NEW YORK, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market Research completed a qualitative study titled "Hydroxychloroquine Market" with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. The most up-to-date technology was used in conjunction with expert industry knowledge and practical, effective, and innovative solutions to develop this Hydroxychloroquine report. Market penetration-increasing tactics such as new product releases, geographical expansion, agreements, joint ventures, partnerships, and acquisitions are discussed. This study of the Hydroxychloroquine market focuses on numerous submarkets that are anticipated to grow rapidly in terms of revenue throughout the study's approximate forecast time frame. The report's research, analysis, and insights give you a clear picture of the market from which to make informed business decisions.
Data Bridge Market Research analyses that the hydroxychloroquine market, which was USD 1,270.86 million in 2022, is expected to reach USD 3,246.88 million by 2030, at a CAGR of 12.44% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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A chemotherapeutic medication called hydroxychloroquine (HCQ) is primarily used to treat and prevent malaria. It works against erythrocytic malarial parasite types and is often administered orally as a tablet. Additionally, it is used to treat diseases such as systemic lupus erythematosus, rheumatoid arthritis, Q fever, and porphyria cutanea tarda (PCT), and it is undergoing clinical trials as a treatment for the quickly spreading COVID-19 disease. It is immunosuppressive, anti-autophagy, and antimalarial because it inhibits immune functions and manifests antigens and cytokines in the body.
According to the WHO, there were over 228 million malaria cases reported worldwide in 2018, and there were 405,000 malaria-related deaths. The most vulnerable age group to malaria is children under the age of five; in 2018, they made up 67% (or 272,000) of all malaria-related deaths that were reported globally. The use of hydroxychloroquine to prevent and treat acute malaria attacks is a result of the increased prevalence of malaria. The malarial parasites Plasmodium ovale (P. ovale), Plasmodium malariae, Plasmodium vivax, and vulnerable forms of P. falciparum have all been successfully combatted by hydroxychloroquine.
Opportunities
- The rising penetration of generic drugs will act as an opportunity
Increased demand for new hydroxychloroquine and expanding generic drug penetration are anticipated to impact the market positively. For instance, in March 2020, Novartis International AG started delivering 30 million doses of hydroxychloroquine tablets to the U.S. Department of Health and Human Services (HHS) for supervised clinical trials to evaluate the effectiveness of hydroxychloroquine in patients with coronavirus illness (COVID 19). The enhanced government support is also anticipated to impact the market penetration of growing product approval substantially.
Some of the major players operating in the Hydroxychloroquine market are
- Actiza Pharmaceutical Private Limited (India)
- AdvaCare Pharma (U.S.)
- Ipca Laboratories Ltd. (India)
- Bliss GVS Pharma Ltd. (India)
- GeoVax (U.S.)
- Sumaya Biotech (Germany)
- VLP Therapeutics (U.S.)
- OSIVAX (France)
- AJANTA PHARMA (India)
- Strides Pharma Science Limited (India)
- Mylan N.V. (U.S.)
- Zydus Cadila (India)
- Cipla Inc. (U.S.)
- Sun Pharmaceutical Industries Ltd. (India)
- Sanofi (France)
- Hikma Pharmaceuticals PLC (U.K.)
- Amneal Pharmaceuticals LLC. (U.S.)
- Taj Pharmaceuticals Limited. (India)
- Lupin (India)
- Novartis AG (Switzerland)
- Pfizer Inc. (U.S.)
Recent Developments
- In February 2022, Accord Healthcare Inc. introduced the additional strengths of hydroxychloroquine sulfate tablets in the United States. The generic version of Plaquenil, hydroxychloroquine, is typically used to treat malaria, lupus, and rheumatoid arthritis. The creation and commercialization of these distinctive capabilities demonstrate Accord's dedication to addressing patients' unmet requirements for accurate dosage of significant medications in the United States. The newly released item completes Accord's earlier 200mg Hydroxychloroquine tablet release.
