The report is titled as ‘Somatostatin Analogs Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the somatostatin analogs market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Somatostatin Analogs market is expected to grow with significant rate in the near future.
The global somatostatin analogs market in 2020 is estimated for more than US$ 6.0 Bn and expected to reach a value of US$ 10.1 Bn by 2028 with a significant CAGR of 6.6%.
Somatostatin Analogs Market Definition
A somatostatin analog is an artificial synthetic form of somatostatin, which can be defined as the drugs that curb the enormous hormone discharge in the body. Tumors such as Acromegaly and Neuroendocrine Tumors (NETs), which is a unique hormonal disorder, yield huge amounts of hormones in the body, and somatostatin analogs are a potential treatment for the disorder. Owing to which, the somatostatin analogs market is expected to flourish in the near future.
Basically, somatostatin analogs inhibit or slow down the number of hormones produced in the body such as gut and insulin hormones as well as assists in clearing away the intestine and stomach. In addition, it helps in minimizing the further growth of hormones in the body thus aid in controlling symptoms of carcinoid syndrome such as flushing of the skin and diarrhea. Owing to such numerous benefits, the somatostatin analogs observe huge demand in the healthcare industry across the world.
Somatostatin analogs have the potential to treat some of the other common tumors such as glucagonomas, carcinoid tumors, GH-secreting tumors, and VIPomas. Apart from that, somatostatin analogs are also used to treat Cushing's syndrome. Therefore, the somatostatin analogs market is projected to observe a significant growth in the near future.
Somatostatin Analogs Market Dynamics
The constant research and development activities in the healthcare industry have elevated the usage of already existing drug molecules, as well as the major companies and governments across the world is also providing abundant research investment and funding for the R&D activities which is positively fueling the growth of the global somatostatin analogs market. Along with that, there are numerous key players who are involved in the development of somatostatin analogs, which is also supporting the growth of the global somatostatin analogs market.
In addition to that, as per the estimates, there are more than 12000 patients, in the U.S., who are diagnosed with neuroendocrine tumors (NETs) every year and as of 2019, around 170,000 people are living with the disease. Thus, the growing incidence of the disease among the population is further creating the demand for somatostatin analogs across the world, thereby the global somatostatin analogs market is estimated to grow rapidly in the near future.
Apart from that, several initiatives are taken in order to elevate awareness among the population with regard to disorders such as Acromegaly, especially in emerging regions, and quicken the diagnosis of the disorder. Attributing to which, the global somatostatin analogs market is projected to observe substantial growth in the coming years.
Somatostatin Analogs Market Key Players
Some of the key participating players in the somatostatin analogs market are
Novartis AG
Peptron
Chaisma, Inc.
Ipsen Biopharmaceuticals, Inc.
Sun Pharma Advanced Research Company Ltd.
Somatostatin Analogs Market Segmentation
The somatostatin analogs market is segmented on the basis of the analog type, indication, and region.
By Product Type
Octreotide
Lanreotide
Pasireotide
By Indication
Neuroendocrine Tumor (NET)
Acromegaly
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
MMC Overview on Somatostatin Analogs Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.
