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Global Hydroxychloroquine Market Gains Momentum Amid Rising Malaria Cases and Increased R&D in Pharmaceutical Sector
Hydroxychloroquine Market
Key Drivers Fueling Market Expansion
Hydroxychloroquine's broad applications are essential in supporting its growth. It is recognized not only for treating acute malaria attacks but also for managing conditions like systemic lupus erythematosus (SLE) and rheumatoid arthritis. In 2022, malaria alone impacted approximately 249 million people globally, with 608,000 fatalities reported across 85 countries. The Asia Pacific region faced a particularly high malaria burden, accounting for 94% of all malaria cases worldwide and 95% of deaths, underscoring the urgent demand for effective treatments like hydroxychloroquine.
In addition to its anti-malarial use, hydroxychloroquine's potential was explored during the COVID-19 pandemic. In March 2020, Novartis International AG delivered 30 million doses to the U.S. Department of Health and Human Services for clinical trials aimed at evaluating its effectiveness against COVID-19. Beyond infectious diseases, hydroxychloroquine has shown promising results in reducing disease flares and controlling symptoms in lupus patients, such as joint pain and fatigue. Additionally, studies presented at ACR Convergence 2023 indicate that individuals with rheumatoid arthritis who use hydroxychloroquine have a reduced risk of developing nonalcoholic fatty liver disease.
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Market Restraints and Challenges
Despite its wide applications, the hydroxychloroquine market faces challenges, particularly concerning safety and regulatory requirements. Cardiac side effects have been reported, especially when hydroxychloroquine is combined with other medications like azithromycin. The European Drugs Agency noted that high doses of hydroxychloroquine combined with other drugs could cause severe, and occasionally fatal, heart rhythm irregularities, posing a barrier to its global usage.
Segment Highlights
Distribution Channel Insights: Among distribution channels, online platforms led the market share in 2022. The rise of e-commerce in pharmaceuticals has made it easier for consumers to access essential medicines, even in areas with limited medical assistance. The convenience of home delivery and the wide availability of drugs on online platforms contribute to this segment's growth.
Disease-Specific Insights: Hydroxychloroquine is mainly used to combat malaria, rheumatoid arthritis, lupus, and, more recently, COVID-19. The malaria segment is expected to grow steadily, supported by rising malaria cases worldwide and hydroxychloroquine's established efficacy. Following malaria, rheumatoid arthritis is also a key segment, with a notable prevalence among late adolescents and older adults.
End-Use Dynamics: The hospitals and clinics segment continues to be the leading end-user in the hydroxychloroquine market. These facilities are preferred due to their specialized expertise, advanced equipment, and comprehensive care services, offering patients access to emergency services and a wide range of specialty treatments. Hospitals' adherence to strict safety protocols and collaborative medical practices makes them the primary choice for patients seeking high-quality care.
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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)
Tablet
Active Pharmaceutical Ingredients (APIs)
Distribution Channel Outlook (Revenue, USD Million; 2019-2032)
Hospital
Retail
Online
Specialty drug store
Diseases Outlook (Revenue, USD Million; 2019-2032)
Malaria
Rheumatoid arthritis
Lupus erythematosus
Coronavirus
Others
End-Use Outlook (Revenue, USD Million; 2019-2032)
Hospitals & clinics
Homecare
Others
Regional Outlook (Revenue, USD Million; 2019-2032)
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Benelux
Russia
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
ASEAN Countries
Oceania
Rest of APAC
Latin America
Brazil
Mexico
Rest of LATAM
Middle East & Africa
GCC Countries
Israel
Turkey
South Africa
Rest of Middle East & Africa
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Unlocking Opportunities: Detailed Market Assessment and Strategy
Hydroxychloroquine Market Size @ https://www.emergenresearch.com/industry-report/hydroxychloroquine-market/market-size
Hydroxychloroquine Market Share @ https://www.emergenresearch.com/industry-report/hydroxychloroquine-market/market-share
Hydroxychloroquine Market Trends @ https://www.emergenresearch.com/industry-report/hydroxychloroquine-market/market-trends
Hydroxychloroquine Regional Market Demand @ https://www.emergenresearch.com/industry-report/hydroxychloroquine-market/regional-market-demand
Hydroxychloroquine Market Analysis @ https://www.emergenresearch.com/industry-report/hydroxychloroquine-market/market-analysis
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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.
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Hydroxychloroquine, primarily used…
