Global Hydroxychloroquine market is valued at USD XX million in 2019 and expected to reach USD XX million by 2025 with the CAGR of XX% over the forecast period.
Increasing prevalence of chronic disease globally is driving the global Hydroxychloroquine market
Hydroxychloroquine (HCQ) is a medicinal drug used mainly for the prevention and treatment of types of malaria such as chloroquine sensitive malaria. It is also taken by mouth. It has severe side effects and cannot be sold without any valid prescription from doctor. Even if it has side effects, it is essential in treating rheumatic disease during pregnancy. It belongs to the antimalarial and 4-aminoquinoline families of medication. Even if it is mainly known for malaria, it is also used in treatment of systemic lupus erythematosus, rheumatic disorders like rheumatoid arthritis, porphyria cutanea tarda, and Q fever. Its alternative name is Hydroxychloroquine sulfate and it is sold in the brand name of Plaquenil, Hydroquin, Axemal (in India), Dolquine, Quensyl and Quinoric.
Global Hydroxychloroquine Market report is segmented on the basis of type, application, and by regional & country level. Based on type, global Hydroxychloroquine market is classified as USP Standards Grade, EP Standards Grade, Pharmaceutical Standards Grade and others. Based upon end user, global Hydroxychloroquine is classified into uncomplicated malaria, rheumatoid arthritis, chronic discoid lupus erythematosus, systemic lupus erythematosus and others.
The regions covered in this Hydroxychloroquine market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of clinical decision support system is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for Global Hydroxychloroquine market are,
Global Hydroxychloroquine Market Dynamics –
Increasing prevalence of chronic diseases worldwide is driving the use of drugs market which also affects positively on Hydroxychloroquine market as it is used in treatment of number of diseases such as uncomplicated malaria, rheumatoid arthritis, chronic discoid lupus erythematosus, and systemic lupus erythematosus as it is commonly prescribed for these diseases which makes this market steady as number of cases on diseases such as malaria is high every year. For instance, according to WHO (World Health Organization) in 2018, an estimated 228 million cases of malaria happened worldwide compared with 251 million cases in 2010 and 231 million cases in 2017. From this it is also estimated that, there is a constant need of Hydroxychloroquine in treating this disease making the market less vulnerable to outside changes. Recent positive research on treatment of novel coronavirus using Hydroxychloroquine came up with positive signs, which is helping in growing demand of this drug from last one month. For example, Teva expects to contribute more than 6 million doses through wholesalers to U.S. hospitals to fulfill urgent demand of coronavirus. The medicines will be shipped by March 31, and more than 10 million can be available within a month. However, the drug has some serious side effects such as headache, drowsiness, visual disturbances, cardiovascular collapse, convulsions, hypokalemia, rhythm and conduction disorders including QT prolongation, ventricular tachycardia, and ventricular fibrillation which restrains the market.
Global Hydroxychloroquine Market Regional Analysis –
North America is accounted for largest market share and dominates the market due to presence of large number of major market players in this region, merger and acquisition performed by these players for expanding in to other regions and growing number of chronic diseases. For example, shares of Mylan MYL, went up to 6% in trading after the drug maker restarted production of hydroxychloroquine-sulfate tablets, which are being thought-of as a possible treatment for people with COVID-19. Mylan's hydroxychloroquine-sulfate tablets have FDA approval for malaria, lupus erythematosus and rheumatoid arthritis. The company told it will have a supply by mid-April, which could treat about 1.5 million patients. This sudden demand of this drug will propel to market to grow rapidly in near future in this region. Asia Pacific is the second largest market for hydroxychloroquine, as south and south east Asia have high cases of malaria than western regions and many pharma companies are actively involved in manufacture of generic hydroxychloroquine drug especially in China and India. The ongoing global pandemic of Corona virus which was originated from wuhan region of China is providing more opportunity for this market as several researchers have peached for this drug’s ability to curve the virus. For example, after the news of hydroxychloroquine being used with some success in treating Covid-19, indian pharma companies such as Cadillac Healthcare, Ipca Labs and Torrent Pharma that manufacture the drug increased up to 17 per cent in Mumbai trading recently which will help in growth of this market.
Key Benefits for Global Hydroxychloroquine Market Reports–
Global Hydroxychloroquine Market report covers in depth historical and forecast analysis.
Global Hydroxychloroquine Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Hydroxychloroquine Market report helps to identify opportunities in market place.
Global Hydroxychloroquine Market report covers extensive analysis of emerging trends and competitive landscape.
by Type: USP Standards Grade, EP Standards Grade, Pharmaceutical Standards Grade, others
by Application: uncomplicated malaria, rheumatoid arthritis, chronic discoid lupus erythematosus, systemic lupus erythematosus,others
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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