Overview

Hydroxychloroquine Market is poised to register a CAGR of 7.9% during the forecast period 2022 to 2028.

COVID-19 is the disease that is caused by the newly found coronavirus, has affected over 200 countries. This disease is mainly transmitted by saliva and mucus droplets of an infected patient. There are no specific vaccines or treatments available for the COVID-19. Currently, many research activities and clinical trials are being conducted for developing vaccines. The hydroxychloroquine, which is an anti-malarial drug. This drug is also utilised for treating Q fever, lupus erythematosus, rheumatoid arthritis and it is being discussed that it can be used for treating COVID-19. The hydroxychloroquine, when combined with a common antibiotic azithromycin, can be effective in treating COVID-19.

Through lab testing and in-vivo studies, it has been estimated that hydroxychloroquine shall prove to be a game changer in terms of COVID-19 treatment. India is one of the leading producers of hydroxychloroquine and with the rising global hydroxychloroquine market demand, multiple Indian pharmaceutical companies have escalated the production of this drug. As of now, India produces over 20 crore 200 mg tablets per month. This drug is not developed in the United States and Europe as these regions don’t face a malarial outbreak which has increased the demand of hydroxychloroquine in countries like Italy, Spain, U.S.A; countries with the highest number of COVID-19 patients.

The global market is fragmented into dosage type, application, distribution channel and region. The dosage type segment is further classified into 100mg, 200mg and 400mg. The 400mg tablets are on a high demand as they can effectively be used for treating COVID-19 with once a week dosage. The application segment is further categorised into malaria, rheumatoid arthritis, COVID-19, Q fever, PCT and others. The COVID-19 segment shall escalate its growth throughout the forecast period with the emergence of this pandemic since December 2019 in Wuhan, China. Private and public hospitals across the world have started treating their COVID-19 patients with hydroxychloroquine. The distribution channel segment is bifurcated into hospital pharmacy, retail pharmacy, online pharmacy and specialty drug stores. The hospital pharmacy segment is predicted to hold the largest hydroxychloroquine market share over the forecast period. With the recent outbreak, administrations across the world have restrained the public sale of hydroxychloroquine, particularly without a prescription.

Key market players associated are Novartis International AG, Sanofi S.A., Amneal Pharmaceuticals, Inc., Laurus Labs Limited, Prasco Laboratories, Cardinal Health, Concordia Pharmaceuticals Inc., Intas Pharmaceuticals, Cipla, McW Healthcare of Indore, Macleods Pharmaceuticals, Bengal Chemicals & Pharmaceuticals Ltd., Dr. Reddy's Laboratories, Covis Pharmaceuticals, Inc., Aphena Pharma Solutions Tennessee, Inc., Mylan N.V., McKesson Corporation, Lupin Pharmaceutical, Sun Pharmaceutical Industries Ltd. Ipca Laboratories, Teva Pharmaceutical Industries Ltd, Zydus Cadila, Wallace Pharmaceuticals.

Sanofi has revamped the production of hydroxychloroquine with over 90% capacity during the outbreak. Similarly, Amneal Pharmaceuticals Inc. donated over 3.2 million tablets of hydroxychloroquine sulphate in Louisiana and New York. Furthermore, Laurus Labs Ltd. produced over two lakh hydroxychloroquine tablets to the government of Telangana, India. The West Bengal Drug Controller approved the licensing of Bengal Chemicals & Pharmaceuticals Ltd. for producing hydroxychloroquine tablets. They have manufactured over 780,000 tablets and they have a demand of over 2 million tablets from over 16 Indian states.

Hydroxychloroquine Market Segmentation:

By Dosage Type

100mg
200mg
400mg

By Application

Malaria
COVID-19
Rheumatoid Arthritis
Q Fever
PCT
Others

By Distribution Channel

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Specialty Drug Stores

By Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key market trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global hydroxychloroquine market by dosage type, by application, by distribution channel and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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