Hydroxychloroquine Market Size Worth USD 1,711.4 Million in 2032 | Emergen Research

The global hydroxychloroquine market size was USD 997.3 Million in 2022 and is expected to register a rapid revenue CAGR of 5.6% during the forecast period. A recent market research report sheds light on the global hydroxychloroquine market, providing valuable insights into its drivers, restraints, and segment dynamics. The report, compiled by industry experts, presents a comprehensive overview of the market landscape, offering crucial information for stakeholders and investors.

Key Market Drivers

The rising prevalence of malaria in emerging countries and increasing Research & Development (R&D) efforts by major pharmaceutical companies are identified as primary factors driving the revenue growth of the hydroxychloroquine market. With approximately 249 million reported malaria cases worldwide in 2022, the demand for hydroxychloroquine, an effective anti-malarial drug, has surged significantly.

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Market Restraints

Despite the market growth prospects, stringent regulatory requirements and concerns regarding heart rhythm problems serve as notable restraints. Regulatory standards and potential new regulations pose challenges for the global utilization of hydroxychloroquine. Additionally, the combination of hydroxychloroquine with certain medications has been associated with severe cardiac rhythm irregularities, impacting market growth.

Segment Insights

Hydroxychloroquine Distribution Channel:

The online segment dominates the distribution channel, accounting for the largest market share in 2022. Rapid expansion of the e-commerce sector, coupled with increasing penetration of online platforms in the pharmaceutical industry, has propelled the growth of this segment. Factors such as lack of availability of medical assistance in traditional pharmacies and the convenience of home delivery contribute to the segment's revenue growth.

Hydroxychloroquine Diseases:

Malaria emerges as the dominant segment, expected to register steady market growth during the forecast period. The widespread prevalence of malaria and the extensive use of hydroxychloroquine as an anti-malarial drug drive the segment's growth. Additionally, the efficacy of hydroxychloroquine in treating diseases such as rheumatoid arthritis and lupus erythematosus contributes to market expansion.

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Hydroxychloroquine End-Use:

Hospitals & clinics emerge as the dominant end-use segment, accounting for a significantly large market share. The preference for hospitals and clinics for treatment is attributed to their specialized experience, advanced technology, and comprehensive care offerings. These institutions ensure superior treatment, emergency services, and access to a wide range of specialty therapies, making them the preferred choice for healthcare services.

Hydroxychloroquine Top Companies and Competitive Landscape

The global hydroxychloroquine market is fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective hydroxychloroquine solutions.

• Torrent Pharmaceuticals Ltd.
• Taj Pharmaceuticals Ltd.
• Pfizer Inc.
• Novartis AG
• Hikma Pharmaceuticals PLC
• Cadila Healthcare Ltd.
• Genentech, USA Inc.
• Zydus Cadila
• Lupin
• AJANTA PHARMA

Hydroxychloroquine Latest Industry News

• In April 2023, Ipca Laboratories Ltd., which is an Indian pharmaceutical company, announced its acquisition of a 33.38% stake in Unichem Laboratories Ltd. for a sum of up to INR 10.34 billion (around 0.12 USD Billion). Ipca is initiating an open offer to purchase an extra 26% stake from Unichem's shareholders for 8.05 billion rupees, as stated in a regulatory filing.
• In February 2022, Accord Healthcare Inc. introduced the additional strengths of hydroxychloroquine sulfate tablets in the United States. The generic version of Plaquenil, hydroxychloroquine, is typically used to treat malaria, lupus, and rheumatoid arthritis.

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Hydroxychloroquine Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global hydroxychloroquine market on the basis of product, distribution channel, diseases, end-use, and region:

• Product Outlook (Revenue, USD Million; 2019-2032)
o Tablet
o Active Pharmaceutical Ingredients (APIs)

• Distribution Channel Outlook (Revenue, USD Million; 2019-2032)
o Hospital
o Retail
o Online
o Specialty drug store

• Diseases Outlook (Revenue, USD Million; 2019-2032)
o Malaria
o Rheumatoid arthritis
o Lupus erythematosus
o Coronavirus
o Others

• End-Use Outlook (Revenue, USD Million; 2019-2032)
o Hospitals & clinics
o Homecare
o Others

• Regional Outlook (Revenue, USD Million; 2019-2032)
o North America
1. U.S.
2. Canada
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Russia
8. Rest of Europe
o Asia Pacific
1. China
2. Japan
3. South Korea
4. India
5. ASEAN Countries
6. Oceania
7. Rest of APAC
o Latin America
1. Brazil
2. Mexico
3. Rest of LATAM
o Middle East & Africa
1. GCC Countries
2. Israel
3. Turkey
4. South Africa
5. Rest of Middle East & Africa

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