Hydroxychloroquine Drugs Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 16.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Hydroxychloroquine Drugs Market Analysis
The global hydroxychloroquine drugs market studied was anticipated to register a CAGR of nearly 16.8% during the forecast period. 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. Broad-spectrum hydroxychloroquine drugs can be used to treat a range of viruses. According to China's Ministry of Science and Technology, hydroxychloroquine is one of the drugs which demonstrated encouraging profile for blocking coronavirus in early clinical trials.
Recently, hydroxychloroquine has attracted attention due to its effectiveness in treating patients with coronavirus disease (COVID 19). Reports from China demonstrated chloroquine could possibly inhibit SARS-CoV-2 in vitro. The drug showed high efficacy in treating the patients with coronavirus disease (COVID 19). Hydroxychloroquine is expected to be a promising potential treatment for the coronavirus disease (COVID 19). The US Food and Drug Administration (FDA) designated hydroxychloroquine for emergency use for treating coronavirus disease (COVID 19).
Increasing demand for novel hydroxychloroquine and rising penetration of generic drugs are estimated to provide a significant boost to the market. For instance, in March 2020, Novartis International AG started the shipping of 30 million doses of hydroxychloroquine tablets to the US Department of Health and Human Services (HHS) for controlled clinical studies to evaluate the effectiveness of hydroxychloroquine in people who have tested positive for coronavirus disease (COVID 19). In addition, increasing product approval is poised to have strong market penetration due to the presence of increased government funding.
Growing patient awareness regarding COVID-19 and the influx of new generics in the global arena are projected to accelerate the adoption of hydroxychloroquine drugs. As per the Johns Hopkins University, as of 15th April 2020, approximately 609,516 people suffered from COVID-19 in the US alone. Increasing awareness regarding disease remittance therapies, rising clinical trials to evaluate the effectiveness of hydroxychloroquine in the treatment of COVID-19 are estimated to promote revenue growth. However, poor healthcare accessibility in low-income countries may restrain the growth of the market.
Hydroxychloroquine Drugs Market Trends
This section covers the major market trends shaping the Hydroxychloroquine Drugs Market according to our research experts:
Rheumatoid Arthritis Dominates the Market and is Expected to Continue to Do the Same during the Forecast Period
- Rheumatoid arthritis is expected to dominate the global hydroxychloroquine drugs market through the forecast period. This can be attributed to the rising prevalence of rheumatoid arthritis, which causes different symptoms, such as joint pain, swelling, and stiffness, which are generally accompanied by chronic pain and inability to perform daily activities. Over a prolonged period, this disorder can hamper a patient's mobility and can lead to permanent joint damage. If left untreated, this disorder can lead to mobility impairment and the risk of joint replacement.
- According to the World Health Organization, more than 23 million people live with rheumatoid arthritis. Thus, the rheumatoid arthritis segment is witnessing a shift toward combination therapies that provide enhanced results to patients. Higher availability, positive results, and low price of generic drugs for the target disease are supplementing the growth of the segment.
- Moreover, COVID-19 is estimated to be the fastest-growing segment over the forecast period. Exponentially increasing cases worldwide is the major factor expected to drive the vertical over the forecast period. The World Health Organization declared coronavirus disease (COVID 19) as a pandemic on March 11, 2020. As per the Johns Hopkins University, till the date April 15, COVID-19 is responsible for more than 126,859 deaths worldwide. Hydroxychloroquine is expected to be a promising potential treatment for the coronavirus disease (COVID 19). The US Food and Drug Administration (FDA) designated hydroxychloroquine for emergency use for treating coronavirus disease (COVID 19). All the aforementioned factors expected to bode a well for this vertical.
North America Represents the Largest Market and Asia-Pacific is Expected to Register Fastest Growth.
North America is at the forefront of growth in the region and is also an important revenue contributor in the global arena. Heightened awareness of disease remittance therapies among patients, rising prevalence of RA and COVID-19, and high public and private healthcare spending are stimulating the growth of the region. Moreover, the World Health Organization estimates that by the end of 2040, 54.4 million adults in the country may suffer from rheumatoid arthritis. Moreover, easy access to quality healthcare, favorable reimbursement policies, strong clinical pipeline, and approval of novel drugs are projected to promote revenue growth in North America.
Asia-Pacific is likely to post the fastest market throughout the forecast horizon. Lack of disease awareness in some underdeveloped regions is leading to an expanding base of patients in the region. This, coupled with increasing healthcare spending, presence of key manufacturers, such as Zydus Cadila, Novartis, and Sun Pharmaceuticals, and growing product approvals, is expected to propel the market in APAC. Increasing demand for target drug for disease reversal is poised to augment the regional markets during the forecast period.
