The global Hydroxychloroquine market is predicted to accrue earnings worth USD 1,405.60 million by 2032 growing at a CAGR of more than 4.68%, as per Zion Market Research. The market was valued at USD 941.1 million in 2023.

The market is predicted to register humungous growth over the coming years subject to the ability of the drug to treat various ailments like systemic lupus erythematosus, malaria, cutanea tarda, and rheumatoid arthritis. Due to its anti-viral properties, it has become highly popular across the globe for treating novel coronavirus diseases. Moreover, lancet in its report on drug use in diabetes in 2016 stated that India had approved the use of cost-effective drugs for treating diabetes in people suffering from lupus and rheumatoid arthritis. 

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Escalating Hydroxychloroquine Demand For Treating COVID-19 To Boost Market Trends

According to a reputed Nature magazine, Hydroxychloroquine, which is the less toxic derivative of chloroquine, has proved to be effective in inhibiting the SARS-CoV-2 infection in vitro in patients during clinical trials. Clinical findings have unveiled that a high proportion of cytokines were identified in the plasma of patients critically affected due to SARS-CoV-2 or novel coronavirus disease.

Moreover, it has been found that apart from its anti-viral feature, Hydroxychloroquine, which acts as a safe & anti-inflammatory agent in auto-immune disorders, can reduce cytokine production along with reducing inflammation in patients. Furthermore, Hydroxychloroquine can also mitigate the inflammatory response in COVID-19 patients.

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Novartis To Donate Hydroxychloroquine For Treating COVID-19 Patients

In a major strategic move that can boost the Hydroxychloroquine market growth, on March 20th, 2020, Novartis declared donating the drug for treating n-CoV-19. Moreover, it has committed to providing nearly 130 million 200 mg doses of the drug to support the fight against the dreaded COVID-19 disease by the end of May 2020.

Reportedly, the Sandoz unit of the pharma giant currently holds the license for drug use in the U.S. Moreover, the firm is aiding clinical trial efforts on treating novel coronavirus and is likely to assess new needs for clinical tests. The firm is also looking to raise its drug production in collaboration with other drug producers, thereby ensuring a sufficient supply of medicine for effectively treating COVID-19 patients across the globe.

Asia Pacific Market To Acquire Numero Uno Position By 2032

The regional market growth over the forecast timeframe is attributed to the huge production of the drug in India. Apart from this, countries like the U.S. and European countries have placed a demand for drugs from India. Furthermore, India can produce both the drugs as well as the API in large quantities. Additionally, China is the biggest supplier of raw materials for producing Hydroxychloroquine. Furthermore, the cost-effectiveness of the drug along with its low toxicity has resulted in heavy demand for the drug in countries like India. India and China are projected to be the major regional revenue contributors during the forecast timespan.

Furthermore, profits of India-based pharma firms such as Cadilla, Torrent Pharma, and Ipca laboratories are likely to soar over the coming years and will contribute remarkably towards the market value in the Asia Pacific zone in the coming years.

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Hydroxychloroquine Market: Competitive Analysis

The global hydroxychloroquine market is dominated by players like:

 

 

The global Hydroxychloroquine market is segmented as follows:

By Type

 

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

 

By Application

 

  • Rheumatoid Arthritis
  • Skin Lesions
  • Systemic Lupus Erythematosus
  • Chronic Discoid Lupus Erythematosus
  • Others

 

By Region

 

  • North AmericaThe U.S.Canada
  • EuropeFranceThe UKSpainGermanyItalyRest of Europe
  • Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
  • Latin AmericaBrazilMexicoRest of Latin America
  • Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa

 

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