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Read here the market research report on u201cHydroxychloroquine Marketu201d published by CMI team.
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Hydroxychloroquine Market Analysis (2020-2027) • Hydroxychloroquine is a safer derivative of chloroquine. Hydroxychloroquine is an immunosuppressive and anti-parasite drug indicated for the treatment or prevention of malaria, although the drug is ineffective for chloroquine-resistant malaria. Hydroxychloroquine is also recommended for autoimmune diseases such as systemic and discoid lupus erythematosus, and rheumatoid arthritis (acute and severe), when other medications fail to work or cannot be used. • Recently, hydroxychloroquine has attracted attention due to its effectiveness in treating the patients with coronavirus disease (COVID 19). Reports from China demonstrated chloroquine can possibly inhibit SARS-CoV-2 in vitro.
s • Major players such as operating in hydroxychloroquine market include, Amneal, Dr. Reddy's Laboratories, Laurus Labs, Mylan, Prasco Labs, Sandoz, Teva, and ZydusCadila. According to Globes, in March 2020, manufacturers of generic version of hydroxychloroquine dominated the hydroxychloroquine market in 2019 in the U.S. The major market share holders in the hydroxychloroquine market were Prasco (30.5%), followed by Sandoz (28.2%), ZydosCadila (14%), and Teva Pharmaceutical Industries Ltd. (9.2%). • The global hydroxychloroquine market size is estimated to be valued at US$ 484.9 million in 2019 and is expected to exhibit a CAGR of 45.7% over the forecast period (2020-2027).
Figure 1. Global Hydroxychloroquine Market Value (US$ Mn), by Region, 2019 Source: Coherent Market Insights Analysis (2020)
Increasing incidence of disease outbreaks is expected to propel the market growth over the forecast period • The increasing incidence of disease outbreaks such as coronavirus is escalating demand for advanced diagnostic measures, which is expected to boost growth of the hydroxychloroquine market. • For instance, the coronavirus disease (COVID 19) is the most recent outbreak, which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared coronavirus disease (COVID 19) as a pandemic on March 11, 2020. According to the World Health Organization (WHO), around 823,626 cases of the coronavirus disease (COVID 19) were reported on April 1, 2020, globally.
Figure 2. Global Hydroxychloroquine Market Share (%), by Disease Indication
Increasing demand of hydroxychloroquine is expected to drive the market growth over the forecast period • The increasing demand for hydroxychloroquine due to sudden outbreak of coronavirus disease (COVID 19) is expected to boost the market growth over the forecast period. For instance, on March 30, 2020, Novartis International AG announced that its generics and biosimilars division, Sandoz, started the shipping of 30 million doses of hydroxychloroquine tablets to the US Department of Health and Human Services (HHS) for controlled clinical studies. The purpose of the study is to evaluate the effectiveness of hydroxychloroquine in people who have tested positive for coronavirus disease (COVID 19). • On the same day, Sandoz donated 20,000 doses of hydroxychloroquine to the University of Washington for a COVID-19 PEP clinical trial.
Global Anti-malarial Drugs Market- Regional Analysis • On the basis of region, the global anti-malarial drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. • Among regions, Africa is expected to hold a dominant position in the market, owing to increasing risk of malaria in the region. For instance, according to the WHO, around 92% of malaria cases in the world occurs in the Sub- Saharan African region. WHO also estimated that, in 2017, among the five countries, which were accounted for nearly half of all malaria cases worldwide, 4 countries were from Africa region including Nigeria (25%), Democratic Republic of Congo (11%), Mozambique (5%), and Uganda (4%). • Moreover, Asia Pacific anti-malarial drugs market is expected to exhibit significant growth over the forecast period, owing to increasing regulatory approval of the products, and presence of major pharmaceutical companies such as Ipca Laboratories, ZydusCadila, Ranbaxy, and others in the emerging economies in Asia Pacific region including India, China, and others.
Key Players • Major players operating in the global hydroxychloroquine market include Sanofi S.A., Amneal Pharmaceuticals, Inc., Laurus Labs Limited, Zydus Pharmaceuticals, Inc., Prasco Laboratories, Dr. Reddy's Laboratories, Cadila Pharmaceuticals, Novartis International AG, Concordia Pharmaceuticals Inc., Covis Pharmaceuticals, Inc., Cardinal Health, AphenaPharma Solutions Tennessee, Inc., Mylan N.V., McKesson Corporation, Teva Pharmaceutical Industries Ltd, Lupin Pharmaceutical, and Sun Pharmaceutical Industries Ltd.
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