(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Allied market Research published a report, titled, " Atorvastatin Calcium Market by Form (Tablets and Others), Application (Hypercholesterolemia, Hyperlipidemia and Others), and Distribution channel (Hospital pharmacies, Drug store & retail pharmacies and online providers.): Global Opportunity Analysis and industry Forecast, 2024-2033" . According to the report, the atorvastatin calcium market was valued at $298.3 million in 2023, and is estimated to reach $487.8 million by 2033, growing at a CAGR of 5% from 2024 to 2033.
The global atorvastatin calcium market is experiencing growth due to an increase in the cardiovascular disease population and the availability of generic products is expected to drive the growth of the atorvastatin calcium market.
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Prime determinants of growth
The global atorvastatin calcium market is experiencing growth due to several factors such as increasing prevalence of cardiovascular diseases, there is an increased demand for cholesterol-lowering medications such as atorvastatin calcium. The global aging population is more susceptible to hypercholesterolemia and cardiovascular conditions, driving the need for statins. Further, unhealthy diets, sedentary lifestyles, and increasing obesity rates contribute to higher cholesterol levels, further boosting the demand for atorvastatin calcium. Moreover, greater awareness of the importance of managing cholesterol levels and preventing cardiovascular diseases leads to more patients seeking treatment.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2035 |
| Base Year | 2023 |
| Market Size in 2023 | $298.27 million |
| Market Size in 2033 | $487.70 million |
| CAGR | 5.0% |
| No. of Pages in Report | 280 |
| Segments Covered | Type, Application, and Region. |
| Drivers | Increase in prevalence of cardiovascular disease Introduction of genetic products Increase in diagnosis and awareness for cardiovascular disease |
| Opportunities | Opportunity in untapped economies |
| Restraint | |
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Segment Highlights
Tablets segment dominated the market in 2023
The tablets segment is expected to dominate the global atorvastatin calcium market due to several compelling reasons. Tablets are easy to administer and consume, making them a preferred choice for both patients and healthcare providers. Further, the convenience of tablets improves patient compliance, as they are easier to handle, store, and transport compared to other forms of medication. Tablets provide a stable dosage form that ensures the correct and consistent delivery of medication, which is crucial for managing chronic conditions like hypercholesterolemia. Many patients prefer tablets over other forms such as injections or liquid formulations due to ease of use and minimal discomfort.
Hypercholesterolemia is expected to be lucrative by 2033
The hypercholesterolemia segment is indeed a lucrative segment within the global atorvastatin calcium market due to high prevalence of hypercholesterolemia. This widespread prevalence creates a large and consistent demand for effective treatments like atorvastatin calcium. Hypercholesterolemia is a chronic condition requiring long-term management. Patients often need to take atorvastatin calcium daily, leading to sustained demand and recurring sales. Managing hypercholesterolemia is critical for preventing cardiovascular diseases, such as heart attacks and strokes. The strong link between high cholesterol and cardiovascular events drives the need for effective cholesterol-lowering medications, making this segment particularly lucrative.
Online Pharmacies segment is projected to be lucrative by 2033
The online pharmacies segment is indeed a lucrative segment within the global deferiprone market due to increased adoption of digital health solutions, convenience, cost savings, and advancements in technology. As consumer preferences shift towards online purchasing and as the sector evolves with improved regulations and infrastructure, online pharmacies are set to become a major player in the healthcare and pharmaceutical industries.
Regional Outlook
By region, North America held the largest market share in terms of revenue in 2023 and is expected to dominate the atorvastatin calcium market during the forecast period. This is attributed to its advanced technology, strong demand & availability of atorvastatin calcium, supportive regulatory environment, and collaborative ecosystem fostering innovation and market growth in the atorvastatin calcium market. However, the Asia-Pacific region is expected to witness rapid industrialization in countries like China and India has led to the establishment and expansion of manufacturing facilities, including advancements and accessibility of such atorvastatin calcium products, is expected to drive the market growth in the forecast period.
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Key Players: -
Mylan Pharmaceuticals Inc. Novartis AG GlaxoSmithKline plc, Amgen Inc. Sanofi SA Teva Pharmaceuticals Industries Ltd. Merck and Co. Bristol-Myers Squibb Company AstraZeneca PLC Pfizer Inc
The report provides a detailed analysis of these key players in the global atorvastatin calcium market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences , Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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