US$ 18.1 Billion Statin Market Research Report 2023-2028

According to the latest report by IMARC Group, titled "Statin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global statin market size reached US$ 14.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028. Statin is a lipid-lowering medication that is consumed by patients to reduce their blood cholesterol levels. It works by inhibiting an enzyme, HMG-CoA reductase, that plays a major role in the production of cholesterol in the liver. By reducing the level of cholesterol produced by the liver, statins help to lower total cholesterol and low-density lipoprotein (LDL) cholesterol levels in the bloodstream. As a result, it aids in preventing instances of atherosclerosis and heart attacks and has significant anti-inflammatory and plaque-stabilizing effects. It also helps in minimizing vascular inflammation and oxidative stress in the body. Some commonly available statins include atorvastatin, rosuvastatin, lovastatin, and simvastatin.

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Statin Market Growth:

The increasing prevalence of hypercholesterolemia is driving the global market. Along with this, the wide utilization of statin for the treatment of cardiovascular diseases as it assists in reducing the risks of heart attacks and stroke among individuals is catalyzing the market. Moreover, the rising consumer preference for over-the-counter (OTC) drugs, which are generally more affordable than brand-name drugs is fuelling the demand. The market is further driven by the growing adoption of combination therapies that use statins along with other cholesterol-reducing compounds, such as ezetimibe. With continual advancements in genetic testing and personalized medicine, statins are increasingly being tailored to individual patients based on their genetic profiles and other risk factors, this, in turn, is creating a positive market outlook.

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Competitive Landscape With Key Players :

• Abbott Laboratories
• AstraZeneca
• Aurobindo Pharma
• Biocon
• GlaxoSmithKline
• Merck & Co.
• Novartis
• Pfizer

Key Market Segmentation:

Breakup by Type:

• Synthetic Statins
• Natural Statins

Breakup by Therapeutic Area:

• Cardiovascular Disorders
• Obesity
• Inflammatory Disorders
• Others

Breakup by Drug Class:

• Atorvastatin
• Fluvastatin
• Lovastatin
• Pravastatin
• Simvastatin
• Others

Breakup by Application:

• Dyslipidemia
• Others

Breakup by Distribution:

• Hospitals
• Clinics
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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• https://www.digitaljournal.com/pr/news/saudi-arabia-luxury-market-analysis-report-2023-2028-cagr-of-11-6-

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