Hydroxychloroquine Market Report, Trends, Distribution Channel, COVID-19 Impact, Growth, And Forecast 2027

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Hydroxychloroquine-Market

Hydroxychloroquine market growth is driven by rising demand for HCQ as a potential treatment option amidst the COVID-19 pandemic and surge in cases of malaria.

PORTLAND, OREGON, UNITED STATES, August 29, 2022 /EINPresswire.com / -- Allied Market Research published a new report, titled, 'Hydroxychloroquine Market by Product type (Tablet and Active Pharmaceutical Ingredients), Distribution channel (Hospital Pharmacy, online Pharmacy, Specialty Drug Store, and Retail Pharmacy), and disease (Malaria, Rheumatoid Arthritis, Lupus Erythematosus, Coronavirus, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027' The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Based on region, Asia-Pacific held the largest market share of more than four-fifths of the global hydroxychloroquine market in 2019, and is expected to maintain its lead position during the forecast period. Moreover, this region is expected to register the highest CAGR of 8.2% from 2020 to 2027. This is due to presence of major market players in countries such as India and China and increase in demand for the medication with high incidence of malaria in South-east Asian countries. However, North America would grow at a CAGR of 4.4% during the forecast period.

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Hydroxychloroquine market growth is driven by increase in demand for HCQ as a potential treatment option amidst the Covid-19 pandemic and surge in cases of malaria. However, ban in several countries due to lack of study data and fatal side-effects of the medicine hinder the market growth. On the other hand, repurposing of HCQ as an anti-cancer drug creates new opportunities in the coming years. According to the report, the global hydroxychloroquine industry generated $1.9 billion in from 2020 to 2027.

Based on product type, the API segment accounted for the highest market share in 2019, contributing to more than half of the global hydroxychloroquine market, and is estimated to maintain its leadership status during the forecast period. This is due to its efficacy in diagnosis, prevention, cure, treatment, and mitigation purposes. However, the tablet segment is projected to manifest the fastest CAGR of 8.4% from 2020 to 2027, owing to ease in availability and cost-effectiveness.

Based on disease, the malaria segment held more than two-fifths of the total market share of the global hydroxychloroquine market in 2019, and is estimated to maintain its highest contribution throughout the forecast period. Moreover, this segment is expected to witness the fastest CAGR of 29.8% from 2020 to 2027. This is attributed to rise in prevalence of malaria in the African region and widespread usage as an anti-malarial drug. The report also analyzes segments including rheumatoid arthritis, lupus erythematosus, coronavirus, and others.

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Market players grabbing the largest pie:

• Cadila Healthcare Ltd.

• Hikma Pharmaceuticals PLC

• Ipca Laboratories Ltd.

• Mylan N.V.

• Novartis AG

• Pfizer Inc.

• Sanofi S.A.

• Taj Pharmaceuticals Ltd.

• Teva Pharmaceutical Industries Ltd.

• Torrent Pharmaceuticals Ltd.

• Zydus Cadila

Covid-19 Scenario:

• The demand for hydroxychloroquine increased ten times due to its potential in the treatment of Covid-19 infected patients. However, there are conflicts about its effectiveness.

• India, being the largest producer of this drug, imparted ban on export activities to fulfill the increasing demand across the countries as the Covid-19 cases rise. The Indian Council of Medical Research released guidelines to use HCQ in the prophylaxis of Covid-19.

• A huge number of clinical trials have been started across the world to determine the efficacy and safety of HCQ in the treatment and prevention of the coronavirus infection. Researchers are waiting the final results.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of“Market Research Reports” and“Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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