Somatostatin Analogs Market Size & Share, by Type (Octreotide, Lanreotide, Pasireotide); Application (Acromegaly, Neuroendocrine Tumors); End-User (Hospitals, Pharmaceutical Companies) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5047
  • Published Date: Oct 20, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Somatostatin Analogs Market size is poised to reach USD 15 Billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of somatostatin analogs was USD 7 Billion. The reason behind the growth is due to the rising prevalence of Cushing syndrome. It has been postulated that somatostatin (SRIF) may be of therapeutic interest in the medical treatment of Cushing's illness specifically for people for whom pituitary surgery is not an option as the treatment reduces the mean levels of adrenocorticotropic hormone (ACTH) and urine cortisol. The global annual incidence of endogenous Cushing syndrome is estimated to be over 12 per million persons.

The growing launch of advanced drug therapies for rare diseases is believed to fuel the market growth. In 2022, the FDA authorized more than 19 orphan medications from the Centre for Drug Evaluation and Research (CDER) as more large pharmaceutical companies are investing in R&D, particularly in oncology, neurology, and hematology and as pharmaceutical companies are concentrating on the development of curative medicines such as cell and gene therapies. For instance, each year, more than 45 new medicines are approved around the world.

Somatostatin Analogs Market
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Somatostatin Analogs Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Cases of Neuroendocrine Tumors – Some neuroendocrine tumors (NETs) produce a high level of hormones, resulting in a set of symptoms known as carcinoid syndrome which necessitates the use of somatostatin analogs to prevent the body from producing an excess of hormones and alleviate carcinoid syndrome symptoms to enhance patients' quality of life and survival.
  • Presence of Government Insurance Policies for Rare Diseases- Rare diseases (RDs) can place a significant financial strain on sufferers and their families therefore the government sponsors the treatment of uncommon diseases in many rising economies.


  • Exorbitant Cost of Somatostatin Analogs Treatment Procedure - Somatostatin analogs (SSAs) are used to treat neuroendocrine tumors (NETs) and acromegaly and may be considered as primary treatment in patients whose surgery is not likely to be curative however they have high acquisition costs and their usage may be limited in resource-limited settings. Besides this, the need for strict quality control also adds to the overall cost of the treatment.
  • Strict Reimbursement and Pricing Policies
  • Side Effects Caused by Somatostatin Analogs.

Somatostatin Analogs Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2023)

~ USD 7 Billion

Forecast Year Market Size (2036)

~ USD 15 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Somatostatin Analogs Segmentation

Type (Octreotide, Lanreotide, Pasireotide)

The octreotide segment is estimated to hold 44% share of the global somatostatin analogs market in the coming years owing to the rising prevalence of neuroendocrine tumors. Neuroendocrine tumors, also known as neuroendocrine tumors (NET), are a rare type of tumor that begins in specialized cells called neuroendocrine cells that most usually occur in the intestine, where they are known as carcinoid tumors. Moreover, they arise when neuroendocrine cells' DNA changes and forms in cells that interact with the neurological system or in glands that generate hormones. 

Octreotide also known as Sandostatin is licensed for the treatment of clinical syndromes and tumor growth as it is a synthetic version of the natural hormone somatostatin used to control the growth of some advanced neuroendocrine tumors (NETs) when surgery is not an option to considerably enhance the neuroendocrine tumors treatment. According to estimates, each year, over 11, 000 persons in the United States are diagnosed with neuroendocrine tumors (NET).

Additionally, the pasireotide segment is anticipated to gain a notable share by the year 2036. Pasireotide is a man-made protein that functions similarly to the hormone somatostatin in the body and is used to treat Cushing's disease, an abnormal condition caused by excess hormones in patients for whom pituitary surgery is not an option. Pasireotide is marketed under the brand names Signifor a quick-acting variant that is injected under the skin twice a day and Signifor LAR a long-acting variant that is injected into the buttock muscle by a healthcare provider every month.

Application (Acromegaly, Neuroendocrine Tumors)

The acromegaly segment in the somatostatin analogs market is set to garner a notable share shortly. Acromegaly is a rare disorder in which the body creates excessive amounts of growth hormone and is typically diagnosed in individuals aged 30 to 50, but it can afflict persons of any age. Moreover, it is an uncommon but deadly medical illness caused by an overproduction of growth hormone by the pituitary gland during maturity. 

Drug therapy, including somatostatin analogs (SAs), dopamine receptor agonists, and growth hormone receptor antagonists (pegvisomant, PEG), is routinely used to treat individuals with acromegaly who do not respond to surgery.

Our in-depth analysis of the global market includes the following segments:


  • Octreotide
  •  Lanreotide
  • Pasireotide


  • Acromegaly
  •  Neuroendocrine Tumors


  • Hospitals
  • Pharmaceutical Companies

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Somatostatin Analogs Industry - Regional Synopsis

North American Market Forecast

Somatostatin analogs market in North America is predicted to account for the largest share of 49% by 2036 impelled by the availability of key regional players such as Pfizer Inc. and Novartis AG. For instance, in September 2023 Novartis With its comprehensive portfolio, including the SSA therapy Sandostatin (octreotide), is likely to dominate up to half of the market by aiming for first-line status for its radionucleotide treatment Lutathera a peptide receptor radionuclide therapy that targets and destroys cancer cells with high-dose radiation and long-acting octreotide for the treatment of somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors.

APAC Market Statistics

The APAC Somatostatin analogs market is estimated to be the second largest, during the forecast timeframe led by rising pharmaceutical company. This has led to a rise in investment in research & development in improved somatostatin analogs that play a critical role in symptom management of excessive hormone production. India's pharmaceutical sector is predicted to be worth over USD 64 billion by 2024 and more than USD 125 billion by 2030.

Research Nester
Somatostatin Analogs Market size
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Companies Dominating the Somatostatin Analogs Landscape

    • Novartis AG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Sun Pharmaceutical Industries Ltd
    • Midatech Pharma PLC
    • Ipsen Pharma, Chiasma Inc.
    • Peptron, Inc
    • Dauntless Pharmaceuticals
    • Camurus AB
    • Pfizer Inc.


In The News

  • Novartis AG announced that it has received a favorable opinion for Pluvicto a radioligand therapy, in combination with androgen deprivation therapy (ADT) for the treatment of adult patients with metastatic castration-resistant prostate cancer (mCRPC). Furthermore, the positive opinion is based on data from the Phase III VISION study, which would significantly improve overall survival in PSMA-positive mCRPC patients and provide transformative innovation to more patients around the world.
  • Sun Pharmaceutical Industries Ltd. teamed up with Philogen SpA for the commercialization of Nidlegy, a brand-new immunotherapy drug that Philogen is creating to treat both melanoma and non-melanoma skin cancers in New Zealand, Australia, and Europe.

Author Credits:  Radhika Gupta, Shivam Bhutani

  • Report ID: 5047
  • Published Date: Oct 20, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising prevalence of Cushing syndrome and the growing launch of advanced drug therapies for rare diseases are the major factors driving the growth of the market.

The market size of somatostatin analogs is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2024-2036.

The major players in the market are Novartis AG, Sun Pharmaceutical Industries Ltd, Midatech Pharma PLC, Ipsen Pharma, Chiasma Inc., Peptron, Inc., CRINETICS PHARMACEUTICALS, Dauntless Pharmaceuticals, Camurus AB, Teva Pharmaceuticals Inc, and Pfizer Inc.

The octreotide segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Somatostatin Analogs Market Report Scope

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