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Neuroendocrine tumor (NET) segment held more than 50% of the market share in 2016. Increasing
incidence rate of neuroendocrine tumors and associated diseases such as carcinoid tumors is the key
factor driving the growth of the market during the forecast period.
North America held more than 45% of market share in 2016. Increasing incidence of acromegaly and
neuroendocrine tumor (NET) coupled with the rise in awareness and accuracy of disease diagnosis in
developed economies is building a positive outlook for the acceptance of somatostatin analogs.
Presence of favorable reimbursement policies, rise in the use of somatostatin analogs for treatment
and, growing research and development activities in the North America is expected to have positive
impact on market growth over the forecast period.
Asia Pacific is expected to exhibit the fastest growth over the forecast period owing to the rise in the
research and development activities in the medical field and the launch of innovative drug formulations
are the main factor driving the growth of somatostatin analogs market over the forecast period.
The global somatostatin analogs industry is consolidated in nature with Novartis AG and IPSEN
dominating market. Companies are adopting new strategies for increasing their R&D activities and
introducing new product such as signifor and signifor LAR (Pasireotide) which are gaining momentum
in U.S. and European market. Competetiors are also entering into new and potential markets where
they can expect the product growth in the near future. For instance, Sun Pharma Advanced Research
Company Ltd., had launch somatostatin analogs product for the treatment of acromegaly in India.
Hexa Research has segmented the global somatostatin analogs market report based on type, indication
and region:
Segmentation by type, 2014 - 2024
• Octreotide
• Lanreotide
• Pasireotide
Segmentation by indication, 2014 - 2024
• Acromegaly
• Neuroendocrine Tumor (NET)
• Others
Segmentation by region, 2014 - 2024
• North America
• U.S.
• Europe
• Germany
• UK
• Asia Pacific
• China
• Japan
• Rest of the World (RoW)
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