Global Octreotide Market – Industry Trends and Forecast to 2030

Octreotide Market Analysis and Size

Growing incidence of disease such as acromegaly and cancer, is anticipated to surge the demand for octreotide drugs, which in turn is expected to drive the market growth. The demand is greatly increased by increasing number of people under the diagnosis of cancer. In 2021, 1,898,160 new cancer cases and 608,570 cancer deaths are projected to occur in the U.S. The growing popularity of generic drugs might affect the consumption of branded drugs.

Data Bridge Market Research analyses a growth rate in the octreotide market in the forecast period 2023-2030. The expected CAGR of octreotide market is tend to be around 3% in the mentioned forecast period. The market was valued at USD 3 billion in 2022, and it would grow upto USD 3.80 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Octreotide Market Scope and Segmentation

Market Definition

Octreotide is a type of hormone drug which is used to treat some types of cancer. It is sold under the brand name Sandostatin among others and is a long-acting injection used to control acromegaly and carcinoid tumours in people. This class of medications is also known as octapeptides. This medication is also used to treat extreme watery diarrhoea and sudden reddening of the face. This medication works by hindering the production of natural substances hormones.  

Octreotide Market Dynamics

Drivers

• Increasing Pipeline of Drugs

The robust pipeline of drugs in clinical trials is expected to boost the market growth. For instance, in 2016, Mario Negri Institute for pharmacological research completed phase 2 clinical trials of its Octreotide LAR along with tolvaptan drug used for the treatment of autosomal dominant polycystic kidney disease. Octreotide sponsored by Radbound University is in phase 3 clinical trials from 2016. This drug is under clinical trial for the treatment of vascular malformations, angiodysplasia, gastrointestinal hemorrhage, and anemia with octreotide. Injection Octreotide, which is sponsored by PVS memorial hospital is in phase 4 clinical trials since 2016. This injection is precisely used for treatment of pancreatic fistula and complications of pancreatoduodenectomy among patients with soft pancreas. Moreover, CAM2029 is being tested, that is currently in phase 2, for acromegaly and neuroendocrine tumors by Camurus AB in collaboration with Novartis AG. Octreotide chloride is the active ingredient for this product.

Opportunities

• Growing Drug Launches

A growing number of launches relating to novel Octreotide acetate products by major market players is anticipated to drive market growth. For instance, in 2013, Sagent Pharmaceuticals, which is a U.S.-based biopharmaceutical company, launched its new drug Octreotide acetate, a samatostatin analog. This drug is used to decrease blood levels of IGF-I and growth hormone in acromegaly patients who do not sufficiently respond to or who cannot be treated by surgery, irradiation and bromocriptine mesylate.

• Increasing Rates of Cancer

The global demand for octreotide is boosted by increasing number of people under the diagnosis of cancer. In 2012, there were projected 14.1 million cases of cancer .It is expected that by 2035, the number of people surviving from cancer will be about 24 million. These estimate shows that the demand for treatment drugs such as octreotide will grow. It is estimated that about 2200 children die every day because of severe diarrhea, more than Aids, malaria and measles combined.

 Restraints/Challenges

• High Cost of Treatment

The enormous expenditure associated with the treatment of octreotide impede the market growth. The treatment becomes quite unaffordable in middle-income countries, thus, in a way limiting the market growth.

This octreotide market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the octreotide market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth

Global Octreotide Market Scope

The octreotide market is segmented on the basis of type, form, indications, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• octreotide acetate
• octreotide
• octreotide chloride
• octreotide hydrochloride
• indium In-111; octreotide

Form

• Injection
• Powder
• Microspheres

Indications

• Diarrhoea
• Acromegaly
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Octreotide Market Regional Analysis/Insights

The octreotide market is analyzed and market size insights and trends are provided by type, form, indications, distribution channel and end-user as referenced above.

The major countries covered in the octreotide market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific has been witnessing a positive growth for octreotide market throughout the forecasted period due to increased new research and developments on octreotide market.  

North America dominates the market due to the presence of key manufacturers of the product is high and, increasing research and development activities.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Octreotide Market Share Analysis

The octreotide market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to octreotide market.

Key players operating in the octreotide market include:

• Novartis AG (Switzerland)
• Sun Pharmaceutical Industries Ltd. (India)
• China National Pharmaceutical Group Corporation (China)
• Sihuan Pharmaceutical Holdings Group Ltd (China)
• Shanghai Soho-Yiming Pharmaceuticals Co.,Ltd. (China)
• JB Pharma (India)
• Samarth Life Sciences Pvt. Ltd. (India)

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