Demand for Hydroxychloroquine Tablets for Treatment of Covid-19 to Raise the Growth of Hydroxychloroquine Sulphate Market by 2026
Research Nester released a report titled “Hydroxychloroquine Suphate Market: Global Demand Analysis & Opportunity Outlook 2026” which delivers detailed overview of the global hydroxychloroquine sulfate market in terms of market segmentation by type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for hydroxychloroquine sulfate is projected to grow at a CAGR of 5.7% during the forecast period, i.e, 2020-2026. The market is anticipated to attain a significantly high market value of USD 1,405.7 million by the end of 2026. Hydroxychloroquine sulphate, also known as hydroxychloroquine, is an antimalarial medication which is approved for the treatment and prevention of certain types of diseases such as malaria, systemic lupus erythematosus, and rheumatoid arthritis among several others. This medicine is listed on the World Health Organization's List of Essential Medicines as it is the safest and most effective medicines required in every health system. The market is segmented by type, by application and by region, out of which, the market for hydroxychloroquine is segmented into rheumatoid joint, adolescent chronic joint, discoid & systemic lupus erythmatosus and skin lesions.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In the Asia Pacific region, the market in China is predicted to hold the largest share in the global market by attaining a value of USD 305.0 million by 2026.The market in North America is estimated to witness the highest share in the market with the largest market in the United States, which further is the projected to be the fastest growing market in the region at a CAGR of 6.3% during the forecast period.
Growing Incidences of Diseases to Drive the Market Growth
According to a report by the United Nations, approximately 962 million people globally were aged above 60 years in 2017, which is expected to be double by the end of 2050.
Rising elderly population is a major factor which is estimated to contribute towards the higher demand for the drug. In addition to this, the numerous on-going research and development activities which support the use of this medicine for the treatment of various other diseases are further predicted to boost the overall market demand for hydroxychloroquine during the forecast period. However, there are several substitutes for hydroxychloroquine available in the market, which can cure the conditions in a better way and thus are estimated to restrict the market growth.
This report also provides the existing competitive scenario of some of the key players of the global hydroxychloroquine sulfate market which includes company profiling ofSandoz International Gmbh, Teva Pharmaceutical Industries Ltd. (TLV: TEVA), Mylan N.V., Hikma Pharmaceuticals Plc, Ipca Laboratories Limited, Shanghai Pharmaceutical Group Co., Ltd., Jiangsu Shenhua Pharmaceutical Co., Ltd., Sanofi S.A. (EPA: SAN), Taj Pharmaceuticals Limited and Cinkate Corporation.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hydroxychloroquine sulfate market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.