What is Hydroxychloroquine Market Scope?
Hydroxychloroquine is a derivative of chloroquine that has both antimalarial and anti-inflammatory activities. It is used to prevent or treat malaria caused by mosquito bites. It is treated malaria by killing the parasites that cause the disease. It is also used to treat certain auto-immune diseases such as lupus and rheumatoid arthritis. India manufactures 70% of the world's supply of hydroxychloroquine, according to Indian Pharmaceutical Alliance (IPA). United States Food and Drug Administration has identified Hydroxychloroquine as a possible treatment for COVID-19. The studies showed that it shortens the time to clinical recovery of COVID-19 patients. The study conducting in France enrolling 80 patients showed that Hydroxychloroquine alone or in combination with Azithromycin appeared to reduce virus levels quicker. India is a dominant manufacturer of hydroxychloroquine because it is an inexpensive drug used to treat malaria, rheumatoid arthritis and lupus. The country has a production capacity of 40 tonnes of hydroxychloroquine (HCQ) every month, implying 200 million tablets of 200 mg each. However, due to increased demand, India has increased the production of Hydroxychloroquine (HCQ) to 300 million tablets from 122.3 million tablets.
Influencing Trend:
Increased Research and Development Activities and Development of New Diagnostic Centres and Hospitals
Market Growth Drivers:
High Demand for COVID-19 Treatment from Highly Affected Regions such as the United States, Italy and Others, Demand for Prevention and Treatment of Malaria and Robust Increase in the Distribution Channels
Challenges:
Meet the Rising Demand from Various Countries and Stringent Government Rules and Regulations in Some Regions
Restraints:
Shortage of Hydroxychloroquine Worldwide and Fluctuations in the Raw Material Prices
Opportunities:
Growing Number of COVID-19 Infected People Worldwide, Growing Healthcare Industry and Rising Applications of Hydroxychloroquine to Treat Various Diseases
The Hydroxychloroquine market study is being classified by Type (Hydroxychloroquine 200 mg, Hydroxychloroquine 300 mg and Hydroxychloroquine 400 mg), by Application and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Players from Global will contribute to the maximum growth of Global Hydroxychloroquine market throughout the predicted period.
Zydus Cadila (India), Sanofi S.A. (France), Hikma Pharmaceuticals (United Kingdom), Ipca Laboratories (India), Novartis International AG (Switzerland), Actavis (United States), Apotex Corporation (Canada), Mylan N.V. (United States), ADVANZ PHARMA Corp. (United Kingdom) and Cardinal Health, Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Sun Pharmaceutical Industries Limited (India), Cinkate Corporation (China), Bristol Laboratories (United Kingdom), Taj Pharmaceuticals (India), Intas Pharmaceuticals (India), McW Healthcare (India), MacleodsPharmaceuticals (India), Cipla (India), Lupin (India), Wallace (India) and Torrent Pharmaceuticals (India.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Hydroxychloroquine market by Type, Application and Region.
On the basis of geography, the market of Hydroxychloroquine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
Recently, Indian pharmaceutical companies are raising monthly production of anti-malarial drug Hydroxychloroquine (HCQ) four times to 40 metric tonnes (MT) by the end of this month and five to six times to over 70 metric tonnes (MT) by next month. The plan to step up production came after the Government of India indicated it will help countries in dire need of the drug to fight novel coronavirus.
In March 2020, Mylan has restarted production of hydroxychloroquine sulfate tablets at its West Virginia manufacturing facility in the United States to meet the potential for increased demand resulting from potential effectiveness of the product in treating COVID-19.
Key Target Audience
Hydroxychloroquine Manufacturers, Raw Material Suppliers, Distributors, Research Professionals, Emerging Countries and End-users
Hydroxychloroquine Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Hydroxychloroquine Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Hydroxychloroquine industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.