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Hydroxychloroquine Market Size, Shares and Analysis, Trends with Top Most Key Players- Novartis International AG, Mylan N.V., Wallace Pharmaceuticals Ltd., Sanofi S.A., Teva Pharmaceutical Industries Ltd., Bayer AG, Zydus Cadila Ltd., Ipca Laboratories Ltd., Cipla Limited, and Lupin Limited.

Covina, United States: Global Hydroxychloroquine Market, By Disease Type (Coronavirus Disease (COVID-19), Malaria, Q Fever, Rheumatoid Arthritis, Lupus Erythematosus, Porphyria Cutanea Tarda (PCT), and Other Disease Types), By Distribution Channel (Specialty Drug Store, Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029

Hydroxychloroquine Market Outlook

  • Market Value 2019: US$ 1.6 Bn
  • Market Value Estimation 2029: US$ 2.7 Bn
  • CAGR: 5.3%

The drug Hydroxychloroquine (HCQ), also known as hydroxychloroquine sulphate, is marketed under the trade names Axemal, Plaquenil, Dolquine, Quensyl, Hydroquin, Quinoric, and Quineprox. It is a medication used largely to prevent and cure malaria, which is brought on by the Anopheles mosquito genus. Additionally, rheumatoid arthritis, lupus, Q fever, porphyria cutanea tarda, and COVID-19 are all conditions that are treated with hydroxychloroquine. Orally administered, this medication may have certain undesirable side effects, and it can only be purchased with a legitimate prescription. Rheumatic illness during pregnancy must be treated with hydroxychloroquine. It belongs to a group of pharmaceuticals known as disease-modifying antirheumatic drugs (DMARDs) and antimalarial drugs that contain quinolines. Additionally, it can lessen skin issues in those with systemic lupus erythematosus and stop discomfort or swelling in arthritis patients.

Top News relating to Industry, Innovation:

  • In March 2020 – Novartis announced its commitment to donate up to 130 million doses of generic hydroxychloroquine to support the global COVID-19 pandemic response. Hydroxychloroquine and a related drug, chloroquine, are currently under evaluation in clinical trials for the treatment of COVID-19. Novartis is supporting ongoing clinical trial efforts and will evaluate the needs for additional clinical trials.
  • In March 2020 – Mylan N.V. has ramped up its U.S. manufacturing of hydroxychloroquine sulfate tablets to meet potential COVID-19 patient needs. Mylan’s hydroxychloroquine sulfate tablets are approved by the U.S. Food and Drug Administration (FDA) for the treatment of malaria, rheumatoid arthritis, and lupus erythematosus. Although the product is not currently approved for use in the treatment of COVID-19, it is listed by the World Health Organization as a drug under investigation for efficacy against the coronavirus.

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Key Segmentation of the Hydroxychloroquine market:          

Global Hydroxychloroquine Market accounted for US$ 1.6 billion in 2019 and is estimated to be US$ 2.7 billion by 2029 and is anticipated to register a CAGR of 5.3%. The market report has been segmented on the basis of disease type, distribution channel, and region.

  • By disease type, the coronavirus disease segment is expected to register for the majority revenue share in the global hydroxychloroquine market due to growing cases of COVID-19 pandemic worldwide.
  • By distribution channel, the hospital pharmacy segment is projected to witness major revenue share in the global market due to rising demand for HCQ to treat COVID-19 patients and the growing prevalence of malaria, particularly in some emerging economies.
  • By region, North America followed by Canada, Mexico, and the U.S. is expected to register substantial gains by 2026. Rising coronavirus cases and a large number of clinical trials will lead to increased consumption of the product in the region, thus propelling the hydroxychloroquine market.

The Hydroxychloroquine Market Report mentions the following promising regions:

  • North America – U.S., Canada
  • Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
  • Latin America – Brazil, Mexico, Argentina, Rest of Latin America
  • Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

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Top-tier significant players:

The prominent player operating in the global Hydroxychloroquine market includes Philip Morris International, Healthier Choices Management Corp (Ruthless Vapor Corp), MCIG Inc., ITC Limited, Altria Group Inc., British American Tobacco plc, Japan Tobacco, Inc., J WELL France, and Imperial Tobacco Group.

Premium Report offers:

  • Assessments of market share for the regional and national segments
  • A description of the business, including its goals, finances, and most recent advancements.
  • In addition to a comprehensive analysis of market share, the report contains data on significant drivers, restraints, and opportunities.
  • The market power of consumers and suppliers is demonstrated via Porter’s five forces study.

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