Hydroxychloroquine - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Hydroxychloroquine Market is accounted for $41.30 million in 2018 and is expected to reach $100.62 million by 2027 growing at a CAGR of 10.4% during the forecast period. The rising geriatric population, and the high demand for the drug from third world nations for dealing with malarial are the major factors propelling the market growth. However, factors such as product recalls and discontinuation of drugs are hampering the market growth.
Hydroxychloroquine is a medication and analogue of chloroquine. It has antirheumatic as well as antimalarial properties. It has been used widely for the treatment of infectious as well as rheumatoid arthritis. It has been recognized that clinical use of hydroxychloroquine has significantly improve the treatment rate of patient suffering from the COVID-19. The growth of hydroxychloroquine enhanced by the growing cases of infectious diseases that majorly includes coronavirus and malaria and increase research and development activities. In addition, advances in the treatment options and presence of well-established healthcare facilities are some of the impacting factors for the demand of hydroxychloroquine drugs.
Based on the application, the COVID-19 segment is going to have a lucrative growth during the forecast period as this is a new condition and a large number of trials are conducted on the effectiveness of the medicine in treating the condition, it would contribute to the growth rate witnessed by this segment. The fact that a large number of patients with COVID-19 are admitted to hospitals for treatment results in high preference and dependence on this medicine, contributing to the market share held by this segment.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period attributed to India being the leading producer of the drug and China being the largest exporter of the raw materials for the drug production. Apart from this, it is cost-effective drug in India costing nearly lesser than rupees three per tablet. Moreover, the drug has been advocated in countries like India as a measure to prevent the coronavirus in people who have been in contact with COVID positive persons and those falling in high risk zone. All these aforementioned aspects are likely to favorably leverage the growth of the Hydroxychloroquine market over the forecast period.
Some of the key players profiled in the Hydroxychloroquine Market include Hikma Pharmaceuticals PLC, Cadila Healthcare Ltd, Ipca Laboratories Ltd, Novartis AG , Mylan N.V, Sanofi S.A, Taj Pharmaceuticals Ltd , Shanghai Pharmaceuticals Holding Co., Ltd, Torrent Pharmaceuticals Ltd, Teva Pharmaceutical Industries Ltd , Dr. Reddy’s Laboratories Ltd, Sun Pharmaceutical Industries Ltd, and Zydus Cadila.
Route of Administrations Covered:
• United States Pharmacopeial Convention (USP) Standards Grade
• Pharmaceutical Standards Grade
• European Pharmacopoeia (EP) Standards Grade
• 100 mg
• 200 mg
• 250 mg
• 400 mg
• 500 mg
• 800 mg
Distribution Channels Covered:
• Hospital Pharmacy
• Online Pharmacy
• Speciality Drug Stores
• Retail Pharmacy
• Rheumatoid arthritis
• Lupus Erythematosus
• Skin Lesions
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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