What are the recent trends in market size and growth for the octreotide market?
The octreotide market size has grown strongly in recent years. It will grow from $2.45 billion in 2024 to $2.59 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to the increasing prevalence of acromegaly, increasing prevalence of hormonal disorders, growing awareness of early diagnosis, expansion of healthcare infrastructure, and increase in cancer diagnoses.
The octreotide market size is expected to see strong growth in the next few years. It will grow to $3.18 billion in 2029 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to the increasing geriatric population, rising awareness and early diagnosis, an increase in the occurrence of severe diarrhea, growing healthcare spending, and an increasing pipeline of drugs. Major trends in the forecast period include advance drug launches, product launches, product approvals, technological innovations, and emerging market expansion.
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How have varous drivers impacted the growth of the octreotide market?
The increasing rates of cancer are expected to propel the growth of the octreotide market going forward. Cancer is a group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body. Increasing cancer rates are largely due to aging populations, environmental factors, lifestyle choices, and improved detection methods. Octreotide helps counter rising cancer rates by inhibiting tumor growth, controlling hormone-related cancers, and alleviating associated symptoms. For instance, in May 2024, according to the reports published by the National Cancer Institute (NCI), a US-based government agency, there were nearly 20 million new cancer cases and 9.7 million deaths worldwide, with projections for 2040 rising to 29.9 million cases and 15.3 million deaths. Therefore, increasing rates of cancer are driving the growth of the octreotide market.
What are the primary segments of the octreotide market?
The octreotide market covered in this report is segmented –
1) By Type: Octreotide Acetate, Octreotide, Octreotide Chloride, Octreotide Hydrochloride, Indium In-111 Octreotide
2) By Form: Injection, Powder, Microspheres
3) By Indications: Diarrhea, Acromegaly, Other Indications
4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
5) By End-user: Pharmaceutical, Clinical Research
Subsegments:
1) By Octreotide Acetate: Injectable Formulation, Depot Injectable Formulation
2) By Octreotide: Injectable Formulation, Oral Formulation
3) By Octreotide Chloride: Injectable Formulation, Lyophilized Powder
4) By Octreotide Hydrochloride: Injectable Formulation, Lyophilized Powder
5) By Indium In-111 Octreotide: Diagnostic Radiopharmaceutical Formulation, Therapeutic Radiopharmaceutical Formulation
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Which firms are leading the octreotide market?
Major companies operating in the octreotide market are Novartis International AG, Viatris Inc., Teva Pharmaceutical Industries Ltd., Fresenius Kabi AG, Sun Pharmaceutical Industries Ltd., Ipsen S.A., Aurobindo Pharma Limited, Dr. Reddy’s Laboratories Ltd., Hikma Pharmaceuticals PLC, Bachem Holding AG, Chemi S.p.A., LGM Pharma LLC, Hainan Shuangcheng Pharmaceuticals Co. Ltd., USV Private Limited, ChemWerth Inc., Shanghai Soho-Yiming Pharmaceuticals Co. Ltd., Neiss Labs Private Limited, Samarth Life Sciences Private Limited, TAPI Technology & API Services, BCN Peptides S.A.
How will industry trends affect the trajectory of the octreotide market?
Major companies operating in the octreotide market are focusing on developing innovative products, such as injectable suspensions, to improve patient adherence and convenience. Injectable suspensions are fast-acting medications that are administered via injection, allowing for quicker absorption into the bloodstream and bypassing the digestive system for faster onset of action. For instance, in October 2024, Teva Pharmaceuticals, an Israel-based pharmaceutical company, launched the generic version of Sandostatin LAR Depot (octreotide acetate for injectable suspension), designed to be injected for fast absorption into the bloodstream. Octreotide is a synthetic analog of the natural hormone somatostatin and is primarily used to treat conditions such as acromegaly, carcinoid syndrome, and VIP-secreting tumors. The injectable delivery method allows for a quicker onset of action compared to traditional oral tablets, making it easier for patients to adhere to their treatment plans.
Which geographic trends are shaping the octreotide market, and which region has the highest market share?
North America was the largest region in the octreotide market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the octreotide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Octreotide Market Report 2025 Offer?
The octreotide market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Octreotide is a synthetic somatostatin analog used to treat various medical conditions by inhibiting hormone secretion. Available in short-acting and long-acting formulations, it helps manage hormone-related disorders but may cause side effects such as gastrointestinal issues and gallstones.
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