PUBLISHER: Orion Market Research | PRODUCT CODE: 1215663
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215663
Title:Global Pravastatin Market Size, Share, and Trends Analysis Report, by Dosage Type (10 mg Tablet, 20 mg Tablet, 40 mg Tablet, and 80 mg Tablet) and by End User (Children and Adults), Forecast Period (2022-2028).
The global pravastatin market is anticipated to grow at a CAGR of 5.4% during the forecast period. The rising pharmaceutical research activities are generating development opportunities for the market. For instance, in July 2021, a study was conducted across the US hospitals between January and September 2020 to show that the Statins reduce the risk of mortality in COVID-19 patients with a history of high blood pressure or heart disease. The study was conducted on around 10,500 patients across 104 US hospitals. All of them had been admitted with a serious COVID-19 disease. After analyzing the data by American Heart Association, it was concluded that statin use was similarly linked to a 25% lower risk for developing a severe outcome as a result of COVID-19 infection. Pravastatin reduces LDL (bad) cholesterol and triglycerides in the blood and increases HDL (good) cholesterol. It is only available as a generic drug and it doesn't have a brand name version. It comes only in the form of a tablet. This report will further analyze all the primary as well as secondary factors that are directly or indirectly influencing the growth of the pravastatin market during the forecast period.
The global pravastatin market is segmented based on dosage type and end-users. Based on the dosage type, the market is segmented into 10 mg tablets, 20 mg tablets, 40 mg tablets, and 80 mg tablets. Based on the end-users, the market is sub-segmented into children and adults. These segments can further be customized as per the requested research requirements.
Geographically, the global pravastatin market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The market can also be analyzed for a particular region or country level as per the requirement. Europe holds a considerable share in the global pravastatin market. The factors driving the European market growth include the rising prevalence of cardiovascular disorders. According to the European Cardiovascular Disease Statistics 2017, there were 3.9 million fatalities reported due to cardiovascular diseases every year in Europe, while 1.8 million deaths were reported in the EU partner nations every year. This represents 45% and 37% of the total fatalities registered across the Europe and EU respectively. Thus, the rising burden of cardiovascular disease will increase the demand for pravastatin drugs in this region.
The major companies serving the global pravastatin market include Bristol-Myers Squibb, Novartis International AG, Glenmark Pharmaceuticals Ltd., Dr. Reddy's Laboratories, Cipla Inc., Lupin Ltd., Aurobindo Pharma Ltd., and Teva Pharmaceutical Industries Ltd., among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market.
Research Methodology
The market study of the global pravastatin market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: