Atorvastatin API Market Growth: 2020 Global Industry Analysis, Size Estimation, Top Company Share, Regional Statistics, Forecast to 2023

Atorvastatin API Market Scope

Atorvastatin API market 2020 could procure a growth rate of 3.34% between 2018 and 2023 (analysis period), confirms Market Research Future (MRFR). MRFR also reveals that the market size can reach USD 425,804.16 thousand by 2023. We will provide COVID-19 impact analysis with the report, along with all the key developments since the coronavirus disease outbreak.

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Atorvastatin API Market 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.

Atorvastatin API Market Segmental Insight

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. In a nutshell, the growing prevalence of hypercholesterolemia worldwide can help the segment record the fastest CAGR of 4.09% between 2018 and 2023.

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Atorvastatin API Market Regional Study

Some of the key markets for atorvastatin API globally include Europe, Asia Pacific/APAC coupled with Europe and North America.

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.

APAC is a promising market and is soon expected to garner the fastest growth rate, while China can be the fastest expanding market in the region, with a rate of 5.86% from 2018 to 2023. Growing employment rate, surge in hectic lifestyles and mounting health concerns among people have led to higher demand for atorvastatin APIs in the pharma industry. Promising pipelines and the spike in hypercholesterolemia cases also bolster the market growth in the region.

The European industry is presumed to cross USD 131,094.04 thousand by the year 2023, 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.

Atorvastatin API Market Renowned Industry Players

Highly reputed industry players considered in the market study are Centrient Pharmaceuticals (The Netherlands), Sun Pharmaceutical Industries Ltd (India), Morepen Laboratories Ltd (India), Jubilant Life Sciences Ltd (India), Cadila Pharmaceuticals (India), Teva Pharmaceutical Industries Ltd (Israel), Ind-Swift Labs Ltd (India), Anuh Pharma Ltd (India), Dr. Reddy’s Laboratories Ltd (India), Zhejiang Hisun Pharmaceutical Co Ltd (China), to name a few.

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NOTE: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required we will be considering covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

This release was published on openPR.