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Somatostatin Analogs Market Share, Size,Growth, Opportunities,
Research and Forecasts to 2024 | Hexa Research
“ The global somatostatin analogs market size to reach USD 3.1 billion by
2024.”
26 November 2018
The global somatostatin analogs market size to reach USD 3.1 billion by 2024, owing to the rise in the
incidence rate of acromegaly and neuroendocrine tumor over the forecast period. Rising awareness, training
and education by Pituitary Association of Australia and UK & Ireland Neuroendocrine Tumor Society is
expected to have positive impact on the market growth in the coming years.
The octreotide type analog brand Sandostatin accounted for more than 67% of the market share in 2016. The
demand for octreotide is expected to show stagnant growth over the forecast period. Owing to the patent
expiration of the drug Sandostatin LAR in 2014 in U.S., which was being marketed by Novartis in North
America, Europe and many other countries across the globe. Rising popularity of Lanreotide brand
Somatuline in the U.S. and Europe is expected to fuel the market growth. Increasing penetration and
popularity of the drug in the market coupled with the rise in the use of Somatuline lanreotide for carcinoid
syndrome and other related disorder is expected to provide lucrative growth opportunity for the
somatostatin analogs in near future.
Lanreotide is a drug used in management and treatment of acromegaly. It is also administered in the
treatment of symptoms caused by carcinoid syndrome. The molecule is long acting somatostatin analog
similar to octreotide. The sequence for lanreotide is H-D-2Nal-Cys(1)-Tyr-D-Trp-Lys-Val-Cys(1)-Thr-NH2. The
drug is marketed under the brand name Somatuline and is manufactured by Ipsen.
Browse Details of Report @ https://www.hexaresearch.com/research-report/somatostatin-analogs-market
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