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Somatostatin (SSA) Analogs Market Segmented By Types such as Octreotide, Lanreotide and Pasireotide with Applications such as Acromegaly, Neuroendocrine Tumors (NETs), Others
Somatostatin (SSA) analogs are the synthetic somatostatin for the treatment of disorder such as acromegaly, Carcinoid syndrome, neuroendocrine tumours and Crushing syndrome and carcinoid syndrome, by regulating the growth hormones, insulin and serotonin production. Somatostatin (SSA) analogs also function to empty intestine and stomach.
According to the American Association of Neurological Surgeons, 10-15 inpidual per million populations is affected by Cushing’s syndrome every year, with high prevalence in adults (20-50 years) and especially in females. The global prevalence of acromegaly is one in 4,600 per million globally, with every new 116.9 new cases per million reported, stated by NCBI.
Somatostatin (SSA) analogs market has been globally impacted by Coronavirus pandemic and the lockdown impositions as somatostatin (SSA) analogs are administered at the doctor’s clinic. To cope with social distancing, lockdown and to administer somatostatin (SSA) analogs to patients for NET, several programs were launched for home administration of somatostatin (SSA) analogs by trained nurses.
Ipsen CARES has developed specialised somatostatin (SSA) analogs, lanreotide on the temporary basis for homebound patients and Novartis is providing long-acting octreotide with their mobile administration program (MAP) having some modified drug receiving criteria.
Increasing prevalence of acromegaly, neuroendocrine tumors, Cushing syndrome and other related diseases is expected to accelerate the growth of this global somatostatin (SSA) analogs market. Along with the support of advancing R&D, surging of novel somatostatin (SSA) analogs launches including Signifor (Pasireotide) by Novartis AG for Cushing’s syndrome and acromegaly.
Government health organizations such as National Institutes of Health (NIH), the National Center for Advancing Translational Sciences (NCATS) with their supportive policies, schemes and subsidized somatostatin (SSA) analogs are serving patients with rare disorders.
However, the global somatostatin (SSA) analogs market is constrained by the high expenditure of treatment, stringent reimbursement policies and necessity of huge investments for Somatostatin (SSA) analogs drug development.
Although, the horizon of possibilities is wide for global somatostatin (SSA) analogs market with increasing investments of pharmaceutical companies such as Sun Pharma, WOCKHARDT and Chiasma Inc.
The companies are working to develop novel octreotide formulation along with the amendments in the distributions & partnerships agreements and these somatostatin (SSA) analogs are currently in pre-clinical phase.
The global somatostatin (SSA) analogs market is expected to revamp lucratively due to the increasing diseases, advancing healthcare, elevated research and government investments into somatostatin (SSA) analogs development.
By types, octreotide segment dominates somatostatin (SSA) analogs types with its massive market base in the treatment of carcinoid tumours, vasoactive intestinal peptide tumours and acromegaly. By Application, acromegaly rules the somatostatin (SSA) analogs applications with its surging awareness and alternative treatment availability.
North America holds dominating position in the global somatostatin (SSA) analogs market and Europe holds the second-largest market. Both the regions are driven by the high disease prevalence including acromegaly, neuroendocrine tumours and Cushing syndrome, increasing awareness, rising use of somatuline lanreotide for Carcinoid syndrome and support of government organization.
The major players, Pfizer and Novartis AG also play a crucial role in the North America and Europe somatostatin (SSA) analogs market dominance. Asia pacific has registered the fastest growth rate of global somatostatin (SSA) analogs market, driven by the surging cases of NET in South Asia including China and India, and East Asia including South Korea and Japan, coupled with the rising income per capita.
Latin America somatostatin (SSA) analogs market is growing gradually, countries such as Mexico, Brazil, Argentina, Ecuador Colombia, Chile, Venezuela and Peru, where somatostatin (SSA) analogs such as octreotide. Middle East & Africa somatostatin (SSA) analogs market is gaining momentum of growth.
Brazil has the elevating use of octreotide and lanreotide with cost effectiveness for acromelagy, and Israel having advancing research and healthcare applications of somatostatin (SSA) analogs market.
The key payers of global somatostatin (SSA) analogs market include Novartis, Pfizer, Sun Pharmaceutical, Chiasma, Ipsen, Midatech Pharma, Crinetics Pharmaceuticals, Peptron, Teva Pharmaceuticals and Camurus.
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