Hydroxychloroquine Market

Market Snapshot

Global sales of hydroxychloroquine are expected to reach US$ 3.6 Bn in 2021. Fact.MR still the hydroxychloroquine market to grow at a compounded annual growth rate of approximately 4% across the 2021-2031 forecast period. Demand is expected to emerge the strongest in the anti-malarial segment, clocking a CAGR of 5% across the forecast period.

Key Points Addressed in Hydroxychloroquine Industry Analysis

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Hydroxychloroquine and How to Navigate
• Recommendation on Key Winning Strategies

Hydroxychloroquine Consumption Analysis 2016-2020 vs. Outlook 2021-2031

According to Fact.MR, a market research and competitive intelligence provider, from 2016 to 2020, the global market for hydroxychloroquine exhibited a CAGR of around 3%. Applications to treat diseases such as rheumatoid arthritis, discoid arthritis, systemic lupus erythematosus (SLE), Juvenile idiopathic arthritis (JIA), and more.

The market received significant traction during the COVID-19 pandemic, with numerous clinical trials undertaken by pharmaceutical companies to develop a potential antiviral oral medicine. Key players such as Novartis, Sanofi, and Zydus Cadila invested copious funds to sanction various clinical trials to verify hydroxychloroquine’s effectiveness.

However, a few months into the studies revealed no significant impact of the drug on patients, prompting a cessation of all research funding. However, the quest for eradicating diseases such as malaria and lupus are keeping growth prospects elevated. Based on aforementioned trends, global demand for hydroxychloroquine is poised to reach US$ 5.3 Bn by the end of the 2021-2031 forecast period.

Increasing Burden of Malaria Providing Traction to Hydroxychloroquine Consumption?

In 2019, there were an estimated 229 million cases of malaria worldwide, according to the World Health Organization. As per the report, the estimated number of malaria deaths stood at 409,000, with children aged below 5 years being the most vulnerable. Total funding for malaria control and elimination reached US$ 3 billion in the same year.

A significant portion of this funding was directed towards providing anti-malarial medicines and funding more research on developing powerful drugs. These factors have played an instrumental role in augmenting demand for hydroxychloroquine drugs.

To achieve global eradication, the W.H.O has initiated the Global Malaria Programme (GMP), which is responsible for coordinating global efforts to control and eliminate this disease. Hence, production of hydroxychloroquine will surge manifold in the upcoming decade.

How did the Quest for Finding a Cure for COVID-19 Heighten HCQ Prospects?

In response to the emergence of novel viruses, the medical industry decided to employ HCQ drugs to treat them. Even though researchers were unsure of COVID-19's results, they decided to treat it with HCQs or azithromycin.

Researchers used an interrupted time series (ITS) design, analyzing sales of antibiotics used with azithromycin alone or hydroxychloroquine (HCQ) in India's private healthcare sector. For instance, a clinical trial was conducted by Utah Health in Salt Lake City to test the effectiveness of azithromycin and hydroxychloroquine. 300 patients were included in the first trial that suspected COVID-19. Several patients were treated with azithromycin or hydroxychloroquine to determine whether they changed the severity of COVID-19. Researchers tested both drugs and determined which one reduced hospitalization rates among outpatients.

30 patients hospitalized with COVID-19 confirmed in February 2020 were included in a study at Shanghai Public Health Clinical Center in China. Patients in the experimental group received 400 mg of hydroxychloroquine daily in addition to standard care for five days, whereas control group patients received only standard care. No substitute was used. Although mortality rates were statistically similar, the researchers found that viral loads had decreased.

Country-wise Analysis

What is the market situation for hydroxychloroquine in U.S market?

Amid rising prevalence of rheumatoid arthritis and systemic lupus erythematosus patients, the U.S is experiencing an upward sloping curve for hydroxychloroquine drugs in recent years. The country accounted for 30% of systemic lupus erythematosus in 2019, thus impelling consumption of HCQ.

Since the outbreak of COVID-19, numerous clinical trials attempted to advocate hydroxychloroquine’s effectiveness in alleviating the adverse effects of the pandemic. However, the trials were suspended from June 2020, with the Food & Drug Administration revoking emergency use authorization to use HCQ in certain hospitalized patients.

