SEATTLE, April 07, 2020 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global hydroxychloroquine market is estimated to be valued at US$ 484.9 million in 2019 and is expected to exhibit a CAGR of 45.7% over the forecast period (2019-2027).
Key Trends and Analysis of the Global Hydroxychloroquine Market:
Key trends in the market include viral disease outbreaks, increasing prevalence of autoimmune diseases such as rheumatoid arthritis, and increasing approvals and launches of new products by key market players.
According to the Arthritis Research UK, 2017, around 44,000 people were suffering from rheumatoid arthritis in Scotland in 2017. Similarly, in March 2017, the Centers for Disease Control and Prevention estimated that around 54.4 million U.S. adults suffer from arthritis and the cases are expected to reach around 78 million by 2040.
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Furthermore, the Australian Bureau of Statistics (ABS) 2017–18 National Health Survey (NHS) reported that around 458,000 Australians were suffering from rheumatoid arthritis in 2017-18 and represented 13% of all arthritis conditions in Australia.
Moreover, increased demand of hydroxychloroquine due to coronavirus outbreak is expected to propel growth of the hydroxychloroquine market. For instance, on March 19, 2020, Mylan N.V. ramped up the manufacturing of hydroxychloroquine sulfate tablets to meet the increased demand for treating the patients with coronavirus disease (COVID 19).
Key Market Takeaways:
- The global hydroxychloroquine market is expected to exhibit a CAGR of 45.7% over the forecast period, owing to disease outbreaks such as coronavirus and increasing prevalence of malaria and rheumatoid arthritis. According to the World Health Organization, the number of people infected with coronavirus reached around 105,792 on April 1, 2020, in Italy.
- North America is expected to hold largest share in the global market, owing to presence of key players in the region such as Novartis International AG, Cardinal Health, and Sanofi S.A, and increasing incidence of coronavirus disease. According to the World Health Organization, around 163,199 cases of the coronavirus disease (COVID 19) were reported on April 1, 2020, in the U.S.
Key players operating in the global hydroxychloroquine market include—
Sanofi S.A., Amneal Pharmaceuticals, Inc., Laurus Labs Limited, Zydus Pharmaceuticals, Inc., Prasco Laboratories, Dr. Reddy's Laboratories, Cadila Pharmaceuticals, Novartis International AG, Concordia Pharmaceuticals Inc., Covis Pharmaceuticals, Inc., Cardinal Health, Aphena Pharma Solutions Tennessee, Inc., Mylan N.V., McKesson Corporation, Teva Pharmaceutical Industries Ltd, Lupin Pharmaceutical, and Sun Pharmaceutical Industries Ltd.
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Market Segmentation:
- Global Hydroxchloroquine Market, By Disease Indication:
- Malaria
- Coronavirus disease (COVID 19)
- Lupus Erythematosus
- Rheumatoid Arthritis
- Global Hydroxchloroquine Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Hydroxchloroquine Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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