Global Statin Market – Industry Trends and Forecast to 2030

Global Statin Market, By Type (Synthetic Statins, Natural Statins), Drug Class (Atorvastatin, Fluvastatin, Lovastatin, Rosuvastatin, Simvastatin, and Pitavastatin), Application (Cardiovascular Diseases, Lifestyle Diseases, Others), End User (Hospitals, Clinics, and Others) – Industry Trends and Forecast to 2030.

Statin Market Analysis and Size

An increase in the incidence of cholesterol because of changing lifestyle are anticipated to surge the demand for statins globally. The fast pace of urbanization leads to cholesterol-related disorders and assures the high demand for statins. Much awareness about cholesterol and technologically advanced health administration amenities are pushing different manufacturers to increase the production of statins.

Data Bridge Market Research analyses that the statin market, which was USD 15.38 billion in 2022, would rise to USD 22.21 billion by 2030 and is expected to undergo a CAGR of 4.70% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Statin Market Scope and Segmentation

Market Definition

Statins are the type of pharmaceutical drug advised to patients to reduce the cholesterol level in their bodies. It can be consumed by high-risk patients and patients suffering from the ill effects of high cholesterol. These drugs also help reduce vascular inflammation and oxidative stress in the body. Atorvastatin, lovastatin, rosuvastatin, and simvastatin are the most common statins.

Global Statin Market Dynamics

Drivers

• Increasing Incidence of Obesity

The increasing population base of overweight and obese individuals worldwide is one of the main factors boosting the market growth. India, Germany, China, the U.S., and the United Kingdom have the most obese population base in the world. Obesity leads to various problems in the body, such as respiratory problems, diabetes, high cholesterol levels, and other chronic and acute diseases. This increasing rate of obesity leads to the higher adoption of statins. Thus, this factor leads to the growth of the market.

• Adoption of Statins in Cardiac Surgeries

Many studies have witnessed statins associated with one life saved for every 8.5 heart transplant recipients treated for one year. Further, routine statin treatment in cardiac transplant patients might potentially save 471 lives every year among the 4000 heart transplantation operations performed globally. The results from numerous studies state that statins may also play a major role in heart valve surgery, pulmonary resection, lung transplantation, and thoracic aortic aneurysm repair. Thus. This factor leads to the growth of the market size.

Opportunities

• Increase in R&D Sector for Newer Statin Development

Increasing expenditure for research and development, particularly in the developed and developing economies leading to medical instruments and devices, will further create growth opportunities for the market. Research has found that statin-ezetimibe combination therapy can achieve near-normal lipid profiles in familial hypercholesterolemia patients and considerably decrease the risk of CVDs rate. Thus, this factor boosts market growth.  

• Increasing Development of Drugs

There is a growing development of statin types that cause market growth. Natural statins are lovastatin and compactin, whereas pravastatin is derived from the latter by biotransformation. Simvastatin, another leading statin in the market, is a lovastatin semisynthetic derivative. Several advances in the biochemistry of lovastatin have enabled the development of new methods for the production of simvastatin. Thus, this factor boosts market growth.

Restraints/Challenges

• Side-Effects of Statins

Besides all the advantageous factors associated with statins, it also holds some side effects. Effects include headache, feeling sick, unusually tired or physically weak, dizziness, digestive system problems, constipation, indigestion or farting, muscle pain, diarrhea, sleep problems, and low blood platelet count. Therefore, these factors hamper the market growth.

This statin market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the statin market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Statin Market Scope

The statin market is segmented on the basis of type, drug class, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Synthetic
•  Natural

Drug Class

• Atorvastatin
• Lipitor
• Others
• Fluvastatin
• Lescol
• Canef
• Vastin
• Lovastatin
• Mevacor
• Others
• Rosuvastatin
• Crestor
• Simvastatin
• Zocor
• Pitavastatin
• Livalo

Application

• Cardiovascular Diseases
• Heart strokes
• Attacks
• Lifestyle Diseases
• Obesity
• Diabetes
• Inflammation
• Others

End User

• Hospitals
• Clinics
• Others

Statin Market Regional Analysis/Insights

The statin market is analyzed and market size insights and trends are provided by type, drug class, application and end user as referenced above.

The countries covered in the statin market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the global statin market during the forecast period. The market is expected to enhance due to the strong base of healthcare facilities, huge utilization of medications, increasing incidences of chronic diseases such as high cholesterol, obesity, diabetes, and heart attacks, and an increasing number of research activities in this region.

Asia-Pacific is expected to gain the fastest CAGR from 2023 to 2030 because of the consumption of statins among geriatrics.  Also, the growing number of health-conscious people within the region, the increase in cases of cardiovascular diseases, and the rising demand for quality healthcare in the region increase the market growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The statin market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for statin market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the statin market. The data is available for historic period 2011-2021.

Competitive Landscape and Statin Market Share Analysis

The statin market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to statin market.

Some of the major players operating in the statin market are:

• 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)