Statin Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Synthetic statin, Natural statin), By End-user (Hospitals & Clinics, Ambulatory Surgical Centers, others), by region, and Competition

  • Industry : Healthcare
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 2668.20 million

CAGR (2023-2028)

2.90%

Fastest Growing Segment

Synthetic statin Segment

Largest Market

North America

 

Market Overview

Global Statin Market has valued at USD 2668.20 million in 2022 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 2.90% through 2028. Statins were widely used pharmaceuticals for managing cholesterol levels and reducing the risk of cardiovascular diseases. The market for statins had been experiencing steady growth due to the increasing prevalence of cardiovascular disorders globally.

Key Market Drivers

Advancements in Drug Formulations

Some statins have been combined with other medications, such as ezetimibe, to create combination therapies. These combinations can provide more robust cholesterol-lowering effects by targeting multiple pathways, potentially reducing the need for higher statin doses. Extended-release or sustained-release formulations of statins allow for a more gradual release of the medication in the body. This can lead to smoother and longer-lasting cholesterol control, potentially reducing the frequency of dosing. Nanotechnology has been used to create nanoparticle-based formulations of statins. These nanoparticles can enhance drug solubility, bioavailability, and target-specific drug delivery, potentially improving the overall effectiveness of the statin. Prodrugs are inactive compounds that are converted into active drugs within the body. Prodrug formulations of statins can have improved pharmacokinetics, such as enhanced absorption, reduced side effects, and increased efficacy.

Fixed-dose combinations of statins and other cardiovascular medications, such as blood pressure-lowering drugs, have been developed to simplify treatment regimens for individuals with multiple risk factors. Some statins are available in effervescent tablet form, which dissolves in water before consumption. This can provide a more palatable and easily administered option for patients who have difficulty swallowing pills. In certain clinical situations, intravenous (IV) formulations of statins may be used, allowing for rapid and controlled administration in hospital settings, such as during a heart attack or acute coronary syndrome. Microencapsulation techniques have been applied to create statin formulations with controlled release, improving drug bioavailability and patient adherence.

Liposomal delivery systems encapsulate statins in lipid vesicles, allowing for targeted delivery, reduced side effects, and improved drug stability. Some statins are available in transdermal patch form, allowing for controlled and continuous absorption through the skin. This can be a convenient option for some patients. In addition to traditional oral tablets, statins are available in various dosage forms, including chewable tablets and oral suspensions, to accommodate different patient preferences and needs. Some advancements in statin therapy involve more patient-centered dosing, such as the option to take statins at different times of the day to align with the patient's routine or lifestyle. This factor will help in the development of the Global Statin Market.

Rising Awareness Campaigns

Awareness campaigns provide essential information about the importance of cardiovascular health and the risks associated with high cholesterol levels. They educate the public on the link between high cholesterol and heart disease, stroke, and other cardiovascular conditions. Awareness campaigns often emphasize the significance of regular health check-ups and cholesterol screening. This can lead to the early detection of high cholesterol levels, prompting healthcare providers to recommend statin therapy for prevention and management. By raising awareness about cholesterol management, these campaigns empower individuals to take an active role in their health. Patients become more proactive in discussing cholesterol levels and statin therapy with their healthcare providers. Awareness campaigns highlight common risk factors for high cholesterol, including diet, lifestyle, genetics, and comorbid conditions. Individuals at risk are more likely to seek cholesterol management through statins.

These campaigns educate the public about the benefits of statins, such as their ability to lower LDL cholesterol and reduce the risk of heart attacks and strokes. Understanding the positive impact of statin therapy can lead to higher demand. Awareness campaigns often align with clinical guidelines for cholesterol management. Patients and healthcare providers are more likely to follow recommended guidelines when they are aware of them, leading to increased statin use. Some individuals may have concerns or misconceptions about taking medications like statins. Awareness campaigns can help dispel myths and reduce the stigma associated with cholesterol management through medication. Awareness campaigns are often part of larger public health initiatives to reduce the burden of cardiovascular diseases. Such initiatives include policies that promote cholesterol screening and appropriate statin use.

