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U.S. Statin Market – Industry Trends and Forecast to 2031

Pharmaceutical

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U.S. Statin Market – Industry Trends and Forecast to 2031

  • Pharmaceutical
  • Upcoming Report
  • Apr 2024
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

U.S. Statin Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 4.53 USD Billion
Diagram Market Size (Forecast Year) USD 5.10 USD Billion
Diagram CAGR %

Major Markets Players

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U.S. Statin Market, U.S. Statin Market, By Type (Synthetic Statins and Natural Statins), Drug Class (Rosuvastatin, Atrovastatin, Fluvastatin, Simvastatin, Pitavastatin, Lovastatin,  and Others), Therapeutic Areas (Lifestyle Diseases, Cardiovascular Disease, and Others), Gender (Male and Female), Age Group (Adults and Pediatrics), Drug Type (Branded and Generics), Route of Administration (Oral, Parenteral, and Others), End User (Hospital, Clinics, Home Healthcare, Ambulatory Surgical Centers, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, and Others) – Industry Trends and Forecast to 2031.

U.S. Statin Market Analysis and Size

Between 2015-2018, approximately 11.4% of U.S. adults had high total cholesterol. There was no significant difference in high total cholesterol prevalence between men (10.5%) and women (12.1%). The highest prevalence was among adults aged 40–59 (15.7%), compared to 7.5% among those aged 20–39 and 11.4% among those aged 60 and over. Adults aged 60 and over also had a higher prevalence of high total cholesterol than those aged 20–39. There were no significant differences in high total cholesterol prevalence among adults based on race or Hispanic origin.

The U.S. statin market size was valued at USD 4.53 billion in 2023 and is projected to reach USD 5.10 billion by 2031, with a CAGR of 1.5% during the forecast period of 2024 to 2031. 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.

Report Scope and Market Segmentation       

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016 - 2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Type (Synthetic Statins and Natural Statins), Drug Class (Rosuvastatin, Atrovastatin, Fluvastatin, Simvastatin, Pitavastatin, Lovastatin,  and Others), Therapeutic Areas (Lifestyle Diseases, Cardiovascular Disease, and Others), Gender (Male and Female), Age Group (Adults and Pediatrics), Drug Type (Branded and Generics), Route of Administration (Oral, Parenteral, and Others), End User (Hospital, Clinics, Home Healthcare, Ambulatory Surgical Centers, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, and Others)

Countries Covered

U.S.

Market Players Covered

Pfizer Inc. (U.S.), Merck KGaA (Germany), Kowa Pharmaceuticals America, Inc. (U.S.), Dr. Reddy’s Laboratories Ltd (India), Sandoz AG (Germany), Novadoz Pharmaceuticals (U.S.), Accord (U.S.), Althera Pharmaceuticals (U.S.), Sun Pharmaceutical Industries Ltd. (India), Salerno Pharma (Canada), COVIS PHARMA BV (Netherlands), Medicure Inc. (Canada), ESPERION THERAPEUTICS, INC. (U.S.), Lupin (India), Zydus Pharmaceuticals, Inc. (U.S.), AstraZeneca (U.K.), Concord Biotech (India), Biocon (India), Camber Pharmaceuticals, Inc. (U.S.), Ind-Swift Laboratories Ltd. (India), and Teva Pharmaceutical Industries Ltd. (Israel) Top of Form

Market Opportunities

  • Digital Health Technologies
  • Personalized Medicine

Market Definition

Statin is a class of drugs used to lower cholesterol levels in the blood. They work by inhibiting the enzyme HMG-CoA reductase, which plays a central role in the production of cholesterol in the liver. Statins help lower LDL (bad) cholesterol levels and modestly increase HDL (good) cholesterol levels by reducing cholesterol production. This can help reduce the risk of heart disease and stroke in people who have high cholesterol levels.           

Statin Market Dynamics

Drivers

  • Increase Cardiovascular Disease Incidence

Cardiovascular diseases (CVDs) remain a leading cause of mortality worldwide, with high cholesterol levels being a major risk factor. Statins are crucial in managing cholesterol levels, reducing the risk of CVDs, and improving overall cardiovascular health. As awareness grows regarding the importance of cholesterol management, the demand for statins is expected to continue rising and driving the market.

  • Growing Aging Population

The global aging population is more susceptible to cardiovascular diseases, leading to a higher demand for statins as a preventive measure. The increasing life expectancy and the demographic shift towards an older population who seek to manage their cholesterol levels and reduce their risk of heart disease in many countries is fueling the market's growth.

  • Rising Awareness and Screening Programs

Public health initiatives, educational campaigns, and screening programs are raising awareness about the risks of high cholesterol and the benefits of early screening leading to higher diagnosis rates of hypercholesterolemia and increasing demand for statins. Healthcare providers are also more proactive in screening patients for cholesterol levels. This increasing awareness is driving market growth.

Opportunities

  • Personalized Medicine

The concept of personalized medicine offers promising opportunities for the market. Advances in genetic testing and pharmacogenomics allow healthcare providers to tailor statin therapy based on individual genetic profiles, optimizing treatment efficacy and reducing the risk of side effects. By investing in research and development in personalized medicine, companies can develop innovative statin therapies that cater to specific patient populations, opening up new market segments and enhancing patient outcomes.

