Overview of CRESTOR
CRESTOR, known generically as rosuvastatin, is a potent statin used to lower cholesterol levels and reduce the risk of cardiovascular diseases. Here’s a detailed analysis of the market and sales projections for this drug.
Market Size and Historical Performance
Historically, CRESTOR has been one of the most successful statin drugs on the market. At its peak, CRESTOR generated annual sales of $6.62 billion in 2011[2].
Current Market Status
After losing patent protection, CRESTOR's sales have declined significantly. For instance, in the first three quarters of 2020, CRESTOR sales for AstraZeneca were $884 million, representing an 11% year-over-year decline. European sales, which were part of a significant market for CRESTOR, contributed only $94 million, down 16% from the same period in 2019[2].
Sales Projections
Despite the decline, the overall market for rosuvastatin, including generic versions, is expected to grow. Here are some key projections:
Global Market Growth
The rosuvastatin market, which includes CRESTOR and its generic counterparts, is projected to grow at a CAGR of 4.0% to 4.7% from 2023 to 2031. By 2031, the market is expected to reach USD 655.99 million to USD 22.9 billion, depending on the scope of the market analysis[1][3].
Regional Performance
- North America: This region has the highest market share, driven by a well-established healthcare infrastructure and high incidence of cardiovascular diseases. The U.S. accounts for the majority of the rosuvastatin market share in North America, with significant demand due to high cholesterol levels and cardiovascular disease prevalence[3].
- Asia Pacific: This region is expected to witness significant growth due to a large patient population, developing medical infrastructure, and government initiatives to reduce cardiovascular disease burden[3].
Factors Driving Market Growth
Several factors contribute to the ongoing demand for rosuvastatin:
Increasing Incidence of Cardiovascular Diseases
The rising incidence of cardiovascular diseases (CVD) is a major driver. Unhealthy lifestyles, poor dietary habits, smoking, and lack of physical activity have increased CVD prevalence globally. Rosuvastatin's effectiveness in reducing LDL cholesterol makes it a critical treatment option[1].
Aging Population and Co-morbid Conditions
The aging population and the prevalence of co-morbid conditions such as hypertension and diabetes further increase the demand for rosuvastatin[1].
Online Pharmacies and E-commerce
The growing trend of purchasing pharmaceutical products through online pharmacies is expected to provide lucrative growth opportunities. For example, the Indian e-pharmacy market is predicted to grow at a compounded annual rate of 44% to USD 4.5 billion by 2025[3].
Competitive Landscape
The rosuvastatin market is highly competitive, with several large players and numerous small and medium-sized enterprises. Companies are focusing on expanding their product offerings and increasing market share through mergers, acquisitions, and partnerships. AstraZeneca's strategy of divesting legacy drugs, including the sale of CRESTOR rights in Europe to Grünenthal, reflects this competitive landscape[2][3].
Distribution Channels
The market is segmented by distribution channels, including hospital pharmacies, retail pharmacies and drug stores, and online pharmacies. Online pharmacies are expected to hold the highest CAGR over the forecast period due to the increasing trend of e-commerce in pharmaceutical sales[3].
Challenges and Restraints
Despite the growth opportunities, the market faces some challenges:
Regulatory Conditions
Stringent regulatory conditions and intellectual property rights can restrain market growth. However, the availability of generic products and increasing R&D investments are expected to mitigate these challenges[5].
Generic Competition
The loss of patent protection for CRESTOR has led to significant generic competition, which has impacted sales. However, this competition also drives innovation and reduces prices, making the drug more accessible to a wider population[2].
Key Takeaways
- The rosuvastatin market, including CRESTOR, is expected to grow at a CAGR of 4.0% to 4.7% from 2023 to 2031.
- The market is driven by the increasing incidence of cardiovascular diseases, an aging population, and the prevalence of co-morbid conditions.
- North America and Asia Pacific are key regions driving market growth.
- Online pharmacies are expected to play a significant role in the distribution of rosuvastatin.
- The market faces challenges from generic competition and regulatory conditions but is expected to benefit from increasing R&D investments.
FAQs
Q: What is the current market size of rosuvastatin?
The rosuvastatin market size was valued at USD 463.85 million in 2022 and USD 480.58 million in 2023[3].
Q: What is the projected market size of rosuvastatin by 2031?
The market is projected to reach USD 655.99 million to USD 22.9 billion by 2031, depending on the scope of the analysis[1][3].
Q: What are the main drivers of the rosuvastatin market?
The main drivers include the increasing incidence of cardiovascular diseases, an aging population, and the prevalence of co-morbid conditions such as hypertension and diabetes[1].
Q: Which regions are expected to see significant growth in the rosuvastatin market?
North America and Asia Pacific are expected to witness significant growth due to their established healthcare infrastructure and large patient populations[3].
Q: How is the competitive landscape of the rosuvastatin market?
The market is highly competitive with several large players and numerous small and medium-sized enterprises, with companies focusing on mergers, acquisitions, and partnerships to expand their market share[3].
Sources
- Verified Market Research: Rosuvastatin Market Size, Scope, Trends, Analysis & Forecast.
- Fierce Pharma: AstraZeneca hands European Crestor rights to old customer Grunenthal for $350M.
- Consegic Business Intelligence: Rosuvastatin Market Size, Share| Trends Analysis 2031.
- AstraZeneca: Q1 2024 results announcement.
- Transparency Market Research: Rosuvastatin Market Trends and Forecast to 2026.
