The need for Octreotide medications is anticipated to rise as diseases including cancer and acromegaly become more common, which is anticipated to propel market expansion. Over 4 million Americans have acromegaly, according to a National Institutes of Health report from 2015. The market is anticipated to increase as more unique Octreotide acetate products are introduced by major market participants. For instance, the samatostatin analogue Octreotide acetate was introduced by Sagent Pharmaceuticals, a biopharmaceutical business with headquarters in the United States, in 2013. Patients with acromegaly who do not satisfactorily react to treatment with surgery, irradiation, or bromocriptine mesylate or who are unable to get treatment with those methods can use this medication to lower blood levels of IGF-I (soatomedinC) and growth hormone. The strong pipeline of medications currently undergoing clinical trials is a key factor in the growth of the octreotide industry. For example, the Mario Negri Institute for Pharmacological Research finished phase 2 clinical trials of their Octreotide LAR medication in 2016 for the treatment of autosomal dominant polycystic kidney disease when combined with tolvaptan.
According to Coherent Market Insights, during the aforementioned forecast period, the market for Octreotides is anticipated to grow at a CAGR of almost 3%. The market was estimated to be worth USD 3 billion in 2022 and USD 3.80 billion in 2030.
Leading Companies in the Octreotide Industry:
1. Samarth Pharma Pvt Ltd.
The company was established in 1997 and has its main office in MUMBAI, Maharashtra. SAMARTH is a cutting-edge life sciences firm that conducts research, develops, produces, and markets a wide array of life-saving critical care medications.
2. Novartis AG
The company was started in March 1996 and has locations in Cambridge, Massachusetts and Basel, Switzerland. Novartis provides coverage for all types of medications, including prescription, over-the-counter, immunisations, diagnostics, eyewear, and veterinary care. Through its firms, Novartis engages in a number of direct activities, including handling, marketing, operations, and research.
3. Sun Pharmaceuticals Industries Ltd.
The company was founded in 1983 and is based in Mumbai. Pharmaceutical formulations and active pharmaceutical components are developed and sold by the company. In January 2023, Sun Pharma will release Palbociclib, a novel targeted treatment for advanced breast cancer, combined with an innovative patient support programme. Due to a sole patent licencing agreement with Lundbeck, Sun Pharma launched their brand of vortioxetine in India in March 2022.
4. Neiss Labs Pvt. Ltd.
The business was founded in 2001 and is based in Mumbai, Maharashtra. The company produces chemicals as part of its business. Pyridine, fine chemicals, and speciality compounds are the company's areas of expertise. Nasense Labs also offers derivatives of lithium, sodium, potassium, magnesium, and zinc. In the domestic and international healthcare industries, Neiss Labs Limited is a leader in therapeutic-specific nutraceuticals with ambitious activities.
5. Unique Chemical Ltd.
The firm was started in 1975 and is based in China. Pharmaceutical preparations for human or veterinary use are among the products that the company manufactures, fabricates, or processes. One of China's top manufacturers and exporters of specialty colour compounds is Unique Chemical Limited. Our main focus is research and development.
*Definition: Octreotide acetate is frequently used to treat some malignancies, diarrhoea, and tumours such carcinoid, pancreatic islet cell tumours, and tumours that secrete vasoactive intestinal peptides.
