OCTREOTIDE MARKET ANALYSIS

Regional Analysis

Octreotide Market Regional Analysis:-

North America is expected to hold a dominant position in the Octreotide market due to the presence of key players and robust pipeline of products in the region. For instance, Octreotide capsules sponsored by Chaisma Inc.—a biopharmaceutical company based in the U.S.—completed phase 3 clinical trials in 2017 for treatment of acromegaly. LAR lanreotide sponsored by Memorial Sloan Kettering Cancer Center, based in New York City, is currently in phase 4 clinical trials since 2016. LAR lanreotide is indicated for treatment of neuroendocrine tumors. Novel drugs are expected to fuel growth of the Octreotide market in North America. For instance, in 2011 Mylan Pharmaceutical Ltd—a generic and pharmaceuticals specialty company based in the U.S.—launched the generic version of sandostatin i.e. Octreotide acetate injection USP (pre-filled syringes). Octreotide acetate injection USP is used to treat acromegaly. It is also used to inhibit and suppress severe diarrhea, which is associated with metastatic carcinoid tumors and vasoactive intestinal peptide tumors.

Europe is expected to show significant growth in the Octreotide market due to strategic mergers and acquisitions among key players. For instance, in 2017, Novartis AG—a Switzerland-based company—acquired Advanced Accelerator Applications, a France-based company—to increase the development of its therapeutics portfolio, which also includes development of Octreotide to cure oncology.