United States Somatostatin Receptor Type 2 Market Growth 2025: Key Developements, Future Growth, Industry Insights | Daewoong Pharmaceutical Co Ltd, Ipsen SA, Progenics Pharmaceuticals Inc, Strongbridge Biopharma plc and Zucara Therapeutics Inc.

United States Somatostatin Receptor Type 2 Market size in 2024: USD 0.199 B and projected to USD 0.343 B by 2032 with a CAGR of 7.0% (2025-2032).

Japan Somatostatin Receptor Type 2 Market in 2024: USD 0.101 B and projected to USD 0.177 B by 2032 with a CAGR of 6.7% (2025-2032).

DataM Intelligence has published a new research report on "Somatostatin Receptor Type 2 Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

United States: Recent Industry Developments
✅ October 2025: Advanced radiolabeled therapies targeting Somatostatin Receptor Type 2 (SSTR2) showed promising results in clinical trials for neuroendocrine tumors.
✅ September 2025: New diagnostic agents with enhanced affinity for SSTR2 improved imaging accuracy in PET scans.
✅ August 2025: FDA approved next-generation SSTR2-targeted peptide receptor radionuclide therapy (PRRT) for improved patient outcomes.

Japan: Recent Industry Developments
✅ October 2025: Researchers developed novel SSTR2 antagonists designed for higher efficacy in treating neuroendocrine cancers.
✅ September 2025: Japanese pharmaceutical companies advanced SSTR2-based diagnostics integrating AI for precision medicine.
✅ August 2025: Collaborative clinical studies evaluated combination therapies involving SSTR2 targeting agents and immunotherapies.

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Latest FDA Approvals

Crinetics Pharmaceuticals received FDA approval on September 25, 2025, for PALSONIFYTM (paltusotine), the first once-daily oral somatostatin receptor type 2 nonpeptide (SST2) agonist. PALSONIFY is approved as a first-line treatment for adults with acromegaly who have inadequate response to surgery or are ineligible for surgery. Approval was based on strong Phase 3 data demonstrating rapid and durable biochemical control and reduction in symptom burden.

Key Players:

Amryt Pharma plc, Crinetics Pharmaceuticals Inc, Daewoong Pharmaceutical Co Ltd, Ipsen SA, Progenics Pharmaceuticals Inc, Strongbridge Biopharma plc and Zucara Therapeutics Inc.

Recent Clinical Trials

PEN-221 is in multiple Phase 2a clinical trials for patients with advanced neuroendocrine tumors expressing SST2, including gastrointestinal and pancreatic neuroendocrine tumors and small-cell lung cancer. The trials focus on determining safety, tolerability, and efficacy based on maximum tolerated doses and progression-free survival metrics.​

A First-in-Human Phase I/IIa trial is underway for targeted alpha-particle therapy using [212Pb]VMT-α-NET in advanced SSTR2-positive neuroendocrine tumors, aiming at precision targeted radiotherapy.​

CRN00808, an oral SST2 agonist under development, and Lanreotide Acetate, a well-established SST2-targeted treatment, show promising results enhancing quality of life in acromegaly and neuroendocrine tumor patients

Growth Forecast Projected:

The Global Somatostatin Receptor Type 2 Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Somatostatin Receptor Type 2 Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Type: (CRN-00808, Lanreotide Acetate, PRL-2903, Others)

By Application: (Hormonal Disorder, Oncology, Metabolic Disorder)

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Somatostatin Receptor Type 2 producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Somatostatin Receptor Type 2 revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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M&A Activity and Procurements

Crinetics Pharmaceuticals strengthened its portfolio with FDA clearance and further pipeline development around SSTR2 therapeutics, positioning to capitalize on the growing hormonal disorder treatment market.​

Novartis is collaborating with Ratio Therapeutics to develop SSTR2 radiotherapeutics for cancer treatment, signaling strategic partnerships in this space for expanding therapeutic modalities.​

Pharma and biotech companies continue to invest in SSTR2-targeted drugs, diagnostic agents, and delivery platforms to enhance treatment precision and patient outcomes, aligned with rising demand and favorable regulatory frameworks.

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