Atorvastatin API Market
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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