Overview and Scope
Hydroxychloroquine refers to a quinolone-derived medication that is used to treat malaria. In countries or regions where it is recognised that other medications (such chloroquine) may not be effective, it is also used to prevent malaria infection. In some hospitalised individuals, hydroxychloroquine may also be used to treat coronavirus (COVID-19).
Sizing and Forecast
The hydroxychloroquine market size has grown strongly in recent years. It will grow from $2.07 billion in 2023 to $2.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising prevalence of malaria, growing awareness of hydroxychloroquine, wide availability, autoimmune diseases.
The hydroxychloroquine market size is expected to see strongly grown in the next few years. It will grow to $2.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to growing demand for combination therapies, increased government funding, growing patient population, increased access to healthcare, growing demand for personalized medicine. Major trends in the forecast period include targeted therapies, telemedicine, drug repurposing, sustainability and environmental impact, global health equity, biotechnology advancements.
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Segmentation & Regional Insights
The hydroxychloroquine market covered in this report is segmented –
1) By Drug Activity: Anti-Malarial Drug, Anti-Rheumatic Drug, Lupus Suppressant Drug, Anti COVID-19 Drug, Other Drug Activity
2) By Formulation: Tablets, Injection
3) By Application: Malaria, Rheumatoid Arthritis, Lupus Erythematosus, COVID-19, Other Applications
4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Speciality Drug Stores, Retail Pharmacy
North America was the largest region in the hydroxychloroquine market in 2023. Middle East is expected to be the fastest-growing region in the hydroxychloroquine market report. The regions covered in the hydroxychloroquine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The increasing number of coronavirus cases has increased the demand for hydroxychloroquine market. The demand for hydroxychloroquine is growing attributing to its use in the treatment of COVID-19 patients and the ongoing clinical trials. The US Food and Drug Administration has authorized the emergency use of hydroxychloroquine for the treatment of COVID-19 patients in the hospital or enrolled in clinical trials. According to the World Health Organization (WHO) Coronavirus (COVID-19) Dashboard, as of September 21, 2023, there have been 770,778,396 confirmed cases of COVID-19, including 6,958,499 deaths, reported globally. USA, Brazil, Russia, UK, India, and Spain are the countries most affected by the virus. Therefore, the continuous increase in coronavirus cases across the globe is surging the demand for hydroxychloroquine, generating higher revenues for the hydroxychloroquine market during the period.
Key Industry Players
Major companies operating in the hydroxychloroquine market include Bayer AG, Dr. Reddy’s Laboratories Ltd., Zydus Group, Ipca Laboratories Ltd., Wallace Pharma, Teva Pharmaceuticals Inc., Mylan Pharmaceuticals Inc., Novartis AG, Intas Pharmaceuticals Ltd., Lupin Limited, Shanghai Zhongxi Sanwei Pharmaceutical Co. Ltd., Torrent Pharmaceuticals Ltd., BSE healthcare, Hikma Pharmaceuticals PLC, Sandoz International GmbH, Cipla Limited, Shenhua Pharmaceutical Co. Ltd., Sanofi S.A., Macleod Pharmaceuticals Ltd., McW Healthcare, Laurus Labs, TAJ Pharmaceuticals, Wuhan Wuyao Pharmaceutical Co. Ltd., MAAN Medex, Cinkate Corporation, Concordia Healthcare, Pfizer Inc., Cadila Pharmaceuticals, Hetero Drugs Ltd., Jubilant Generics Limited, Alembic Pharmaceuticals Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma USA Inc., Alkem Laboratories Ltd., Glenmark Pharmaceuticals Ltd., Unichem Laboratories Ltd., Wockhardt Limited, Emcure Pharmaceuticals Ltd., Strides Pharma Science Ltd., Indoco Remedies Ltd.
The hydroxychloroquine market report table of contents includes:
1. Executive Summary
2. Hydroxychloroquine Market Characteristics
3. Hydroxychloroquine Market Trends And Strategies
4. Hydroxychloroquine Market – Macro Economic Scenario
5. Global Hydroxychloroquine Market Size and Growth
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31. Global Hydroxychloroquine Market Competitive Benchmarking
32. Global Hydroxychloroquine Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Hydroxychloroquine Market
34. Hydroxychloroquine Market Future Outlook and Potential Analysis
35. Appendix
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