Global Hydroxychloroquine Market, Trends Size, By Drug Activity (Anti-Malarial Drug, Anti-Rheumatic Drug, Lupus Suppressant Drug, Anti COVID-19 Drug, and Other Drug Activity), By Formulation (Tablets and Injection), By Application (Malaria, Rheumatoid Arthritis, Lupus Erythematosus, COVID-19, and Other Applications), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa): Global Opportunity Analysis and Industry Forecast, 2023-2030.
Global Hydroxychloroquine Market
The Global Hydroxychloroquine Market was valued at US$ 2.5 Bn in 2022, estimated to reach US$ 5.8 Bn by 2030, with a CAGR of 9.05% from 2023-2030.
Malaria is mostly treated and prevented using hydroxychloroquine (HCQ), a chemotherapy drug. It is frequently given orally as a tablet and is effective against erythrocytic malarial parasite strains. It is also used to treat conditions like systemic lupus erythematosus, rheumatoid arthritis, Q fever, and porphyria cutanea tarda (PCT), and clinical trials are being done to see if it may treat the rapidly developing COVID-19 disease. It suppresses immunological responses and causes the body to produce antigens and cytokines, making it immunosuppressive, anti-autophagic, and antimalarial.
Market Drivers
An increase in rheumatoid arthritis and malaria prevalence, as well as an increase in the number of elderly people, is anticipated to drive market growth. The global Hydroxychloroquine Market is anticipated to grow shortly due to an increase in new releases and approvals.
Furthermore, more product launches and product approvals are one of the factors propelling the market growth. Positive market effects are envisaged from rising generic medicine penetration and increased demand for novel hydroxychloroquine. For instance, Novartis International AG began supplying the U.S. Department of Health and Human Services (HHS) with 30 million doses of hydroxychloroquine tablets in March 2020 for controlled clinical trials to assess the effectiveness of hydroxychloroquine in patients with coronavirus infection.
Market Restraints
When coupled with medications that have comparable effects on the heart, such as the antibiotic azithromycin, chloroquine, and hydroxychloroquine have been reported to cause heart rhythm issues. If these issues are treated, they may become worse. The European Drugs Agency conducted research that supports this. When taken in large quantities, azithromycin has been linked to significant, and occasionally fatal, heart rhythm issues when paired with chloroquine or hydroxychloroquine. The market's rate of expansion will be slowed by this.
Market Segmentation
The scope of the Global Hydroxychloroquine Market covers segmentation based on Drug Activity, Formulation, Application, and Region.
Based on Drug Activity, the market is divided into Anti-Malarial Drugs, Anti-Rheumatic Drugs, Lupus Suppressant Drugs, Anti COVID-19 Drugs, and Other Drug Activity.
Based on Formulation, the market is classified into Tablets and Injections.
Based on Application, the market is bifurcated into Malaria, Rheumatoid Arthritis, Lupus Erythematosus, COVID-19, and Other Applications.
Regional Analysis
The Global Hydroxychloroquine Market is segmented into 5 main regions, namely North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America growing at a significant pace during the forecast period due to the increased patient awareness of disease-remitted therapy, an increase in the prevalence of RA and COVID-19, and high public and private healthcare spending. Furthermore, the World Health Organisation predicts that 54.4 million adults in the nation may have rheumatoid arthritis by the end of 2040. Additionally, it is anticipated that simple access to high-quality healthcare, kind reimbursement systems, a robust trial pipeline, and the approval of innovative pharmaceuticals will support revenue growth in North America.
The market in Asia-Pacific is anticipated to grow at the quickest rate over the forecast period. The number of patients in some impoverished countries is growing as a result of a lack of disease knowledge in those areas
Key Players
Cadila Healthcare Limited, Hikma Pharmaceuticals PLC, IPCA Laboratories Ltd, Mylan N.V, Novartis International AG, Pfizer Inc, Sanofi S.A, Taj Pharma Group, Teva Pharmaceutical Industries Ltd, Torrent Pharmaceuticals Limited
Market Taxonomy
By Drug Activity
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