A research report on the Somatostatin Analogs market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth include (but not restricted to):
• New product designs and launches
• Current product compliance
• Reimbursement
• Concerns for use of Somatostatin Analogs
• Advantages of Somatostatin Analogs
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make an informed decision.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
1. Global Somatostatin Analogs Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Somatostatin Analogs Market Overview
2.1. Introduction
2.1.1. Market Definition
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Somatostatin Analogs Market Snapshot
2.4. Global Somatostatin Analogs Market Size and Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast and Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Somatostatin Analogs Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Key Regulations
2.7. Porter’s Five Forces Model
3. Global Somatostatin Analogs Market, By Product Type
3.1. Introduction
3.1.1. Annual Growth Rate Comparison, By Product Type
3.1.2. BPS Analysis, By Product Type
3.2. Market Revenue (US$Mn) Forecast, By Product Type
3.2.1. Octreotide
3.2.2. Lanreotide
3.2.3. Pasireotide
3.3. Global Somatostatin Analogs Market Attractiveness Index, By Product Type
4. Global Somatostatin Analogs Market, By Indication
4.1. Introduction
4.1.1. Annual Growth Rate Comparison, By Indication
4.1.2. BPS Analysis, By Indication
4.2. Market Revenue (US$Mn) Forecast, By Indication
4.2.1. Neuroendocrine Tumor (NET)
4.2.2. Acromegaly
4.3. Global Somatostatin Analogs Market Attractiveness Index, By Indication
5. Global Somatostatin Analogs Market, By Region
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Region
5.1.2. BPS Analysis, By Region
5.2. Market Revenue (US$Mn) Forecast, By Region
5.2.1. North America
5.2.2. Latin America
5.2.3. Europe
5.2.4. Asia Pacific
5.2.5. Middle East
5.2.6. Africa
5.3. Global Somatostatin Analogs Market Attractiveness Index, By Region
6. North America Somatostatin Analogs Market Analysis and Forecast, 2020–2028
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Country
6.1.2. BPS Analysis, By Country
6.2. Market Revenue (US$Mn) Forecast, By Country
6.2.1. U.S. Somatostatin Analogs Market
6.2.2. Canada Somatostatin Analogs Market
6.3. North America Somatostatin Analogs Market, By Product Type
6.3.1. Octreotide
6.3.2. Lanreotide
6.3.3. Pasireotide
6.4. North America Somatostatin Analogs Market, By Indication
6.4.1. Neuroendocrine Tumor (NET)
6.4.2. Acromegaly
6.5. North America Somatostatin Analogs Market Attractiveness Index
6.5.1. By Country
6.5.2. By Product Type
6.5.3. By Indication
7. Latin America Somatostatin Analogs Market Analysis and Forecast, 2020–2028
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Country
7.1.2. BPS Analysis, By Country
7.2. Market (US$Mn) Forecast, By Country
7.2.1. Brazil Somatostatin Analogs Market
7.2.2. Mexico Somatostatin Analogs Market
7.2.3. Argentina Somatostatin Analogs Market
7.2.4. Rest of Latin America Somatostatin Analogs Market
7.3. Latin America Somatostatin Analogs Market, By Product Type
7.3.1. Octreotide
7.3.2. Lanreotide
7.3.3. Pasireotide
7.4. Latin America Somatostatin Analogs Market, By Indication
7.4.1. Neuroendocrine Tumor (NET)
7.4.2. Acromegaly
7.5. Latin America Somatostatin Analogs Market Attractiveness Index
7.5.1. By Country
7.5.2. By Product Type
7.5.3. By Indication
8. Europe Somatostatin Analogs Market Analysis and Forecast, 2020–2028
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Country
8.1.2. BPS Analysis, By Country
8.2. Market (US$Mn) Forecast, By Country
8.2.1. U.K. Somatostatin Analogs Market
8.2.2. Germany Somatostatin Analogs Market
8.2.3. Italy Somatostatin Analogs Market
8.2.4. France Somatostatin Analogs Market
8.2.5. Spain Somatostatin Analogs Market
8.2.6. Russia Somatostatin Analogs Market
8.2.7. Poland Somatostatin Analogs Market
8.2.8. BENELUX Somatostatin Analogs Market
8.2.9. NORDIC Somatostatin Analogs Market
8.2.10. Rest of Europe Somatostatin Analogs Market
8.3. Europe Somatostatin Analogs Market, By Product Type
