New York, NY -- (SBWIRE) -- 02/04/2021 -- The rising geriatric population and the high demand for the drug from third world nations for dealing with malaria are boosting the Hydroxychloroquine market. 

Market Size – USD 540 Million in 2019, Market Growth - CAGR of 30.8%, Market Trends – The rising number of trails exploring the use of Hydroxychloroquine in COVID-19 treatment

The Global Hydroxychloroquine market is forecasted to reach USD 5.54 Billion by 2027, according to a new report by Reports and Data. The medication is widely used in the treatment of acute attacks of malaria, and rheumatoid arthritis, among other conditions. The fact that the medicine is a chemotherapeutic agent, which acts against erythrocytic forms of malarial parasites, is one of the major reasons for its extensive use in malaria treatment, which is in high demand in third world countries due to high incidence rate of malaria. However, with COVID-19 pandemic, the scenario in terms of demand for the medication has changed drastically, which sudden interest of nations like the U.S. on getting the medication. This sudden elevation in demand of the mediation is attributed to its demonstrated antiviral activity against (SARS–CoV-2), severe acute respiratory syndrome–coronavirus 2 in certain clinical studies.  

After the emergence of COVID-19, it was confirmed that Hydroxychloroquine exhibited antiviral activity against the novel coronavirus (SARS–CoV-2). Hydroxychloroquine, alongside common antibiotic azithromycin, has the ability to treat COVID-19. In countries like India, it can also be bought over the counter and deemed to be cheap medicines. That being said, following the outbreak of COVID-19, the purchase of the medication without prescription has been limited.

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Key participants include Hikma Pharmaceuticals PLC, Cadila Healthcare Ltd, Ipca Laboratories Ltd, Novartis AG, Mylan N.V, Sanofi S.A., Taj Pharmaceuticals Ltd., Shanghai Pharmaceuticals Holding Co., Ltd, Torrent Pharmaceuticals Ltd, Teva Pharmaceutical Industries Ltd., and Zydus Cadila.
Market Drivers

While various supportive factors encourage the growth of the industry, the adverse events associated with the use of the drug can impede the market growth over the forecast period. Currently, 70-80 nations are relying on drugs from India. As a result, the rising use of medications as a therapeutic mechanism has raised the demand. The effort of many businesses to boost supply would not only allow companies to increase their pharmaceutical output potential and contribute to current demand, and it would also boost the market growth.

Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

- Tablets
- Injection

Distribution channel Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

- Hospital pharmacy
- Online pharmacy
- Speciality drug stores
- Retail pharmacy

Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

- Malaria
- Rheumatoid arthritis
- Lupus Erythematosus
- COVID-19
- Others

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Regional Outlook

As far as the region is concerned, Asia Pacific is seen to dominate the market. The domination of the APAC region is attributed to the presence of major industry players operating in the market, the strong demand for drugs in the APAC region increases in incidences of malaria, which encourages the growth of the market in this area.

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Coverage of the Hydroxychloroquine Market:

- Insightful information regarding the global Hydroxychloroquine market
- Identification of growth in various segments and sub-segments of the Hydroxychloroquine market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations

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To summarize everything stated above, the report offers key insights into the Hydroxychloroquine market to allow the reader to gain a complete understanding of the Global Hydroxychloroquine Market through accurate estimations, a panoramic view of the market scenario, competitive landscape, factors influencing the growth of the market, driving factors, restraints, regulatory framework, growth prospects and opportunities, and factors propelling the market forward. The research study offers an in-depth view of the industry to offer a competitive edge to the reader and help them in formulating beneficial investment plans. The report provides a comprehensive overview of the market with facts relating to the past, present, and future of the Global Hydroxychloroquine Market.

Global Hydroxychloroquine Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Hydroxychloroquine Market Segmentation & Impact Analysis

Continued……….

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