Somatostatin Analogs Industry - Regional Synopsis
North American Market Forecast
North America industry is anticipated to account for largest revenue share of 49% by 2037 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.
