies having a stronghold in the Somatostatin Analogs Market. In 2014, Pasireotide experienced the highest sales for treating acromegaly. Now it is under phase II clinical trials for advanced/metastatic hepatocellular carcinoma.
The objective of the report is to present a comprehensive analysis of the Global Somatostatin Analogs Market including all the stakeholders of the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes Market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Somatostatin Analogs Market dynamics, structure by analyzing the Market segments and projects the Global Somatostatin Analogs Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Somatostatin Analogs Market make the report investor’s guide.
Scope of the Global Somatostatin Analogs Market: Inquire before buying
Global Somatostatin Analogs Market, by Type
Global Somatostatin Analogs Market, Treatment
• Neuroendocrine Tumor (NET)
• Carcinoid Syndrome
• Cushing’s Syndrome
Global Somatostatin Analogs Market, By Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Key players operating in Global Somatostatin Analogs Market
• Novartis AG
• Sun Pharmaceutical Industries Ltd
• Midatech Pharma PLC
• Ipsen Pharma
• Chiasma, Inc.
• Peptron, Inc.
• Crinetics Pharmaceuticals
• Dauntless Pharmaceuticals
• Camurus AB
• Teva Pharmaceuticals Inc.
• Pfizer Inc
• Fresenius Kabi
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