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Hydroxychloroquine Market Trends, Size, Industry Segments And Profit Growth By Forecast To 2033
Hydroxychloroquine Market Trends
As per the report, the hydroxychloroquine market size has grown strongly in recent years. It will grow from $2.07 billion in 2023 to $2.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The hydroxychloroquine market size is expected to see strongly grown in the next few years. It will grow to $2.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
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Pandemic Drives Surge In Hydroxychloroquine Demand
The increasing number of coronavirus cases has increased the demand for hydroxychloroquine market. 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. According to the World Health Organization (WHO) Coronavirus (COVID-19) Dashboard, as of September 21, 2023, there have been 770,778,396 confirmed cases of COVID-19, including 6,958,499 deaths, reported globally. USA, Brazil, Russia, UK, India, and Spain are the countries most affected by the virus. Therefore, the continuous increase in coronavirus cases across the globe is surging the demand for hydroxychloroquine, generating higher revenues for the hydroxychloroquine market during the period.
Major Pharmaceutical Companies Investing In Hydroxychloroquine Production To Address Increased Demand
Major companies operating in the hydroxychloroquine market are investing in the development of hydrochloroquine to meet the growing demand for hydroxychloroquine and expand their product portfolios. For instance, in March 2021, Aspen Pharmaceutical Corporation, a South African-based pharmaceutical company, received $20 billion from BNDES (Brazilian Development Bank), a Brazil-based banking company, in connection with its hydroxychloroquine manufacturing. This loan was part of a larger $153 million investment that Aspen was making in its hydroxychloroquine manufacturing operations in Brazil. An investment was made in response to the growing demand for hydroxychloroquine during the COVID-19 pandemic. Aspen's investment in hydroxychloroquine manufacturing was seen as a positive step by the Brazilian government, as it would help to ensure that the country had a sufficient supply of the drug to meet the needs of its population.
The hydroxychloroquine market covered in this report is segmented -
1) By Drug Activity: Anti-Malarial Drug, Anti-Rheumatic Drug, Lupus Suppressant Drug, Anti COVID-19 Drug, Other Drug Activity
2) By Formulation: Tablets, Injection
3) By Application: Malaria, Rheumatoid Arthritis, Lupus Erythematosus, COVID-19, Other Applications
4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Speciality Drug Stores, Retail Pharmacy
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Major companies operating in the hydroxychloroquine market include Bayer AG, Dr. Reddy's Laboratories Ltd., Zydus Group, Ipca Laboratories Ltd., Wallace Pharma, Teva Pharmaceuticals Inc., Mylan Pharmaceuticals Inc., Novartis AG, Intas Pharmaceuticals Ltd., Lupin Limited, Shanghai Zhongxi Sanwei Pharmaceutical Co. Ltd., Torrent Pharmaceuticals Ltd., BSE healthcare, Hikma Pharmaceuticals plc, Sandoz International GmbH, Cipla Limited, Shenhua Pharmaceutical Co. Ltd., Sanofi S.A., Macleod Pharmaceuticals Ltd., McW Healthcare, Laurus Labs, TAJ Pharmaceuticals, Wuhan Wuyao Pharmaceutical Co. Ltd., MAAN Medex, Cinkate Corporation, Concordia Healthcare, Pfizer Inc., Cadila Pharmaceuticals, Hetero Drugs Ltd., Jubilant Generics Limited, Alembic Pharmaceuticals Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma USA Inc., Alkem Laboratories Ltd., Glenmark Pharmaceuticals Ltd., Unichem Laboratories Ltd., Wockhardt Limited, Emcure Pharmaceuticals Ltd., Strides Pharma Science Ltd., Indoco Remedies Ltd.
Contents of the report:
1. Executive Summary
2. Hydroxychloroquine Market Report Structure
3. Hydroxychloroquine Market Trends And Strategies
4. Hydroxychloroquine Market - Macro Economic Scenario
5. Hydroxychloroquine Market Size And Growth
…..
27. Hydroxychloroquine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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