In spite of this, hydroxychloroquine usage is expected to remain elevated, especially for treating malaria, the incidence of which has spiked in the U.S. The Center for Disease Control & Prevention estimates that about 2,000 cases are detected annually in the U.S. Fact.MR expects the country to account for over 1/3rd of the global revenue through 2031.

Why is India an Emergent Market for Hydroxychloroquine?

India is touted to emerge as one of the most opportunistic markets for hydroxychloroquine in the future. The Indian Pharmaceutical Alliance (IPA) projects that the country accounts for 70% of the global hydroxychloroquine supply, with a production capacity of 40 tons per month.

As the COVID-19 pandemic unfurled, the country experienced a 100% year-over-year increase in production, driven by a short-term spurt in demand, particularly from the U.S, based on preliminary investigations about the possible positive impact of the drug on infected patients.

However, the primary growth driver is expected to be the increased prevalence of malaria. Severe Malaria Observatory states that close to 1.3 billion people are at elevated risk of contracting malaria, accounting for 2% of the global burden of the disease. Fact.MR expects the market to account for 60% of global HCQ demand in until 2031.

Category-wise Insights

How has Hydroxychloroquine been used as a Lupus Suppressant?

Hydroxychloroquine infused drug formulations are extensively deployed to treat lupus, helping alleviate pain and inflammation, preventing lupus flares and assisting in lupus skin problems, and lowering dosage of other lupus medicines.

Most people with lupus are required to consume hydroxychloroquine throughout their lives, as there are minimal documented side effects. In addition, the drug is effective in preventing blood clots and organ damage from lupus. Fact.MR expects the segment to expand at around 4.5% CAGR through 2031

Why are Hydroxychloroquine Drugs Preferred as Anti-Malarials?

While the precise anti-malarial action mechanism of hydroxychloroquine are not completely clear, it is known to block the detoxification process in the Plasmodium parasite. The drug attacks either the lysosome or nucleus of the protozoan, effectively eliminating it from the body.

The drug is typically ingested 1 to 2 weeks prior to traveling to an area where malaria is highly prevalent. According to Fact.MR, the anti-malarial segment is anticipated to register a growth rate of around 5% from 2021-2031.

Competitive Landscape

Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are eco-friendly by nature.

• On March 5th, 2021, Aspen Pharmaceutical Corporation received R $20 million from BNDES in connection with its hydroxychloroquine manufacturing. A total of R $ 153 million was invested in research activities and expanded production capacity by the company in 2020 as part of two loan agreements with BNDES. Two firms had already reached several agreements concerning the manufacture of drugs on the market.
• In July 2021, Sanofi and Asahi Kasei Pharma signed a license agreement to transfer sales rights for Plaquenil tablets 200 mg, an immunomodulator in Japan. The merger centered on treating cutaneous lupus erythematosus and systemic lupus erythematosus in Japan. Upon the execution of the agreement, the company will transfer the marketing rights to Plaquenil® to Asahi Kasei Pharma on October 1, 2021

Report Scope

Key Segments Covered

• Drug Type

  • Anti-malarial Hydroxychloroquine Drug
  • Anti-rheumatic Hydroxychloroquine Drug
  • Lupus Suppressant Hydroxychloroquine Drug
  • Anti COVID 19 Hydroxychloroquine Drug
  • Other Hydroxychloroquine Drugs

Hydroxychloroquine Market- Scope of Report

A recent study by Fact.MR on the hydroxychloroquine market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering hydroxychloroquine.

The study also provides the dynamics responsible for influencing the future status of the hydroxychloroquine market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the hydroxychloroquine market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of hydroxychloroquine across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account sales of hydroxychloroquine during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

• Which are the most lucrative hydroxychloroquine markets?
• Which factors will impact the growth of hydroxychloroquine?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the hydroxychloroquine industry?
• What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (Tons) and value (US$ Mn).

Estimates at global and regional levels for hydroxychloroquine are available in terms of “US$ Mn” for value and in “Tons” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global hydroxychloroquine market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of hydroxychloroquine during the forecast period.

Country-specific valuation on demand for hydroxychloroquine has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of hydroxychloroquine, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering hydroxychloroquine has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the hydroxychloroquine domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the hydroxychloroquine industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.