Global Somatostatin Analogs Market 2025 – 2034

Reports Description

In 2021, the global Somatostatin Analogs market was estimated at USD 5.8 billion and is projected to reach approximately USD 10 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2022 and 2030.

The report studies the Somatostatin Analogsmarket’s drivers and restraints, coupled with the impact they have on demand during the projection period. Additionally, the report analyzes global opportunities present in the somatostatin analogs market.

Somatostatin AnalogsMarket: Overview

A medication known as a somatostatin analogue lowers the body’s high hormone release. It is a somatostatin that has been synthesised artificially. Somatostatin analogues may be used to treat acromegaly and neuroendocrine tumours (NETs), a rare hormonal condition that causes the body to create excessive levels of hormones. The market for somatostatin analogues is therefore anticipated to grow rapidly in the next years.

Somatostatin Analogs Market: COVID–19 Impact Analysis

The COVID-19 outbreak is being addressed by pharmaceutical and biotech businesses working with governments from all over the world on everything from vaccine research to issues with the medication supply chain. There are now 155 compounds and about 115 vaccine candidates in the R&D pipeline. The need for regularly used medications, such as hydroxychloroquine, has also dramatically increased for COVID-19 therapy. There is a significant market opportunity for producers of COVID-19 management pharmaceuticals because supplies of these medications are running low in many wealthy nations. The demand for COVID-19 vaccines and treatment medications is expected to drive exponential growth in the pharmaceutical and biotechnology industries in the next years.

In 2020, the market for somatostatin analogues was already significantly impacted by the COVID-19 pandemic outbreak. This was ascribed to the direct effects on demand and production that disrupted supply chains and markets and negatively affected businesses and financial markets in terms of both revenue and expenses.

Somatostatin Analogs Market: Growth Drivers

Substantial R&D expenditures that result in the launch of new products:

The market for somatostatin analogues has seen increased R&D effort, which has led to a greater use of pharmacological compounds that are currently on the market. Also, businesses produce market investments and research funds for these R&D operations, which have a favourable effect on market expansion. As of November 2019, there were about 80, 25, and 10 clinical investigations (active/recruiting) on octreotide, lanreotide, and pasireotide, respectively. In addition, 27 of the 38 clinical trials being done on acromegaly involve the use of somatostatin analogues. Similar to this, 1,075 clinical studies are being done on neuroendocrine tumours, and 85 of these use somatostatin analogues.

Government insurance programmes that are helpful:

The availability of advantageous government insurance policies and programmes for patients with rare diseases is another significant element influencing the market’s expansion. For instance, the NIH and NCATS offer subsidised medications for uncommon disorders in the US and Europe.

Somatostatin Analogs Market: Segmentation Analysis

The somatostatin analogues market is divided into types, applications, and end users for the purposes of our research. The market is divided into three types: octreotide, lanreotide, and pasireotide. Octreotide led the entire type segment in 2021 due to its several therapeutic applications, including acromegaly, carcinoid tumours, and vasoactive intestinal peptide tumours. Sandostatin is the first somatostatin analogue approved by Novartis AG.

Over the projected period, Sandostatin’s market share is anticipated to be impacted by the release of generic versions of the drug. Pasireotide is anticipated to rise at the quickest rate during the projected period due to its effectiveness in patients with Cushing syndrome and acromegaly. Also, since the medicine was introduced in 2014 for acromegaly, sales are at their height. Phase II clinical trials are also being conducted to evaluate it for advanced/metastatic hepatocellular cancer.

The acromegaly, NETs, and other applications segments of the somatostatin analogues market are separated. Acromegaly is anticipated to be the largest segment in 2021 and the segment with the quickest rate of growth throughout the course of the forecast. The main driver of segment expansion is thought to be the rising public awareness of acromegaly and the availability of efficient treatment options.

Report Scope

Key Insights:

• The Somatostatin Analogs Market is anticipated to expand annually at a CAGR of roughly 6.5% over the projected period, according to the study supplied by our research analyst (2025-2034).
• The global market for somatostatin analogues was estimated to generate around 5.8 billion USD in sales in 2021, and it is anticipated to increase to 10 billion USD by 2030. The market is expected to grow significantly over the coming years as a result of a number of driving factors.
• The Octreotide category is predicted to hold a commanding market share in 2021 based on type segmentation.
• According to application segmentation, the category for acromegaly is anticipated to have a higher CAGR between 2022 and 2030.
• Geographically speaking, North America was the top source of revenue in 2021.

Recent Development

• The US FDA has approved Mycapssa as an orphan drug for the treatment of carcinoid syndrome, Amryt, a commercial-stage biopharmaceutical company dedicated to acquiring, developing, and commercialising innovative medicines for rare diseases, is happy to report. Carcinoid syndrome is the most typical functional syndrome connected to neuroendocrine tumours.
• June 2020: For patients with acromegaly who had previously responded to and tolerated octreotide or lanreotide injections, the US FDA has approved oral octreotide delayed-release capsules.

Regional Landscape

The somatostatin analogue market was dominated by North America, which is also anticipated to generate more than 50% of total revenue. The primary engine of regional growth is anticipated to be the high prevalence of acromegaly and NETs. Additionally, it is anticipated that the presence of significant competitors in the area, including Pfizer Inc. and Novartis AG, as well as growing consumer awareness, will fuel market expansion.

Asia-Pacific is anticipated to experience the fastest growth during the projection period. An increase in the number of NET diagnoses in nations like India, Japan, and South Korea, combined with increased per capita income, is one of the major market drivers.

Competitive Landscape

Companies are concentrating on initiatives such as the creation of novel formulations, alliances and distribution contracts, and geographical expansion in an effort to improve their revenue share. All of the companies profiled in the research are described in detail in the chapter on the competitive landscape. The following information is provided about the company: an overview, financials, revenue generated, market potential, R&D investments, new market initiatives, global presence, production sites, and facilities; company strengths and weaknesses; product launches, clinical trial pipelines, product approvals, patents; product width and breadth; application dominance; and the technology lifeline curve. The information given above is exclusive to the market for somatostatin analogues, which is the company’s primary emphasis.

The global Somatostatin Analogsmarket is segmented as follows:

By Type

• Lanreotide
• Octreotide
• Pasireotide

By Application

• Neuroendocrine Tumors (NETs)
• Acromegaly
• Others

By End User

• Pharmaceutical Companies
• Hospitals

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America