Global Octreotide Acetate Market Overview:
A cyclic octapeptide's acetate salt is called octreotide. It's a long-acting octapeptide with pharmacologic properties that imitate those of the natural hormone somatostatin, and it's used to treat extreme watery diarrhea and rapid reddening of the face and neck caused by certain forms of tumors in the intestines and pancreas (e.g., carcinoid tumors, vasoactive intestinal peptide tumors). Octreotide is also used to treat a disease known as acromegaly, which is caused by the body producing so much of a natural compound known as growth hormone. Acromegaly treatment lowers the risk of serious complications including diabetes and heart disease. Owing to Technical Progress Octreotide Acetate is now available as oral administration drug in the form of tablets and capsules.
Growth Drivers
- Increasing Preference for Oral Octreotide Acetate over Injectables
- Rising Geriatric Population
- Prevalence of Chronic Health Disorders
Market Trends
- Technical Progress in Medical Industry
Roadblocks
Opportunities
- Unexplored Markets
- Heavy Investments in Healthcare Research & Development
Challenges
- Side Effects and Adverse Reactions
- Regulatory Approval
Competitive Landscape:
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Some of the key players profiled in the report are Novartis (Switzerland), Chiasma Pharma (United States), Sun Pharmaceutical Industries (India), Neiss Labs (India), Unique Chemicals (India), Samarth Life Sciences Private Limited (India), Yipubishan (China), MITS Healthcare Private Limited (India), CELON Labs (India), HealthCare Pharma (India) and Troikaa Pharmaceuticals (India). Analyst at AMA Research see Indian Players to retain maximum share of Global Octreotide Acetate market by 2026. Considering Market by Form, the sub-segment i.e. Injectable will boost the Octreotide Acetate market. Considering Market by End Use, the sub-segment i.e. Hospital will boost the Octreotide Acetate market.
On 26th June, 2020 - Chiasma Announced FDA Approval for its “MYCAPSSA” (Octreotide Acetate) Capsules. MYCAPSSA is the First and Only Oral Somatostatin Analog and is Indicated for Long-Term Maintenance Treatment in Acromegaly Patients.
United States, Food and Drug Administration “Octreotide Acetate” Guidance; Provides a Comprehensive List of Procedures Regarding the Usage, Indications and Dosage Requirements Based on the Patient Profile of Octreotide Acetate Injections Across US. and European Medicines Agency “Octreotide Acetate Product-Specific Bioequivalence Guidance” - provides product-specific instructions for demonstrating bioequivalence of octreotide acetate depot powder and solvent for injection (10 mg, 20 mg, or 30 mg).
What Can be Explored with the Octreotide Acetate Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Octreotide Acetate Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Octreotide Acetate
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Octreotide Acetate market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Octreotide Acetate market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Octreotide Acetate Drug Manufactures, API Providers, Octreotide Acetate Drug Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.