Statin Market Size 2024-2028

The statin market size is estimated to grow by USD 2.62 billion at a CAGR of 3.2% between 2023 and 2028. The market for cardiovascular medications is gaining momentum driven by the increasing prevalence of hypercholesterolemia and the rising risk factors associated with cardiovascular diseases. Moreover, the growing consumer preference for over-the-counter (OTC) medications offers both opportunities and challenges for industry players. Challenges include navigating stringent regulatory frameworks and addressing potential side effects associated with statins, a commonly prescribed medication for managing cholesterol levels. However, meeting the demand for diverse remedy options remains crucial. Despite obstacles, there are opportunities to capitalize on the expanding market, driven by the rising awareness of cardiovascular health and the growing demand for accessible healthcare solutions. Industry stakeholders must navigate regulatory complexities while innovating to develop safe and effective remedies to address the evolving needs of consumers.

Cardiovascular diseases are the most common cause of death globally. Hypercholesterolemia is a modifiable risk factor for cardiovascular diseases, and the rising prevalence of hypercholesterolemia increases the risk of acquiring cardiovascular diseases of atherosclerotic origin. Atherosclerosis, which affects the blood vessels that supply the heart, is a major, life-threatening condition. This is a major cause of coronary artery disease, characterized by plaque forming in the arteries or vessels. Since cholesterol is mainly a contributing factor to the formation of plaques, elevated levels of cholesterol in your blood are linked to an increased risk of developing atherosclerosis. Hypercholesterolemia gives a positive view because of its rising prevalence.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

In the realm of pharmaceuticals, statins stand out as a cornerstone for managing cholesterol levels and mitigating cardiovascular risks, particularly among overweight and obese individuals facing heightened health concerns. This vital pharmaceuticals drug class extends its reach to patients grappling with respiratory problems, such as those with acute diseases or those navigating complex surgical interventions like heart transplant or lung transplantation. Moreover, cardiac transplant patients, recipients of heart valve surgery, or individuals undergoing procedures like pulmonary resection and thoracic aortic aneurysm repair find significant therapeutic support in statins. Rooted in the realm of biochemistry, these medications, derived from both natural sources like compactin and through biotransformation, exert their beneficial effects by inhibiting cholesterol biosynthesis enzymes, thereby enhancing cardiovascular health. Effective market segmentation of statins acknowledges the diverse patient populations benefiting from their cardioprotective properties, ensuring tailored approaches for improved healthcare outcomes.

End-user Analysis

The market share growth by the hospitals segment will be significant during the forecast period. Hospitals are an integral part of the healthcare system and contribute significantly to the growth of the global market. Hospitals are responsible for the procurement, storage, and distribution of medicinal products to patients in the hospital. Hospitals typically purchase statins in bulk directly from manufacturers or wholesalers, which allows for cost savings and ensures a steady supply of medications.

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The hospitals segment was valued at USD 8.62 billion in 2018. Hospitals are also responsible for ensuring that patients receive the correct medications and dosages, which improves patient outcomes and reduces the risk of adverse events. Clinical trials and research in the area of statin are also key roles played by hospitals. In order to ensure that patients are receiving the correct and timely treatment for their heart condition, hospitals frequently work closely with healthcare providers. Hence, such factors are fuelling the growth of this segment during the forecast period.

Type Analysis

Synthetic statins held the largest share of the global market in 2023. Fluvastatin and atorvastatin are fully synthetic variants, derived from pyridine and mevalonate, respectively. Synthetic variants form greater interactions with HMG-CoA reductase because of their structural characteristics compared with natural variants. The growth of the synthetic statins segment is primarily driven by the high prevalence of cardiovascular diseases. The improving healthcare service framework in rapidly evolving countries such as India and China is creating huge opportunities for market players operating in the global market. Additionally, the segment is currently witnessing a surge in the older population with cardiovascular problems. The growing geriatric population with chronic health conditions is anticipated to impose extensive implications on the public health system. 

Regional Analysis

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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The high share is attributed to the presence of large pharmaceutical companies that offer both branded and generic variants and the presence of a proper regulatory framework for the approval of new drugs in the region. In addition, the region is experiencing rising incidences of cardiovascular diseases and thus leading to an increase in demand for different variants contributing to market growth. The incidence of cardiovascular disease has increased significantly in various countries of North America. Certain cardiovascular or heart diseases lead to heart failure. Hence, such factors are driving the market in North America during the forecast period.

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Key Market Players 

companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:

Abbott Laboratories - The company offers statin medical drug which is designed to protect the heart and blood vessels from serious medical problems such as heart attack or stroke.

• Amgen Inc.
• AstraZeneca Plc
• Aurobindo Pharma Ltd.
• Biocon Ltd.
• Concord Biotech Ltd.
• Merck and Co. Inc.
• Novartis AG
• Pfizer Inc.
• Thermo Fisher Scientific Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

Statins represent a pivotal market driver in pharmaceuticals, particularly amid rising concerns over cardiovascular health. With an increasing prevalence of overweight and obese individuals, along with a surge in acute respiratory diseases, the demand for statins continues to grow. Emerging trends indicate expanded usage among recipients of heart and lung transplants, as well as patients undergoing heart valve surgery or thoracic aortic aneurysm repair. However, challenges persist, including optimizing dosing regimens for diverse patient populations and addressing concerns regarding adverse effects. Additionally, harnessing natural statins like compactin presents opportunities amidst biotransformation complexities.

