Global Hydroxychloroquine Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Hydroxychloroquine Market” is an upcoming report in the process of finalization at MarketResearch.biz The report comprises insights and information into details of revenues, investments, R&D, sales, leaders in the market, vaccine and drug development and testing details, government funding and aid, etc. The report comprises other information, such as the various trends, drivers, restraints, opportunities, and threats, along with historical and projected revenues. Details included in the company profile section of the global hydroxychloroquine market include top players’ revenues, technological innovations, recent and key developments, strategies, acquisitions and mergers, and market footprint. The global hydroxychloroquine market is segmented on the basis of disease type, distribution channel, and region. The report is further segmented country-wise to enable a deeper and more accurate study and presentation of findings and information.
Hydroxychloroquine (HCQ) is also known as Hydroxychloroquine sulfate, and sold under trade names Plaquenil, Axemal, Dolquine, Hydroquin, Quensyl, Quinoric, and Quineprox. It is a drug used mainly to prevent and treat malaria, which is caused by the mosquito of the Anopheles genus. HCQ is also used for the treatment of rheumatoid arthritis, porphyria cutanea tarda, Q fever, lupus, and COVID-19. This medicine is taken orally and may cause some unwanted side effects, and can only be sold with a valid prescription. Hydroxychloroquine is essential in treating rheumatic disease during pregnancy. It belongs to a class of medications known as quinoline-containing antimalarial drugs and disease-modifying antirheumatic drugs (DMARDs). In addition, it can prevent pain or swelling in arthritis sufferers, and can reduce skin problems in systemic lupus erythematosus.
The spread of coronavirus or COVID-19 infection in countries across the globe has suddenly and rapidly increased since the first report of the outbreak in Wuhan, China, in December 2019. The virus is transmitted via respiratory droplets of an infected person if inhaled, or can be transmitted by transferring droplets to the user’s face, eyes, or nose. Urgent focus and initiatives to develop a vaccine is currently underway in various countries across the globe. Trials for hydroxychloroquine are just beginning, and its effectiveness against the COVID-10 is still unknown. This is also the case with regard to its safety profile, toxicity, and evidence-based clinical effectiveness against the virus, which is yet to be determined. Hydroxychloroquine export to the US happened after a request by US President, Donald Trump, to India’s Prime Minister, Narendra Modi. The Indian government obliged the request by lifting its self-imposed exports ban on drugs and medical and pharmaceutical products from the country in view of the COVID-19 pandemic. India produces majority share of hydroxychloroquine volume, and accounts for 70% of global supply. Demand for hydroxychloroquine is expected to continue to increase as the search for a vaccine, treatment, and cure progresses, and focus on combatting the COVID-19 intensifies, and new players enter the market.
HCQ is used in combination with an antibiotic azithromycin for potential treatment of coronavirus disease. The US Food and Drug Administration (FDA) has approved hydroxychloroquine as a possible treatment for COVID-19. Increasing prevalence of other diseases such as malaria, lupus erythematosus, and rheumatoid arthritis among others is another major factor expected to drive growth of the global hydroxychloroquine market. Manufacturers and suppliers operating in the target market have potential growth opportunities owing to growing end-use demand across the globe. Top manufacturers such as Novartis, Mylan, Teva, etc. have provided hydroxychloroquine drugs at no cost to treat COVID-19 patients. India tops the chart for hydroxychloroquine production and stocks as it is required year-round to combat malaria outbreaks. According to the World Health Organization malaria report, in 2018, India had around 3% (6.8 million) malaria cases of the global total, and accounted for around 2% (8,000) deaths of the global total. Hydroxychloroquine may cause nausea, upset stomach, vomiting, cramps, or diarrhea in some people, and this may occur until the body adjusts to it. Side-effects of the drug can act as a key factor restraining demand to a certain extent. Other common effects include loss of appetite, weakness, tiredness, and headache, but these go away after some time.
By Disease Type: Among the disease type segments, the coronavirus disease segment is projected to account for majority revenue share in the global hydroxychloroquine market owing to major focus on containing the outbreak and combating the COVID-19 pandemic across the globe.
By Distribution Channel: Among the distribution channel segments, the hospital pharmacy segment is expected to register major revenue share in the target market owing to growing demand for HCQ to treat COVID-19 patients and increasing prevalence of malaria, especially in some developing economies.
The market in North America is projected to register fastest growth in the coming years owing to increasing government endorsements and a large number of clinical trials related to COVID-19, and increasing prevalence of lupus autoimmune disease. The market in Asia Pacific is expected to register significant growth in terms of revenue owing to increasing production of hydroxychloroquine, especially in India. India manufactures around 70% of the global supply of hydroxychloroquine, and Indian pharmaceutical companies have increased their monthly production from 40 MT in April 2020, to over 70 MT over the following months.
Global Hydroxychloroquine Market Segmentation:
By Disease Type
- Coronavirus Disease (COVID-19)
- Q Fever
- Rheumatoid Arthritis
- Lupus Erythematosus
- Porphyria Cutanea Tarda (PCT)
- Other Disease Types
By Distribution Channel
- Specialty Drug Store
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Rest of North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Latin America
- Middle East
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Novartis International AG
- Mylan N.V.
- Sanofi S.A.
- Bayer AG
- Teva Pharmaceutical Industries Ltd.
- Zydus Cadila Ltd.
- Ipca Laboratories Ltd.
- Wallace Pharmaceuticals Ltd.
- Cipla Limited
- Lupin Limited
- Laurus Labs Limited
- Intas Pharmaceuticals Ltd.
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