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China Hydroxychloroquine Market is Projected to Grow at a CAGR Value of 4% During Forecast Period 2020-2030
China Hydroxychloroquine Market
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As a result, the demand for hydroxychloroquine has skyrocketed in the past few weeks. The United States alone has generated significant demand for 20 million hydroxychloroquine pills, amounting to 4 tons.
Moreover, the global demand for hydroxychloroquine is anticipated to surge amid the rapidly increasing COVID-19 infections. In 2020, from January to April, India has exported hydroxychloroquine API (active pharmaceutical ingredient) worth US$ 1.2 Bn. Attributed to above-mentioned facts global hydroxychloroquine market is estimated to experience a year on year growth of over 100% by the end of 2020.
Key Takeaways of Hydroxychloroquine Market Study
Due to skyrocketing demand for hydroxychloroquine, the global hydroxychloroquine market is expected to create a value opportunity of around US$ 2.3 Bn by the end of 2020.
The coronavirus pandemic has spiked the prices of API (active pharmaceutical ingredients) which is set to increase the market value by 2X through 2020.
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Based on drug type, anti-rheumatic drug has dominated the consumption of hydroxychloroquine in 2018 and is poised to account for nearly half of the market share by 2030.
Due to the high prevalence of rheumatoid arthritis and systemic lupus erythematosus, United Stated is projected to remain a highly lucrative region during the forecast period.
In terms of production, currently, India accounted for nearly half of the global production in 2019.
“Increasing prevalence of rheumatoid arthritis and systemic lupus erythematosus across the globe is poised to amplify the hydroxychloroquine market growth during the forecast period. The COVID-19 crisis will give an uptick to sales”, says the Fact.MR analyst.
Capacity Expansions to Meet the Skyrocketing Demand for Hydroxychloroquine
The players of hydroxychloroquine include Abcam plc, Advanz Pharma, Amneal Pharmaceuticals Inc, Bayer AG, Dr Reddy's Lab, Ipca Laboratories Ltd., Laurus Labs and Mylan. In order to meet the increasing demand of hydroxychloroquine tablets, market goliaths have increased their production capabilities.
Companies like Amneal Pharmaceuticals Inc, Bayer AG, Dr Reddy's Lab, Ipca Laboratories Ltd, Zydus Cadila and Mylan have expanded their production capacities to meet the increasing the demand of hydroxychloroquine.
Market titans have also decided to ramp up their production capacities further if demand increases in the upcoming months. Companies like Zydus Cadila, Ipca laboratories ltd and Sino-Western Pharmaceutical are able to ramp their production capacities to over 500 tons per year. However, burgeoning demand has almost doubled the prices of hydroxychloroquine active pharmaceutical ingredients. This scenario is poised to continue till the pandemic abates.
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More Valuable Insights on Hydroxychloroquine Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global hydroxychloroquine market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the Hydroxychloroquine market on the basis of drug type (anti-malarial drug, anti-rheumatic drug, lupus suppressant drug, anti COVID 19 drug and others) across six major regions.
The China Hydroxychloroquine Market research answers important questions, including the following:
1. Why China Hydroxychloroquine Market players are focusing on the business expansion in region?
2. Which regulatory authorities have granted approval to the application of China Hydroxychloroquine Market
3. What are the pros and cons of the China Hydroxychloroquine Market the environment?
4. Why players are targeting the production of segment?
5. What are the strategies implemented by emerging players in the global China Hydroxychloroquine Market?
Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/4769
The China Hydroxychloroquine Market report serves the readers with the following data:
• In-depth analysis of supply-side and demand-side trends.
• Direct and indirect impacts of the growth of relevant markets on the China Hydroxychloroquine Market.
• Importance of segment in various regions.
• Accurate Y-o-Y growth of the global China Hydroxychloroquine Market.
• Consumption trends among individuals across the globe.
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