Key Market Drivers

The rising prevalence of hypercholesterolemia is driving growth in the market. Cardiovascular disease is the leading cause of death worldwide. Hypercholesterolemia is a modifiable risk factor for cardiovascular disease, and the increased prevalence of hypercholesterolemia increases the risk of developing cardiovascular disease of atherosclerotic origin. Abdominal Atherosclerosis is a serious medical condition, affecting arteries that carry blood to the heart. It is the main cause of coronary artery disease and is characterized by the presence of plaque inside the artery wall or vessel wall. the use of natural language processing (NLP) positively impacts the market. The build-up of plaque inside the artery walls makes them narrow and decreases blood flow.

Cholesterol is the primary component of plaque and therefore, elevated cholesterol levels in the blood are associated with a higher risk for atherosclerosis. Cholesterol is a fat available in the blood and consists of two types: low-density lipoproteins (LDLK); higher density lipoproteins (HDL). The global market is expected to benefit from the rising prevalence of hypercholesterolemia as it will lead to an increased incidence of atherosclerosis, which, in turn, will induce the growth of the market during the market forecast period.

Significant Market Trends

The strong incidence of CHD is a primary trend in the market.  The growing incidence of heart attacks is expected to have a positive impact on the global market, which is expected to increase demand during the forecast period. In terms of overall health status, heart health, and management of comorbid conditions, it is increasingly difficult to maintain functional capacity in old people.  Physical activity is vital to preserve functional ability and decrease frailty, which are common characteristic traits of people with heart disease. Physical activity helps in maintaining the cardiac muscles, and the elasticity of blood vessels, normalizing blood pressure, and improving physical strength and balance.

However,  physical activity, which is aimed at improving flexibility, mobility, and muscular strength, forms the basic foundation for chronic disease management programs such as heart or stroke rehabilitation programs. The rise in the number of geriatrics people increases the heart of the disease and BV, which leads public healthcare professionals to rely on medication regime management to maintain the geriatric people's quality of life.  The growing incidence of CHD is expected to boost the growth of the global market during the forecast period.

Major Market Challenges

The stringent regulatory environment is a major challenge in the market.  In order to guarantee high levels of sterility and uniformity, most drug development and approval procedures shall be subject to strict control by a variety of regulatory authorities. These regulatory bodies are examining a number of important factors, such as safety, effectiveness, pharmacological data, pharmacodynamic effects, and interactions. Therefore, if a drug fails to comply with any of these criteria, it is likely to receive a complete response letter (CRL) or may face complete rejection from regulatory agencies.

In some cases, drug applicants withdraw their applications and discontinue their drug candidates. There are typically three phases of clinical trials for a drug. The US Food and Drug Administration may require further information or call off a clinical trial if serious safety, efficacy, or tolerability concerns are identified during any stage of the clinical or animal studies. Upon successful completion of all three phases of clinical trials, the applicant is required to submit a new drug application (NDA) to the US FDA. Such stringent regulatory guidelines will hamper the growth of the market during the forecast period.

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Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• End-user Outlook
  • Hospitals
  • Clinics
  • Others

• Type Outlook 
  • Synthetic statin
  • Natural statin

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • ROW
    • Chile
    • Argentina
    • Australia 

You may also interested in below market reports:

• Cardiovascular Therapeutics Market: Cardiovascular Therapeutics Market Analysis Asia, North America, Europe, Rest of World (ROW) - US, Mexico, Russia, China, India - Size and Forecast
• Geriatric Medicines Market: Geriatric Medicines Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, China, India - Size and Forecast
• Atherosclerosis Therapeutics Market: Atherosclerosis Therapeutics Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, UK, China, Germany - Size and Forecast

Market Analyst Overview

The market remains a cornerstone in pharmaceuticals, combating vascular inflammation and oxidative stress prevalent in chronic diseases like obesity and diabetes. Key players such as Lovastatin, Rosuvastatin, and Simvastatin continue to dominate, offering effective cholesterol management for diverse patient demographics, including heart transplant recipients and geriatric populations. Despite their efficacy, common side effects such as headache, fatigue, and digestive disturbances including constipation, indigestion, and farting pose challenges. Healthcare facilities strive to balance quality healthcare while addressing these concerns, often opting for alternatives like Pravastatin to mitigate adverse effects. Muscle pain, diarrhea, and sleep disturbances further necessitate continuous innovation in dosage forms and delivery methods, ensuring optimal patient compliance and outcomes in combating high cholesterol and promoting cardiovascular health.

The Statin Market remains pivotal in addressing cardiovascular health amidst the backdrop of modern lifestyles. Pharmaceutical drug such as statins play a crucial role in managing cholesterol levels, yet some patients may experience side effects like feeling sick, tiredness, weakness, dizziness, and digestive system problems, especially prevalent in geriatric populations. Sleep problems and low blood platelet count further underscore the complexities of treatment. Despite challenges, ongoing research aims to refine formulations and dosages to enhance tolerability and efficacy. Tailoring interventions for specific demographics, particularly the elderly, demands a nuanced approach in healthcare delivery. By addressing adverse effects and optimizing therapeutic outcomes, the statin market continues to evolve, ensuring quality care for individuals combating cardiovascular disease in diverse lifestyle contexts.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2028
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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