Report Code: A14383 | Pages: NA | Mar 2023 | 796 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Octreotide Market
Request Now !Octreotide is an amino acid monomer attached to the amide group. It acts similar to the hormone somatostatin. Octreotide lowers a variety of hormones such as glucagon, insulin, growth hormone, and others. Octreotide helps reduce chemical messengers such as a vasoactive intestinal peptide, gastrin that causes disease symptoms.
Octreotide depending on the severity helps in acromegaly, diarrhea, as well as to treat flushing in patients with tumors. It is also used for the reduction of side effects caused due to cancer chemotherapy. Octreotide is predicted to grow mainly because of the rise in the number of individuals diagnosed with diarrhea, cancer, and tumors.
COVID-19 Scenario Analysis:Â
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Demand for octreotide is been driven due to the rise in the number of people under-diagnosis of cancer. In 2012, it was estimated that there are 14.1 million cases of cancer. It was predicted that by 2035, the number of individuals suffering from cancer will be nearly 24 million. Thus, the estimate states that the demand for drugs like octreotide for the treatment will increase.
According to available sources, 2200 children die every year because of severe diarrhea, more than measles, malaria and AIDS as per the World Health Organization. Therefore, it is proved important to tackle the challenges of the world by supplying adequate octreotide drugs for the suffering individuals. The use of octreotide in radiolabelling will increase the demand for octreotide sustainably.Â
The rise in the popularity of generic drugs is predicted to affect the consumption of branded medications. The generic drug's availability is predicted to grow due to cost factors and thus will affect the overall pharmaceutical sector if not restructured as per the needs of the consumer and the market.
The restraining factor for the octreotide market is the lack of research on octreotide in pregnant women, children, and lactating mothers. Thus, octreotide use is based on the risk factor, which might affect octreotide consumption.
North America is likely to hold the market due to the rise in research and development activities, key manufactures in the region, increased health expenditures which contributes to the significant growth of the market of Octreotide. Asia-Pacific followed by Europe is likely to show rapid demand for octreotide over the years to come due to new research and development activities on octreotide.
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Questions Answered in the Octreotide Market Research Report:
Octreotide Market Report Highlights
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Key Market Players | Novartis pharmaceuticals corp., App pharmaceuticals llc, Bedford laboratories div ben venue laboratories Inc, Sun pharmaceutical industries ltd., Sinopharm A-THINK Pharmaceutical Co., Ltd, Teva parenteral medicines Inc, Neiss Labs Pvt. Ltd., Samarth Pharma Pvt. Ltd, J.B. Chemicals and Pharmaceuticals Ltd. |
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