Hydroxychloroquine Market to Surpass US$ 6,781.1 Million by 2027 - Coherent Market Insights

Global Hydroxychloroquine Market, By Disease Indication (Malaria, Coronavirus Disease, Lupus Erythematosus, and Rheumatoid Arthritis), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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 (2019-2027), as highlighted in a new report published by Coherent Market Insights.

Key players operating in hydroxychloroquine market are tediously working on this, which include Amneal, Dr. Reddy's Laboratories, Laurus Labs, Mylan, Prasco Labs, Sandoz, Teva, and Zydus Cadila. Many key players have ramped up the production of hydroxychloroquine to meet the increased demand for this drug due to coronavirus outbreak, which is expected to drive the market growth over the forecast period. For instance, on March 20, 2020, Amneal Pharmaceuticals, Inc., a U.S.-based generics manufacturer, announced that it is ramping up the production of hydroxychloroquine sulfate at several of its manufacturing sites to meet the potential of the drug for the treatment of patients with coronavirus. Amneal Pharmaceuticals, Inc. will be producing around 20 million hydroxychloroquine sulfate tablets by mid- April, which will be distributed nationwide through Amneal’s existing retail and wholesale customers.

Browse 23 Market Data Tables and 18 Figures spread through 145 Pages and in-depth TOC on “Hydroxychloroquine Market”- Global Forecast to 2027, by Disease Indication (Malaria, Coronavirus Disease, Lupus Erythematosus, and Rheumatoid Arthritis), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).

To know the latest trends and insights prevalent in the global hydroxychloroquine market, click the link below:

https://www.coherentmarketinsights.com/market-insight/hydroxychloroquine-market-3727

The increasing approval of generic versions of hydroxychloroquine from regulatory authorities such as the U.S. Food and Drug Administration (FDA) is expected to boost the market growth over the forecast period. For instance, in July 2018, Lupin Pharmaceutical received approval from the U.S. Food and Drug Administration (FDA) for its Hydroxychloroquine Sulfate Tablets USP, 200 mg, indicated for the treatment of malaria, chronic discoid lupus erythematosus, and systemic lupus erythematosus in adults, and acute and chronic rheumatoid arthritis in adults.

Moreover, on March 28, 2020, the U.S. Food and Drug Administration (FDA) authorized Chloroquine Phosphate or Hydroxychloroquine Sulfate for emergency use in order to treat the patients with coronavirus disease.

Key Takeaways of the Global Hydroxychloroquine Market:

• The global hydroxychloroquine market is expected to exhibit a CAGR of 45.7% over the forecast period, owing to viral disease outbreak. According to the World Health Organization, around 464, 212 cases of coronavirus disease are reported in the European region as of April 1, 2020.
• Among disease indication, malaria segment held the largest market share in 2018, owing to increased prevalence of malaria. The World Health Organization estimated that around 228 million cases of malaria worldwide were reported globally in 2018. Highest number of cases (93%) were reported from the African region, followed by the South-east Asia region (3.4%). Furthermore, due to the outbreak of coronavirus disease, the coronavirus disease (COVID 19) segment is expected to hold dominant position in the hydroxychloroquine market in current scenario. For instance, on April 1, 2020, the World Health Organization reported that around 82,631 people are infected from the coronavirus in China.
• Among distribution channel, hospital pharmacies segment held the largest market share in 2018, owing to increased demand for hydroxychloroquine due to coronavirus outbreak. For instance, on March 20, 2020, Teva Pharmaceutical Industries Ltd. announced that over 6 million doses of hydroxychloroquine sulfate tablets will be donated immediately to hospitals across the U.S. in order to treat the patients with coronavirus.
• Companies 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.