Statin application provides a robust approach to manage cardiovascular health by effectively reducing LDL cholesterol levels, a key risk factor for heart disease. Beyond cholesterol control, statins offer benefits such as anti-inflammatory effects, contributing to the stabilization of arterial plaques and the prevention of cardiovascular events like heart attacks and strokes. Widely applicable, statins are prescribed to a diverse range of individuals at risk, including those with diabetes. Their long-term safety, relatively low cost, and proven efficacy make them a cornerstone in cardiovascular disease prevention and management.
According to Data Bridge Market Research analyses, the Global Statin Market, which was USD 15.38 billion in 2022, is expected to reach USD 22.21 billion by 2030 and is expected to undergo a CAGR of 4.70% from 2023 to 2030.
"Rapid Increase in Incidences of Obesity boosts the Market Growth"
The escalating global prevalence of obesity, particularly in countries such as India, Germany, China, U.S., and U.K., is a key driver for the statin market. Obesity is closely linked to elevated cholesterol levels and various health complications, including respiratory problems, diabetes, and increased cardiovascular risk. As the population of overweight and obese individuals continues to rise, there is a corresponding surge in the demand for interventions to manage cholesterol levels. Statins, known for their efficacy in cholesterol reduction, become increasingly adopted as a therapeutic solution. This growing demand for statins, fueled by the expanding rates of obesity and its associated health issues, propels the overall growth of the statin market, presenting pharmaceutical companies with significant market opportunities and increased revenue potential.
What restraints the growth of global statin market?
“Side-effects Associated with the Market Growth”
The side effects associated with statins, such as headache, dizziness, digestive problems, muscle pain, and sleep disturbances, contribute to potential market restraint by affecting patient comfort, adherence, and overall well-being. These adverse effects may lead to dissatisfaction, safety concerns, and reluctance to continue or initiate statin therapy. Gastrointestinal issues, muscle pain, and sleep problems, among others, may result in reduced medication compliance, impacting the growth of the statin market. Balancing the benefits and risks of statin use becomes crucial, and addressing these side effects is essential to enhance patient acceptance and promote sustained usage within the market.
Segmentation: Global Statin Market
The global statin market is segmented on the basis of type, drug class, application and end user.
- On the basis of type, the global statin market is segmented into synthetic statins, natural statins
- On the basis of drug class, the global statin market is segmented into atorvastatin, fluvastatin, lovastatin, rosuvastatin, simvastatin, and pitavastatin
- On the basis of application, the global statin market is segmented into cardiovascular diseases, lifestyle diseases, and others
- On the basis of end user, the global statin market is segmented into hospitals, clinics, and others
Regional Insights: North America region expected to dominate the Global Statin Market
North America dominates the global statin market fueled by a robust healthcare infrastructure, widespread medication use, and a high prevalence of chronic diseases. The region's proactive research initiatives, especially in the pharmaceutical and healthcare sectors, contribute to continuous statin formulations and treatments innovation.
Asia-Pacific region is anticipated to grow significantly during the forecast period of 2023-2030, driven by increased statin use among the elderly, a rising health-conscious population, growing cases of cardiovascular diseases, and an escalating demand for quality healthcare services in the region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-statin-market
The Prominent Key Players Operating in the Global Statin Market Include:
- AstraZeneca (U.K.)
- Pfizer Inc. (U.S.)
- Aurobindo Pharma. (India)
- Amgen Inc. (U.S.)
- GSK plc (U.K.)
- Biocon (India)
- Novartis AG (Switzerland)
- Abbott (U.S.)
- Siemens Healthineers AG (Germany)
- Quidel Corporation (U.S.)
- F. Hoffman-La Roche Ltd. (Switzerland)
- Danaher. (U.S.)
- B.D. (U.S.)
- Trinity Biotech plc (Ireland)
- Instrumentation Laboratory (U.S.)
- Nova Biomedical (U.S.)
- Thermo Fisher Scientific, (U.S.)
- bioMérieux S.A. (France)
- DiaSorin S.p.A (Italy)
- AccuBioTech Co., Ltd. (China)
- Meridian Bioscience (U.S.)
- Terumo Corporation (Japan)
- Grifols, S.A (Spain)
Above are the key players covered in the report, to know about more and exhaustive list of global statin market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Statin Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