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Key Industry Drivers
- A rise in the prevalence of malaria in low-income countries will bolster the market growth
The increase in malaria prevalence in low-income countries is expected to boost the market's growth rate. A potentially fatal infectious disease called malaria is conveyed by female Anopheles mosquitoes and is brought on by the Plasmodium parasite. Climate change is facilitating the malaria epidemic's expansion and enhancing mosquito-borne diseases' viability. In 2019, there were around 229 million malaria cases and 409,000 fatalities worldwide, according to the WHO. Tropical regions, including Africa, Asia, Central America, and South America, have been most affected by malaria. Additionally, Africa, Southeast Asia, the Eastern Mediterranean, and the Western Pacific are the regions where malaria is most prevalent.
- Rising cases of COVID will drive the market growth
On April 8th, 2020, there were 73,639 confirmed cases and 6,695 fatalities. The government is looking for efficient solutions for the patients' treatment as a result of the COVID-19 outbreaks. The countries are searching for choices that are easily accessible for the treatment of COVID-19 because no medications have been approved for the disease. The majority of countries, including the US, Brazil, Spain, Bahrain, Germany, Nepal, Bhutan, and Bangladesh, have moved their focus to hydroxychloroquine due to its proven antiviral action, which may help to activate the immune system. This in turn is influencing the increased use of hydroxychloroquine medications.
What benefits does DBMR study is going to provide?
- Latest industry influencing trends and development scenario
- Open up New Markets
- To Seize powerful market opportunities
- A key decision in planning and to further expand market share
- Identify Key Business Segments, Market proposition & Gap Analysis
- Assisting in allocating marketing investments
The investment made in the study would provide you access to information such as:
- Hydroxychloroquine Industry [Global – Broken-down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country-wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size
- Market Size by application/industry verticals
- Market Projections/Forecast
Restraints/Challenges
- Side effects associated with hydroxychloroquine
Chloroquine and hydroxychloroquine are known to cause heart rhythm problems, and they might get worse if treatment is combined with drugs that have similar effects on the heart, such as the antibiotic azithromycin. This is according to a study by the European Drugs Agency. Azithromycin, combined with chloroquine or hydroxychloroquine, has been related to serious, and in some cases fatal, heart rhythm problems, especially when used at high doses. This will slow the market's rate of expansion.
This hydroxychloroquine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hydroxychloroquine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Industry Segmentation:-
Strength
- 200 mg
- 400 mg
- 800 mg
Grade
- USP Standards Grade
- EP Standards Grade
- Pharmaceutical Standards Grade
Drug Class
- Antimalarial
- Anti-rheumatic Hydroxychloroquine Drug
- Lupus Suppressant Hydroxychloroquine Drug
- Hydroxychloroquine Drug
- Anti-COVID 19 Hydroxychloroquine Drug
Dosage Forms
- Tablets
- Others
Route of Administration
- Oral
- Others
End-Users
- Hospitals
- Specialty Clinics
- Homecare
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Hydroxychloroquine Market Regional Analysis/Insights
The hydroxychloroquine market is analyzed and market size insights and trends are provided by country, Strength, grade, drug class, dosage forms, route of administration, end-users and distribution channel as referenced above.
The countries covered in the Hydroxychloroquine Industry Report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominated the hydroxychloroquine market due to the region's important product manufacturing and developed healthcare infrastructure. High spending on R&D as well as the availability of qualified workers, will further accelerate the market's growth rate in this area.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of expanded government awareness campaigns and rising healthcare costs in this area. Additionally, the increasing availability of generic medications will slow the market's expansion in this area.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Hydroxychloroquine Market: Regulations
- Market Overview
- Global Hydroxychloroquine Market, By Strength
- Global Hydroxychloroquine Market, By Grade
- Global Hydroxychloroquine Market, By Drug Class
- Global Hydroxychloroquine Market, By Dosage Forms
- Global Hydroxychloroquine Market, By Route of Administration
- Global Hydroxychloroquine Market, By End User
- Global Hydroxychloroquine Market, By Distribution Channel
- Global Hydroxychloroquine Market, By Region
- Global Hydroxychloroquine Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
To Get a Detailed Table of Contents (TOC), Click Here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-hydroxychloroquine-market
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