Hydroxychloroquine Market Size Worth $ 3,784 Million by 2027 at 28% CAGR – Report by Market Research Future (MRFR)

Hydroxychloroquine Market Insights and Industry Analysis by Strength (200mg, 400mg), by Application (Malaria, COVID-19, Rheumatoid Arthritis), by Region (Americas, Europe, Asia-Pacific, Middle East & Africa), Competitive Market Size, Share, Trends, and Forecast till 2027


New York, US, June 22, 2021 (GLOBE NEWSWIRE) -- Hydroxychloroquine Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Hydroxychloroquine Market - Information by Strength, Application, and Region - Forecast till 2027” the market is projected to reach USD 3,784.43 Million by 2027 at a CAGR of 28%.

Market Scope and Drivers:

The potential of the drug to combat multiple diseases such as systemic lupus erythematosus, malaria, cutanea tarda, and rheumatoid arthritis is expected to propel the market further in the coming years. It has become very common for treating novel coronavirus disease due to its antiviral properties. It's also used to treat rheumatoid arthritis, lupus erythematosus, and the newly diagnosed COVID-19 parasite, in addition to malaria. Due to the American government's assertion that hydroxychloroquine will work against the novel coronavirus, demand for hydroxychloroquine medications to be used as a potential therapeutic modality has skyrocketed in response to the ongoing COVID-19 pandemic. Since it has less side effects, hydroxychloroquine is superior to chloroquine.

The rising need for rescue medicine, high demand for hydroxychloroquine drugs due to the global epidemic of COVID-19, and the prevalence of chronic diseases are all factors contributing to the global hydroxychloroquine drug market's development.

Anti-immune conditions such as malaria and rheumatoid arthritis, which can lead to diseases, are also projected to accelerate demand growth during the forecast era.

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Competitive Landscape

Some of the key players in hydroxychloroquine market are:

  • Zydus Cadila (India)
  • Ipca laboratories (India)
  • Sanofi S.A. (France)
  • Hikma Pharmaceuticals (UK)
  • Novartis International AG (Switzerland)
  • Teva Pharmaceutical, Industries Ltd (Israel)
  • Apotex Corporation (Canada)
  • Mylan N.V. (US)
  • Concordia Healthcare (UK)
  • Amneal Pharmaceuticals, Inc. (US)
  • Taj Pharmaceuticals (India)
  • Sun Pharmaceutical Industries Ltd. (India)
  • Shanghai Pharmaceuticals Holding (China)
  • Hanlim Pharmaceutical (South Korea)
  • Kyung Poong (South Korea)
  • Laurus Labs Limited (India)
  • Covis Pharmaceuticals, Inc. (Switzerland)
  • Lupin Pharmaceutical (India)

Ipca is the world's largest producer of hydroxychloroquine medications. The global hydroxychloroquine market is dominated by companies like Sanofi S.A., Hikma Pharmaceuticals, and Concordia Healthcare. To reinforce their business positions, the leading players engage in awareness promotions, product approvals, mergers, and strategic alliances.

Market Restraints:

Hydroxychloroquine's side effects and global scarcity are expected to limit the global hydroxychloroquine drug market's growth.

Government policy and health issues are limiting the market's expansion. As a result, hydroxychloroquine's adverse side effects, such as fever, dizziness, and lack of appetite, are a major factor limiting its market growth over the projected timeframe.

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Segmental Analysis

The hydroxychloroquine market has been segmented by strength and application

Based on the strength, the hydroxychloroquine market has been segmented into 200mg, 400mg, and others. Among them, 200 mg is widely used to treat arthritis, malaria, and, more recently, COVID-19. Malaria, Lupus Erythematosus, and Rheumatoid Arthritis are all usually treated with 400 mg once a week for adults. Furthermore, the rising use of hydroxychloroquine for COVID-19 treatment is propelling the market forward.

Based on the application, the segment is classified into Coronavirus disease (COVID 19), Malaria, Rheumatoid Arthritis, Lupus Erythematosus, Porphyria cutanea tarda (PCT), Q fever, and others. In 2019, the malaria segment led the global hydroxychloroquine industry, accounting for the majority of sales. The drug hydroxychloroquine is used to cure malaria, a disease spread by mosquito bites. It is a relatively cheap medicine that is commonly available over the counter in countries like India.

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Regional Overview

The market has divided into regions like the Americas, Europe, Asia-Pacific, the Middle East, & Africa.

In the coming years, North America is expected to be one of the major markets for hydroxychloroquine. Political controls, the existence of large-scale testing facilities, and drug safety consciousness are all expected to boost the demand in North America. The COVID-19 epidemic has boosted demand in North America.

The Asia-Pacific region's supremacy can be traced to the emergence of major market players such as India and China in the region, as well as an increase in demand for the drug due to high malaria incidence rates in Southeast Asian countries. India is one of the world's leading hydroxychloroquine manufacturers. The promise of this drug in treating COVID-19 prompted India to place a ban on its sale, causing political friction between the United States and India. About 80 countries around the world are currently reliant on Indian pharmaceuticals. Apart from that, countries such as the United States and Europe have placed a market for Indian medicines. Furthermore, India has the capacity to manufacture vast amounts of both medicines and API. China is also the largest producer of raw materials for the use of Hydroxychloroquine. Furthermore, the drug's cost-effectiveness, combined with its low toxicity, has resulted in high demand in countries such as India. During the forecast period, India and China are expected to be the largest revenue contributors in the country.

Industry Updates

Amneal revealed in April 2020 that their new drug application (ANDA) has been authorised by the US Food and Drug Administration, allowing them to launch Butrans and sucralfate, which is suggested for the treatment of extreme pain.

Rising Pharma Holdings Inc. and Laurus Labs announced their collaboration in March 2020, with the aim of conducting a clinical trial of hydroxychloroquine as a coronavirus disease prevention drug.

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