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The global hydroxychloroquine market witnessed strong growth during 2014-2019. Hydroxychloroquine (HCQ), with the chemical formula C18H26ClN3O, is a chemotherapeutic agent drug that is primarily used for the prevention and treatment of malaria. It acts against erythrocytic forms of malarial parasites and is majorly administered in the form of an oral tablet. It is also used for the treatment of various other diseases, such as systemic lupus erythematosus, rheumatoid arthritis, Q fever and Porphyria Cutanea Tarda (PCT) and is being examined for the possible treatment of the rapidly spreading COVID-19 disease. It exhibits immunosuppressive, anti-autophagy and antimalarial properties as it suppresses immune functions and presents antigens and cytokines in the body.
The sudden outbreak of the COVID-19 pandemic across the globe is one of the key factors driving the growth of the market. Various clinical trials and experiments are being conducted across the globe to analyze the efficacy and safety of hydroxychloroquine for the treatment of adults hospitalized with the coronavirus disease. The increasing prevalence of malaria and various other chronic diseases, especially in developing and underdeveloped countries, is also leading to the widespread adoption of this drug. In line with this, the rapidly rising cases of autoimmune diseases, such as lupus erythematosus and rheumatoid arthritis, are acting as another growth-inducing factor. Other factors, including the implementation of favorable government policies to promote global health, along with extensive research and development (R&D) activities in the field of medical sciences, are projected to drive the market further. Looking forward, IMARC Group expects the global hydroxychloroquine market to experience robust growth during the next five years.
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The report has also analysed the competitive landscape of the market with some of the key players being Amneal Pharmaceuticals Inc., Cardinal Health Inc., Cipla Ltd., Ipca Laboratories Ltd., Laurus Labs, Lupin Limited, Mylan N.V., Novartis AG, Prasco Laboratories, Dr. Reddy’s Laboratories Ltd., Sanofi S.A., Teva Pharmaceutical Industries Ltd., Torrent Pharma, Zydus Cadila, etc.
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