Octreotide Market Regional
Analysis:-
North America is expected to hold
a dominant position in the Octreotide
Market due to the presence of key players and robust pipeline of products
in the region. For instance, Octreotide capsules sponsored by Chaisma Inc.—a
biopharmaceutical company based in the U.S.—completed phase 3 clinical trials
in 2017 for treatment of acromegaly. LAR lanreotide sponsored by Memorial Sloan
Kettering Cancer Center, based in New York City, is currently in phase 4
clinical trials since 2016. LAR lanreotide is indicated for treatment of neuroendocrine
tumors. Novel drugs are expected to fuel growth of the Octreotide market in
North America. For instance, in 2011 Mylan Pharmaceutical Ltd—a generic and
pharmaceuticals specialty company based in the U.S.—launched the generic
version of sandostatin i.e. Octreotide acetate injection USP (pre-filled
syringes). Octreotide acetate injection USP is used to treat acromegaly. It is
also used to inhibit and suppress severe diarrhea, which is associated with
metastatic carcinoid tumors and vasoactive intestinal peptide tumors.
Europe is expected to show
significant growth in the Octreotide market due to strategic mergers and
acquisitions among key players. For instance, in 2017, Novartis AG—a
Switzerland-based company—acquired Advanced Accelerator Applications, a
France-based company—to increase the development of its therapeutics portfolio,
which also includes development of Octreotide to cure oncology.
Octreotide is an octapeptide that
resembles natural somatostatin pharmacologically. Octreotide acetate is widely
used in treatment of some types of cancers, diarrhea, and tumors such as
carcinoid, pancreatic islet cell tumors, and vasoactive intestinal peptide
secreting tumors. Octreotide acetate is also used to treat acromegaly when the
body 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 the
Octreotide market is the robust pipeline of drugs in clinical trials. For
instance, in 2016, Mario Negri Institute for pharmacological research completed
phase 2 clinical trials of its Octreotide LAR in combination with tolvaptan
drug for the treatment of autosomal dominant polycystic kidney disease. This
disease has an effect on the glomerular rate and total kidney and cystic
volume. Octreotide sponsored by Radbound University is in phase 3 clinical
trials from 2016. This drug is under clinical trial for the treatment of
angiodysplasia, vascular malformations, gastrointestinal hemorrhage, and anemia
with Octreotide. Injection Octreotide, sponsored by PVS memorial hospital is in
phase 4 clinical trials since 2016. This injection is indicated for treatment
of pancreatic fistula and complications of pancreatoduodenectomy among patients
with soft pancreas. Furthermore, CAM2029 is being tested, currently in phase 2,
for acromegaly and neuroendocrine tumors by Camurus AB in collaboration with
Novartis AG. Octreotide chloride is the active ingredient for this product.
Increasing number of launches
pertaining to novel Octreotide acetate products by key players in the market is
expected to drive market growth. For instance, in 2013, Sagent Pharmaceuticals,
a U.S.-based biopharmaceutical company, launched its new drug Octreotide
acetate, a samatostatin analog. This drug is used to reduce blood levels of
IGF-I (soatomedinC) and growth hormone in acromegaly patients who do not
adequately respond to or who cannot be treated by surgery, irradiation and
bromocriptine mesylate
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Increasing prevalence of disease
such as acromegaly and cancer, is expected to increase the demand for
Octreotide drugs, which in turn is expected to fuel market growth. According to
a survey conducted by National Institute of Health in 2015, over 4 million
people suffer from acromegaly in the U.S.
Lack of research and development
for Octreotide acetate for the treatment of children, lactating and pregnant
women is a major restraining factor in this market. Moreover, consumption of
Octreotide acetate by pregnant women can cause problems in the growth of the
fetus and hence, its adoption is limited among pregnant woman.
Octreotide Market Key Players:-
Key players operating in the
Octreotide market include Samarth Pharma Pvt Ltd., Sun Pharmaceuticals
Industries Ltd., Neiss Labs Pvt. Ltd., Novartis AG, and Unique Chemical Ltd.
Major players in the market are adopting inorganic growth strategies such as
mergers and acquisitions, to strengthen their foothold in the global market.
For instance, in 2015, Sun Pharmaceutical Industries Ltd.—Mumbai-based
company—acquired Ranbaxy laboratories Ltd.—India-based pharmaceutical
company—to enhance its productivity and focus on development of therapeutic
area, including development of new drugs of Octreotide acetate. Such strategic
acquisition among key players in the market is expected to create a lucrative
environment for growth of the Octreotide market in the near future.
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