Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Hydroxychloroquine is a safer derivative of chloroquine. Hydroxychloroquine is an immunosuppressive and anti-parasite drug indicated for the treatment or prevention of malaria, although the drug is ineffective for chloroquine-resistant malaria. Hydroxychloroquine is also recommended for autoimmune diseases such as systemic and discoid lupus erythematosus, and rheumatoid arthritis (acute and severe), when other medications fail to work or cannot be used.
Recently, hydroxychloroquine has attracted attention due to its effectiveness in treating the patients with coronavirus disease (COVID 19). Reports from China demonstrated chloroquine can possibly inhibit SARS-CoV-2 in vitro. The drug showed efficacy in treating patients with coronavirus disease (COVID 19). Hydroxychloroquine is expected to be a promising potential treatment for the coronavirus disease (COVID 19). The U.S. Food and Drug Administration (FDA) designated hydroxychloroquine for emergency use for treating coronavirus disease (COVID 19).
Major players such as operating in hydroxychloroquine market include, Amneal, Dr. Reddy's Laboratories, Laurus Labs, Mylan, Prasco Labs, Sandoz, Teva, and Zydus Cadila. According to Globes, in March 2020, manufacturers of generic version of hydroxychloroquine dominated the hydroxychloroquine market in 2019 in the U.S. The major market share holders in the hydroxychloroquine market were Prasco (30.5%), followed by Sandoz (28.2%), Zydos Cadila (14%), and Teva Pharmaceutical Industries Ltd. (9.2%).
The global hydroxychloroquine market size is estimated to be valued at US$ 484.9 million in 2019 and is expected to exhibit a CAGR of 45.7% over the forecast period (2020-2027).
Figure 1. Global Hydroxychloroquine Market Value (US$ Mn), by Region, 2019
Source: Coherent Market Insights Analysis (2020)
Increasing incidence of disease outbreaks is expected to propel the market growth over the forecast period
The increasing incidence of disease outbreaks such as coronavirus is escalating demand for advanced diagnostic measures, which is expected to boost growth of the hydroxychloroquine market. For instance, the coronavirus disease (COVID 19) is the most recent outbreak, which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared coronavirus disease (COVID 19) as a pandemic on March 11, 2020. According to the World Health Organization (WHO), around 823,626 cases of the coronavirus disease (COVID 19) were reported on April 1, 2020, globally.
Figure 2. Global Hydroxychloroquine Market Share (%), by Disease Indication
Source: Coherent Market Insights Analysis (2020)
Increasing demand of hydroxychloroquine is expected to drive the market growth over the forecast period
The increasing demand for hydroxychloroquine due to sudden outbreak of coronavirus disease (COVID 19) is expected to boost the market growth over the forecast period. For instance, on March 30, 2020, Novartis International AG announced that its generics and biosimilars division, Sandoz, started the shipping of 30 million doses of hydroxychloroquine tablets to the US Department of Health and Human Services (HHS) for controlled clinical studies. The purpose of the study is to evaluate the effectiveness of hydroxychloroquine in people who have tested positive for coronavirus disease (COVID 19). On the same day, Sandoz donated 20,000 doses of hydroxychloroquine to the University of Washington for a COVID-19 PEP clinical trial.
|Hydroxychloroquine Market Report Coverage
||Market Size in 2019:
||USD 484.9 million
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||USD 6,781.1 million
- North America: U.S.,Canada.
- Latin America: Brazil, Argentina, Mexico, Rest of Latin America
- Europe: Germany, UK, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
- GCC Countries: Israel, South Africa, North Africa, Central Africa
- Disease Indication
- Coronavirus Disease (COVID 19)
- Lupus Erythematosus
- Rheumatoid Arthritis
- Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
|Companies covered (8):
Sanofi S.A., Amneal Pharmaceuticals, Inc., Laurus Labs Limited, Zydus Pharmaceuticals, Inc., Prasco Laboratories, Dr. Reddy's Laboratories, Cadila Pharmaceuticals, Novartis International AG, Concordia Pharmaceuticals Inc., Covis Pharmaceuticals, Inc., Cardinal Health, Aphena Pharma Solutions Tennessee, Inc., Mylan N.V., McKesson Corporation, Teva Pharmaceutical Industries Ltd, Lupin Pharmaceutical, and Sun Pharmaceutical Industries Ltd.
- Disease outbreaks such as coronavirus disease (COVID 19)
- High prevalence of malaria and rheumatoid arthritis
- Increasing product launches and approvals
|Restraints & Challenges:
- Lack of evidences associated with the treatment coronavirus disease (COVID 19)
Major players operating in the global hydroxychloroquine market include Sanofi S.A., Amneal Pharmaceuticals, Inc., Laurus Labs Limited, Zydus Pharmaceuticals, Inc., Prasco Laboratories, Dr. Reddy's Laboratories, Cadila Pharmaceuticals, Novartis International AG, Concordia Pharmaceuticals Inc., Covis Pharmaceuticals, Inc., Cardinal Health, Aphena Pharma Solutions Tennessee, Inc., Mylan N.V., McKesson Corporation, Teva Pharmaceutical Industries Ltd, Lupin Pharmaceutical, and Sun Pharmaceutical Industries Ltd.