The global statin market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 3.5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Statin is a lipid-lowering medication, an agent that is consumed by patients to reduce their blood cholesterol levels. Atorvastatin, rosuvastatin, lovastatin and simvastatin are the most common types of statins available in the market. They aid in preventing the instances of atherosclerosis and heart attacks and have significant anti-inflammatory and plaque-stabilizing effects. These drugs also aid in minimizing vascular inflammation and oxidative stress in the body. Besides this, statin interferes with the production of enzymes that are crucial for the liver to produce cholesterol, thus aiding in lowering the overall blood cholesterol levels in the body.
The increasing prevalence of hypercholesterolemia across the globe is among the key factors driving the growth of the market. This disorder is highly prevalent among the geriatric population and individuals suffering from other ailments, such as diabetes, obesity and cardiovascular diseases (CVDs), which is facilitating product adoption across both the developed and emerging nations. Furthermore, increasing consumer preference for over-the-counter (OTC) drugs is another factor contributing to the market growth. In comparison to brand name drugs, OTC variants are usually more affordable. Additionally, the growing adoption of combination therapies that use statin with other cholesterol diminishing compounds, such as ezetimibe, is acting as another growth-inducing factor. Research has found statin-ezetimibe combination therapy to be capable of achieving near-normal lipid profiles in familial hypercholesterolemia patients and significantly reducing the risk of CVDs occurrence. Other factors, including improving healthcare infrastructure and growing health consciousness among consumers, are projected to drive the market further.
IMARC Group’s latest report provides a deep insight into the global statin market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the statin industry in any manner.
Breakup by Type:
Breakup by Therapeutic Area:
Breakup by Drug Class:
Breakup by Application:
Breakup by Distribution:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Abbott Laboratories, AstraZeneca, Aurobindo Pharma, Biocon, GlaxoSmithKline, Merck & Co., Novartis, Pfizer, etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Type, Therapeutic Area, Drug Class, Application, Distribution, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Abbott Laboratories, AstraZeneca, Aurobindo Pharma, Biocon, GlaxoSmithKline, Merck & Co., Novartis and Pfizer|
|Customization Scope||10% Free Customization|
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|Post-Sale Analyst Support||10-12 Weeks|
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