Global Octreotide Top Major Players 2025, Forecast To 2034
26 Mar, 2025
What Is The Current and Historic Market Size Analysis Of The Octreotide Market?
The octreotide market has seen considerable growth due to a variety of factors.
• In recent times, there has been substantial expansion in the octreotide market size. Its growth is expected to propel from $2.45 billion in 2024 to $2.59 billion in 2025, clocking a compound annual growth rate (CAGR) of 5.6%.
Several factors have contributed to this surge during the historic period, including a rise in the incidence of acromegaly and hormonal disorders, heightened awareness about early detection, the enlargement of healthcare services, and a spike in cancer diagnoses.
What are the Market Size and Expected Growth Rates for the Octreotide Market?
The octreotide market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of octreotide is predicated to witness significant expansion in the upcoming years, reaching $3.18 billion by 2029, with a compound annual growth rate (CAGR) of 5.3%.
The anticipated growth during this forecast period can be accredited to factors such as a surge in the elderly population, heightened awareness and early detection, a rise in severe diarrhea instances, enhanced healthcare expenditure, and a burgeoning pipeline of medications. The forecast period is likely to see major trends like the introduction of advanced drugs, product releases, product approvals, technological advancements, and expansion into emerging markets.
Which Key Drivers Are Propelling The Octreotide Market's Growth?
The escalating instances of cancer are anticipated to further the expansion of the octreotide market. Cancer comprises a set of illnesses marked by unrestrained multiplication and distribution of anomalous cells in the human body. The surge in cancer instances can largely be attributed to ageing populations, environmental variables, lifestyle preferences, and enhanced detection techniques. Octreotide serves to combat the increasing prevalence of cancer by restricting tumor development, managing hormone-related cancers, and easing related symptoms. For instance, the National Cancer Institute (NCI), a government agency based in the US, revealed in their May 2024 reports that nearly 20 million new cancer cases were reported along with 9.7 million deaths on a global scale, with forecasts for 2040 suggesting a rise to 29.9 million cases and 15.3 million fatalities. As a result, the escalating prevalence of cancer is fueling the growth of the octreotide market.
What Are The Key Segments Within The Global 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
What New Trends Are Influencing The Octreotide Market?
Key players in the octreotide market are channeling their efforts towards creating innovative products like injectable suspensions, with the aim of enhancing patient compliance and ease of use. These suspensions, given by injection, are rapidly-acting drugs that get absorbed into the circulatory system swiftly, avoiding the digestive tract for a speedier action initiation. As an example, the Israeli pharmaceutical firm, Teva Pharmaceuticals, released a generic version of Sandostatin LAR Depot (octreotide acetate for injectable suspension) in October 2024. This product, intended for quick absorption through injection, is an artificial form of the natural hormone somatostatin. It's primarily utilized for the treatment of conditions such as acromegaly, carcinoid syndrome, and VIP-secreting tumors. The injection delivery mechanism initiates action faster than conventional oral tablets, thereby facilitating patient adherence to prescribed treatment schedules.
Who Are the Key Players In 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.
What Are The Regional Insights Into The Octreotide Market?
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.