Rosuvastatin Market - Size, Share, Industry Trends, and Forecasts (2023 - 2031)

Rosuvastatin Market Dynamics - (DRO) :

Key Drivers :

Growing incidences of cardiovascular diseases across the globe

Rosuvastatin medications are used to decrease the amount of cholesterol circulating in the bloodstream and enhance the levels of good cholesterol in the body. This improvement in cholesterol levels helps to prevent the development of arterial blockages, thereby reducing the risk of serious cardiovascular conditions. The increasing prevalence of cardiovascular diseases across the globe is driving the demand for rosuvastatin medication worldwide. Cardiovascular disease (CVD) is a class of diseases that includes aortic atherosclerosis, cerebrovascular disease (heart stroke), coronary artery disease, and peripheral artery disease. Based on the analysis, these diseases are mainly caused by a build-up of fat and cholesterol in the blood vessels and arteries. Moreover, as per the analysis, the number of people suffering from cardiovascular diseases worldwide has escalated substantially and is potentially fuelling the rosuvastatin market. According to the data published by the Centers for Disease Control and Prevention in May 2023, about 695,000 people in the United States died from heart disease in 2021—that's 1 in every 5 deaths. Moreover, one person dies every 33 seconds in the United States from cardiovascular disease and almost 2 in 5 adults in the United States have high cholesterol (total blood cholesterol ≥ 200 mg/dL). Thus, as the prevalence of cardiovascular diseases increases, so does the demand for this medication.

Rising awareness about health risks related to high cholesterol and obesity

Rosuvastatin is a statin medication used to lower cholesterol levels in the blood. It is a safe and effective medication for consumers. It is a statin medication used to lower levels of "bad" cholesterol (LDL-C), total cholesterol, and triglycerides in the blood. It is also used to prevent heart attacks, strokes, and other cardiovascular events in people with high cholesterol or a history of heart disease. The growing awareness among consumers about the health risks related to high cholesterol and the growing emphasis on health and wellness among consumers worldwide is propelling the global rosuvastatin market. Based on the analysis, a sedentary lifestyle and unhealthy eating habits are leading to a rise in the number of people with high cholesterol leading to obesity. This, in turn, increases the risk of health issues such as hyperlipidemia, hypercholesterolemia, and cardiovascular diseases. Additionally, based on the analysis, government campaigns aimed at raising awareness about reducing obesity contribute to the expansion of the global rosuvastatin market. For instance, on March 4, 2022, the Australian Government launched the National Obesity Strategy 2022-2032, a framework for action to prevent, reduce, and treat, overweight and obesity in Australia.

Key Restraints :

New alternative product launches and competitor drugs

Existing competition between statin drugs is substantially restraining the market. Multiple alternatives to statin medications are available in the market for reducing bad LDL cholesterol and high lipid levels. FDA-approved statins include atorvastatin, simvastatin, pravastatin, fluvastatin, lovastatin, and pitavastatin. Moreover, as per the analysis, owing to the side effects caused by statin medications, pharmaceutical companies are developing and launching new line therapies and products for the treatment of high cholesterol levels. For instance, on May 13, 2022, Zydus Lifesciences launched Bemdac (Bempedoic acid), an oral drug for treating patients with uncontrolled levels of LDL cholesterol (LDL-c). The drug is for patients who have tried lifestyle modifications and the maximum tolerated dose of statins. On Dec 22, 2021, the FDA approved Novartis Leqvio (inclisiran), a first-in-class siRNA (Small interfering RNA) to lower cholesterol and keep it low with two doses a year. Thus, the competition between statin drugs and new treatment therapies to reduce high LDL cholesterol is restraining the expansion of the market across the globe.

Future Opportunities :

Increasing investment in R&D and developing health care infrastructure

Cardiovascular disease (CVD) is the leading cause of death globally. The increasing prevalence of obesity across the globe and rising incidences of cardiovascular disease are driving the rosuvastatin market globally. Additionally, it is encouraging pharmaceutical companies for more investment in the research and development sector. The growing investments in pharmaceutical and biotechnology research and development activities are expected to drive the demand for this medication for the prevention of obesity and cardiovascular diseases. For instance, according to the 2021 European Union Industrial R&D Investment Scoreboard, health industries invested USD 199.24 billion in R&D in 2020, which accounted for 20.8% of total business R&D expenditure worldwide. Moreover, increasing allocations of funds by the government to the healthcare industry is expected to open new rosuvastatin market opportunities in the future. According to the data published by the India Brand Equity Foundation in August 2023, in the Union Budget 2023-24, the Indian government allocated USD 10.76 billion to the Ministry of Health and Family Welfare (MoHFW). The Indian government is planning to introduce a credit incentive program worth USD 6.8 billion to boost the country's healthcare infrastructure. Thus, a high prevalence of obesity and cardiovascular conditions and an increase in investment in Research and Development are likely to drive the rosuvastatin market growth and trends over the forecast period.

Top Key Players & Market Share Insights:

The market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development trends and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-