Atorvastatin API Market Share, Key Players, worldwide forecast to 2027
- celina redden
- Oct 2, 2021
- 2 min read
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
Market Highlights
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.
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.
Segmentation Analysis
The global atorvastatin API market is segmented by application.
By application, it is segmented into dyslipidemia, hypertriglyceridemia, hypercholesterolemia, and others. The hypercholesterolemia segment is bound to generate close to USD 210.7 million by 2023. High prevalence of the disease can ensure the segment to display a strong CAGR of 4.09% during the forecast period. On the other hand, dyslipidemia segment is bound to have a high growth potential till 2023.
Regional Analysis
The Middle East & Africa, North America, Latin America, Asia Pacific (APAC), and Europe are regions taken into consideration in the compilation of the global atorvastatin API market report.
North America accounted for 40.64% market share in 2017 due to the U.S. being one of the biggest contributors of the market. It can register 3.10% CAGR during the forecast period to gain high dividends for the global atorvastatin API market.
The APAC region is expected to exhibit one of the strongest growth rates during the forecast period due to large approval of drugs in the region. Contract manufacturing and outsourcing companies which take up research and development of large pharmaceutical companies have widened the potential of the market. China, in particular, is touted to exhibit 5.86% CAGR during the forecast period.
The Europe atorvastatin API market is touted to exceed a valuation of USD 131 million by 2023. Rising cases of dyslipidemia and hypercholesterolemia are primarily fueling the market demand. France and the U.K. are major contributors in the region. Expansions of production facilities to create generic versions of the Lipitor drug is likely to culminate in higher bottomline margins for players. Recently, DSP Sinochem Pharmaceuticals has launched Rosuvastatin for its clients as well as producing them in large quantities for third-party customers.
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