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 expected to register a CAGR of 3.34% to reach USD 4,25,804.16 thousand by 2023.
Atorvastatin belongs to the group of medicines known as statins, also called as the HMG-CoA reductase inhibitors. HMG-CoA reductase is an enzyme involved in varying and maintaining the cholesterol levels in the body. Atorvastatin is mainly used to prevent vital cardiovascular occasions and lower total and bad cholesterol (LDL-cholesterol) and triglyceride levels in the blood.
The high adoption of atorvastatin in the treatment of cardiovascular diseases is expected to drive the market growth. However, adverse health effects associated with atorvastatin are likely to restrain market growth.
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High volume of kidney disorders combined with high dosage of the drug in the elderly populace to control their cholesterol levels can bode well for the market. Approval of mass production of drugs from federal agencies can drive the atorvastatin API market growth. Recently, the U.S. FDA granted license to Morepen Laboratories for the production of atorvastatin calcium for export to the U.S. Strict regulation outlined by federal agencies as well as compliance for switching to green methods of production can bode well for the market. But adverse effects of the drug can hamper the market growth.
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.
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.
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.
The prominent players in the Global Atorvastatin API Market 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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- Atorvastatin API Manufacturers
- Pharmaceutical Companies
- Contract Research Organizations
- Contract Manufacturing Organizations
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