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Hydroxychloroquine Market 2023 - Market Trends, Key Drivers, Competitive Landscape, Share And Forecast To 2032
Hydroxychloroquine Market
The Business Research Company's Hydroxychloroquine Global Market Report 2023 identifies increasing number of coronavirus cases as the major driver for the Hydroxychloroquine market's growth in the forecast period. The demand for hydroxychloroquine is growing attributing to its use in the treatment of COVID-19 patients and the ongoing clinical trials. The US Food and Drug Administration has authorized the emergency use of hydroxychloroquine for the treatment of COVID-19 patients in the hospital or enrolled in clinical trials.
The global hydroxychloroquine market size grew from $1.8 billion in 2022 to $1.93 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global hydroxychloroquine is expected to grow from $2.52 billion in 2027 at a CAGR of 6.9%.
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Major competitors in the Hydroxychloroquine market are Bayer AG, Dr. Reddy's Laboratories, Zydus Cadila, Ipca Laboratories Ltd.
A key trend in the Hydroxychloroquine market includes undertaking various strategic initiatives such as increasing production capacity and the expansion of manufacturing plants to meet the augmented global demand. For instance, in April 2020, Zydus Cadila announced that the company has ramped up its production capacity by 10 times for the production of hydroxychloroquine post the COVID-19 outbreak. Moreover, other manufacturers including IPCA Laboratories increased their monthly hydroxychloroquine production capacity five to six times during May 2020. Thus, the ramp-up of production capacities by major companies is a major trend shaping the hydroxychloroquine market.
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The Hydroxychloroquine market is segmented -
• By Drug Activity: Anti-Malarial Drug, Anti-Rheumatic Drug, Lupus Suppressant Drug, Anti COVID-19 Drug, Other Drug Activity
• By Formulation: Tablets, Injection
• By Application: Malaria, Rheumatoid Arthritis, Lupus Erythematosus, COVID-19, Other Applications
• By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Speciality Drug Stores, Retail Pharmacy
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Hydroxychloroquine market.
The Business Research Company's "Global Hydroxychloroquine Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Hydroxychloroquine Market Include:
1. Executive Summary
2. Hydroxychloroquine Market Characteristics
3. Hydroxychloroquine Market Trends And Strategies
4. Hydroxychloroquine Market - Macro Economic Scenario
5. Hydroxychloroquine Market Size And Growth
………………………………..
27. Hydroxychloroquine Market Competitive Landscape And Company Profiles
28. Hydroxychloroquine Pipeline Analysis
29. Key Mergers And Acquisitions In The Hydroxychloroquine Market
30. Hydroxychloroquine Market Future Outlook and Potential Analysis
31. Appendix
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𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧:
The COVID-19 pandemic has reshaped industries worldwide, and pharmaceuticals are no exception. Hydroxychloroquine, once hailed as a potential treatment for COVID-19, saw a surge in demand, triggering a significant impact on its market dynamics. In this blog, we delve into the Global Hydroxychloroquine Market, analyzing its size, share, and the influence of COVID-19 on various factors such as resin type, application, technology, end-use industry, and regional trends.
𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐇𝐲𝐝𝐫𝐨𝐱𝐲𝐜𝐡𝐥𝐨𝐫𝐨𝐪𝐮𝐢𝐧𝐞:
Hydroxychloroquine, primarily used…
