Market Overview:
The global somatuline drugs market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing prevalence of cancer, rising geriatric population, and technological advancements in the field of oncology. Based on type, the global somatuline drugs market is segmented into 60 mg, 90 mg, and 120 mg. The 60 mg segment is expected to account for the largest share of the global market in 2018 owing to its lower price point as compared to other types of somatuline drugs. By application, hospital accounted for the largest share of the global market in 2017 and is projected to grow at a CAGR of 5.8% during 2018-2030 due high adoption rate by hospitals across different regions worldwide.
Product Definition:
Somatuline is a drug used to treat symptoms of acromegaly, a rare hormonal disorder that results in an overproduction of growth hormone. Somatuline is also used to treat tumors in the pancreas and other parts of the body.
60 mg:
60 mg is used for the treatment of chronic insomnia and EDS (Epworth Sleep Syndrome). It is also used in cases where there are nocturnal enuresis, urinary incontinence or urge incontinence. It helps to improve sleep quality and duration as well as reduces the number of night time awakenings.
90 mg:
90 mg is used in the treatment of chronic insomnia and belongs to a class of drugs known as benzodiazepines. It is also used for the short-term treatment of anxiety disorders, which include panic disorder, phobias, and social anxiety disorder. These medications are generally prescribed for people who do not respond to antidepressants or antipsychotics.
The drug works by enhancing serotonin activity in the brain; this helps improve sleep patterns and reduces wakefulness during the night.
Application Insights:
The hospital application segment accounted for the largest revenue share of over 70% in 2017. The growth can be attributed to the growing prevalence of cancer and other Somatuline-related diseases. According to a study conducted by NCBI, it is estimated that around 60% of total cancer cases occur due to genetic mutations. Thus, rising incidence rate of various types of cancers across the globe is expected to boost demand for somatuline drugs in near future.
Pharmacy application was estimated as one of the fastest-growing segments owing to increasing awareness about these drugs among healthcare professionals and patients alike. These are available without a prescription; however, doctors may prescript them if they have written prescriptions according with medical guidelines set by regulatory authorities such as FDA & EMA. High patient acceptance rates coupled with ease in procurement are anticipated to drive this segment further over the forecast period (see Table 1).
Regional Analysis:
North America dominated the global somatuline drugs market in 2017. The growth is attributed to the presence of key players, favorable reimbursement policies, and increasing R&D activities for development of novel therapies. In addition, rising prevalence of chronic diseases such as cancer and diabetes is expected to drive demand over the forecast period.
Asia Pacific region accounted for a revenue share of 15% in 2017 owing to high unmet clinical needs coupled with availability of effective treatment methods at low cost compared to branded ones. Moreover, increase in awareness regarding benefits associated with these drugs will boost regional growth during the forecast period. Increasing investments by governments & private entities are also contributing towards market growth by way of funding research projects & developing novel therapies for treating various disorders such as cancer & diabetes which results into increased demand over time horizon (2018 - 2030).
Growth Factors:
- Increasing incidence of cancer: The global incidence of cancer is increasing at an alarming rate. This is expected to drive the demand for Somatuline drugs in the coming years.
- Growing awareness about advanced therapies: There is a growing awareness among patients and healthcare professionals about the benefits of using advanced therapies such as Somatuline drugs for treating various types of cancers. This is likely to boost the demand for these drugs in the near future.
- Rising prevalence of obesity: Obesity has emerged as one of the leading risk factors for developing various types of cancers, including pancreatic cancer. This is likely to create a strong demand for Somatuline drugs in the coming years, especially among obese patients who are at a higher risk for developing pancreatic cancer.
Scope Of The Report
Report Attributes
Report Details
Report Title
Somatuline Drugs Market Research Report
By Type
60 mg, 90 mg, 120 mg
By Application
Hospital, Pharmacy
By Companies
IPSEN, IPSEN
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
197
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Somatuline Drugs Market Report Segments:
The global Somatuline Drugs market is segmented on the basis of:
Types
60 mg, 90 mg, 120 mg
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Pharmacy
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IPSEN
- IPSEN
Highlights of The Somatuline Drugs Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 60 mg
- 90 mg
- 120 mg
- By Application:
- Hospital
- Pharmacy
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Somatuline Drugs Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Somatuline drugs are a type of medication that are used to treat conditions like cancer, hepatitis C, and multiple sclerosis. Somatuline drugs work by stopping the growth of tumors or cells in the body.
Some of the major players in the somatuline drugs market are IPSEN, IPSEN.
The somatuline drugs market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Somatuline Drugs Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Somatuline Drugs Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Somatuline Drugs Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Somatuline Drugs Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Somatuline Drugs Market Size & Forecast, 2020-2028
4.5.1 Somatuline Drugs Market Size and Y-o-Y Growth
4.5.2 Somatuline Drugs Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 60 mg
5.2.2 90 mg
5.2.3 120 mg
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Pharmacy
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Somatuline Drugs Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Somatuline Drugs Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 60 mg
9.6.2 90 mg
9.6.3 120 mg
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Pharmacy
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 60 mg
10.6.2 90 mg
10.6.3 120 mg
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Pharmacy
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 60 mg
11.6.2 90 mg
11.6.3 120 mg
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Pharmacy
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 60 mg
12.6.2 90 mg
12.6.3 120 mg
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Pharmacy
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 60 mg
13.6.2 90 mg
13.6.3 120 mg
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Pharmacy
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Somatuline Drugs Market: Competitive Dashboard
14.2 Global Somatuline Drugs Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IPSEN
14.3.2 IPSEN
