Global Statins Market size is expected to touch US$ 22 Bn by 2032, advancing at 3.5% CAGR | Pfizer Inc., AstraZeneca plc, Novartis International AG

Statins are a class of medications that are used to lower cholesterol levels in the blood. They work by inhibiting an enzyme in the liver that is responsible for producing cholesterol. Statins are often prescribed to people who are at high risk for heart disease or who have already had a heart attack or stroke.

The global statins market size reached US$ 15 Bn in 2021 and is expected to touch US$ 22 Bn by 2032, advancing at 3.5% CAGR from 2022 to 2032 (forecast period).

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The global market for statins is quite large, with billions of dollars in annual sales. The market is driven by the increasing prevalence of cardiovascular disease and other conditions that are linked to high cholesterol levels, such as diabetes and obesity.

 Companies

Pfizer Inc.
AstraZeneca plc
Novartis International AG
GlaxoSmithKline plc
Merck & Co., Inc.
Biocon
Aurobindo Pharma Ltd
Concord Biotech

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There are several different types of statins available, including atorvastatin, rosuvastatin, and simvastatin. These drugs are available in both generic and brand-name form, and are sold by a variety of pharmaceutical companies.

In recent years, there has been controversy surrounding the use of statins, with some people claiming that they have serious side effects, such as muscle pain and weakness, memory loss, and an increased risk of diabetes. However, the overwhelming majority of research suggests that the benefits of statins far outweigh the risks, and that they are a safe and effective treatment for high cholesterol and related conditions.

Market Drivers and Restraints

Rise in the prevalence of cholesterol owing to changing lifestyles has led to increased demand for statins worldwide. There has been a significant rise in patients with obesity, cardiovascular diseases, and diabetes, which, in turn, is expected to drive the demand for statins worldwide.

Furthermore, an increase in healthcare expenditure in emerging regions along with technological advancement, modern healthcare amenities, and various cholesterol-related healthcare campaign is expected to boost overall demand for stains worldwide.

Though the market is poised to grow at a significant rate, increasing preference for alternative medicines in emerging regions is proving a major challenge for the overall growth of the stains market.

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Statins Industry Research Segmentation

By Drug Class:

Astrovastatins

Fluvastatins

Lovastatins

Pravastatins

Simvastatins

Others

By Therapeutic Treatment:

Cardiovascular Disorders

Obesity

Inflammatory Disorders

Others

By End User:

Hospitals

Clinics

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