Campaigns can be tailored to specific demographics and risk groups, such as older adults or those with a family history of heart disease. Targeted messaging can encourage those most at risk to seek cholesterol management. Healthcare providers, too, benefit from awareness campaigns. They are more likely to engage in cholesterol management discussions and recommend statins when they are informed about the latest guidelines and research. Awareness campaigns often stress the importance of lifestyle changes, including diet and exercise, in conjunction with medication. This holistic approach can encourage individuals to adopt healthier habits and use statins as an adjunct therapy. Successful awareness campaigns can lead to advocacy efforts and policy changes. These changes can include insurance coverage for cholesterol screening and medications, further driving the demand for statins. This factor will pace up the demand of the Global Statin Market.

Rising Obesity Rates

Obesity is a well-established risk factor for high cholesterol levels. Excess body fat, particularly around the abdomen, is associated with elevated levels of LDL cholesterol and reduced levels of HDL cholesterol. As obesity rates increase, more individuals are at risk of developing hypercholesterolemia, which can lead to a higher demand for statins. Obesity is closely linked to various cardiovascular conditions, including heart disease, hypertension, and type 2 diabetes. These comorbid conditions often necessitate cholesterol management through statin therapy. Obesity can disrupt the body's cholesterol metabolism, leading to increased cholesterol production and decreased removal. Statins help normalize cholesterol levels by inhibiting its synthesis in the liver. Rising childhood obesity rates mean that more young people are developing high cholesterol levels at an earlier age. This early onset of hypercholesterolemia may lead to a longer duration of statin use, increasing demand. Awareness of the cardiovascular risks associated with obesity has prompted more individuals to take preventive measures. Those at risk are more likely to engage in cholesterol screening and consult healthcare providers, who may prescribe statins as a preventive or early intervention strategy.

 Statins are particularly effective in individuals with obesity. They can significantly lower LDL cholesterol levels in this population, making them a preferred choice for cholesterol management. Healthcare providers often recommend a multifaceted approach to managing obesity-related cardiovascular risk factors. This approach may include lifestyle changes, diet modifications, and exercise, along with statin therapy. Clinical guidelines for cholesterol management often highlight the importance of addressing obesity as a risk factor. This aligns with the prescription of statins in obese individuals to achieve target cholesterol levels. The global rise in obesity rates means there is a growing population at risk of high cholesterol and cardiovascular diseases. As a result, the demand for cholesterol-lowering medications like statins is on the rise.

Obesity is often associated with a range of comorbid conditions that warrant treatment with multiple medications, including statins. This contributes to higher demand for these medications. The economic burden of obesity-related healthcare costs, including cardiovascular care, has prompted governments and insurers to invest in preventive measures. Statins are a cost-effective tool in managing the cardiovascular risk associated with obesity. This factor will accelerate the demand of the Global Statin Market.

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Key Market Challenges

Generic Competition

The introduction of generic statins often results in significant price reductions, which can reduce the profitability of branded statin medications. This price erosion is beneficial for patients and healthcare systems but can be a challenge for pharmaceutical companies. As more generic versions of statins become available, the market can become saturated, leading to intense competition. This can reduce the market share and revenue potential for both generic and branded statin manufacturers. Branded statins typically enjoy a period of market exclusivity through patents. When these patents expire, it opens the door for generic manufacturers to produce cheaper versions, reducing the market share held by the original manufacturer. With the availability of generic options, patients and healthcare providers often switch to the more affordable generic alternatives, further challenging the market presence of branded statins. To remain competitive in the market, branded statin manufacturers may need to lower their prices, impacting their profitability. The competition from generic statins can significantly impact the revenues of pharmaceutical companies that were initially marketing the branded versions. This can be a challenge for companies that rely heavily on statin sales. Some generic statins may offer dosing options that require more frequent administration, which could be less convenient for patients when compared to longer-acting branded options.

