© Copyright Nostre Net
Market Highlights
The hydroxychloroquine drug is used in the
treatment of malaria. Apart from malaria, it is also used for the treatment of
rheumatoid arthritis, lupus erythematosus, and recently discovered
COVID-19 disease. Hydroxychloroquine is more preferable than chloroquine as it
has fewer side effects.
The growth of the global hydroxychloroquine
drug market can be contributed to the growing need for rescue medication, high
demand for hydroxychloroquine drugs, due to the outbreak of COVID-19 globally,
and increasing prevalence of chronic diseases.
The Hydroxychloroquine
Market share is anticipated to grow at a CAGR of 28% significantly.
The market value is further expected to increase up to USD 3,784.43 Million in
the studied forecast period 2021-2028. Ipca is the global manufacturer of
hydroxychloroquine drugs. Sanofi S.A., Hikma pharmaceuticals, and Concordia
Healthcare are some of the competitors that dominate the global
hydroxychloroquine market. The key players are involved in awareness campaigns,
product approvals, mergers, and strategic collaborations to strengthen their
market positions. For instance, according to outsourcing-pharma.com, on 19 May
2020, sterling pharma kicks off hydroxychloroquine production. The US FDA
recently lifted import alerts on its plants, paving the way for the firm to
export it to the US. Cadila was already exporting it to the US, though the
numbers were not huge.
Key Players
Some of the key players in
hydroxychloroquine market are Zydus Cadila (India), Ipca laboratories
(India), Sanofi S.A. (France), Hikma Pharmaceuticals (UK), Novartis
International AG (Switzerland), Teva Pharmaceutical, Industries Ltd (Israel), Apotex
Corporation (Canada), Mylan N.V. (US), Concordia Healthcare (UK), Amneal
Pharmaceuticals, Inc. (US), Taj Pharmaceuticals (India), Sun Pharmaceutical
Industries Ltd. (India), Shanghai Pharmaceuticals Holding (China), Hanlim
Pharmaceutical (South Korea), Kyung Poong (South Korea), Laurus Labs Limited
(India), Covis Pharmaceuticals, Inc. (Switzerland), Lupin Pharmaceutical
(India).
Segmentation
The hydroxychloroquine
market outlook has been segmented by strength and application
Based on the strength, the
hydroxychloroquine market has been segmented into 200mg, 400mg, and others.
Among them, 200mg is commonly used to cure arthritis as well as for malaria and
recently for COVID-19. 400 mg dosage is commonly used for the treatment of
Malaria, Lupus Erythematosus, and Rheumatoid Arthritis once a week for the
adults. In addition, the increasing usage of hydroxychloroquine for COVID-19 treatment
is driving the growth of the market.
Based on the application, the segment
is classified into Coronavirus disease (COVID 19), Malaria, Rheumatoid
Arthritis, Lupus Erythematosus, Porphyria cutanea tarda (PCT), Q fever, and
others. The malaria segment dominated the global hydroxychloroquine market and
held the largest market share in 2019. The hydroxychloroquine is used for the
treatment of malaria, which is caused by the mosquito bite. It is a reasonably
inexpensive drug and generally sold as over the counter drug in the countries
such as India.
Regional Analysis
The market has divided into regions like
the Americas, Europe, Asia-Pacific, the Middle East, & Africa. America is
further segmented into North America and Latin America. America does not produce
anti-malarial drugs, as there is no prevalence of malaria. The outbreak of
COVID-19 has increased demand. North America is predicted to be one of the
largest markets for hydroxychloroquine in the coming years. The European
hydroxychloroquine market has been categorized as western Europe and eastern
Europe. Western Europe further classified as Germany, France, the UK, Italy,
Spain, and the rest of western Europe. Asia-Pacific is classified as China,
India, Japan, Australia, South Korea, and the rest of Asia-Pacific. India is
the largest manufacturer of antimalarial drugs. The hydroxychloroquine market
in the Middle East & Africa is categorized into the Middle East and Africa.
About US:
Market Research Future (MRFR), enable customers to
unravel the complexity of various industries through Cooked Research Report
(CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R),
Continuous-Feed Research (CFR), and Market Research & Consulting Services.
The Wall