Latest News- Statin Market: Hospitals is expected to lead the End-user segment during 2025-2029

The Statin Market is being driven by Rising prevalence of hypercholesterolemia

The Statin Market is expected to grow at a CAGR of 3.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3082 million. The global statin market is poised for significant growth due to the rising prevalence of cardiovascular diseases, particularly heart attacks, which will drive demand for statins during the forecast period. Furthermore, the increasing geriatric population, a trend accelerated by the aging demographic shift, will further fuel market expansion. According to the World Health Organization (WHO), by 2050, approximately 80% of the older population will reside in low- and middle-income countries. This demographic shift, coupled with the increasing prevalence of age-related health issues, will create substantial opportunities for the statin market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Hospitals
  • Clinics
  • Others
• Type
  • Synthetic statin
  • Natural statin
• Drug Class
  • Atorvastatin
  • Simvastatin
  • Pravastatin
  • Fluvastatin
  • Others
• Therapeutic Area
  • Cardiovascular disorders
  • Obesity
  • Inflammatory disorders
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Asia
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising prevalence of hypercholesterolemia
• Increasing risk factors for cardiovascular diseases
• Increasing consumer preference for over-the-counter (OTC) drugs

However, the market also witnesses some limitations, which are as follows:

• Stringent regulatory environment
• Side effects associated with statins
• Requirement for adequate remedy options

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Market Scope in Statin Market Research Report

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Research Analysis Overview

In the pharmaceutical industry, statins are a prominent class of drugs used to combat vascular inflammation and oxidative stress, particularly in obese individuals susceptible to respiratory problems and various chronic and acute diseases. These conditions include heart transplantation, cardiac transplantation, heart valve surgery, pulmonary resection, and lung transplantation. Both natural and synthetic statins are employed to lower cholesterol levels, with natural statins derived from certain foods and synthetic statins produced in labs.

Market Research Overview

The global pharmaceuticals market encompasses entities involved in the research and development (R&D) or manufacturing of various pharmaceutical offerings, including generic and non-generic drugs, and veterinary medicines. According to Technavio, the healthcare industry's overall size is determined by the consolidated revenue generated by providers of medical equipment, pharmaceuticals, biotechnology, life sciences tools, and services. Factors fueling the expansion of the pharmaceuticals market include the growing population of elderly individuals – with the US projecting that over 25% of its populace will be aged 60 or above by 2050, and Europe reaching a comparable demographic ratio by 2030 – as well as the increasing prevalence of chronic conditions, such as vascular inflammation, oxidative stress, obesity, and respiratory issues, which necessitate continuous medication and treatment.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com/