Adverse Effects and Safety Concerns

Some patients may discontinue statin therapy due to concerns about side effects, including muscle pain, weakness, and liver abnormalities. This can lead to suboptimal cholesterol management and increased cardiovascular risk. Healthcare providers may be cautious about prescribing statins, especially in patients with a history of side effects. They may seek alternative treatments or reserve statins for higher-risk patients, potentially reducing their overall use. Concerns about potential side effects can create anxiety and reluctance among patients to initiate or continue statin therapy, even when it is medically indicated. Statin therapy may necessitate regular monitoring of liver function and other health parameters to detect potential adverse effects. This additional monitoring can be burdensome for patients and healthcare systems. Severe muscle-related side effects, such as rhabdomyolysis (muscle breakdown), can occur rarely but pose a significant safety concern. These cases can be life-threatening and may deter some patients and providers from using statins. Some studies have suggested potential cognitive effects associated with statin use, such as memory problems and confusion. While the evidence is inconclusive, this concern can influence patient and provider decisions. Statins can impact metabolic factors, including blood sugar levels, which may be of concern for individuals with or at risk of diabetes. This can lead to cautious prescribing and monitoring.

Key Market Trends

Personalized Medicine

Genetic testing is becoming increasingly important in the prescription of statins. Genetic variations can influence how individuals metabolize and respond to statins. Healthcare providers may use genetic profiling to determine which statin and dosage are most suitable for a specific patient. Personalized medicine allows for a more precise assessment of an individual's cardiovascular risk. By considering genetic, lifestyle, and clinical factors, healthcare providers can identify patients who are at higher risk for heart disease and may benefit from statin therapy. Healthcare providers may use genetic information and other individualized data to select the most appropriate statin and dosage for a patient. This approach aims to maximize the efficacy of statin therapy while minimizing the risk of adverse effects. Personalized medicine can lead to more accurate dosing of statins. Some patients may require lower or higher doses based on their genetic makeup and response to the medication. Identifying individuals at higher risk for cardiovascular events through personalized risk assessment allows for early intervention with statins to prevent heart disease and strokes. Personalized medicine may involve ongoing monitoring of a patient's response to statins. If a patient experiences side effects or inadequate cholesterol reduction, adjustments can be made more promptly. The goal of personalized medicine in the statin market is to improve treatment outcomes by matching the right patients with the right medication and dose. This can lead to more effective cholesterol management and reduced cardiovascular risk.

Segmental Insights

Type Insights

In 2022, the Global Statin Market largest share was held by Synthetic statin segment and is predicted to continue expanding over the coming years. Synthetic statins, as the name suggests, are manufactured through chemical synthesis, making their production more cost-effective compared to natural or fermentation-based statins. This cost-efficiency can lead to competitive pricing, which can attract both healthcare providers and patients. Synthetic statins can be produced with high precision and quality control, ensuring consistent purity and effectiveness. This reliability is important in pharmaceuticals, as healthcare providers and patients need to trust the consistency of the medication. The synthetic statin segment has seen the development of a wide range of statin medications, providing options that vary in potency and formulation. This diversity allows healthcare providers to select the most appropriate statin for individual patient needs. Synthetic statins tend to have a longer shelf life and greater stability compared to natural alternatives. This is essential for pharmaceutical products, as it reduces the risk of spoilage and wastage. Several pharmaceutical companies, including multinational corporations, have invested heavily in the manufacturing of synthetic statins. This has resulted in a significant global production capacity, ensuring a steady and reliable supply. Many of the earliest synthetic statins were developed by pharmaceutical companies and were protected by patents, allowing them to enjoy a period of market exclusivity. This provided a competitive advantage and allowed these companies to establish a strong market presence.

