SEATTLE, July 18, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global triptorelin market size was valued at US$ 426.4 million in 2017, and is projected to exhibit a CAGR of 5.2% over the forecast period (2018 – 2026).

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Key Trends and Analysis of the Triptorelin Market:

Increasing research and development in triptorelin for applications in various therapeutic indications, by private manufacturers and research organizations is expected to drive growth of the market. Currently, various clinical trials are undergoing to expand the potential future application of triptorelin in breast cancer and Human Immunodeficiency Virus (HIV). Furthermore, wide application of triptorelin in prostate cancer, salivary gland cancer, and central precious puberty are expected to fuel growth of the market during forecast period.   

Furthermore, pharmaceutical manufacturers of triptorelin products are updating their product portfolio by implementing inorganic growth strategies to sustain their foothold in the market. In August 2016, Teva Pharmaceutical Industries Ltd. completed acquisition of Allergan’s generics business: Actavis Generics. This strategic accusation combine two leading generic business with complementary strengths, research and development (R&D) capabilities, product pipeline and portfolio, operational expertise and also help to harness geographical footprint capabilities.

Furthermore, key players in the market are engaged in expanding their product portfolio in various geographical areas. For instance, in October 2017, Arbor Pharmaceuticals, LLC and Debiopharm International SA made commercially available Triptodur (triptorelin), in the U.S. for the treatment pediatric patients two years and older diagnosed with Central Precocious Puberty (CPP). Moreover, in January 2016, both the companies jointly announced the execution of a distribution agreement for the commercialization and promotion of triptorelin 22.5 mg in the U.S. for central precocious puberty (CPP).  

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/triptorelin-market-1963

Key Market Takeaways:

• Triptorelin market is projected to witness CAGR of 5.2% during the forecast period (2018 – 2026), owing to increasing adoption of triptorelin to effectively suppress gonadotropin among patients suffering from prostate cancer and Central Precocious Puberty (CPP).   

• High prevalence of prostate cancer and salivary gland cancer is expected to propel demand for triptorelin products. For instance, according to World Cancer Research Fund International (WCRF), 2012 data finding, more than 1.1 million cases of prostate cancer were recorded in 2012, accounting for around 15% of all cancer cases registered in men, for the same year.

• Major players operating in the global triptorelin market include Ipsen, Allergan plc. Bachem, Ferring Pharmaceuticals Pvt Ltd., Chengdu Tiantaishan pharmaceutical Co., Ltd., Tecnofarma, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd. (Actavis Specialty Pharmaceuticals Co.), Debiopharm Group, and Arbor Pharmaceuticals, LLC.

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