Atorvastatin API Market Highlights
The hypercholesterolemia segment is expected to lead the market and register a substantial CAGR to reach USD 2,10,753.23 thousand by the end of 2023. High prevalence of hypercholesterolemia is expected to drive the market growth. Additionally, the segment is projected to exhibit the highest CAGR of 4.09% from 2018 to 2023.
The atorvastatin API market is anticipated to reach USD 2,852.3 Million by 2030 at 7.50% CAGR during the forecast period 2022-2030.
North America accounted for the largest market share of 40.64% in 2017, and the regional market is projected to register a CAGR of 3.10% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Chinese market is projected to exhibit the highest growth rate of 5.86% during the forecast period from 2022 to 2030.
Atorvastatin API Market Segmentation
The atorvastatin API market report has been studied extensively by MRFR experts, with respect to applications.
The key applications covered in the market report are hypertriglyceridemia, dyslipidemia, hypercholesterolemia, and more. Out of these, the hypercholesterolemia category can take the lead in the global market and touch a valuation of USD 210,753.23 thousand by 2023-end, estimates MRFR. Hypercholesterolemia cases across the globe have doubled in recent years, given the increasing adoption of lifestyle choices like bad eating habits, tobacco consumption and lack of exercise, all of which increase the cholesterol level in the blood. Some other secondary factors giving rise to these cases can be dialysis, alcohol intake, diabetes mellitus (Type 2), monoclonal gammopathy, obesity, and more. In a nutshell, the growing prevalence of hypercholesterolemia worldwide can help the segment record the fastest CAGR of 4.09% between 2018 and 2023.
Atorvastatin API Market Regional Analysis
Some of the key markets for atorvastatin API globally include Europe, Asia Pacific/APAC coupled with Europe and North America.
In 2017, with the biggest share of 40.64%, North America secured the lead in the global market and is projected to record a CAGR of 3.10% during the conjectured period. An alarming surge in heart diseases in conjunction with bad eating habits and a rise in obesity are major reasons behind the market lucrativeness in the region. Technological innovations in drugs along with the expanding supply channel networks of leading firms in the region also adds to the projected growth.
APAC is a promising market and is soon expected to garner the fastest growth rate, while China can be the fastest expanding market in the region, with a rate of 5.86% from 2018 to 2023. Growing employment rate, surge in hectic lifestyles and mounting health concerns among people have led to higher demand for atorvastatin APIs in the pharma industry. Promising pipelines and the spike in hypercholesterolemia cases also bolster the market growth in the region.
The European industry is presumed to cross USD 131,094.04 thousand by the year 2023, thanks to the massive prevalence of hypercholesterolemia as well as mixed dyslipidemia. France, followed by the UK, is the biggest gainer in the regional market, as most of the pharmaceutical companies in the country are striving to expedite their research and development to produce huge volumes of drugs.
Atorvastatin API Market Players
The global atorvastatin API market players are Teva Pharmaceutical Industries Ltd (Israel), Jubilant Life Sciences Ltd (India), Dr. Reddy’s Laboratories Ltd (India), Sun Pharmaceutical Industries Ltd (India), Ind-Swift Labs Ltd (India), Morepen Laboratories Ltd (India), Zhejiang Hisun Pharmaceutical Co Ltd (China), Anuh Pharma Ltd (India), Centrient Pharmaceuticals (The Netherlands) and Cadila Pharmaceuticals (India)
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