Global Hydroxychloroquine Market Report Insights
The global hydroxychloroquine market shall expand at a CAGR of ~4% during the forecast period (2020-2030). Hydroxychloroquine is a derivative of chloroquine and was primarily used to suppress and treat acute attacks of malaria. Eventually, hydroxychloroquine emerged as an ideal medicine for treating rheumatoid arthritis and systemic lupus erythematosus.
Rheumatoid arthritis is a highly prevalent disease requiring high-cost treatment in countries like the United States, France, and Germany. Due to its fewer side effects, it has become the most preferred drug over chloroquine. The current COVID-19 pandemic has given an upswing to demand for hydroxychloroquine drugs to be used as a viable treatment modality.
Hydroxycloroquine Production in India to Surge
COVID-19 has infected over three million people and resulted in over two hundred thousand deaths. Owing to the American government’s claim that hydroxychloroquine can act against the novel coronavirus, its demand has skyrocketed. Currently accounting for over one-third of the global confirmed cases, the United States is the worst affected country in the world.
To counter the deadly wave of infections, the United States government has sought assistance from the Indian government to help it procure 20 million pills of hydroxychloroquine by the end of June. Hydroxychloroquine market share of India is slated to be substantial in near term.
Similarly, other countries like Nepal, Sri Lanka and Bhutan have created significant demand for this drug. Attributed to above-mentioned facts the global hydroxychloroquine market is estimated to experience year on year growth of over 100% in 2020.
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Hydroxychloroquine Market Regional Insights
Due to the increasing prevalence of rheumatoid arthritis and a growing number of systemic lupus erythematosus patients in the region, North America is projected to maintain its dominance in the global HCQ market throughout the forecast period. In 2019, the United States accounted for over 30% of the global systemic lupus erythematosus, thereby increasing the consumption of hydroxychloroquine during the historical period.
With the United States being a leading consumer of hydroxychloroquine, North America accounted for nearly one-third of the global hydroxychloroquine market in 2019. This demand is poised to skyrocket by the end of 2020.
Hydroxychloroquine Market Leaders Leverage Production Capacities
The global hydroxychloroquine market is highly consolidated in nature, in which the top five players accounted for over half of the global sales in 2019. Alone, Sino-Western Pharmaceutical, currently accounts for over three fourth of the Chinese market share. Dr. Reddy's Laboratories, Zydus Cadila, IPCA Labs and Mylan are the other key stakeholders in the global hydroxychloroquine market.
In response to skyrocketed demand for hydroxychloroquine, market goliaths have ramped up their production capacities. For instance, Zydus Cadila has increased its production by ten times and has claimed that it can further increase if the situation demands. Laurus Labs has increased its production capacity by 5 tons per month.
Similarly, Ipca Laboratories Ltd. has increased its production by 20 tons per month. Further, numerous companies like Bayer, Laurus Labs, Sun Pharma, etc. have pledged to donate millions of hydroxychloroquine tablets in their respective regions. However, due to skyrocketed demand hydroxychloroquine market price has doubled in recent weeks.
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“Burgeoning demand for hydroxychloroquine due to coronavirus outbreak is set to witness two-fold growth by the end of 2020”, says the Fact.MR analyst.
About the Report
Fact.MR published an exclusive forecast report for hydroxychloroquine market between 2020 and 2030. The foremost objective of this report on hydroxychloroquine market is to pitch spearhead insights on market scenario, demand generators and technological advancements in the hydroxychloroquine market. Also, the study on hydroxychloroquine market addresses key dynamics, which are expected to diversify the sales and future prominence of hydroxychloroquine market.
The report on hydroxychloroquine market begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of hydroxychloroquine market elaborating on the key segments. Also, the report outlines visionary insights on dynamics hydroxychloroquine market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for hydroxychloroquine.
Supply chain analysis and pricing analysis of hydroxychloroquine market along with the difference between hydroxychloroquine used as per applications have also been included in the report to help the readers clearly understand the product framework map in hydroxychloroquine market.
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Hydroxychloroquine Market: Segmentation
Fact.MR has segmented the hydroxychloroquine market on the basis of drug type, and region.
- Anti-malarial Drug
- Anti-rheumatic Drug
- Lupus Suppressant Drug
- Anti COVID 19 Drug
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Hydroxychloroquine Market - Scope of the Report
The hydroxychloroquine market study done by Fact.MR gives exclusive information about how the market will grow during the forecast period of 2020 – 2030. The study identifies crucial trends that are determining growth of the hydroxychloroquine market.
This newly published report sheds light on vital dynamics, such as drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply of hydroxychloroquine. The report primarily conveys a summary of the market, considering the present and upcoming global rheumatoid arthritis and lupus erythematosus treatment market developments to reveal striking sides relating to the adoption of hydroxychloroquine across prominent regional markets.
A detailed assessment of the market supply chain analysis, business execution, and value chain analysis across the regional markets have been provided in the report. A list of prominent companies operating in the hydroxychloroquine market, enhance the reliability of this comprehensive research study.
Hydroxychloroquine Market: Report Summary
The study offers an inclusive analysis on diverse features including demand, revenue generation, and sales by key players in the hydroxychloroquine market across the globe. A comprehensive study on the market has been done through optimistic and conservative scenarios. The analysis and estimation of price point comparison by region with the global average price has been included in this study.
Hydroxychloroquine Market: Analysis on Market Size Evaluation
Existing predictions of the hydroxychloroquine market, encompassing current as well as forthcoming values estimates, analysis on region-wise demand trends, and price index have been assimilated in the report.
The market estimation at the regional and global scale of hydroxychloroquine is available in terms of value (US$ Mn) and in terms volume (Tons). A Y-o-Y growth contrast of the prominent hydroxychloroquine market segments, along with market attractiveness valuation computes have been incorporated in the report. Metrics mentioned above are also based on hydroxychloroquine types, where hydroxychloroquine witnesses a steady demand.
Hydroxychloroquine Market: Scrutinized Assessment on Regional Segments
The weighted sections have been elaborated in the report of the hydroxychloroquine market, which deliver projection on regional markets. These chapters highlight regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the hydroxychloroquine market during the forecast period.
Country-specific valuation on the demand for hydroxychloroquine has been offered for each regional market, along with market scope estimates and forecast, price index, price point assessment, and impact analysis of dynamics in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Hydroxychloroquine Market: In-depth Analysis on Competitive Landscape
The report offers the competitive scenario of the hydroxychloroquine market, along with profiles of prominent companies contributing to market expansion. Essential and up-to-date data as well as information correlated to market performers, who are principally engaged in the production and supply of hydroxychloroquine, have been presented with the help of a detailed dashboard view. The market share analysis and comparison of prominent players provided in the report permits readers to take preemptive steps in advancing their businesses.
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