  • Digital Health Technologies

The integration of digital health technologies such as mobile apps, wearable devices, and telemedicine platforms can enhance patient engagement and adherence to statin therapy. By leveraging these technologies, companies can develop innovative solutions that improve patient outcomes and differentiate their products. In addition, digital health technologies can provide valuable data insights that help healthcare providers personalize statin therapy, further creating opportunities for market growth.

Restraints/Challenges

  • Safety Concerns and Side Effects

While statins are generally well-tolerated, they can cause muscle pain, liver damage, and other adverse effects in some individuals. These safety concerns may lead to patient reluctance to initiate or continue statin therapy, negatively impacting medication adherence and market demand. Safety concerns and the potential for adverse side effects associated with statin therapy present a notable challenge for the market.

  • Stringent Regulatory Requirements

Regulatory agencies impose rigorous standards for the approval, manufacturing, and marketing of statin drugs, necessitating substantial investment of time and resources by pharmaceutical companies. Delays in regulatory approvals, compliance issues, and evolving regulatory landscapes can disrupt product launches, limit market access, and increase development costs, which is a challenge for 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.

Recent Developments

  • In December 2023, AstraZeneca disclosed a potential collaboration with the world's largest pharmaceutical company, aiming to leverage genAI technology to accelerate the discovery of new cancer treatments   
  • In July 2023, Biocon revealed the successful integration of the Viatris biosimilars business into more than 70 countries in emerging markets. This move has expanded the scale and reach of Biocon's operations
  • In June 2023, Aurobindo Pharma announced that its wholly owned subsidiary, Eugia Pharma Specialities Ltd., has entered into a voluntary sub-licensing agreement with the Medicines Patent Pool (MPP) for the development and commercialization of an anti-cancer medication

Statin Market Scope

The U.S. statin market is segmented into type, drug class, therapeutic areas, gender, age group, drug type, route of administration, end user and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

 Type

  • Synthetic Statin
  • Natural Statin

Drug Class

  • Rouvastatin
  • Atorvastatin
  • Fluvastatin
  • Simvastatin
  • Pitavastatin
  • Lovastatin
  •  Others

Therapeutic Areas

  • Lifestyle Diseases
  • Cardiovascular Diseases
  • Others

Gender

  • Male
  • Female

Age Group

  • Adult
  • Pediatric

Drug Type

  • Branded
  • Generics

Route of Administration

  • Oral
  • Parenteral
  • Others

End User

  • Hospital
  • Clinics
  • Home Healthcare
  • Ambulatory Surgical Centers
  • Others

Distribution Channel

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy
  • Others

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 2016-2021.

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 the market.

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

  • Pfizer Inc. (U.S.)
  • Merck KGaA (Germany)
  • Kowa Pharmaceuticals America, Inc. (U.S.)
  • Dr. Reddy’s Laboratories Ltd (India)
  • Sandoz AG (Germany)
  • Novadoz Pharmaceuticals (U.S.)
  • Accord (U.S.)
  • Althera Pharmaceuticals (U.S.)
  • Sun Pharmaceutical Industries Ltd. (India)
  • Salerno Pharma (Canada)
  • COVIS PHARMA BV (Netherlands)
  • Medicure Inc. (Canada)
  • ESPERION THERAPEUTICS, INC. (U.S.)
  • Lupin (India)
  • Zydus Pharmaceuticals, Inc. (U.S.)
  • AstraZeneca (U.K.)
  • Concord Biotech (India)
  • Biocon (India)
  • Camber Pharmaceuticals, Inc. (U.S.)
  • Ind-Swift Laboratories Ltd. (India)
  • Teva Pharmaceutical Industries Ltd. (Israel) Top of Form


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FREQUENTLY ASK QUESTIONS

The U.S. Statin Market size will be worth USD 5.10 billion by 2031.
The U.S. Statin Market growth rate will be 1.5% by 2031.
The Increase Cardiovascular Disease Incidence and Growing Aging Population are the growth drivers of the U.S. Statin Market.
The type, drug class, therapeutic areas, gender, age group, drug type, route of administration, end user and distribution channel are the factors on which the U.S. Statin Market research is based.
The major companies in the U.S. Statin Market are Pfizer Inc. (U.S.), Merck KGaA (Germany), Kowa Pharmaceuticals America, Inc. (U.S.), Dr. Reddy’s Laboratories Ltd (India), Sandoz AG (Germany), Novadoz Pharmaceuticals (U.S.), Accord (U.S.), Althera Pharmaceuticals (U.S.), Sun Pharmaceutical Industries Ltd. (India), Salerno Pharma (Canada), COVIS PHARMA BV (Netherlands), Medicure Inc. (Canada), ESPERION THERAPEUTICS, INC. (U.S.), Lupin (India), Zydus Pharmaceuticals, Inc. (U.S.), AstraZeneca (U.K.), Concord Biotech (India), Biocon (India), Camber Pharmaceuticals, Inc. (U.S.), Ind-Swift Laboratories Ltd. (India), and Teva Pharmaceutical Industries Ltd. (Israel) Top of Form.
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