Octreotide Acetate Market - Size, Share, Outlook, and Forecast till 2026
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Octreotide acetate is the acetate salt of octapeptide and has pharmacologic properties similar to that of the natural hormone somatostatin. The inhibition of growth hormones, glucagon, and insulin is efficiently carried out by octreotide acetate when compared to somatostatin. Octreotide acetate suppresses the luteinizing hormone response to gonadotropin-releasing hormone, decreases splanchnic blood flow, and inhibits the release of serotonin, gastrin, vasoactive intestinal peptide (VIP), secretin, motilin, pancreatic polypeptide, and thyroid stimulating hormone.
It finds applications in medical therapeutic and medical prophylactic. Octreotide is used for the treatment of severe watery diarrhea and sudden reddening of the face and neck caused by certain types of tumors in the intestines and pancreas. Excess production of hormones causes these symptoms and medication helps in blocking the production of hormones.
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Increasing incidences of cancer, diabetes, and heart disease is one of the major factors that is expected to drive growth of octreotide acetate market over the forecast period, as treatment of acromegaly using octreotide helps in reducing diabetes and heart disease.
However, side effects such as nausea, vomiting, stomach upset, gas, bloating, dizziness and headache caused by using octreotide acetate injection is expected to hamper growth of octreotide acetate market over the forecast period.
Key Developments in Octreotide Acetate Market
Key players are adopting various strategies such as mergers, acquisitions, new product launches, expansions, collaborations, partnerships, approvals, and joint ventures to retain its position in the octreotide acetate market. On November 23, 2016, Sun Pharmaceutical Industries Ltd. announced the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in the manufacture and marketing of pharmaceutical products in Russia and CIS region.
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Sandostatin LAR Depot is a long-acting dosage form consisting of microspheres of the biodegradable glucose star polymer, D, L-lactic and glycolic acids copolymer, containing octreotide. It helps in maintaining all the clinical and pharmacological characteristics of the immediate-release dosage form Sandostatin (octreotide acetate) injection with the added feature of slow release of octreotide from the site of injection.
Varitide 5th in the octreotide acetate market is one of the top ranking brands in the therapeutic segments of J.B Chemicals & Pharmaceuticals Ltd.
Some of the major players operating in the octreotide acetate market include Samarth Pharma, Critical Care, Sun Pharmaceutical Industries, Neiss Labs, Novartis, Unique Chemicals, Sandostatin, Xinyhuanshun, Aituo, and Shengtian among others.
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