Hydroxychloroquine Market - By Type of Disease (Lupus Erythematosus, Q Fever, Coronavirus Disease (COVID-19), Rheumatoid Arthritis, Malaria, Porphyria Cutanea Tarda (PCT)), By Distribution Channel (Specialty Drug Store, Hospital Pharmacy, Retail Pharmacy, Online Pharmacies), By Application (Tablets and Injectables) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Hydroxychloroquine Market held USD 2 billion in 2020 and is to grow with a CAGR of 7.5% from 2020-2030. Hydroxychloroquine (HCQ) or Hydroxychloroquine sulfate, are widely sold under certain brands such as Quinoric, Axemal, Dolquine, Plaquenil, Hydroquin, Quensyl, and Quineprox. Hydroxychloroquine drugs were initially utilized for treatment of patients suffering from malaria. Hydroxychloroquine is being used owing to the pain and swelling reduction properties which is being used to cure rheumatoid arthritis. This drug also reduces joint damage and decrease probability of long-term disability. As per Clinical Research Data, 150 million people suffered from rheumatoid arthritis globally in 2017. Researchers are therefore indulged in testing the product usage for the treatment of coronavirus spread as it has shown positive results in case of some patients in China. Leading organizations such as U.S. FDA and EU has initially prescribed for use for treatment of patients suffering from arthritis as well as autoimmune diseases including lupus. However, rising cases of COVID-19 globally, has led to increased emphasis on the research and development of several others drugs related with its treatment. Recent studies and ongoing research and development shows increased signs of recovery phase of patients suffering from the coronavirus.

Market Dynamics and Factors:

Major driving factors for the market are increased government spending on the healthcare and medical sector, growing drugs production in Asian regions. Changing lifestyles of the population due to sudden spurt in cases of coronavirus in U.S., Brazil, India and China will create demand hydroxychloroquine market. India is leading producer and exporter of hydroxychloroquine drugs. Growing focus and trials to use hydroxychloroquine as game changing drug for treatment of Covid-19 will certainly drive the global hydroxychloroquine market. However, varying the prices of drug raw materials being supplied from China may restrain the growth of the market. Expanding use of HCQ in combination with others antibiotics such as azithromycin as potential cure of coronavirus disease will further act as an opportunity during the forecast period.

Market Segmentation:

Based on the type of disease, the hydroxychloroquine market industry is segmented into Lupus Erythematosus, Q Fever, Coronavirus Disease (COVID-19), Rheumatoid Arthritis, Malaria, Porphyria Cutanea Tarda (PCT) and other diseases. On the basis of distribution channel, the hydroxychloroquine market trends varies into Specialty Drug Store, Hospital Pharmacy, Retail Pharmacy and Online Pharmacies. On the basis of application, the market is segmented into the tablets and injectables. Geographical breakdown and analysis of each of the aforementioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

North America dominates the hydroxychloroquine market share with the large demand owing to growing use of HCQ IN U.S. The region is also a hub of advanced healthcare infrastructure and the growing expenditure of government on rapid development of make shift hospitals, development of novel disease controlling drugs is further fueling global hydroxychloroquine market growth. Asia Pacific hydroxychloroquine demand is also growing at a fast pace and expected to dominate in the future. Due to the growing demand for HCQ drugs, increasing drug production in India, is anticipated to drive hydroxychloroquine market size in coming years.

Competitive Scenario:

Global hydroxychloroquine market, is witnessing demand with certain players garnering major market share. In terms of market share, few of the major players currently dominate the market. Key companies are also expanding their manufacturing facilities to cater to growing demand for this drug globally. Key players enhancing the global hydroxychloroquine market size include Zydus Cadila, Bayer, Laurus Labs, Sun Pharma, Sanofi, Ipca Laboratories Ltd, Novartis AG, Teva Pharmaceutical Industries Ltd and McW Healthcare.

Hydroxychloroquine Market Report Scope