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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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
210 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.6% |
Market growth 2025-2029 |
USD 3082 million |
Market structure |
concentration |
YoY growth 2024-2025(%) |
3.4 |
Key countries |
US, Canada, China, Japan, Germany, Brazil, India, Mexico, France, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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.
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
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