About Hydroxychloroquine
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
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
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. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Hydroxychloroquine market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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 that are part of study coverage. Additionally, the Players which are also part of the research coverage 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 Overview
AMA Research has segmented the market of Global Hydroxychloroquine market by Type (Hydroxychloroquine 200 mg, Hydroxychloroquine 300 mg and Hydroxychloroquine 400 mg), Application (Lupus Erythematosus, Rheumatoid Arthritis, COVID-19 and Others) 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). If we see Market by End-users, the sub-segment i.e. Hospitals will boost the Hydroxychloroquine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Hospital Pharmacy will boost the Hydroxychloroquine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
Market Leaders and their expansionary 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
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.