Hydroxychloroquine Market Size Poised to Hit USD 3,246.88 Million and Grow at a CAGR of 12.44% by 2030
Global Hydroxychloroquine Market report broadly comprises of absolute and distinct analysis of the market drivers and restraints, major market players involved in this industry, exhaustive analysis of the market segmentation, and competitive analysis of the key players. This report is formulated by considering several steps which can be summarised as follows. 1. Create a title page 2. Affix a table of contents 3. Abridge the report in the executive summary 4. Write an introduction 5. Write the qualitative research segment of the body 6. Write the survey research section of the body 7. Summarize the types of data used in drawing conclusions 8. Share findings based on research 9. State conclusions and call the reader to action.
A consistent Global Hydroxychloroquine Market report proves to be the finest and excellent market report as it is generated with the myriad of critical factors. This market research report is one of the key factors used in maintaining competitiveness over competitors. Emerging product trends, major drivers, challenges and opportunities in the market are identified and analysed apparently while generating this report.
Data Bridge Market Research analyses that the hydroxychloroquine market, which was USD 1,270.86 million in 2022, is expected to reach USD 3,246.88 million by 2030, at a CAGR of 12.44% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Market Overview:
According to the WHO, there were over 228 million malaria cases reported worldwide in 2018, and there were 405,000 malaria-related deaths. The most vulnerable age group to malaria is children under the age of five; in 2018, they made up 67% (or 272,000) of all malaria-related deaths that were reported globally. The use of hydroxychloroquine to prevent and treat acute malaria attacks is a result of the increased prevalence of malaria. The malarial parasites Plasmodium ovale (P. ovale), Plasmodium malariae, Plasmodium vivax, and vulnerable forms of P. falciparum have all been successfully combatted by hydroxychloroquine.
Market Definition
A chemotherapeutic medication called hydroxychloroquine (HCQ) is primarily used to treat and prevent malaria. It works against erythrocytic malarial parasite types and is often administered orally as a tablet. Additionally, it is used to treat diseases such as systemic lupus erythematosus, rheumatoid arthritis, Q fever, and porphyria cutanea tarda (PCT), and it is undergoing clinical trials as a treatment for the quickly spreading COVID-19 disease. It is immunosuppressive, anti-autophagy, and antimalarial because it inhibits immune functions and manifests antigens and cytokines in the body.
Drivers
- Rise in the prevalence of malaria in low-income countries will bolster the market growth
The increase in malaria prevalence in low-income countries is expected to boost the market’s growth rate. A potentially fatal infectious disease called malaria is conveyed by female Anopheles mosquitoes and is brought on by the Plasmodium parasite. Climate change is facilitating the malaria epidemic’s expansion and enhancing mosquito-borne diseases’ viability. In 2019, there were around 229 million malaria cases and 409,000 fatalities worldwide, according to the WHO. Tropical regions, including Africa, Asia, Central America, and South America, have been most affected by malaria. Additionally, Africa, Southeast Asia, the Eastern Mediterranean, and the Western Pacific are the regions where malaria is most prevalent.
- Rising cases of COVID will drive the market growth
On April 8th, 2020, there were 73,639 confirmed cases and 6,695 fatalities. The government is looking for efficient solutions for the patients’ treatment as a result of the COVID-19 outbreaks. The countries are searching for choices that are easily accessible for the treatment of COVID-19 because no medications have been approved for the disease. The majority of countries, including the US, Brazil, Spain, Bahrain, Germany, Nepal, Bhutan, and Bangladesh, have moved their focus to hydroxychloroquine due to its proven antiviral action, which may help to activate the immune system. This in turn is influencing the increased use of hydroxychloroquine medications.
Recent Developments
- In February 2022, Accord Healthcare Inc. introduced the additional strengths of hydroxychloroquine sulfate tablets in the United States. The generic version of Plaquenil, hydroxychloroquine, is typically used to treat malaria, lupus, and rheumatoid arthritis. The creation and commercialization of these distinctive capabilities demonstrate Accord’s dedication to addressing patients’ unmet requirements for accurate dosage of significant medications in the United States. The newly released item completes Accord’s earlier 200mg Hydroxychloroquine tablet release.
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Some of the major players operating in the hydroxychloroquine market are:
- Actiza Pharmaceutical Private Limited (India)
- AdvaCare Pharma (U.S.)
- Ipca Laboratories Ltd. (India)
- Bliss GVS Pharma Ltd. (India)
- GeoVax (U.S.)
- Sumaya Biotech (Germany)
- VLP Therapeutics (U.S.)
- OSIVAX (France)
- AJANTA PHARMA (India)
- Strides Pharma Science Limited (India)
- Mylan N.V. (U.S.)
- Zydus Cadila (India)
- Cipla Inc. (U.S.)
- Sun Pharmaceutical Industries Ltd. (India)
- Sanofi (France)
- Hikma Pharmaceuticals PLC (U.K.)
- Amneal Pharmaceuticals LLC. (U.S.)
- Taj Pharmaceuticals Limited. (India)
- Lupin (India)
- Novartis AG (Switzerland)
- Pfizer Inc. (U.S.)
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Hydroxychloroquine Market Scope
Strength
- 200 mg
- 400 mg
- 800 mg
Grade
- USP Standards Grade
- EP Standards Grade
- Pharmaceutical Standards Grade
- Others
Drug Class
- Antimalarial
- Anti-rheumatic Hydroxychloroquine Drug
- Lupus Suppressant Hydroxychloroquine Drug
- Hydroxychloroquine Drug
- Anti-COVID 19 Hydroxychloroquine Drug
Dosage Forms
- Tablets
- Others
Route of Administration
- Oral
- Others
End-Users
- Hospitals
- Specialty Clinics
- Homecare
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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