Octreotide Market - Opportunity Analysis, 2018-2026
Increasing number of launches pertaining to novel Octreotide acetate products by key players in the market is expected to drive market growth.
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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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 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.
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Samarth Pharma Pvt Ltd., Sun Pharmaceuticals Industries Ltd., Neiss Labs Pvt. Ltd., Novartis AG, and Unique Chemical Ltd.
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