IMARC Group, a leading market research company, has recently releases report titled “Hydroxychloroquine Market Report by Dosage Type (200 Mg, 300 Mg, 400 Mg, and Others), Distribution (Hospital Pharmacies, Retail Pharmacies, and Others), Application (Rheumatoid Arthritis, Lupus Erythematosus, Malaria, Coronavirus (COVID-19), and Others), Grade (USP Standards Grade, EP Standards Grade, Pharmaceutical Standards Grade, and Others), Route of Administration (Oral, Intravenous), and Region 2024-2032” The study provides a detailed analysis of the industry, including the global hydroxychloroquine market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
Table of Contents
How big is the hydroxychloroquine market?
The global hydroxychloroquine market size reached US$ 1.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.98% during 2024-2032.
What is hydroxychloroquine?
Hydroxychloroquine (HCQ) is a derivative of chloroquine with the molecular formula (C18H26ClN3O). It is a chemotherapeutic drug deployed to prevent and treat malaria by targeting erythrocytic forms of malarial parasites. It is widely prescribed to treat rheumatoid arthritis, Q fever, systemic lupus erythematosus, and Porphyria Cutanea Tarda (PCT). It possesses anti-autophagy, antimalarial, and immunosuppressive properties as it hinders the immune system and presents cytokines and antigens in the body. As a result, hydroxychloroquine is widely available in the form of tablets across hospitals and retail pharmacies.
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What are the growth prospects and trends in the hydroxychloroquine industry?
The market is primarily driven by the growing prevalence of malaria and pesticide resistance among vectors. In addition, HCQ is widely used as a disease-modifying anti-rheumatic drug (DMARD), which is contributing to market growth. Moreover, the recent onset of the coronavirus disease (COVID-19) pandemic and the increasing clinical trials and experiments underway to determine the efficacy of the drug against the virus represents another major growth-inducing factor. Besides this, the increasing population, rising health awareness, and the growing incidences of autoimmune diseases, including lupus erythematosus and rheumatoid arthritis among individuals, are accelerating the product adoption rate. Along with this, the implementation of favorable government policies to encourage global health is accelerating the product adoption rate. Furthermore, the extensive research and development (R&D) activities conducted by key market players in the field of medical sciences, easy access to quality healthcare, and approval of novel drugs are propelling the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Dosage Type:
- 200 Mg
- 300 Mg
- 400 Mg
- Others
Breakup by Distribution:
- Hospital Pharmacies
- Retail Pharmacies
- Others
Breakup by Application:
- Rheumatoid Arthritis
- Lupus Erythematosus
- Malaria
- Coronavirus (COVID-19)
- Others
Breakup by Grade:
- USP Standards Grade
- EP Standards Grade
- Pharmaceutical Standards Grade
- Others
Breakup by Route of Administration:
- Oral
- Intravenous
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Amneal Pharmaceuticals Inc.
- Cipla Ltd.
- Ipca Laboratories Ltd.
- Laurus Labs
- Lupin Limited
- Mylan N.V.
- Prasco Laboratories
- Dr. Reddy’s Laboratories Ltd.
- Sanofi S.A.
- Teva Pharmaceuticals USA Inc. (Teva Pharmaceutical Industries Ltd.),
- Torrent Pharmaceuticals Ltd.
- Zydus Lifesciences Limited
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