COVID-19 Update - Hydroxychloroquine Market was Estimated to be US$ 41.3 Mn in 2018 and is Growing at a CAGR of 10.4% Over the Forecast Period, Owing to Increasing Demand for Medications to Treat Autoimmune Diseases, Says Absolute Markets Insights

- Some of the players operating in the hydroxychloroquine market are Amneal Pharmaceuticals LLC., Dr. Reddy's Laboratories, Inc, Ipca Laboratories Ltd.

PUNE, India, April 20, 2020 /PRNewswire/ -- Global hydroxychloroquine market was estimated to be US$ 41.3 Mn in 2018 and is expected to reach US$ 100.4 Mn by 2027 growing at a CAGR of 10.4% over the forecast period. Rise in outbreak of global pandemic coronavirus or COVID-19 alerted governments and health authorities across various countries to develop preventive and curative medicines for this infectious disease. COVID-19 affect the immune system of lungs of infected persons. People with weak immune systems and having previous autoimmune disorders have a high probability of contacting the virus compared to other individuals. Presently government organizations, private organizations and healthcare service providers across the world is in research & development for a vaccine for COVID-19. Before a vaccine is commercially available, there is a growing for development of medicines that can suppress the effects of COVID-19 in human body. Presently, a notable drug used in suppressing the effects (not clinically proven) of COVID-19 in human body is hydroxychloroquine (also known by the brand name 'Plaquenil'). Generally hydroxychloroquine sulfate primarily used for autoimmune diseases including rheumatoid arthritis, lupus, malaria and other diseases. Hydroxychloroquine sulfate is a major drug used for curing malaria. The drug is currently available as a generic drug in the form of tablets majorly in the 200 mg formulation.

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Rise in number of people infected with COVID-19 and deaths due to COVID-19 is highest in the U.S. which has led the government of the U.S. presently by April 2020 the U.S., has imported a significant amount of hydroxychloroquine tablets and active pharmaceutical ingredients (API) for manufacturing hydroxychloroquine from India. Also, in March 2020 U.S. based global pharmaceutical company Mylan N.V. increased production of hydroxychloroquine sulfate tablets to meet increasing needs in the U.S. However, it is still not clinically proven that hydroxychloroquine is a vaccine for COVID-19 infection. Clinical trials have been undertaken in New York for understanding the effects of hydroxychloroquine on patients with COVID-19. All these factors increasing the size of global hydroxychloroquine market.

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The detailed research study provides qualitative and quantitative analysis of hydroxychloroquine market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

• In terms of the application for hydroxychloroquine, coronavirus (COVID-19) is expected to be the major contributor of revenue to the market over the near future. The growth in cases across various countries is expected to drive the demand for the drug.
• The distribution of hydroxychloroquine is observed to made more through the offline medium. The primary reasons for the same are the easier availability of the drug and the growing network of pharmacies and medical centers across the world.
• As far as geography is concerned, North America accounted for the maximum share in the global hydroxychloroquine market in 2018. This can be attributed to the higher instances of autoimmune diseases amongst the population and growing manufacturer presence in the region.
• Some of the players operating in the hydroxychloroquine market are Amneal Pharmaceuticals LLC., Dr. Reddy's Laboratories, Inc, Ipca Laboratories Ltd., Laurus Labs Limited, Mylan N.V., NorthStar Rx LLC, Novartis AG, Prasco Laboratories, Sanofi, Teva Pharmaceutical Industries Ltd., and Zydus Cadila amongst others.

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Hydroxychloroquine Market:

• By Application
• Rheumatoid Arthritis
• Lupus Erythematosus
• Malaria
• Coronavirus (COVID-19)
• Others
• By Product Type
• 200 mg
• 300 mg
• 400 mg
• Others
• By Distribution Channel
• Online
• Offline
• Retail Pharmacies
• Hospitals/Clinics
• Others
• By Geography
• North America
• U.S
• Canada
• Mexico
• Rest of North America
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia Pacific
• Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America 

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