Hydroxychloroquine Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Hydroxychloroquine Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Hydroxychloroquine Market

The hydroxychloroquine market size was valued at USD 894.0 million in 2019, and the market is now projected to grow USD 2799.0 million in 2032 exhibiting a CAGR of 4.7% during the forecast period of 2020-2032.

The hydroxychlorolture market was affected by COVID-19 because of increased use as treatment for the virus despite having unproven efficacy. Then, shortages in supply and the rising prices became apparent, putting a pressure on the international markets. It was later that research began to cast doubts on its effectiveness and safety for COVID-19 and thus the market demand normalizes. It underlined how exactly the treatment of a pandemic is a complex process that requires the evidence of the experimented solutions.

As of April 2020, WHO confirmed itself 2 million active COVID-19 cases and 126,758 deaths; the virus was defined as pandemic by the same organization in March 2020. Due to lack of direct treatment and vaccine, which was projected to be available for more than 18 months, health caring authority endorsed other agents for controlling of the disease. This effort also had a potential candidate in hydroxychloroquine as a measure of disease control.

Hydroxychloroquine manufacturers around the world increased production during the COVID-19 pandemic based on favorable findings in France and the U.S. in which it was trailed in a small number of patients. This led to high volume importation of the virus by countries such as the U.S. as a measure of control. As a result, the depict growth in demand made manufactures in the industry to scale up their outputs uniquely this explained the high levels of capacity utilization.

Comprehensive Analysis of Hydroxychloroquine Market

The hydroxychloroquine market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by disease indication analysis and by distribution channel analysis. By disease indication analysis include malaria, COVID-19, rheumatoid arthritis, and others. By distribution channel analysis include hospital pharmacy, retail pharmacy, and online pharmacy.

The Asia Pacific region lead the hydroxychloroquine market share by benefitting a market size of USD 3346.9 million in 2018 due to Increasing use of the drug in treating malaria.

The top players in the markets have a central responsibility in the healthcare industry to be sure of industrial prospectus development and to establish the market norms. These players include, Sanofi, Zydus Cadila, Ipca Laboratories Ltd, Sandoz International GmbH (part of Novartis AG), Mylan N.V., Teva Pharmaceutical Industries Ltd, Bayer AG these market players provide a level-playing competitive landscape.

In June 2021, Catalent, Inc. announced the acquisition of RheinCell Therapeutics GmbH to enhance its stem cell therapy process development and manufacturing capabilities.

Segmentation Table

ATTRIBUTE DETAILS

Study Period2016-2027

Base Year2019

Forecast Period2020-2027

Historical Period2016-2018

UnitValue (USD million)

SegmentationBy Disease Indications

Malaria

COVID-19

Rheumatoid Arthritis

Others

By Distribution Channel

Hospital Pharmacy

Retail Pharmacy

Online Stores

By Geography

North America (the U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East& Africa (South Africa, GCC and Rest of Middle East & Africa)


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