End-User Insights

In 2022, the Global Statin Market largest share was held by Hospitals & Clinics segment in the forecast period and is predicted to continue expanding over the coming years.  Hospitals and clinics play a central role in diagnosing and managing cardiovascular diseases and related conditions. They have a significant number of patients with high cholesterol levels who require treatment, and healthcare professionals in these settings are often the ones prescribing and managing statin therapy. Hospitals and clinics commonly treat patients with severe cardiovascular conditions, including acute heart attacks and strokes. In such cases, statins are often prescribed as part of the treatment regimen to reduce the risk of future cardiovascular events. Hospitals and clinics offer comprehensive care, allowing for the diagnosis and management of a wide range of medical conditions, including those related to high cholesterol and cardiovascular health. This makes them key providers of statin therapy. Many hospitals and clinics have specialized programs and clinics dedicated to cholesterol management and cardiovascular health. These programs often involve the use of statins to help patients lower their LDL-C levels. These settings are staffed by specialized healthcare professionals, including cardiologists, endocrinologists, and lipid specialists, who are well-equipped to manage patients with high cholesterol and prescribe statin medications. Hospitals and clinics can closely monitor patient adherence to statin therapy and address any concerns or side effects promptly. This close monitoring can lead to better outcomes and patient compliance.


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Regional Insights

The North America region dominates the Global Statin Market in 2022. North America has a relatively high prevalence of cardiovascular diseases, including heart disease and strokes. This creates a significant demand for cholesterol-lowering medications like statins, as they are a primary therapy for reducing the risk of heart-related conditions. North America boasts well-developed healthcare infrastructure, including a strong network of healthcare providers, hospitals, and pharmacies. This infrastructure supports the diagnosis, prescription, and distribution of statin medications. Many countries in North America, such as the United States and Canada, have healthcare systems that provide broad access to prescription medications, making it easier for patients to obtain statins. The region is home to numerous pharmaceutical companies and research institutions that are at the forefront of developing and marketing statin medications. This creates a robust environment for innovation and product development. Lifestyle factors, including poor diet and sedentary behavior, have contributed to high cholesterol levels among the population. As a result, there is a substantial patient population that requires cholesterol-lowering treatments. While it can be a challenge for pharmaceutical companies, the stringent regulatory oversight in North America also ensures that approved medications, including statins, meet rigorous safety and efficacy standards, instilling confidence in healthcare providers and patients.

Recent Developments

  • In December 2021, Novartis announced the approval of Leqvio (inclisiran) by the US Food and Drug Administration (FDA). Leqvio is the first small interfering RNA (siRNA) therapy designed to lower low-density lipoprotein cholesterol (LDL-C or "bad cholesterol") with just two doses per year. This regimen consists of an initial dose and a follow-up at three months. In the United States, Leqvio is indicated as an adjunct to diet and maximally tolerated statin therapy for the treatment of adults with clinical atherosclerotic cardiovascular disease (ASCVD) or heterozygous familial hypercholesterolemia (HeFH) who require further reduction in LDL-C. Clinical trials are currently underway to investigate Leqvio's impact on cardiovascular morbidity and mortality. The mechanism of action involves reducing LDL-C levels by enhancing the liver's natural ability to inhibit the production of a protein that contributes to elevated cholesterol levels in the bloodstream. Leqvio is administered via subcutaneous injections by healthcare providers, initially with a three-month follow-up and subsequent injections every six months. This dosing schedule may offer an advantage for individuals who find it challenging to adhere to self-administered medications with more frequent doses.

Key Market Players

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

 

By Type

By End-User

By Region
  • Synthetic statin
  • Natural statin
  • Hospitals & Clinics
  • Ambulatory Care Centers
  • Others
  • North America
  • Asia-Pacific
  • Europe
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Statin Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Statin Market, By Type:

o   Synthetic statin

o   Natural statin

  • Statin Market, By End-User:

o   Hospitals & Clinics

o   Ambulatory Care Centers

o   Others

  • Statin Market, By region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  India

§  South Korea

§  Australia

§  Japan

o   Europe

§  Germany

§  France

§  United Kingdom

§  Spain

§  Italy

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Statin Market.

