Hydroxychloroquine Market Analysis By Drug Type (Anti-malarial, Anti-rheumatic Hydroxychloroquine Drug, Lupus Suppressant Hydroxychloroquine Drug, Hydroxychloroquine Drug, Anti-COVID 19 Hydroxychloroquine Drug), By Region - Global Insights 2022-2032

Hydroxychloroquine Industry Outlook (2022-2032)

The global Hydroxychloroquine market is likely to be valued at US$ 3.75 Billion in FY 2022, up from US$ 3.6 Billion in 2021. During the past year, the industry registered a Y-o-Y increase worth 3%. From 2022 to 2032, Hydroxychloroquine sales are poised to flourish at a CAGR of 4% to reach a value of US$ 5.6 Billion by the end of 2032.

Fact.MR estimates that the global hydroxychloroquine industry is projected to grow at a CAGR of 4% from 2022 to 2032, Anti-malarial Hydroxychloroquine is poised to witness a 5% CAGR.  The APAC will dominate the global market, registering a growth opportunity worth US$ 4.2 Billion from 2022 to 2032.

2015 to 2021 Hydroxychloroquine Market Revenue Analysis vs. Market Outlook 2022-2032

According to Fact.MR, a market research and competitive intelligence provider, from 2015 to 2021, 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$ 5.6 Billion by the end of the 2021-2031 forecast period.

Key Drivers Stimulating Hydroxychloroquine Industry Expansion

Increasing Burden of Malaria Providing Traction to Hydroxychloroquine Consumption

In 2019, there were an estimated 229 Billion 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.

Quest for Finding a Cure for COVID-19 Heightened HCQ Prospects

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.

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.

Key Challenges to Hydroxychloroquine Industry Expansion

Over-dose of HCQ drugs May Cause Cardiac problems

According to European Medicines Agency’s report, Chloroquine and hydroxychloroquine are recognized to potentially cause heart rhythm complications, and these could be aggravated if treatment is combined with other medicines, such as the antibiotic azithromycin, that have similar effects on the heart.

Recent studies have testified serious issues, in some cases fatal, heart rhythm problems with chloroquine or hydroxychloroquine, particularly when consumed at high doses or in combination with the antibiotic azithromycin.

FDA has revoked the emergency usage of HCQ drugs or chloroquine for COVID-19 outside of the hospital setting or a clinical trial due to risk of heart rhythm problems. It was observed from the extensive clinical trials on hospitalized patients that these medicines showed no benefit for decreasing the likelihood of death or speeding recovery. This outcome was consistent in many patients, thereby acts a key challenge for the manufacturers.

Country-wise Analysis

How Opportunistic are Growth Prospects across the U.S Market?

Uncontrolled Outbreak of COVID-19 Bolstered the Demand for HCQ Medicines

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 2032. Based on the recent projections, the market valuation is likely to expand to US$ 1.5 Billion which was estimated nearly US$ 890 Million in 2021, following a CAGR of 5.5%.

Why is Hydroxychloroquine Providers Venturing into India?

Increasing Prevalence of Malaria to Augment Production of Hydroxychloroquine in India

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 2032. Also, the market valuation is likely to surpass US$ 4.2 Billion mark through 2032, following CAGR of 5.2%.

Country-wise Value CAGRs for Hydroxychloroquine (2022-2032)

Category-wise Insights

Which Product Type is Most Preferred in the Hydroxychloroquine Market?

Soaring Application as a Lupus Suppressant to Elevate Demand for Hydroxychloroquine

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 2032.

By Application, which Hydroxychloroquine is expected to Dominate?

Hydroxychloroquine Drugs are Gaining Preference as Anti-Malarials

While the precise anti-malarial action mechanism of hydroxychloroquine is 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 2022-2032.

Competitive Landscape

Prominent hydroxychloroquine providers are reliant on partnerships, collaborations, acquisitions, and new software launches so as to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.

• On March 5th, 2021, Aspen Pharmaceutical Corporation received R $20 Billion from BNDES in connection with its hydroxychloroquine manufacturing. A total of R $ 153 Billion 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

Key Segments Covered in the Hydroxychloroquine Industry Survey

• Hydroxychloroquine by Drug Type

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

• Hydroxychloroquine by Region

  • North America Hydroxychloroquine Market
  • Latin America Hydroxychloroquine Market
  • Europe Hydroxychloroquine Market
  • Asia Pacific Hydroxychloroquine Market
  • Middle East & Africa Hydroxychloroquine Market