Global Somatostatin Analogs Market Size To Worth USD 13.66 Billion by 2033 | CAGR of 6.22%
Category: HealthcareGlobal Somatostatin Analogs Market Size To Worth USD 13.66 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Somatostatin Analogs Market Size is Expected to Grow from USD 7.47 Billion in 2023 to USD 13.66 Billion by 2033, at a CAGR of 6.22% during the forecast period 2023-2033.
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Browse key industry insights spread across 280 pages with 100 Market data tables and figures & charts from the report on the "Global Somatostatin Analogs Market Size, Share, and COVID-19 Impact Analysis, By Type (Lanreotide, Pasireotide, and Octreotide), By Application (Neuroendocrine Tumors, Acromegaly, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/somatostatin-analogs-market
The global somatostatin analogs market focuses on the development, production, and commercialization of somatostatin analogs used in managing somatotropinomas, thyrotrophinomas, acromegaly, and other abnormal medical conditions. Somatostatin is a cyclic polypeptide that suppresses the secretion of endocrine and exocrine hormones in humans. Native SST has a brief half-life of 1-3 minutes and is quickly broken down by peptidases. Synthetic analogs (SSAs) with extended half-lives have been created. Somatostatin analogues are medicines that stop the body from making too many hormones, which can help with symptoms caused by high hormone levels, slow down cancer growth, and potentially shrink tumor size. Known products include Octreotide, lanreotide, and pasireotide. The increasing prevalence of acromegaly has increased the need for somatostatin drugs, fueling market expansion. Acromegaly, a rare chronic disease caused by a sporadic GH-secreting pituitary adenoma, has a worldwide prevalence of 30-60 cases per million and an incidence of 2-3 cases per million per year. However, side effects and high costs may impede market growth.
The octreotide segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period.
Based on the type, the global somatostatin analogs market is categorized as lanreotide, pasireotide, and octreotide. Among these, the octreotide segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period. This is ascribed to minimizing the watery diarrhea caused by particular types of cancers, relieving the symptom derived from the gastrointestinal tract, prolonged therapeutic effect, and extensive usage of the octreotide in the management of thyrotrophinomas and acromegaly.
The acromegaly segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.
Based on the application, the global somatostatin analogs market is categorized as neuroendocrine tumors, acromegaly, and others. Among these, the acromegaly segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. This is driven by the tumors in the pituitary adenoma, excessive production of the growth hormone, and rising prevalence of acromegaly.
North America is expected to hold the greatest share of the global somatostatin analogs market over the forecast period.
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North America is expected to hold the greatest share of the global somatostatin analogs market over the forecast period. The North American market for somatostatin analogs is driven by factors such as the high prevalence of target conditions, sophisticated healthcare infrastructure, innovative drug delivery systems, robust R&D investments, supportive policies, and high patient and healthcare professional awareness. The market also expands therapeutic applications for diseases like gastrointestinal disorders and carcinoid syndrome, with high healthcare costs, patient-centric innovations, and cooperative research projects. Healthcare spending, individualized therapy, and favorable regulations like insurance coverage and government funding contribute to the market's growth.
Asia Pacific is predicted to grow at the fastest throughout the estimated period. The Asia-Pacific market for somatostatin analogs is expanding due to rising healthcare costs, target condition prevalence, patient and healthcare professional awareness, new markets, government programs, and technology developments. Countries like Thailand and India are emerging as medical tourism hotspots due to their affordable therapies. The middle class's growing disposable income allows more people to purchase sophisticated medical procedures. Local manufacturing and the aging population contribute to the market's growth, making somatostatin analogs more accessible and affordable.
Major key players in the global somatostatin analogs market are Midatech Pharma PLC, Chiasma Inc., Peptron Inc., Pfizer Inc., Ipsen Pharma, Sun Pharmaceutical Industries Ltd., Novartis AG, GlyTech, Teva Pharmaceuticals, Debiopharm, Camurus, Crinetics Pharmaceuticals, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In February 2025, Ariceum Therapeutics received the grant of Orphan Drug Designation (ODD) to AC-satoreotide by the U.S Food and Drug Administration. AC-satoreotide is a next-generation somatostatin receptor 2(SSTR2) inhibitor for the treatment of small lung cell lung cancer (SCLC) and Merkel cell carcinoma (MCC).
- In October 2024, Teva Pharmaceuticals launched the first and only generic version of Sandostatin 1 LAR Depot in the US. This medication is used to treat acromegaly and severe diarrhea for carcinoid syndrome. Octreotide acetate for injectable suspension is a prescription medication used in patients whose initial treatment with octreotide acetate injection has been effective.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global somatostatin analogs market based on the below-mentioned segments:
Global Somatostatin Analogs Market, By Type
- Lanreotide
- Pasireotide
- Octreotide
Global Somatostatin Analogs Market, By Application
- Neuroendocrine Tumors
- Acromegaly
- Others
Global Somatostatin Analogs Market, By Distribution Channel
- Retail Pharmacies
- Online Pharmacies
- Hospital Pharmacies
Global Somatostatin Analogs Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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