Available Customizations:

Global Statin Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Statin Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]              

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Applications

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Statin Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Type (Synthetic statin, Natural statin)

5.2.2.     By End-user (Hospital & Clinics, Ambulatory Surgical Centers, Others)

5.2.3.     By Region

5.2.4.     By Company (2022)

5.3.  Market Map

6.    Asia Pacific Statin Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type

6.2.2.     By End-user

6.2.3.     By Country

6.3.  Asia Pacific: Country Analysis

6.3.1.     China Statin Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Type

6.3.1.2.2.             By End-user

6.3.2.     India Statin Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Type

6.3.2.2.2.             By End-user

6.3.3.     Australia Statin Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Type

6.3.3.2.2.             By End-user

6.3.4.     Japan Statin Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Type

6.3.4.2.2.             By End-user

6.3.5.     South Korea Statin Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Type

6.3.5.2.2.             By End-user

7.    Europe Statin Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By End-user

7.2.3.     By Country

7.3.  Europe: Country Analysis

7.3.1.     France Statin Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By End-user

7.3.2.     Germany Statin Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By End-user

7.3.3.     Spain Statin Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By End-user

7.3.4.     Italy Statin Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Type

7.3.4.2.2.             By End-user

7.3.5.     United Kingdom Statin Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Type

7.3.5.2.2.             By End-user

8.    North America Statin Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By End-user

8.2.3.     By Country

8.3.  North America: Country Analysis

8.3.1.     United States Statin Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By End-user

8.3.2.     Mexico Statin Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By End-user

8.3.3.     Canada Statin Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By End-user

9.    South America Statin Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type

9.2.2.     By End-user

9.2.3.     By Country

9.3.  South America: Country Analysis

9.3.1.     Brazil Statin Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By End-user

9.3.2.     Argentina Statin Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By End-user

9.3.3.     Colombia Statin Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By End-user

10.  Middle East and Africa Statin Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Type

10.2.2.  By End-user

10.2.3.  By Country

10.3.              MEA: Country Analysis

10.3.1.  South Africa Statin Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Type

10.3.1.2.2.           By End-user

10.3.2.  Saudi Arabia Statin Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Type

10.3.2.2.2.           By End-user

10.3.3.  UAE Statin Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Type

10.3.3.2.2.           By End-user

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

12.1.              Recent Developments

12.2.              Product Launches

12.3.              Mergers & Acquisitions

13.  Global Statin Market: SWOT Analysis

14.  Porter’s Five Forces Analysis

14.1.              Competition in the Industry

14.2.              Potential of New Entrants

14.3.              Power of Suppliers

14.4.              Power of Customers

14.5.              Threat of Substitute Product

15.  PESTLE Analysis

16.  Competitive Landscape

16.1.              Abbott Laboratories Ltd.

16.1.1.  Business Overview

16.1.2.  Company Snapshot

16.1.3.  Products & Services

16.1.4.  Financials (As Reported)

16.1.5.  Recent Developments

16.2.              Amgen Inc

16.3.              AstraZeneca Plc

16.4.              Aurobindo Pharma Ltd.

16.5.              Biocon Ltd.

16.6.              Concord Biotech Ltd.

16.7.              Merck and Co. Inc

16.8.              Novartis AG

16.9.              Pfizer Inc

16.10.           Thermo Fisher Scientific Inc.

17.  Strategic Recommendations

18.   About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Statin Market was estimated to be USD 2668.20 million in 2022.

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Amgen Inc., AstraZeneca Plc. are some of the key players operating in the Statin Market.

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Statins are associated with various side effects, such as muscle pain and liver abnormalities.

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There was a growing emphasis on preventive healthcare, which included the use of statins as a proactive measure for individuals at risk of heart disease.

Related Reports

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Sakshi Bajaal

Business Consultant
Press Release

Global Statin Market to grow with a CAGR of 2.90%

Jan, 2024

Increasing healthcare infrastructure and a supportive regulatory environment are the major drivers for the Global Statin Market.

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