Atorvastatin API Market Overview, Growth Opportunities and Forecast to 2032
Atorvastatin
API Market Size was valued at USD 1.5 Billion in 2022.
The Atorvastatin API market industry is projected to grow from USD 1.61 Billion
in 2023 to USD 2.87 Billion by 2032,
Key Boosters and Deterrents
There has been a
significant change in consumer preference when it comes to medications,
following the COVID-19 outbreak. The novel coronavirus pandemic has had a
positive impact on the pharmaceutical industry, especially in relation to
cardiac therapies, anti-diabetic and respiratory. Other segments like vitamin,
pain therapies and gastro seem to be struggling, owing to the slackened demand.
This could be due to the growth in chronic heart, diabetics and lung diseases
following the onset of SARS-CoV-2, prompting people to buy more of drugs with
respect to these ailments.
Studies have confirmed
that the higher level of cholesterol boosts the chances of being infected by
the SARS-CoV-2 infection. This is a major reason for the elderly population
being the prime target for the pandemic. Therefore, the surge in COVID-19
impact despite the worldwide lockdown and cases of cardiovascular diseases are
expected to be favorable for the atorvastatin API market.
The surging cases of
obesity and the resultant increase in LDL cholesterol and triglyceride levels
in light of the rising prevalence of sedentary lifestyles has also bolstered
the global position of the atorvastatin API market. Increasing kidney disorders
along with the high drug dosage common among elderly people to bring down
cholesterol levels can also induce considerable market growth in the coming
years. Increasing approval by the FDA of vast range of drugs encouraging more
and more pharma companies to come up with new and innovative medications also
enhances the consumption rate of atorvastatin API.
Segment Analysis
The atorvastatin API
industry has been studied extensively by MRFR experts, with respect to
applications.
The key applications
covered in the market report are hypertriglyceridemia, dyslipidemia,
hypercholesterolemia, and more. Out of these, the hypercholesterolemia category
can take the lead in the global market and touch a valuation of USD 210,753.23
thousand by 2023-end, estimates MRFR. Hypercholesterolemia cases across the
globe have doubled in recent years, given the increasing adoption of lifestyle
choices like bad eating habits, tobacco consumption and lack of exercise, all
of which increase the cholesterol level in the blood. Some other secondary
factors giving rise to these cases can be dialysis, alcohol intake, diabetes
mellitus (Type 2), monoclonal gammopathy, obesity, and more.
Major Key
Players:
The global Atorvastatin API Market Players Teva
Pharmaceutical Industries Ltd (Israel), Jubilant Life Sciences Ltd (India), Dr.
Reddy’s Laboratories Ltd (India), Sun Pharmaceutical Industries Ltd (India),
Ind-Swift Labs Ltd (India), Morepen Laboratories Ltd (India), Zhejiang Hisun
Pharmaceutical Co Ltd (China), Anuh Pharma Ltd (India), Centrient
Pharmaceuticals (The Netherlands) and Cadila Pharmaceuticals (India)
Regional Analysis
In 2017, with the biggest share of 40.64%, North America secured the lead
in the global market and is projected to record a CAGR of 3.10% during the
conjectured period. Alarming surge in heart diseases in conjunction with bad
eating habits and rise in obesity are major reasons behind the market
lucrativeness in the region. Technological innovations in drugs along with the
expanding supply channel networks of leading firms in the region also adds to
the projected growth.
The European industry is presumed to cross USD 131,094.04 thousand by the
year, thanks to the massive prevalence of hypercholesterolemia as well as mixed
dyslipidemia. France, followed by the UK, is the biggest gainer in the regional
market, as a majority of the pharmaceutical companies in the country are
striving to expedite their research and development to produce huge volumes of
drugs.
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