Statins Market (By Product: Atorvastatin, Fluvastatin, Lovastatin, Pravastatin, Rosuvastatin, Simvastatin, Pitavastatin; By Type: Synthetic Statins, Natural Statins; By Therapeutic Area: Cardiovascular Disorders, Obesity, Inflammatory Disorders, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190

The statins market has the value of around US$ 10.5 Bn in 2019 and is projected to experience stable negative growth over the forecast period from 2020 to 2027.

Statins are a class of drugs also known as HMG-CoA reductase inhibitors, prescribed by doctors for lowering cholesterol levels in the blood. As statins block the enzyme in the liver that is responsible for making cholesterol. The enzyme is called hydroxy-methylglutaryl-coenzyme A reductase (HMG-CoA reductase). Lowering cholesterol levels helps in the prevention of heart attacks and stroke. Statins can prevent and treat atherosclerosis that causes chest pain, heart attacks, strokes, and intermittent claudication. Moreover, studies have also stated that statins can reduce the risk of heart attack, stroke, and even death from heart disease by about 25 to 35 percent and can also reduce the chances of recurrent strokes or heart attacks by about 40%. The amount of cholesterol can be determined by a simple blood test.

A study involving 71,444 people in large 19 clinical trials found that 3.0% of people taking statin died from any cause compared to 3.6% of those taking a placebo. Further analysis has also shown that the average risk of dying from heart disease was 1.7% in the placebo group and 1.2% among those taking statins or can say a benefit of 0.5% for those who are taking statins.

Market Dynamics

The rising prevalence of hypercholesterolemia across the globe especially among the geriatric population is supporting the market value. The increasing number of individuals suffering from other ailments like diabetes, obesity and cardiovascular diseases (CVDs) are accelerating the demand across developed and developing economies. The increasing consumer preference for over-the-counter (OTC) drugs also these OTC variants are usually more affordable are the factors contributing to the market value. The growing adoption of combination therapies that use statin with other cholesterol diminishing compounds including ezetimibe are further bolstering the market value. Additionally, the researchers have also found that statin-ezetimibe combination therapy is capable to achieve nearly normal lipid profiles in familial hypercholesterolemia patients and significantly helps in reducing the risk of CVDs occurrence. Furthermore, improving healthcare infrastructure and growing health consciousness among people is further holding up the market.

On the other hand, the side effects associated with the consumption of statin such as headache, nausea, vomiting, constipation, diarrhea, rash, weakness, and muscle pain are estimated to limit the growth during the forecast period.

Segment Instance

North America accounted for the maximum revenue share in the market

In 2019, North America along with its major economies including US and Canada are contributing to the dominating share of the region. The presence of major players along with the major geriatric population base is supporting the regional market value. The presence of major regulation authorities like United States FDA is further contributing to the regional market value.

Asia Pacific is expected to be the emerging market over the forecast period from 2020 to 2027

The increasing strategic expansion of major players in the developing economies of the region including China and India are bolstering the regional market value. The increasing disposable income is propelling the spending power of people significantly bolstering the demand of drug in the market. The rising awareness about the long term effects of bad cholesterol to overall health is further supporting the regional market value.

Key Market Players

The players profiled in the report include Amgen (US), AstraZeneca (UK), Aurbindo Pharma (India), Biocon (India), Concord Biotech (India), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), Pfizer, Inc. (US), and others.

Market Segmentation

Market By Product

Atorvastatin

Fluvastatin (Lescol, Canef, and Vastin)

Lovastatin

Pravastatin (Pravachol)

Rosuvastatin (Crestor)

Simvastatin (Zocor)

Pitavastatin (Livalo)

Market By Type

Synthetic Statins

Natural Statins

Market By Therapeutic Area

Cardiovascular Disorders

Obesity

Inflammatory Disorders

Others

Market By Geography

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa


Frequently Asked Questions

The market for statins is expected to reach a market value of around US$ 10.5 Bn in 2019.

The synthetic statins and natural statins are the segments of statins market based on type.

Atorvastatin, fluvastatin (lescol, canef, and vastin), lovastatin, pravastatin (pravachol), rosuvastatin (crestor), simvastatin (zocor), and pitavastatin (livalo) are the segments of statins market based on product.

The rising prevalence of hypercholesterolemia across the globe especially among the geriatric population, increasing number of individuals suffering from other ailments like diabetes, obesity and cardiovascular diseases (CVDs), increasing consumer preference for over-the-counter (OTC) drugs, growing adoption of combination therapies that use statin other cholesterol diminishing compounds including ezetimibe, the researchers have also found that statin-ezetimibe combination therapy is capable to achieve nearly normal lipid profiles in familial hypercholesterolemia patients and significantly helps in reducing the risk of CVDs occurrence are some of the factors supporting the market value.

Amgen (US), AstraZeneca (UK), Aurbindo Pharma (India), Biocon (India), Concord Biotech (India), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), Pfizer, Inc. (US), and others are some of the prominent players in the statins market.

North America held the highest market share in the statins market

Asia Pacific is expected to be the emerging market over the forecast period

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