Hydroxychloroquine Market Growth Is Attributed To Its Use In COVID-19 Treatments

Date

4/8/2022 5:07:53 AM

(MENAFN- EIN Presswire)

Hydroxychloroquine Global market Report 2022– Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company's Hydroxychloroquine Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, April 8, 2022 /EINPresswire.com / -- The increasing number of coronavirus cases has increased the demand for hydroxychloroquine in 2020. The demand for hydroxychloroquine is growing attributing to its use in the treatment of COVID-19 patients and in the ongoing clinical trials. The US Food and Drug Administration has authorized emergency use of hydroxychloroquine for the treatment of COVID-19 patients in the hospital or enrolled by clinical trials. According to the World Health Organization (WHO), there were more than 10 million confirmed cases of COVID-19, including more than 500,000 deaths reported as of 3rd July 2020, globally. USA, Brazil, Russia, UK, India and Spain are the countries most affected by the virus. According to the hydroxychloroquine market forecast , the continuous increase in coronavirus cases across the globe is surging the demand and generating higher revenues for the market during the period.

The global hydroxychloroquine market size is expected to grow from $1.68 billion in 2021 to $1.80 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The change in the hydroxychloroquine market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The global hydroxychloroquine market share is expected to reach $2.38 billion in 2026 at a CAGR of 7.2%.

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Major players operating in the market are undertaking various strategic initiatives such as increasing production capacity and the expansion of manufacturing plants to meet the augmented global demand. For instance, in April 2020, Zydus Cadila announced that the company has ramped up its production capacity by 10 times for the production of hydroxychloroquine post the COVID-19 outbreak. Moreover, other manufacturers including IPCA Laboratories increased their monthly hydroxychloroquine production capacity five to six times during May 2020. Thus, the ramp-up of production capacities by major companies is a major trend shaping the hydroxychloroquine market.

North America is the largest region in the hydroxychloroquine market in 2021. The Middle East is expected to be the fastest growing region. The regions covered in the hydroxychloroquine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Major players covered in the global hydroxychloroquine industry are Bayer AG, Dr. Reddy's Laboratories, Zydus Cadila, Ipca Laboratories Ltd., Wallace Pharma, Teva, Mylan, Novartis, and Intas Pharmaceuticals.

TBRC's global hydroxychloroquine market analysis report is segmented By Drug Activity into Anti-Malarial Drug, Anti-Rheumatic Drug, Lupus Suppressant Drug, anti COVID-19 drug, others, by formulation into tablets, injection, by application into malaria, rheumatoid arthritis, lupus erythematosus, COVID-19, others, by distribution channel into hospital pharmacy, online pharmacy, specialty drug stores, retail pharmacy.

Hydroxychloroquine Global Market Report 2022 – By Drug Activity (Anti-Malarial Drug, Anti-Rheumatic Drug, Lupus Suppressant Drug, Anti COVID-19 Drug), By Formulation (Tablets, Injection), By Application (Malaria, Rheumatoid Arthritis, Lupus Erythematosus, COVID-19), By Distribution Channel (Hospital Pharmacy, Online Pharmacy, Specialty Drug Stores, Retail Pharmacy) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a hydroxychloroquine global market overview, forecast hydroxychloroquine global market size and growth for the whole market, hydroxychloroquine market segments, geographies, hydroxychloroquine market trends, hydroxychloroquine market drivers, restraints, leading competitors' revenues, profiles, and market shares.

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