The global hydroxychloroquine drugs market value expected to reach US$ 1.8 billion by 2030 from US$ 0.72 Bn in 2020, expanding at a CAGR of 10.3% from 2021 to 2030.
Hydroxychloroquine belongs to a class of drugs called antimalarials. It is used to treat rheumatoid arthritis and systemic lupus erythematosus by decreasing the activity of the immune system. In terms of disease indication, the global hydroxychloroquine drugs market has been classified into malaria, rheumatoid arthritis, COVID-19, systemic lupus erythematosus, and others. Based on distribution channel, the global hydroxychloroquine drugs market has been categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The rise in prevalence of malaria and rheumatoid arthritis and increase in geriatric population augment the global hydroxychloroquine drugs market.
High Prevalence of Malaria, Rheumatoid Arthritis, and Other Targeted Diseases to Drive Global Market
Hydroxychloroquine is FDA-approved to treat or prevent malaria. Hydroxychloroquine is also approved to treat autoimmune conditions such as chronic discoid lupus erythematosus, systemic lupus erythematosus in adults, and rheumatoid arthritis. According to the CDC, nearly half the world's population lives in areas at risk of malaria transmission in 91 countries and territories. In 2016, malaria caused an estimated 216 million clinical episodes and 445,000 deaths, which increased to an estimated 228 million cases and 405,000 deaths in 2018. Majority of deaths occurred in the WHO African Region. Systemic lupus erythematosus (SLE) is another most common autoimmune disease, in which the immune system attacks its own tissues, causing widespread inflammation and tissue damage in the affected organs. Hydroxychloroquine and corticosteroids (e.g., prednisone) are often used to treat SLE. The Lupus Foundation of America estimates that 1.5 million people in the U.S. and at least five million people across the world have a form of lupus. Ninety percent (90%) of people living with lupus are women.
High Prevalence of Childhood Arthritis Cases and Autoimmune Diseases Triggers Market Growth
The hydroxychloroquine drugs market is predicted to clock a robust CAGR of 10% during the forecast period. Hydroxychloroquine (Plaquenil) is considered as a disease-modifying anti-rheumatic drug. The high prevalence of joint pain and long-term disability in individuals has catalyzed the demand for hydroxychloroquine drugs. Plaquenil is being highly publicized for effectively reducing pain and swelling of arthritis.
An alarmingly high number of childhood arthritis cases and other autoimmune diseases are acting as key drivers for the hydroxychloroquine drugs market. However, the drug may lead to severe hypoglycemia. Thus, diabetic patients are advised to regularly monitor their blood sugar levels. On the other hand, it has been found that hydroxychloroquine is not effective against malaria in areas where chloroquine resistance has been reported. Hence, pharma companies are advocating a better understanding of poor quality drugs on malaria control.
Pooled Analysis of Hydroxychloroquine Provides Drug Resistance Status
Hydroxychloroquine drugs are the gold standard for the treatment of malaria. However, in many cases, healthcare professionals have encountered drug resistance in patients, which is likely to affect the growth of the hydroxychloroquine drugs market. Poorly administered medicines and substandard treatments are affecting the sales of hydroxychloroquine drugs. Hence, manufacturers in the hydroxychloroquine drugs market are taking ques from the WorldWide Antimalarial Resistance Network (WWARN), which is facilitating study groups that generate a pooled analysis of the efficacy and safety of hydroxychloroquine drugs.
Freely available training courses, tools and resources are being employed to provide regional researchers with the knowledge and skills to generate high-quality antimalarial clinical data. As such, the FDA (Food and Drug Administration) approval for hydroxychloroquine is being highly preferred for rheumatoid arthritis and systemic lupus erythematosis treatment.
Decreased Disease Flares to Offset Disadvantages of Toxicity
The global hydroxychloroquine drugs market is expected to cross US$ 1.8 Bn by 2030, as manufacturers are increasing their output capacities that cater to the treatment of systemic lupus erythematosus. Research into the wide-ranging effects of hydroxychloroquine reveals that several benefits involving decrease in disease flares and decline in the number of antigen-presenting cells in the skin are bolstering market growth.
The decline in the damage from disease over time and the hydroxychloroquine’s ability to delay absorption of ultraviolet light (UV) are helping pharma companies boost their production capacities. However, patients with retinal dystrophy or macular degeneration are susceptible to toxicity due to hydroxychloroquine administration. Hence, companies in the hydroxychloroquine drugs market are encouraging patients to conduct annual examinations with qualified retina specialists to control toxicity levels.
In terms of disease indication, the global hydroxychloroquine drugs market has been bifurcated into malaria, rheumatoid arthritis, COVID-19, systemic lupus erythematosus, and others. The rheumatoid arthritis segment dominated the market in terms of revenue in 2020. The increase in geriatric population also fuels the growth of the segment. The prevalence varies between 0.3% and 1% and is more common in women and in developed countries, as per WHO data.
Based on distribution channel, the global hydroxychloroquine drugs market has been categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the global hydroxychloroquine drugs market in 2020. Large inventory maintained by hospitals and availability of essential drugs at hospital pharmacies are expected to drive the segment from 2020 to 2030. However, the online pharmacies segment is likely to expand at the highest CAGR during the forecast period. Increase in adoption of eCommerce and convenience offered by online pharmacies pharmacies are projected to drive the online pharmacies segment during the forecast period.
North America dominated the global hydroxychloroquine drugs market in 2020 and the trend is anticipated to continue during the forecast period. Well-established healthcare infrastructure and early adoption of advanced technologies are expected to boost the growth of the market in the region. Moreover, rise in prevalence of various types of targeted diseases increases demand for hydroxychloroquine drugs, which, in turn, fuels the growth of the market in North America.
Asia Pacific is likely to be a highly lucrative market for hydroxychloroquine drugs during the forecast period. The market in the region is expected to grow rapidly over the next few years, due to increase in penetration and rise in awareness about biologic and biosimilar drug products in China. The country’s high market share can be attributed to the faster adoption of biologic and biosimilar drug products to treat chronic diseases such as rheumatoid arthritis and increase in geriatric population.
Key players in the global market include Sanofi, Amneal Pharmaceuticals, Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., Novartis AG, Zydus Cadila, Dr. Reddy’s Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Lupin Limited, and Prasco Laboratories. New product development through robust R&D activities and merger & acquisitions are the key strategies adopted by these players to operate business in the global hydroxychloroquine drugs market.
The Hydroxychloroquine drugs market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Hydroxychloroquine drugs market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Hydroxychloroquine drugs market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Hydroxychloroquine drugs market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Hydroxychloroquine drugs market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Hydroxychloroquine drugs capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Hydroxychloroquine drugs by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Hydroxychloroquine drugs market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Hydroxychloroquine drugs market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Hydroxychloroquine drugs market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Hydroxychloroquine drugs industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Hydroxychloroquine drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Hydroxychloroquine drugs market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Hydroxychloroquine drugs market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Hydroxychloroquine drugs market. These factors have benefited the growth of the global market for Hydroxychloroquine drugs. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Hydroxychloroquine drugs. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the hydroxychloroquine drugs market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the hydroxychloroquine drugs market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Hydroxychloroquine drugs market.
Market Segments: This part of the report discusses about product, application and other segments of the hydroxychloroquine drugs market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
In this study, the years considered to estimate the market size of Hydroxychloroquine drugs are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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