Hydroxychloroquine Drugs Industry Overview
Manufacturers offering generic versions dominate the global hydroxychloroquine drugs market. Companies are focusing on building generic chemical entities and innovative molecules to consolidate their foothold. Some of the prominent market participants are DR. REDDY'S LABORATORIES LTD, Laurus Labs Limited, Lupin, Mylan NV, Novartis International AG, Sanofi SA, Sun Pharmaceutical Industries Ltd, Teva Pharmaceuticals USA Inc., and Zydus Pharmaceuticals.
The introduction of generic versions and the strong clinical pipeline is anticipated to increase competition in the market. For instance, in April 2020, Zydus Cadila and Ipca Labs have backward integrated HCQ making capability with the aim to increase production capacity by 5-6 times to 70 MT per month thereby, expanding the range of treatment options for the millions of patients living with target diseases.
Hydroxychloroquine Drugs Market Leaders
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Sanofi S.A
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Sun Pharmaceutical Industries Ltd.
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Mylan N.V
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Teva Pharmaceuticals USA, Inc
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Zydus Pharmaceuticals
*Disclaimer: Major Players sorted in no particular order
Hydroxychloroquine Drugs Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Disease Outbreaks Such As Coronavirus Disease (COVID 19)
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4.2.2 High prevalence of Malaria and Rheumatoid Arthritis
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4.2.3 Increasing Product Launches and Approvals
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4.2.4 Expanding Application of Hydroxychloroquine in Various Therapeutic Conditions
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4.3 Market Restraints
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4.3.1 Global Shortage of Hydroxychloroquine
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4.3.2 Poor Healthcare Accessibility in Low Income Countries
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Application
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5.1.1 Coronavirus Disease (COVID-19)
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5.1.2 Malaria
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5.1.3 Lupus Erythematosus
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5.1.4 Rheumatoid Arthritis
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5.2 By distribution Channel
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5.2.1 Online Pharmacy
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5.2.2 Hospital Pharmacy
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5.2.3 Retail Pharmacy
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.2 Europe
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5.3.2.1 Germany
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5.3.2.2 United Kingdom
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5.3.2.3 France
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5.3.2.4 Italy
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5.3.2.5 Spain
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5.3.2.6 Rest of Europe
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5.3.3 Asia-Pacific
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5.3.3.1 China
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5.3.3.2 Japan
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5.3.3.3 India
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5.3.3.4 Australia
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5.3.3.5 South Korea
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5.3.3.6 Rest of Asia-Pacific
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5.3.4 Middle-East and Africa
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5.3.4.1 GCC
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5.3.4.2 South Africa
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5.3.4.3 Rest of Middle-East and Africa
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5.3.5 South America
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5.3.5.1 Brazil
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5.3.5.2 Argentina
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5.3.5.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 DR. REDDY'S LABORATORIES LTD
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6.1.2 Laurus Labs Limited,
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6.1.3 Lupin
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6.1.4 Mylan NV
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6.1.5 Novartis International AG
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6.1.6 Sanofi SA
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6.1.7 Sun Pharmaceutical Industries Ltd
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6.1.8 Teva Pharmaceuticals USA Inc.
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6.1.9 Zydus Pharmaceuticals
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Hydroxychloroquine Drugs Industry Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2025. For the purpose of this study, Mordor Intelligence has segmented the global hydroxychloroquine drugs market report on the basis of disease type, distribution channel, and region.
| By Application | |
| Coronavirus Disease (COVID-19) | |
| Malaria | |
| Lupus Erythematosus | |
| Rheumatoid Arthritis |
| By distribution Channel | |
| Online Pharmacy | |
| Hospital Pharmacy | |
| Retail Pharmacy |
| Geography | ||||||||
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Hydroxychloroquine Drugs Market Research FAQs
What is the current Hydroxychloroquine Drugs Market size?
The Hydroxychloroquine Drugs Market is projected to register a CAGR of 16.80% during the forecast period (2024-2029)
Who are the key players in Hydroxychloroquine Drugs Market?
Sanofi S.A, Sun Pharmaceutical Industries Ltd., Mylan N.V, Teva Pharmaceuticals USA, Inc and Zydus Pharmaceuticals are the major companies operating in the Hydroxychloroquine Drugs Market.
Which is the fastest growing region in Hydroxychloroquine Drugs Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Hydroxychloroquine Drugs Market?
In 2024, the North America accounts for the largest market share in Hydroxychloroquine Drugs Market.
What years does this Hydroxychloroquine Drugs Market cover?
The report covers the Hydroxychloroquine Drugs Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hydroxychloroquine Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hydroxychloroquine Drugs Industry Report
Statistics for the 2024 Hydroxychloroquine Drugs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hydroxychloroquine Drugs analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