8.3.1. Octreotide
8.3.2. Lanreotide
8.3.3. Pasireotide
8.4. Europe Somatostatin Analogs Market, By Indication
8.4.1. Neuroendocrine Tumor (NET)
8.4.2. Acromegaly
8.5. Europe Somatostatin Analogs Market Attractiveness Index
8.5.1. By Country
8.5.2. By Product Type
8.5.3. By Indication
9. Asia Pacific Somatostatin Analogs Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market (US$Mn) Forecast, By Country
9.2.1. China Somatostatin Analogs Market
9.2.2. India Somatostatin Analogs Market
9.2.3. Japan Somatostatin Analogs Market
9.2.4. Australia and New Zealand Somatostatin Analogs Market
9.2.5. South Korea Somatostatin Analogs Market
9.2.6. ASEAN Somatostatin Analogs Market
9.2.7. Rest of Asia Pacific Somatostatin Analogs Market
9.3. Asia Pacific Somatostatin Analogs Market, By Product Type
9.3.1. Octreotide
9.3.2. Lanreotide
9.3.3. Pasireotide
9.4. Asia Pacific Somatostatin Analogs Market, By Indication
9.4.1. Neuroendocrine Tumor (NET)
9.4.2. Acromegaly
9.5. Asia Pacific Somatostatin Analogs Market Attractiveness Index
9.5.1. By Country
9.5.2. By Product Type
9.5.3. By Indication
10. Middle East Somatostatin Analogs Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. GCC Countries Somatostatin Analogs Market
10.2.2. Israel Somatostatin Analogs Market
10.2.3. Oman Somatostatin Analogs Market
10.2.4. Rest of Middle East Somatostatin Analogs Market
10.3. Middle East Somatostatin Analogs Market, By Product Type
10.3.1. Octreotide
10.3.2. Lanreotide
10.3.3. Pasireotide
10.4. Middle East Somatostatin Analogs Market, By Indication
10.4.1. Neuroendocrine Tumor (NET)
10.4.2. Acromegaly
10.5. Middle East Somatostatin Analogs Market Attractiveness Index
10.5.1. By Country
10.5.2. By Product Type
10.5.3. By Indication
11. Africa Somatostatin Analogs Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. South Africa Somatostatin Analogs Market
11.2.2. Egypt Somatostatin Analogs Market
11.2.3. North Africa Somatostatin Analogs Market
11.2.4. Rest of Africa Somatostatin Analogs Market
11.3. Africa Somatostatin Analogs Market, By Product Type
11.3.1. Octreotide
11.3.2. Lanreotide
11.3.3. Pasireotide
11.4. Africa Somatostatin Analogs Market, By Indication
11.4.1. Neuroendocrine Tumor (NET)
11.4.2. Acromegaly
11.5. Africa Somatostatin Analogs Market Attractiveness Index
11.5.1. By Country
11.5.2. By Product Type
11.5.3. By Indication
12. Recommendation
12.1. Market Strategy
13. Competitive Landscape
13.1. Competition Dashboard
13.2. List and Company Overview of Global Key Players
13.3. Company Profiles
13.3.1. Novartis AG
13.3.1.1. Company Overview
13.3.1.2. Financial Overview
13.3.1.3. Product Type Portfolio
13.3.1.4. Key Developments
13.3.1.5. Business Strategies
13.3.2. Peptron
13.3.3. Chaisma, Inc.
13.3.4. Ipsen Biopharmaceuticals, Inc.
13.3.5. Sun Pharma Advanced Research Company Ltd.
13.3.6. Others
14. Acronyms
Frequently Asked Questions
What is the projected market size & Compound Annual Growth Rate (CAGR) of the market?
The global somatostatin analogs market in 2020 is estimated for more than US$ 6.0 Bn and expected to reach a value of US$ 10.1 Bn by 2028 with a significant CAGR of 6.6%.
What are the key factors driving the growth of market?
The constant research and development activities in the healthcare industry have elevated the usage of already existing drug molecules, as well as the major companies and governments across the world is also providing abundant research investment and funding for the R&D activities which is positively fueling the growth of the global somatostatin analogs market. Along with that, there are numerous key players who are involved in the development of somatostatin analogs, which is also supporting the growth of the global somatostatin analogs market.
What segments are covered in market report?
The somatostatin analogs market is segmented on the basis of the analog type, indication, and region.
What are the key participating players in the market?
Some of the key participating players in the somatostatin analogs market are Novartis AG, Peptron, Chaisma, Inc., Ipsen Biopharmaceuticals, Inc., and Sun Pharma Advanced Research Company Ltd.
