Simvastatin Drug Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global simvastatin drug market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The major factor expected to drive the market is increase in the prevalence of coronary heart diseases such as stroke, heart attack, atherosclerosis, and others and the rise in the geriatric population. In addition, an innovative R&D approach to developing advanced drugs, and the increasing number of clinical trials will further drive the market growth. Furthermore, according to World Health Organization (WHO), in 2019, Simvastatin drug was the thirteenth most commonly prescribed medication in the United States, with more than 36 million prescriptions. This in turn, is accelerating the growth of the market.

Simvastatin Drug also known as Zocor (sold under Zocor and among other brand names) is used to decrease the risk of heart problems in those at high risk. It is a lipid-lowering medication used along with exercise, diet, and weight loss to decrease elevated lipid levels. Simvastatin drug is made from the fungus Aspergillus terreus. It is available as a generic medication and is on the World Health Organization's (WHO) list of essential medicines. It is majorly used to treat bad cholesterol levels in the body by inhibiting HMG coenzyme reductase.

For instance, in July 2021, a study done across the US hospitals between January and September 2020 show that the statins reduce the risk of death in a COVID-19 patient with a history of high blood pressure or heart disease. The study was done on approx. 10,500 patients across 104 U.S. hospitals. All of them had been admitted with a serious COVID-19 disease. After analyzing the data by American Heart Association, it was concluded that statin use was similarly linked to a 25% lower risk for developing a "severe outcome" as a result of COVID-19 infection.

Some major players in the market include Merck & Co. Inc., Teva Pharmaceuticals Industries Ltd., and Mylan NV, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in June 2019, Glenmark Pharmaceuticals announced that the company received final approval from the US health regulator Food and Drug Administration (FDA) for Ezetimibe and Simvastatin Drug tablets for the treatment of high levels of cholesterol in the blood. It is the generic version of MSD International's Vytorin tablets. The approval has been granted for the use of 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Dosage Type
•By End-Use
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Merck & Co. Inc., Teva Pharmaceuticals Industries Ltd., and Mylan NV, among others.

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Global Simvastatin Drug Market Report by Segment
By Dosage Type
•5 mg
•10 mg
•20 mg
•40 mg
•80 mg
By End-Use
•Adult
•Children

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

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This release was published on openPR.