Hydroxychloroquine Market Overview
The Hydroxychloroquine Market is expected to account for USD 3,784.43 Million by 2027 and projected to register a CAGR of 28% during the forecast period, 2020–2027.
The hydroxychloroquine was first approved in 1955 by the World Health Organization. It is used in the treatment of malaria. Apart from malaria, it is also used for the treatment of rheumatoid arthritis, lupus erythematosus, and recently discovered COVID-19. Hydroxychloroquine is more preferable than chloroquine as it has fewer side effects. IPCA is the biggest manufacturing firm for the anti-malarial drug. Hydroxychloroquine is widely being used for the treatment of COVID-19 pandemic in around 205 countries, including territories such as Chandigarh, Delhi, and Andaman and Nicobar. On 12th May 2020, 4,29,8871 cases are reported of COVID-19 all over the world, and in 2018, 228 million cases of malaria were reported, which can drive the hydroxychloroquine market.
Hydroxychloroquine Market influencer
Outbreak of COVID-19 increasing the demand for hydroxychloroquine.
Hydroxychloroquine Market drivers
- Rising incidents of anti-immune disease such as malaria and rheumatoid arthritis
- According to the WHO report in 2018, 228 million cases of malaria disease were recorded as compared with 251 million in 2017.
- In 2018, Africa was the most affected area with malaria, with 213 million cases, i.e., 93%, followed by the Southeast Asia region with 3.4% and the eastern Mediterranean region with 2.1%.
- The most affected country with rheumatoid arthritis is the US. Out of every 100,000 people, 41 are diagnosed with rheumatoid arthritis every year. In 2019, about 1.3 million Americans had rheumatoid arthritis.
- The outbreak of COVID 19 increased the demand for hydroxychloroquine drugs.
- As of 12th May 2020, 4,286,755 million cases of COVID 19 were recorded worldwide.
- As of 12th May 2020, the US is the most affected country with 1,387,407 million, followed by Spain (2,69,520 million), and Russia (2,32,243 million).
- Currently, the US has the most significant demand for this drug.
- India is the world's largest manufacturer of hydroxychloroquine and the biggest exporter at the time of COVID-19.
- Side effects of Hydroxychloroquine.
Hydroxychloroquine Market Segmentation
Based on the strength, the hydroxychloroquine market classified into 200mg and 400 mg. The rising cases of COVID-19 increased the demand for hydroxychloroquine.
- 200mg: The doctors mostly prescribe 200mg as it is used for malaria, rheumatoid arthritis, lupus erythematosus, and COVID-19. 200 mg per day dosage is prescribed for the treatment of lupus erythematosus and rheumatoid.
- 400mg: 400mg high-power drug is used in very extreme cases. Currently, 400mg is being used for the treatment of COVID-19 patients. Demand for 400mg is predicted to increase in the coming years.
Hydroxychloroquine Market By Application
The application segment of hydroxychloroquine market is classified into coronavirus disease (COVID-19), Malaria, Rheumatoid Arthritis, Lupus Erythematosus, Porphyria cutanea tarda (PCT), Q fever, and others. It is a fairly inexpensive drug and generally sold as over the counter drug in the countries such as India.
- Malaria: The malaria segment dominated the global hydroxychloroquine market and held the largest market share in 2019. The hydroxychloroquine is used for the treatment of malaria, which is caused by the mosquito bite.
- 400 mg: Dosage issued for the treatment of malaria once a week for adults and children dosage is based on the child’s weight.
- Rheumatoid arthritis: It is a chronic progressive disease that causes pain in joints. It worsens by age.
- Lupus erythematosus: This is an autoimmune disease caused when the immune system attacks its tissues.
- 200 mg: 200 mg per day for the treatment oflupus erythematosus and rheumatoid arthritisis given as a single daily dose or in two divided dosesfor adults. Dosage for younger than 18 years has not been established.
- COVD-19: According to WHO, “COVID-19 is transmitted between people through respiratory droplets and contact roots droplet. Transmission occurs when a person is in close contact (within 1 meter) with someone who has respiratory symptoms (e.g., coughing or sneezing) and is, therefore, at risk of having his/her mucosae (mouth/nose) or conjunctiva (eyes) exposed to potentially infective respiratory droplets”. Each COVID-19 patient reportedly needs 14 tablets course, so 10 crore pills can potentially treat over 71 lakh people.
- 400 mg course is being given to COVID-19 patients.
Hydroxychloroquine Market By Region
- Americas: The US does not produce anti-malarial drugs as there is no prevalence of malaria. The outbreak of COVID-19 has increased the demand for hydroxychloroquine in the Americas. Hence, the US government asked the Indian government for the supply of hydroxychloroquine. India exported 35.82 lakh tablets of hydroxychloroquine to the US, along with nine metric tons of active pharmaceutical ingredient or API required in the manufacturing of the drug. North America is predicted to be one of the largest hydroxychloroquine market for the manufacturing of hydroxychloroquine in the coming years.
- Europe: Europe has started trials on patients through hydroxychloroquine drugs for COVID-19. Around 2,26,436 people are infected with COVID-19 in the UK and 1,77,423 in France. The UK is the third-largest country with most cases of COVID-19. The European government is starting medicine trials COVID-19 patients. The trials will include 3,200 patients in the Netherlands, Belgium, Luxembourg, the UK, France, and Spain. There will be 800 patients in France, where clinical trials were launched this past weekend.
- Asia-Pacific: India is the world’s largest manufacturer of anti-malarial drugs and produces 60% in the hydroxychloroquine market. India exported hydroxychloroquine API of worth USD 1.22 million to other 55 countries. The Indian Pharmaceutical Combine Association Limited (IPCA) is the most prominent manufacturing firm of anti-malarial drugs.
- Middle East & Africa: India exported worth 5.5 million pills to treat patients of COVID-19 on April 18’ 2020. Turkey stockpiled 1 million hydroxychloroquine tablets before the first case appeared in the country. Teva Pharmaceuticals situated in Israel is manufacturing not only finished goods but also providing API to other countries.
Hydroxychloroquine Market Key Players
- 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)
- Wallace Pharmaceuticals (India)
- Intas Pharmaceuticals (India)
- McW Healthcare (India)
- Macleods Pharmaceuticals (India)
- Cipla (India)
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2027: USD 3,784.43 Million
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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).
Key Market Opportunities
The outbreak of COVID 19
Key Market Drivers
Rising incidents of anti-immune disease such as malaria and rheumatoid arthritis. New product launches and R&D Amongst major key Players
Frequently Asked Questions (FAQ) :
The hydroxychloroquine was first approved in 1955 by the World Health Organization. It is used in the treatment of malaria. Apart from malaria, it is also used for the treatment of rheumatoid arthritis
The expected market value by 2027 can be USD 3,784.43 Million.
The recent COVID-19 outbreak has boosted the market demand across the world.
Hydroxychloroquine’s side effects can deter consumers from purchasing it in the coming period.
The applications considered in the market study are Porphyria cutanea tarda (PCT), coronavirus disease (COVID-19), Q fever, Rheumatoid Arthritis, Malaria, Lupus Erythematosus, and more.
The market advancement rate between 2020 and 2027 can be 28%.