According to Our latest research report on “Hydroxychloroquine Market” highlights the substantial global expansion occurring within this sector. The report encompasses projections for the years leading up to 2031, accompanied by a comprehensive analysis of the market’s current size, prevailing trends, market share, and economic insights.
The global hydroxychloroquine market size was valued at $1.9 billion in 2019, and is anticipated to generate $4.6 billion by 2027. The market is projected to experience growth at a CAGR of 7.9% from 2020 to 2027. Hydroxychloroquine, and anti-malarial drug, when combined with chloroquine has the potential to be the major game-changer in the medical history. In certain small and vitro, uncontrolled or poorly controlled clinical studies, it demonstrated antiviral activity against (SARS-CoV-2) severe acute respiratory syndrome-coronavirus-2. Such researches are considered as hypothesis. However, followed by the tweet of President Trump, it completely changed the scenario of the market, with reports of shortages of the medicine in pharmacies within 24 hours. Amidst the outbreak, certain nations such as the U.S. and India are endorsing its use as preventive measures for COVID-19.
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In order to be able to fulfill rising demand, the chemical industry invests billions of dollars each year in new and sustaining capital. Chemicals and materials are omnipresent in contemporary life, therefore major changes will be required for chemical makers to function in a changing geopolitical environment on a global scale, either proactively or reactively. Chemical firms will probably need to prepare for difficulties in the upcoming year, such as global inflation and oil price instability.
The growth of the global hydroxychloroquine market is drive by surge in demand for the medication, which led to hike in production of the drug by the Indian Government. IPCA Laboratories, which have approximately 70% of the market share in this sector in India, has increased its production tenfold. However, the nationwide lockdown acted as a hindrance for growth of the global market. In addition, disruption in logistic chains and less availability of raw materials, which are mostly scoured from China have restrained the market growth. With the initiation of normal operation in China after the lockdown and backward integration of some industry players have helped the market to cope up to a certain extent.
In April 2019, IPCA Laboratories signed a contract to acquire Maharashtra-based Ramdev Chemical Pvt. Ltd. According to the contract, IPCA Laboratories is supposed to buy the company, which is associated with the marketing and manufacturing of advanced drug intermediates, active pharmaceutical ingredients (APIs), custom synthesis molecules, and fine chemicals. Thus, this initiative by IPCA Laboratories will help the company in increasing the production capacity of the drug and contribute in meeting the present demand.
On March 25 2020, the Indian Government imposed a ban on export of the drug to ensure that the nation had adequate stock of the medication to meet domestic needs. However, later the government decided to lift the ban partially. The SAARC nations along with other 30 nations and the U.S. and West Asia proposed India to lift the ban on export. Considering the high demand for the medication, pharmaceutical companies in the nation have planned to increase the production by 5 to 6 times to over 70 metric tons by May 2020. Apart from IPCA Laboratories Ltd., Zydus Cadila and Wallace Pharmaceuticals are some of the other leading manufacturers of hydroxychloroquine.
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The global hydroxychloroquine market is segmented into product type, distribution channel, disease, and region. On the basis of product type, the market is bifurcated into tablet and active pharmaceutical ingredients. Depending on distribution channel, the market is fragmented into hospital pharmacy, online pharmacy, specialty drug store, and retail pharmacy. The diseases covered in the study include malaria, rheumatoid arthritis, lupus erythematosus, coronavirus, and others. Region wise, the hydroxychloroquine market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).
KEY BENEFITS FOR STAKEHOLDERS
– The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the hydroxychloroquine market from 2019 to 2027 to determine the prevailing opportunities.
– Comprehensive analysis of factors that drive and restrict hydroxychloroquine market growth is provided.
– The hydroxychloroquine market forecast and estimations are based on factors impacting the market growth, in terms of value.
– Profiles of leading players operating in the hydroxychloroquine market are provided to understand the global competitive scenario.
– The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market share.
Key Players
o Cadila Healthcare Ltd
o Hikma Pharmaceuticals PLC
o Ipca Laboratories Ltd
o Mylan N.V
o Novartis AG
o Pfizer Inc.
o Sanofi S.A.
o Taj Pharmaceuticals Ltd.
o Teva Pharmaceutical Industries Ltd.
o Torrent Pharmaceuticals Ltd
o Zydus Cadila
KEY MARKET SEGMENTS
By Product type
– Tablet
– Active Pharmaceutical Ingredients
By Distribution Channel
– Hospital Pharmacy
– Online Pharmacy
– Specialty Drug Store
– Retail Pharmacy
By Disease
– Malaria
– Rheumatoid Arthritis
– Lupus Erythematosus
– Coronavirus
– Others
By Region
? North America
o U.S.
o Canada
o Mexico
? Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
? Asia-Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia-Pacific
? LAMEA
o Brazil
o South Africa
o Saudi Arabia
o Rest of LAMEA
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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Key Questions the Report Discusses
- What essential elements emerged from both primary and secondary research?
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- What obstacles and problems face the growth of an industry?
- What does supply chain analysis for products and market size, share mean?
- Which of the possible manufacturers is still operating in the market?
- What are the advantages, benefits, and applications of the product’s features?
- What are the main trends and influencing factors?
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