Octreotide Market RegionalAnalysis:-
North America is expected to holda dominant position in the OctreotideMarket due to the presence of key players and robust pipeline of productsin the region. For instance, Octreotide capsules sponsored by Chaisma Inc.—abiopharmaceutical company based in the U.S.—completed phase 3 clinical trialsin 2017 for treatment of acromegaly. LAR lanreotide sponsored by Memorial SloanKettering Cancer Center, based in New York City, is currently in phase 4clinical trials since 2016. LAR lanreotide is indicated for treatment of neuroendocrinetumors. Novel drugs are expected to fuel growth of the Octreotide market inNorth America. For instance, in 2011 Mylan Pharmaceutical Ltd—a generic andpharmaceuticals specialty company based in the U.S.—launched the genericversion of sandostatin i.e. Octreotide acetate injection USP (pre-filledsyringes). Octreotide acetate injection USP is used to treat acromegaly. It isalso used to inhibit and suppress severe diarrhea, which is associated withmetastatic carcinoid tumors and vasoactive intestinal peptide tumors.
Europe is expected to showsignificant growth in the Octreotide market due to strategic mergers andacquisitions among key players. For instance, in 2017, Novartis AG—aSwitzerland-based company—acquired Advanced Accelerator Applications, aFrance-based company—to increase the development of its therapeutics portfolio,which also includes development of Octreotide to cure oncology.
Octreotide is an octapeptide thatresembles natural somatostatin pharmacologically. Octreotide acetate is widelyused in treatment of some types of cancers, diarrhea, and tumors such ascarcinoid, pancreatic islet cell tumors, and vasoactive intestinal peptidesecreting tumors. Octreotide acetate is also used to treat acromegaly when thebody produces excess of growth hormone, which causes enlarged feet, hands,face, and head.
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Octreotide Market Drivers:-
Major driver for growth of theOctreotide market is the robust pipeline of drugs in clinical trials. Forinstance, in 2016, Mario Negri Institute for pharmacological research completedphase 2 clinical trials of its Octreotide LAR in combination with tolvaptandrug for the treatment of autosomal dominant polycystic kidney disease. Thisdisease has an effect on the glomerular rate and total kidney and cysticvolume. Octreotide sponsored by Radbound University is in phase 3 clinicaltrials from 2016. This drug is under clinical trial for the treatment ofangiodysplasia, vascular malformations, gastrointestinal hemorrhage, and anemiawith Octreotide. Injection Octreotide, sponsored by PVS memorial hospital is inphase 4 clinical trials since 2016. This injection is indicated for treatmentof pancreatic fistula and complications of pancreatoduodenectomy among patientswith soft pancreas. Furthermore, CAM2029 is being tested, currently in phase 2,for acromegaly and neuroendocrine tumors by Camurus AB in collaboration withNovartis AG. Octreotide chloride is the active ingredient for this product.
Increasing number of launchespertaining to novel Octreotide acetate products by key players in the market isexpected to drive market growth. For instance, in 2013, Sagent Pharmaceuticals,a U.S.-based biopharmaceutical company, launched its new drug Octreotideacetate, a samatostatin analog. This drug is used to reduce blood levels ofIGF-I (soatomedinC) and growth hormone in acromegaly patients who do notadequately respond to or who cannot be treated by surgery, irradiation andbromocriptine mesylate
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Increasing prevalence of diseasesuch as acromegaly and cancer, is expected to increase the demand forOctreotide drugs, which in turn is expected to fuel market growth. According toa survey conducted by National Institute of Health in 2015, over 4 millionpeople suffer from acromegaly in the U.S.
Lack of research and developmentfor Octreotide acetate for the treatment of children, lactating and pregnantwomen is a major restraining factor in this market. Moreover, consumption ofOctreotide acetate by pregnant women can cause problems in the growth of thefetus and hence, its adoption is limited among pregnant woman.
Octreotide Market Key Players:-
Key players operating in theOctreotide market include Samarth Pharma Pvt Ltd., Sun PharmaceuticalsIndustries Ltd., Neiss Labs Pvt. Ltd., Novartis AG, and Unique Chemical Ltd.Major players in the market are adopting inorganic growth strategies such asmergers and acquisitions, to strengthen their foothold in the global market.For instance, in 2015, Sun Pharmaceutical Industries Ltd.—Mumbai-basedcompany—acquired Ranbaxy laboratories Ltd.—India-based pharmaceuticalcompany—to enhance its productivity and focus on development of therapeuticarea, including development of new drugs of Octreotide acetate. Such strategicacquisition among key players in the market is expected to create a lucrativeenvironment for growth of the Octreotide market in the near future.
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