Global Statin Market was valued US$ xx Mn in 2019 and is expected to reach US$ xx Mn by 2027, at a CAGR of 3 % during a forecast period.
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Statins are used for prevention and treatment for atherosclerosis, which causes chest pain, heart attacks, and strokes. It is mostly prescribed to lower down the low density lipoprotein cholesterol in the body and helps to reduce mortality in high risk patients.
Global Statin Market, Dynamics:
An increase in prevalence of cholesterol due to changing lifestyle are expected to increase the demand for statins across the globe. Sedentary lifestyle across the developed regions is one of the key drivers of the global statin market. The bad cholesterol is difficult to manage by diet and exercise, the statins are highly recommended to treat the condition. In addition, Cholesterol awareness campaigns and technologically advanced health care facilities are increasing the demand for statins. The rapid pace of urbanisation is leading to cholesterol-related disorders and ensuring sustained demand for statins. Cholesterol consciousness and technologically forward health administration amenities are some of the prominent factors behind the market growth.
Despite the presence of the prominent driving factors, the requirement for adequate remedy options serves is expected to limit the global station market. The cultural and commercial agents and Side effects of statins are also expected to hamper the growth of the statin business.
Global Statin Market, Segment Analysis:
In the global statin market, there are many different statin molecules like simvastatin, pravastatin, lovastatin and atorvastatin are present. The Simvastatin, lovastatin and pravastatin together have annual sales of more than $10 Bn globally. Among these, Lovastatin is already off patent across the globe and simvastatin and pravastatin are off patent in Europe.
High low-density lipoprotein cholesterol is one of the modifiable risk factors for atherosclerotic cardiovascular disease. An increase in the number of patients, who are suffering from cardiovascular diseases are expected to increase the demand for statins across the globe. In the U.S., One person dies every 36 seconds from cardiovascular disease. It statins are widely used to reduce adverse cardiovascular outcomes. Despite the older individuals have the highest absolute risk for atherosclerotic cardiovascular disease, the US guidelines for blood pressure and cholesterol have recommended lower-intensity treatment strategies that are expected to drive the market growth.
The Hospitals segment is expected to hold the dominant position in the global statin market. The dominant position in the market is attributed to the increased requirement for treatment of cardiovascular disorders and inflammatory disorders treatments. The healthcare providers are focusing on the enhancement of the patient admission capacities at hospitals, number of medical professionals and availability of the drugs for reduction of the cholesterol.
Global Statin Market, Regional Analysis:
North America region held the dominant position in 2019 and is projected to continue its dominance during the forecast period. The market growth attribute to the presence of the number of cardiovascular disorders affected people and prominent healthcare service providers. An increase in occurrence of obesity, cardiovascular diseases and diabetes among old populations are expected to drive the demand for effective treatment of high cholesterol. In America, more than 70% American adults are suffering from LDL cholesterol. The American College of Cardiology and the American Heart Association have announced the guidelines that people with 7.5% or higher risk for heart attack have to be prescribed statins, which is expected to double statin usage in the US and Canada. The statins market has proved to be a lucrative and profitable market for the key players in the region. Consumption of statins is high among geriatrics population that is expected to boost the market growth in the near future.
Global Statin Market, Competitive Analysis:
Some of the prominent key players like Abbott, AstraZeneca and Aurobindo Pharma are expanding their market presence across the globe by establishing strong distribution networks, mainly in developing countries. Furthermore, Indian pharmaceutical companies are also exciting to get a foothold in the global statins market. For instance, Big Indian pharmaceutical companies like Ranbaxy Laboratories and Lupin Laboratories are concentrating to form the their footprint in the statins market. The Indian key players are expect to take benefits by marketing statin generics.The objective of the report is to present a comprehensive analysis of the Global Statin Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Statin Market dynamics, structure by analyzing the market segments and projects the Global Statin Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Statin Market make the report investor’s guide.
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Global Statin Market, By Drug Class
• Astrovastatin
• Fluvastatin
• Lovastatin
• Pravastatin
• Simvastatin
• Others
Global Statin Market, By Therapeutic Treatment
• Cardiovascular disorders
• Obesity
• Inflammatory disorders
• Others
Global Statin Market, By End User
• Hospitals
• Clinics
Global Statin Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Statin Market
• Abbott
• AstraZeneca
• Aurobindo Pharma
• Biocon
• GlaxoSmithKline
• Merck & Co.
• Novartis
• Pfizer
• Bayer
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