Hydroxychloroquine Market: Current Analysis and Forecast (2022-2028)

Global Hydroxychloroquine Market is expected to grow at a significant rate of around 10% during the forecast period. Hydroxychloroquine is a medicine that is sold under the brand name Plaquenil and is used for preventing and treating malaria in areas where malaria remains sensitive to chloroquine. It is also used in the treatment of rheumatoid arthritis, lupus, COVID-19, etc. The growth of the hydroxychloroquine market can be attributed to the rising incidences of malaria in developing nations. For instance, according to the World Malaria Report, in 2019, nearly 6 million individuals were diagnosed with malaria alone in India. Also, as per WHO, in 2020, there were an estimated 241 million cases of malaria worldwide and the estimated number of malaria deaths stood at 6,27,000. Furthermore, many leading manufacturers of hydroxychloroquine have escalated the production and sales of this medicine during the pandemic as different studies in France & U.S. have shown promising results for the COVID-19 treatment.

Sanofi S.A., Novartis AG, Pfizer Inc., Cadila Pharmaceuticals Limited, Ipca Laboratories Limited, Mylan N.V., Teva Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd., Sun Pharmaceutical Industries Ltd., Lupin Limited. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hydroxychloroquine.

Insights Presented in the Report:

"Amongst disease, malaria category to witness robust CAGR during the forecast period"

Based on disease, the market is segmented into malaria, rheumatoid arthritis, COVID-19, and others. The malaria segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe as hydroxychloroquine is an anti-malarial drug and is widely used for treating acute attacks of malaria. Furthermore, the surging cases of malaria across the world is also one of the prominent factors contributing to the growth of the market.

"Amongst distribution channels, the hospital pharmacy to hold a significant share in the market in 2020"

On the basis of distribution channels, the market is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, the hospital pharmacies to hold a significant share in the market in 2020. This is mainly due to the increasing preference of the patients to avail treatment in hospitals and the easy availability of the medication in hospital pharmacies. However, the online pharmacy segment is expected to witness significant CAGR owing to the growing penetration of e-pharmacy platforms across the world coupled with increasing awareness regarding services offered by e-pharmacy.

"Asia-Pacific to hold a significant share in the market"

For a better understanding of the market adoption of the All-Terrain Vehicle industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing prevalence of malaria cases in developing Asian countries. Further, India is also one of the largest manufacturers and exporters of hydroxychloroquine which is also driving the market in the region.

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Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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