Healthcare

Global Hydroxychloroquine Market

April 7, 2020
ID: SR/HC-27
Format:Pdf
Pages:220

Global Hydroxychloroquine Market by Application (Covid-19, Malaria, Rheumatoid Arthritis, Lupus Erythematosus, Porphyria Cutanea Tarda and Others), By End-User (Hospital, Pharmacy Store, Clinics and Others), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Description

Global Hydroxychloroquine Market Overview

Hydroxychloroquine is a white, crystalline powder, freely soluble in water, practically insoluble in alcohol, chloroform, and in ether. The trade name of hydroxychloroquine is Plaquenil. This product also has anti-inflammatory, immune regulation, anti-infection, light-filtering, anti-coagulation, and other effects. Hydroxychloroquine is a second-generation semi-antimalarial drug. In 1944, scientists developed a new type of antimalarial drug hydroxychloroquine based on chloroquine. Hydroxychloroquine is a derivative of chloroquine. Its therapeutic effect is similar to that of chloroquine, but its side effects significantly reduced.

The difference between it and chloroquine is that hydroxyethyl replaces an ethyl group in chloroquine. It is precisely because of this difference that hydroxychloroquine is absorbed faster in the human gastrointestinal tract and more widely distributed in the body. Hydroxychloroquine is an analog of chloroquine that has fewer concerns about drug-drug interactions. In the previous SARS outbreak, hydroxychloroquine was reported to have anti-SARS-CoV activity in vitro.

Global Hydroxychloroquine Market Insights

Global Hydroxychloroquine Market projected to spur at a substantial rate during the forecast period, 2020-2027. The growing demand for hydroxychloroquine in recent COVID-19 outbreaks across the world is estimated to fuel the global hydroxychloroquine market in upcoming years. Moreover, the application of hydroxychloroquine in the prevention or treatment of malaria would raise the demand for hydroxychloroquine in the global market. Additionally, the surge in infectious diseases which are caused by pathogenic microorganisms, such as bacteria, viruses, parasites, or fungi, will accelerate the growth of global hydroxychloroquine market size. According to WHO, the lower respiratory infections remained the most deadly infectious disease, causing 3.0 million deaths worldwide in 2016, and the diarrhoeal diseases caused 1.4 million deaths and tuberculosis deaths toll of 1.3 million in 2016.

Furthermore, growing usages of hydroxychloroquine for treating several forms of malaria and lupus erythematosus and rheumatoid arthritis will trigger the global hydroxychloroquine industry in the next few years. According to WHO, in 2017, 435 000 deaths due to malaria occurred globally, of which almost 80% of all deaths in 2017 occurred in 17 countries. The growing prevalence of chronic diseases worldwide is boosting the use of drugs market, which also spur the hydroxychloroquine market as it is used in treating uncomplicated malaria, rheumatoid arthritis, chronic discoid lupus erythematosus, and systemic lupus erythematosus.

Growth Driver

The surge in demand for Hydroxychloroquine to epidemic COVID-19

The COVID-19 first broke out in Wuhan (China) and subsequently spread worldwide. During the 2002-03 outbreak of the SARS virus, airports in Singapore and China deployed hydroxychloroquine and have been using them since.

The Coronavirus disease (COVID-19) pandemic (caused by the virus SARS-CoV-2) has increased demand for medicines, vaccines, diagnostics, and reagents. According to WHO, to date, there are 1,174,855 confirmed cases, 64,471 confirmed death in 209 countries. Due to COVID-19, the FDA has approved the use of hydroxychloroquine and chloroquine. This approval allows the use of these medications in light of a public health emergency.

Application Segmental Analysis

Based on application, the global hydroxychloroquine market classified into COVID-19, Malaria, Rheumatoid Arthritis, Lupus Erythematosus, Porphyria Cutanea Tarda, and Others. The COVID-19 segment estimated to dominate the hydroxychloroquine market. It is due to the huge demand for hydroxychloroquine in a recent outbreak of COVID-19 infection. In the previous SARS outbreak, hydroxychloroquine was reported to have anti-SARS-CoV activity in vitro. It is used as an antiviral therapy against SARS-CoV-2 or COVID-19.

The Malaria segment accounted for a higher market share in 2019 and will witness to grow at a significant rate during the forecast period as it is used for the treatment of uncomplicated malaria caused by Plasmodium Vivax, Plasmodium malariae, Plasmodium ovale, and Plasmodium falciparum.

End-User Segmental Analysis

Based on end-user, the global hydroxychloroquine market categorized into Hospital, Pharmacy Store, Clinics, and Others. Hospital segment held for maximum revenue in 2019 and expected to gain maximum revenue by 2027 attributable to the growing demand for hydroxychloroquine in recent outbreak COVID-19 coupled with the increasing number of confirmed cases of COVID-19 infected patients across the world. Additionally, various countries have surged in their financial expenditure of the healthcare department to curb COVID-19.

Pharmacy Store segment will boom owing to the approval for the use of hydroxychloroquine by the FDA to treat the COVID-19 virus along with the rise in the number of pharmacy stores around the world.

Region Segmental Analysis

Based on geography, the global hydroxychloroquine market size segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027. It is owing to the presence of major players in these regions coupled with authorization for hydroxychloroquine and chloroquine by FDA in the use of medications in light of a public health emergency to curb outbreak COVID-19.

The Asia Pacific will be the fastest-growing segment during the forecast period due to the maximum number of dead persons infected from malaria in South Asia regions and growing use for hydroxychloroquine in fast-spreading COVID-19 in these regions.

Europe segment will grow attributable to the maximum number of death cases from COVID-19 in these regions along with the approval for the use of hydroxychloroquine in public use by the European Union.

Competitor Analysis

Companies such as Sanofi SA, Novartis International AG, Mylan N.V., Teva Pharmaceuticals. Ipca Laboratories, Cadila Healthcare Lt, Wallace Pharmaceuticals Ltd., and Macleods Pharmaceuticals are the key players in the Global Hydroxychloroquine Market.

Recent Developments:

In March 2020, Novartis has pledged a global donation of up to 130 million hydroxychloroquine tablets, and Mylan is ramping up production to make 50 million tablets. Teva has donated 16 million tablets to hospitals around the U.S.
In April 2020, Amneal pledged to make 20 million tablets by mid-April.
In April 2020, the Indian government has ordered to supply around 10 crore tablets with Ipca labs and Zydus Cadila.

Key Stakeholders

Market research and consulting firms
Industry associations
Global Hydroxychloroquine manufacturing firm
Research organizations and consulting companies
Organizations, associations, and alliances related to Hydroxychloroquine
Regulatory bodies
Suppliers
Retailers

Scope of the report

Report Attribute	Details
Market size value in 2020	USD 2.33 Billion
Revenue forecast in 2027	USD 5.3 Billion
Growth Rate	CAGR of 4.96% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Mylan N.V., Teva Pharmaceuticals, Sanofi S.A., Novartis International AG, Ipca Laboratories, Cadila Healthcare Lt, Wallace Pharmaceuticals Ltd., and Macleods Pharmaceuticals

Recent Developments

In September 2021, Alivamab Discovery Services announced a multi-target agreement with Teva Pharmaceuticals to accelerate the discovery of new therapeutics.
In August 2021, Zydus Pharmaceutical signed a license and supply agreement with CHEMI SpA to launch the Enoxaparin Sodium injection in the U.S.
In May 2021, CytoDyn signed the distribution agreement with Macleods Pharmaceuticals Ltd. to follow EUA and compassionate use access to Leronlimab in India.

The objective of the Research

Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Application

By End-User

Hospital
Pharmacy Store
Clinics
Others

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is the growth rate of the Global Hydroxychloroquine Market?

The growth rate of the Global Hydroxychloroquine Market is 4.96% from 2021 to 2027.

What is the size of the Global Hydroxychloroquine Market?

The size of the Global Hydroxychloroquine Market is USD 2.33 billion in 2020, which will reach USD 5.3 Billion by 2027.

What are the growth drivers of the Global Hydroxychloroquine Market?

Application in prevention or treatment of malaria, rising demand for Hydroxychloroquine due to COVID-19 are the growth drivers of the Global Hydroxychloroquine Market.

Who are the end-users of the Hydroxychloroquine Market products?

Hospitals, Pharmacy stores, Clinics and Others are the end-users of the Hydroxychloroquine Market products.

What is the competitive landscape of the Global Hydroxychloroquine Market?

The key players are Mylan N.V., Teva Pharmaceuticals, Sanofi S.A., Novartis International AG, Ipca Laboratories, Cadila Healthcare Lt, Wallace Pharmaceuticals Ltd., and Macleods Pharmaceuticals in the Global Hydroxychloroquine Market. Mylan N.V., Teva Pharmaceuticals, Sanofi S.A., Novartis International AG, Ipca Laboratories, Cadila Healthcare Lt, Wallace Pharmaceuticals Ltd., and Macleods Pharmaceuticals in the Global Hydroxychloroquine Market.

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