Global Atorvastatin API Market: Information by Application (Hypercholesterolemia, Hypertriglyceridemia, Dyslipidemia and others) and Region (North America, Europe, Asia-Pacific and the Middle East & Africa) – Forecast till 2027
The Global Atorvastatin API Market is estimated to be valued at USD 4,25,804.16 thousand by 2023 and is expected to register a CAGR of 3.34% during the forecast period.
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.
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Market Dynamics
The Global Atorvastatin API Market has been largely benefited by the rising adoption of atorvastatin in the treatment of cardiovascular diseases. Additionally, the growing prevalence of dyslipidemia in China provides opportunities for growth in the market. However, adverse health effects associated with atorvastatin is expected to restrain market growth.
Competitive Analysis
Major industry participants in the global atorvastatin API market include Ind-Swift Labs Ltd, Teva Pharmaceutical Industries Ltd, Zhejiang Hisun Pharmaceutical Co Ltd, Anuh Pharma Ltd, Morepen Laboratories Ltd, Jubilant Life Sciences Ltd, Cadila Pharmaceuticals, Centrient Pharmaceuticals, Sun Pharmaceutical Industries Ltd, and Dr. Reddy’s Laboratories Ltd. Scaling of efforts to expedite research and development for mass production of the drug as well as compliance to latest standards are strategies employed by players to gain leverage over the competition.
Segment Analysis
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
Regional Analysis
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 2018 to 2023.
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