Statin Market Size, Share, Growth, And Industry Analysis By Type (Atorvastatin (Lipitor & others), Fluvastatin (Lescol, Canef, and Vastin), Lovastatin (Mevacor & others), Pravastatin (Pravachol), Rosuvastatin (Crestor), Simvastatin (Zocor), Pitavastatin (Livalo)), By Application (Cardiovascular Diseases (heart strokes & attacks), Lifestyle diseases (obesity, diabetes, and inflammation), Others) and Regional Forecast to 2027

Updated On: 08 April 2024

statin market Report Overview

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The global statin market size was USD 13285.76 million in 2021 and is expected to reach USD 18450.65 million by 2027, exhibiting a CAGR of 5.63% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the statin market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Statins are drugs recommended to patients to lower cholesterol in the body. It can be enjoyed by high-risk patients and patients suffering from the adverse effects of high cholesterol. These drugs also help reduce blood vessel inflammation and oxidative stress in the body. Atorvastatin, lovastatin, rosuvastatin and simvastatin are the most common statins. Increasing incidence of cholesterol due to changing lifestyles is expected to increase the demand for statins worldwide. Rapid urbanization leads to cholesterol-related disorders and ensures a high demand for statins. High cholesterol awareness and technologically advanced health management conveniences are forcing various manufacturers to increase the production of statins.

Increasing incidence of cholesterol due to changing lifestyles is expected to increase the demand for statins worldwide. Rapid urbanization leads to cholesterol-related disorders and ensures a high demand for statins. High cholesterol awareness and technologically advanced health management conveniences are forcing various manufacturers to increase the production of statins. Rapid urbanization causes cholesterol-related diseases and ensures continued demand for statins. Awareness about cholesterol and technologically advanced health management services are some of the important factors behind the growth of the market.

COVID-19 Impact: Demand for statins has increased during COVID-19 has boosted the market growth

The removal of conditions, subsequent rescheduling of patient visits to clinics and the introduction of contactless delivery of biotherapies increased the demand for statins in 2021 and accelerated the growth of the regional market in the region. In addition, the demand for statins has increased because more than half of all deaths in the region are caused by cardiovascular disease. All these factors are expected to boost the growth of the regional market during the forecast period.

Latest Trends

"Prevalence of chronic diseases leading market extension"

Currently, the prevalence of chronic diseases such as diabetes, obesity and cardiovascular disease among the masses across the globe is one of the major factors influencing the growth of the market. Additionally, growing demand for statins among people for various cholesterol-related disorders offers a positive market outlook. In addition, global demand for affordable and effective cholesterol-preserving solutions is increasing. This along with a healthy environment improving healthcare infrastructure across the world is supporting the growth of the market. In addition, rising levels of bad cholesterol due to people's eating and sitting habits are boosting the growth of the market. Moreover, growing demand for statins due to increasing consumer awareness to maintain a healthy lifestyle offers lucrative growth opportunities for industry investors. Additionally, increasing use of statins in heart valve surgery, lung resection, lung transplantation and thoracic aortic aneurysm repair is supporting market growth. Moreover, the increased use of statin as a combination therapy with other cholesterol-lowering compounds will boost the market growth.

statin market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Atorvastatin (Lipitor & others), Fluvastatin (Lescol, Canef, and Vastin), Lovastatin (Mevacor & others), Pravastatin (Pravachol), Rosuvastatin (Crestor), Simvastatin (Zocor), Pitavastatin (Livalo). Atorvastatin (Lipitor & others) is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Cardiovascular Diseases (heart strokes & attacks), Lifestyle diseases (obesity, diabetes, and inflammation), others. Cardiovascular Diseases (heart strokes & attacks) will be the dominating segment.

Driving Factors

"Increase in obesity and growing population base of overweight boost the market growth"

The growing population base of overweight and obese people across the world is one of the major factors driving the growth of the statin market. India, Germany, China, the United States and the United Kingdom are the fattest population bases in the world. Obesity causes various problems in the body such as respiratory problems, diabetes, high cholesterol and other chronic and acute diseases. This increasing obesity is leading to increased use of statins. Hence this factor leads to market growth. The increasing prevalence of hypercholesterolemia is accelerating the growth of the statin market. Abdominal atherosclerosis is a serious disease that affects the arteries that carry blood to the heart. It is the main cause of coronary artery disease and is characterized by the presence of plaque in the arterial wall or vessel wall. Plaque buildup in the walls of arteries narrows them and reduces blood flow.

"Addition of the R&D sector to the newer development of statins boost the market growth"

Increasing R&D spending, especially in developed and developing economies, leading to medical instruments and devices, continues to create growth opportunities for the market. Studies have shown that statin-ezetimibe combination therapy can achieve near-normal lipid profiles and significantly reduce the risk of cardiovascular disease in patients with familial hypercholesterolemia. Therefore, this factor accelerates the statin market growth. The high incidence of coronary artery disease is an important trend in the statin market. The rise in heart attacks is expected to have a positive impact on the global statin market, driving the demand for statins during the forecast period. In terms of general health, heart health and treatment of other diseases, it is increasingly difficult to maintain the functional capacity of the elderly. Physical activity is essential to maintain functional capacity and reduce the frailty that characterizes people with heart disease. Physical activity helps maintain the elasticity of heart muscles and blood vessels, normalize blood pressure and improve physical strength and balance.

Restraining Factors

"Side effects of statins and high cost of the product restrict market growth"

In addition to all the favorable factors associated with statins, there are also some side effects. Effects include headache, nausea, unusual tiredness or physical weakness, dizziness, indigestion, constipation, indigestion or farting, muscle pain, diarrhea, trouble sleeping, and low platelets. Therefore, these factors hinder the growth of the market. However, the high cost of statins and side effects associated with their use such as muscle pain and weakness, liver damage and increased risk of diabetes are some of the factors that may limit the growth of the market globally. Additionally, the availability of alternative therapies such as non-statin lipid-lowering agents may also hinder the statin market growth.

statin market Regional Insights

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"North America will be the dominating region due to presence of prominent healthcare providers during projection period"

The North America region held a dominant position in 2022 and is projected to continue its dominant statin market share during the forecast period. The growth of the market is driven by the number of people suffering from various cardiovascular diseases and prominent healthcare providers. Increasing prevalence of obesity, cardiovascular disease and diabetes among the elderly population is expected to increase the demand for effective treatment of high cholesterol. In America, majority of American adults suffer from low LDL cholesterol. The American College of Cardiology and the American Heart Association announced that people with at least a 7.5% risk of heart attack should be prescribed statins, which is expected to double the use of statins in the U.S. and Canada. Statins market has proved to be a lucrative and lucrative market area for the major players in the region. The consumption of statins is high among geriatrics, which is expected to boost the growth of the market in the near future.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• GlaxoSmithKline plc (U.K.)
• Merck & Co., Inc (U.S.)
• Pfizer, Inc (U.S.)
• Aurbindo Pharma (India)
• Amgen (U.S.)
• AstraZeneca (U.K.)
• Concord Biotech (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.