According to latest report by IMARC Group, titled “Statin Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” 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.
Statins are a special class of drugs that are used to lower cholesterol levels in the human body. They work by blocking HMG-CoA reductase, an enzyme that controls cholesterol production in the body. They are administered in a single dose at the evening meal or bedtime. Statins are prescribed by doctors and healthcare workers to lower low-density lipoprotein (LDL) cholesterol levels, thus decreasing mortality in patients with comorbidities. They also lower the risk of heart diseases and stroke, stabilize the plaques on blood vessel walls and reduce blood cholesterol levels.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Statin Market Trends:
The global statin market is primarily driven by the growing prevalence of a desk-bound lifestyle of individuals, along with a decline in healthy lifestyle and diets. There has also been an increase in the demand for statins as an evidence-based treatment for patients suffering from lifestyle-related diseases, such as cardiovascular disorders, diabetes, and hypercholesterolemia.
In addition to this, the increasing requirement for efficient therapy to diminish LDL cholesterol is also propelling the market growth.
Furthermore, factors such as rising preference for over-the-counter (OTC) drugs and the growing adoption of combination therapies of statins with cholesterol diminishing compounds like ezetimibe are fueling the demand for statins across the globe.
Global Statin Market 2021-2026 Analysis and Segmentation:
Competitive Landscape With Key Players :
- Abbott Laboratories
- AstraZeneca
- Aurobindo Pharma
- Biocon
- GlaxoSmithKline
- Merck & Co.
- Novartis
- Pfizer, etc.
Breakup by Type:
- Synthetic Statins
- Natural Statins
Breakup by Therapeutic Area:
- Cardiovascular Disorders
- Obesity
- Inflammatory Disorders
- Others
Breakup by Drug Class:
- Atorvastatin
- Fluvastatin
- Lovastatin
- Pravastatin
- Simvastatin
- Others
Breakup by Application:
- Dyslipidemia
- Others
Breakup by Distribution:
- Hospitals
- Clinics
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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