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Hydroxychloroquine Market is projected to grow USD 450.69 million in 2019 and expected to grow at CAGR of 37.89% by 2026

Market Overview 

Hydroxychloroquine is an anti-malaria drug which is mainly used to prevent the malaria from mosquito bites. It is also used to treat different medical conditions, like lupus or atrophic arthritis. This medication is accessible as associate oral medication and will be smitten food or milk so as to minimize the probabilities of symptom. Some potential aspect effects of anti-inflammatory drug sulphate could embody visual disturbances, skin reactions, or a modification in blood cell counts. Patients with some medical conditions, particularly disease, might not be ready to safely use this medication. 

Outbreak of Covid 19 and its effect on Hydroxychloroquine Market 

The novel coronavirus that causes Covid-19 has spread the worldwide in more than 190 countries. The World Health Organization (WHO) declared it as a global pandemic with the increasing number of infected cases. The coronavirus generates the respiratory illness and develops the symptoms such as cough, fever, and difficulty in breathing. Currently, there is no specific drug or vaccination is available in the market for the treatment of Covid-19. However, hydroxychloroquine, an anti-malarial drug has seen some effectiveness against coronavirus in some studies. Therefore, there is huge demand for the hydroxychloroquine in all over the world. India is one world largest manufacturer of hydroxychloroquine and produces more than 70% of world’s hydroxychloroquine production. 

Market Segmentation

The pharmaceutical standards grade segment is likely to grow at the highest CAGR in the global hydroxychloroquine market over the forecast period 

The global hydroxychloroquine market is segregated on the basis of product as USP standards grade, EP standards grade, pharmaceutical standards grade, and others. The pharmaceutical standards grade segment is likely to grow at the highest CAGR in the global hydroxychloroquine market over the forecast period. The pharmaceutical grade refers to the manufacturing process used by pharmaceutical companies for the production of drugs and other medications. 

Covid-19 segment is likely to grow at the highest CAGR over the forecast period 

Based on application the global hydroxychloroquine market is segmented in Rheumatoid Joint, Adolescent Chronic Joint, Discoid and Systemic Lupus Erythemato Sus, Covid-19, and Skin Lesions. The Covid-19 segment is likely to grow at the highest CAGR of 39.36% over the forecast period. The recent outbreak of global pandemic Covid-19 has spread all over the world and there is no specific treatment available for the covid-19. However, hydroxychloroquine has the antiviral properties and has seen effective against the coronavirus. Thus, there is huge demand for the coronavirus in the world. 

Regional Landscape 

Asia Pacific region is projected to hold the largest market share in the global hydroxychloroquine market. The growth is mainly due to high prevalence of malaria in some of the Asian countries. In addition to this, India is the world’s largest producer of hydroxychloroquine drug, as India has high prevalence of malaria. In addition to this, presence of many large local pharmaceutical companies that produces the hydroxychloroquine in India drives the growth of market. Furthermore, increasing global pandemic Covid-19 in the world, many countries are asking the India to supply the drug to fight against the coronavirus. Thus, many Indian companies have boosted the production of hydroxychloroquine to meet the local and global demand. North America region is likely to hold the significant market share in the market. U.S. has the highest number of coronavirus cases, and thus, there is a huge demand for hydroxychloroquine to treat the patients with Covid-19. 

Competitive Landscape 

Some of the leading companies of global hydroxychloroquine market are Sanofi, H-QYN, Mylan, TAJ Pharma, MAAN Medex, Sun Pharmaceutical, Cinkate, IPCA, Shanghai Pharma, and Shenhua Pharm among others. Many companies have expanded the production of hydroxychloroquine amid the outbreak of Covid-19. 

In March 2020, Sun Pharmaceutical announced that it has donated the 2.5 million hydroxychloroquine sulfate tablets in the US for potential COVID-19 treatment.  

Market Segmentation

Global Hydroxychloroquine Market By Type

  • USP Standards Grade
  • EP Standards Grade
  • Pharmaceutical Standards Grade
  • Others

Global Hydroxychloroquine Market By Application 

  • Rheumatoid Joint
  • Adolescent Chronic Joint
  • Discoid and Systemic Lupus Erythemato Sus
  • Covid-19,
  • Skin Lesions
  • Others

Global Hydroxychloroquine Market By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa