Hydroxychloroquine Market Size, Share, Growth Report 2030

The global Hydroxychloroquine market value was estimated at 542 (USD Million) in 2019 and is projected to hit 5,000 (USD Million) by 2025 growing at a CAGR of over 33% during the period from 2019 to 2025. The report offers valuation and analysis of the Hydroxychloroquine market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Million).

Introduction

Hydroxychloroquine also referred as Hydroxychloroquine phosphate is the drug that is used for treating malaria and certain auto-immune disorders including lupus & rheumatoid arthritis. Moreover, the medicine is the part of disease modifying anti-rheumatic drugs. It has the ability for alleviating skin problems in lupus and avoiding pain or swelling caused due to arthritis. However, the drug is not approved by the U.S. FDA to treat coronavirus.

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Furthermore, Hydroxychloroquine is recently studied as the best possible drug for treating COVID-19. The generic form of the drug is also available and it can also be taken orally. The medicine can also be utilized as a part of combination therapy.  Its medical application was approved in the U.S. during 1955 to treat many chronic diseases.

Details of the Report:

Market Growth Dynamics

According to NIH, Hydroxychloroquine is used for treating malaria as well as rheumatoid conditions. Various studies conducted by NIH concluded that the medicine displayed anti-viral features and the capability to alter immune system activities along with establishing of safe profile at apt dosages. This, in turn, is likely to enhance the drug potential and its effectiveness in treating novel coronavirus.

Moreover, Hydroxychloroquine is found to have less side effects and low toxicity even if overdosed. Apparently, developed nations has good supply of the drug due to huge presence of the drug manufacturers in these nations.  Reportedly, when the combination of Hydroxychloroquine and azithromycin drug treatment was given to nearly 40 COVID -19 patients in France, it helped in clearing the virus from their bodies and this was concluded through the nasal swabs samples of the patients. For the record, the U.S. has been using it as a preventive medicine against COVID-19 recently.

Hospitals in the U.S. are storing the drug after the U.S. president termed the drug as the game-changer in treating of coronavirus. Even some countries of Europe along with China and South Korea have recommended the use of the drug for treating COVID-19 patients. Moreover, the drug has been advocated in countries like India as a measure to prevent the coronavirus in people who have been in contact with COVID positive persons and those falling in high risk zone. All these aforementioned aspects are likely to favorably leverage the growth of the Hydroxychloroquine market over the forecast period.

Asia Pacific To Contribute Lucratively Towards Market Share By 2025

The growth of the Hydroxychloroquine market in the region can be attributed to India being the leading producer of the drug and China being the largest exporter of the raw materials for the drug production. Apart from this, it is cost-effective drug in India costing nearly lesser than rupees three per tablet.

According to Forbes, India produces 70% of the drug and had banned it in March 2020. However, U.S. President Trump requested for the supply of the drug from India as he considered it a game-changer in medicine history and treating coronavirus. For the record, the U.S. government has placed an order of 29 million doses of the drug to be imported from India. This resulted in the lifting of export ban by the country for India’s neighbors as well as the U.S. Apart from this, nearly 36 countries have demanded the drug and this included Italy, Spain, Australia, Germany, Israel, Indonesia and the U.S. These abovementioned factors will drive the business growth in Asia Pacific over the forthcoming years.

As per the authentic sources, India is expected to export the drugs to more than 20 countries including Mauritius, U.S., Canada, Seychelles, Brazil, UK, Bangladesh, Spain, Afghanistan, Germany, France, Bahrain, Australia, Nepal, Bhutan, Maldives, Dominican Republic, Israel, New Zealand and South Africa for helping these countries combat novel coronavirus effectively. This aspect will create lucrative growth avenues for the market in the Asia Pacific over the ensuing years.

Furthermore, presence of leading API manufacturers such as Mangalam Drugs, Laurus Labs, Abbott India, Rusan Pharma, Unichem Remedies, and Vijayasri Organics in India will contribute notably towards the market earnings in Asia Pacific region. The country also has the established presence of key drug manufacturers like IPCA, Laurus Labs, and Zydus Cadila.

Key players profiled in the report include Teva, Mylan, Novartis, Cadila Healthcare, Torrent Pharma, Shanghai Zhongxisanwei, BSE healthcare, Sandoz, HIKMA, IPCA Laboratories, Cipla Limited, Shanghai Pharma, Intas Pharmaceuticals, Lupin Limited, Shenhua Pharm, Sanofi, H-QYN, Macleod Pharmaceuticals, McW Healthcare, Laurus Labs, TAJ Pharma, Wuhan Wuyao Pharmaceutical, MAAN Medex, Cinkate, and Concordia Healthcare.

The global Hydroxychloroquine market is segmented as follows:

By Type

• USP Standards Grade
• Pharmaceutical Standards Grade
• EP Standards Grade
• Others

By Application

• Rheumatoid Arthritis
• Skin Lesions
• Systemic Lupus Erythematosus
• Chronic Discoid Lupus Erythematosus
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa