According to the latest report by IMARC Group, titled "Hydroxychloroquine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global hydroxychloroquine market witnessed strong growth during 2014-2019. Hydroxychloroquine (HCQ) is a derivative of chloroquine with the chemical formula C18H26ClN3O. It is a chemotherapeutic agent drug that was primarily used to suppress and treat acute attacks of malaria. It is widely known to be effective against the erythrocytic forms of malarial parasites. Apart from this, it is extensively utilized for the treatment of numerous autoimmune conditions. For instance, it is used for alleviating skin problems in lupus as well as avoiding pain or swelling caused due to arthritis. It is also being employed as a possible treatment of the rapidly spreading coronavirus disease (COVID-19) due to the immunosuppressive, anti-autophagy and antimalarial properties offered by the drug.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Hydroxychloroquine Market Trends:
The market is primarily driven by the rapid outbreak of COVID-19 across the globe. Since HCQ is widely being used as a potential treatment of the same, numerous clinical trials and experiments are currently underway to determine the efficacy of the drug against the virus. The results of these trials are expected to ascertain the positive demand for the drug on the global level. Apart from this, the increasing occurrence of malaria and various other chronic diseases across developing and underdeveloped countries are expected to provide an impetus to the market growth. The market is further driven by the growing incidences of autoimmune diseases, such as lupus erythematosus and rheumatoid arthritis, among individuals. This, along with the growing population and increasing health awareness amid masses, is anticipated to boost the uptake of HCQ. Extensive research and development (R&D) activities are also being conducted by several players in the field of medical sciences. This, coupled with the rising healthcare spending by several governments and the implementation of favorable government policies to promote global health, is expected to create a positive outlook for the market. On account of the aforementioned factors, the market is expected to witness robust growth during 2020-2025.
- On the basis of the dosage type, the market has been divided into 200 mg, 300 mg, 400 mg and others.
- Based on the distribution, the market has been classified into hospitals, retail and other pharmacies.
- On the basis of the application, the market has been categorized into rheumatoid arthritis, lupus erythematosus, malaria, COVID-19 and others.
- Based on the grade, the market has been segmented into USP, EP, pharmaceutical and other standard grades.
- On the basis of the administration, the market has been bifurcated into oral and intravenous.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Amneal Pharmaceuticals, Inc., Cardinal Health, Inc., Cipla Limited, Ipca Laboratories Limited, Laurus Labs, Lupin Limited, Mylan Inc., Novartis AG, Prasco, LLC, Dr. Reddy’s Laboratories Ltd., Groupe Sanofi, Teva Pharmaceutical Industries Ltd., Torrent Group, and Cadila Healthcare Ltd.
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