The octreotide market is expected to grow at a strong CAGR from 2022 to 2029, according to forecasts. The octreotide market study contains analysis and insights into a variety of factors that are expected to be significant over the estimated period, as well as their implications for market growth.
Covid-19 Impa1ct & Market Status
- In the projected period, the COVID-19 outbreak is expected to have a minor influence on the market. Research and development operations to determine the danger of the SARS-CoV-2 virus on the patients who are suffering are anticipated to restrict market growth.
- COVID-19 has wreaked havoc on the healthcare business around the world, causing delays in the treatment of non-communicable diseases.
The global demand for octreotide is being driven by an increase in the number of people diagnosed with cancer. Cancer will be diagnosed in 14.1 million individuals by 2021, according to estimates. According to forecasts, cancer would impact over 24 million people by 2029. According to these forecasts, demand for therapeutic drugs such as octreotide will rise. More than 2200 children are anticipated to die each day from severe diarrhoea, which is more than malaria, Aids, and measles combined. It's vital to address these worldwide problems by giving ill people the right octreotide drugs. Octreotide demand will skyrocket as a result of its application in radiolabelling.
The increased popularity of generic drugs may have an effect on the use of branded pharmaceuticals. Generic drug availability is expected to expand as a result of the cost factor, which will have an influence on the pharmaceutical industry as a whole if it is not reorganized to satisfy market and consumer demands. A notable restraining factor for the Octreotide Market is the lack of research on Octreotide for the treatment of pregnant, children, and nursing women. The usage of Octreotide is based on the examination of risk factors that may impact Octreotide use.
Octreotide market also offers in-depth market analysis for patient evaluation, prognosis, and remedies. The report includes data on prevalence, incidence, mortality, and adherence rates, among other things. To construct a more robust and comprehensive multivariate statistical model for projecting the octreotide market in the growth period, direct or indirect effect analyses of epidemiology octreotide market growth are examined.
Octreotide is a medication used to treat severe watery diarrhoea and rapid facial and neck reddening induced by specific kinds of bowel and pancreatic cancers. When these tumors produce too much of certain natural substances, symptoms appear (hormones).
The octreotide market is likely to grow at a rapid rate from 2022 to 2029, according to forecasts. The octreotide market research analyzes and gives insights into a variety of factors that are expected to be prominent throughout the estimated period, as well as their implications for market growth. By 2029, it is predicted that the global octreotide market is likely to be worth 7 million.
Octreotide is a hormone that can also be used to treat cancer. It's a long-acting injectable used to treat carcinoid and acromegaly tumors in adults, and it goes by the brand name Sand statin. The octapeptide drug class is also known as the octreotide drug class. This drug is also used to treat severe acute facial reddening and watery diarrhoea. This drug works by blocking the production of hormones in the body.
Due to increased research and development activities targeted at producing efficient and cost-effective medicines as well as the launch of new pharmaceuticals, the octreotide market is predicted to grow rapidly. Furthermore, a key market driver is the rising occurrence of diarrhoea and associated illnesses. However, a lack of information may stifle the octreotide market's expansion in the forecast period of 2029.
New recent developments, impact of global and domestic market players, import export analysis, value chain optimization, market share, changes in market regulations, strategic market growth analysis, market size, and category market analysis are all covered in this global octreotide market report. Market expansions, application niches and dominance, product approvals, product launches, regional expansions, and technical advances are all examples of this.
Novartis pharmaceuticals corp., Bedford laboratories div ben venue laboratories Inc., App pharmaceuticals llc, Sun pharmaceutical industries ltd., Teva parenteral medicines Inc., Sinopharm A-THINK Pharmaceutical Co., Ltd., Neiss Labs Pvt. Ltd., J.B. Chemicals and Pharmaceuticals Ltd., Samarth Pharma Pvt. Ltd.,and others are some of the Octreotide manufacturers.
Major Developments in Octreotide market: a Snapshot
• In April 2022, Amryt will announce favorable long-term safety and effectiveness findings from the OPTIMAL Open Label Extension Study in Acromegaly Patients for Mycapssa (oral octreotide). Individuals with acromegaly were administered Mycapssa® for a maximum of 3.2 years in the OPTIMAL Phase 3 Trial, including the OLE (open label extension).
• According to Chiasma, Inc., a commercial stage biopharmaceutical company, the US FDA has approved MYCAPSSA capsules for long-term maintenance therapy in acromegaly patients who have responded to and tolerated treatment with lanreotide or octreotide.
Octreotide Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||24 million|
|Segment Covered||Application, End User, Regions|
|Regions Covered||North America, Europe, MEA, APAC, Latin America|
|Key Players Profiled||The top companies that hold the market share in octreotide market are Novartis pharmaceuticals corp., Bedford laboratories div ben venue laboratories Inc., App pharmaceuticals llc, Sun pharmaceutical industries ltd., Teva parenteral medicines Inc., Sinopharm A-THINK Pharmaceutical Co., Ltd., Neiss Labs Pvt. Ltd.|
Key Segments of the Octreotide market
Application Overview, 2022-2029 (USD MILLION)
- octreotide acetate
- octreotide hydrochloride
- octreotide chloride
- indium In-111; octreotide
End User Overview, 2022-2029 (USD MILLION)
- Clinical Research
Regional Overview, 2022-2029 (USD MILLION)
- North America
- Rest of Europe
- Kingdom of Saudi Arabia (KSA)
- South Africa
- United Arab Emirates (UAE)
- Rest of MEA
- Australia and New Zealand (ANZ)
- Rest of APAC
- Latin America
- Rest of Latin America