Atorvastatin API Market – Overview
The increasing obesity rates, coupled with an increased incidence of cholesterol problems, is increasing the demand for atorvastatin. Reports that review the healthcare industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is positioned to achieve a CAGR of 3.34% while earning revenues worth USD 4,25,804.16 thousand by 2023.
The need to regulate vital cardiovascular functions is the primary factor fuelling the atorvastatin API market globally. The surging use of atorvastatin to treat cardiovascular diseases is fuelling the development of the market for atorvastatin APIs. The market is expected to be motivated market expansions that are expected to be carried out by industry leaders in the approaching CAGR in the forecast period.
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The segmental study of the atorvastatin API market is carried out on the basis of application and region. The application basis of segmenting the atorvastatin API market is carried out on the basis of hypertriglyceridemia, hypercholesterolemia, dyslipidemia, and others. The hypercholesterolemia segment is anticipated to control the market to touch USD 2,10,753.23 thousand by the end of 2023. The high incidence of hypercholesterolemia is anticipated to initiate positive market growth. Also, the segment is expected to display the uppermost CAGR of 4.09% from 2018 to 2023. The regions counted in the atorvastatin API market are Europe, North America, Asia Pacific, the Middle East, and Africa.
Detailed Regional Analysis
The regional review of the atorvastatin API market includes region such as Europe, North America, Asia Pacific, the Middle East, and Africa. The North American region was in charge of the largest market portion of 40.64% in 2017, and the regional market is expected to record a CAGR of 3.10 % through the forecast period. Moreover, the Asia Pacific is projected to utilize the fastest CAGR. The Chinese regional market is projected to display the maximum development rate of 5.86 % during the forecast period from 2018 to 2023. The European regional market is appraised to surpass USD 1,31,094.04 thousand by the year 2023. The high prevalence of mixed dyslipidemia and hypercholesterolemia are impelling the growth of the Atorvastatin API market in the region. France is the key supplier to the development of the regional market, followed by the UK.
The trade-offs between the resources needed to manage the challenges in the market are being carried out increasingly to improve the market’s scope for development. The need to establish cost-benefit analysis is leading to enhanced product development in the market. The state of the assets is also thoroughly examined to determine whether an investment is required to maintain the marketing system in its existing, unimproved state. The market competitors are also carefully scrutinizing whether intervention is required to ensure efficient use of society’s resources. The development of the alternative courses of action in terms of both their expenses and consequences are steering the growth of the market. The market players are concentrating on strategies that lead to the highest degree of development in the market. They are also making the most effective use of resources which is dependent on an effective appraisal and planning process.
The outstanding leaders in the Atorvastatin API Market globally are Jubilant Life Sciences Ltd (India), Dr. Reddy’s Laboratories Ltd (India), Teva Pharmaceutical Industries Ltd (Israel), Morepen Laboratories Ltd (India), Sun Pharmaceutical Industries Ltd (India), Ind-Swift Labs Ltd (India), Anuh Pharma Ltd (India), Zhejiang Hisun Pharmaceutical Co Ltd (China), Centrient Pharmaceuticals (The Netherlands) and Cadila Pharmaceuticals (India).
Nov 2018 Zydus Cadila, a well-known Drug maker, has announced that it has received approval from the US health regulator to promote Atorvastatin Calcium tablets, a cholesterol-lowering drug. The group based out of Ahmedabad has obtained final endorsement from the US Food and Drug Administration (USFDA) to sell the drug in the concentrations of 10 mg, 20 mg, 40 mg, and 80 mg respectively.
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