For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
Octreotide, an octapeptide that mimics natural somatostatin, has been widely used in clinic for the treatment of upper gastrointestinal variceal hemorrhage and stomach ulcer bleeding, acute pancreatitis, endocrine tumors.
First approved to be sold in 1996, Octreotide was developed by Novartis AG under the trade name of Sandostatin. The approved indications at that time were acromegaly, diarrhea and pancreatic cancer. Due to its sure efficacy and various indications, Octreotide has become one of the most highly stressed biosimilar compounds. Octreotide has remained a steady growth ever since its listing and its sales value surpassed USD 1000 million in 2007. Sandostatin's US patent expired in Jun. 2014. Although the generic drug of Octreotide made by Sun Pharmaceutical Industries Ltd got FDA's approval in 2008, Novartis's Octreotide still brought in sales revenue of USD 1589 million in 2013.
After Octreotide made by Novartis entered China in 2004, many local generic drugs came into the market successively. Octreotide has undergone a fast development in China with annual sales value rising from CNY 100 million in 2005 to CNY 466 million in 2014 and CAGR reaching up to 15.8% during the period of 2005-2014. Octreotide enjoys a vast demand in China. Novartis AG (Sweden), Chengdu Tiantaishan Pharmaceutical Co., Ltd, Sinopharm A-THINK Pharmaceutical Co., Ltd, Peking Sunho Pharmaceutical Co., Ltd and Shanghai No.1 Biochemical & Pharmaceutical Co., Ltd all take up certain shares in the Chinese market, among which Novartis AG (Sweden) has the largest market share of over 70%, sales value in 2014 reaching up to CNY 334 million in 2014.
The market size of Octreotide in China is expected to keep growing in the next few years.
Readers can get at least the following information from this report:
- market size of Octreotide in China
- market share of manufacturers of Octreotide in China
- price of Octreotide in Chinese market
- major manufacturers of Octreotide in Chinese market
- market outlook of Octreotide in China
The author suggests the following groups of people purchase this report:
- manufacturers of drugs for endocrine and metabolic regulation
- investors/ research institutions interested in Chinese medicine market
- any interest in the Chinese medicine market, please contact CRI for customized survey service