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2023 Somatostatin Analogs Market Growth, Segmentation, Industry Analysis, Top Key Players | Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd., Midatech Pharma plc.
Somatostatin Analogs Global Market
The Business Research Company's Somatostatin Analogs Global Market Report 2023 identifies rise in the incidence of neuroendocrine tumors as the major driver for the Somatostatin Analogs market's growth in the forecast period. Neuroendocrine tumors refer to malignancies that start in specialized neuroendocrine cells. Analogs of somatostatin prevent the body from producing too many hormones. They decrease a neuroendocrine tumor's growth and reduce carcinoid disease symptoms.
The global somatostatin analogs treatment market size is expected to grow from $5.79 billion in 2022 to $6.23 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The somatostatin analogs market size is expected to reach $8.09 billion in 2027 at a CAGR of 6.8%.
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Major competitors in the Somatostatin Analogs market are Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd., Midatech Pharma plc, Crinetics Pharmaceuticals Inc., Peptron Inc.
A key trend in the Somatostatin Analogs market includes Innovation of novel drug therapies. Major companies operating in the somatostatin analogs market are developing innovative drug therapies to strengthen their position in the market. For instance, in August 2020, Chiasma Inc., a US-based commercial-stage biopharmaceutical company, launched Mycapssa (octreotide) capsules in the United States for patients with acromegaly.
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The Somatostatin Analogs market is segmented -
1) By Type: Octreotide, Lanreotide, Pasireotide
2) By Treatment: Acromegaly, Cushing's Syndrome, Neuroendocrine Tumors, Carcinoid Syndrome, Other Treatments
3) By End User: Hospital, Pharmaceutical Companies
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Somatostatin Analogs market.
The Business Research Company's "Global Somatostatin Analogs Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Somatostatin Analogs Market Include:
1. Executive Summary
2. Somatostatin Analogs Market Characteristics
3. Somatostatin Analogs Market Trends And Strategies
4. Somatostatin Analogs Market - Macro Economic Scenario
5. Somatostatin Analogs Market Size And Growth
……
27. Somatostatin Analogs Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Somatostatin Analogs Market
29. Somatostatin Analogs Market Future Outlook and Potential Analysis
30. Appendix
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