Hydroxychloroquine Market Analysis

Global Hydroxychloroquine Market Overview

The Hydroxychloroquine Market Size was valued at USD 0.1 Billion in 2022 and is projected to grow from USD 0.13 Billion in 2023 to USD 0.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 26.90% during the forecast period (2024 - 2032).A rise in the number of new products being released and approved, disease outbreaks like the coronavirus disease (COVID-19), high rates of malaria and rheumatoid arthritis and, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hydroxychloroquine Market Trends

• Surge in the spread of the COVID-19 globally is driving the market growth

The new coronavirus is believed to be responsible for 2 million COVID-19 active cases as of April 2020, along with an estimated 126,758 related deaths. The WHO classified COVID-19 to be a pandemic in March 2020. Healthcare regulators have been forced to approve other pharmaceuticals for illness control and management because there is no specific therapeutic therapy for COVID-19 on the market, and the vaccination will take longer than 18 months to reach the market. Hydroxychloroquine demonstrated one such promise. In several studies, the medication was administered to COVID-19 patients in China, France, and the United States. The outcomes of patients who received this medication showed promise. This prompted the U.S. FDA to grant the medication Emergency Use Authorization (EUA) in oral formulation for COVID-19 patients. This increase in demand is anticipated to support hydroxychloroquine's market expansion.

In Asia Pacific's emerging nations, there has been an upsurge in the prevalence of malaria over the past few years. According to estimates, India has the most malaria cases in the area. One of the most popular medications in the nation for treating malaria is hydroxychloroquine. According to information from the World Malaria Report 2019, 6 million people in India alone had malaria diagnoses. The World Health Organisation (WHO) estimates that 228 million people worldwide contracted malaria in 2018. In addition, the spread of malaria in developing and underdeveloped nations has been accelerated by mosquitoes that are resistant to pesticides. This industry is expected to expand favourably during the forecast period despite the rise in malaria cases and pesticide resistance among vectors.

It is predicted that the market would experience significant growth due to increased generic medicine penetration and rising demand for new hydroxychloroquine. Additionally, higher product approval is anticipated to have a significant impact on the industry thanks to increased government spending. The influx of new generic pharmaceuticals and rising patient knowledge of COVID-19 are expected to hasten the uptake of hydroxychloroquine medications. According to Johns Hopkins University, as of April 15, 2020, only the US had 609,516 cases with COVID-19. Revenue growth is anticipated to be aided by rising clinical trials to assess the efficacy of hydroxychloroquine in the treatment of COVID-19 and growing awareness of disease remittance therapies. Thus, driving the Hydroxychloroquine market revenue.

Hydroxychloroquine Market Segment Insights

Hydroxychloroquine Application Insights

The market segments of Hydroxychloroquine, based on application, includes rheumatoid arthritis, COVID-19, malaria, lupus erythematosus, Q-fever, and porphyria cutnea tarda (PCT). Rheumatoid arthritis segment dominated the market in 2022. This can be due to the increased incidence of rheumatoid arthritis, which produces a variety of symptoms including stiffness, swelling, and joint discomfort that are typically accompanied by chronic pain and the incapacity to carry out everyday tasks. This condition can impair a patient's mobility over time and result in irreversible joint injury. If this disorder is not addressed, it may decrease mobility and increase the chance of requiring joint replacement.

The World Health Organisation estimates that more than 23 million individuals worldwide suffer from rheumatoid arthritis. As a result, patients are getting better benefits from combination medicines in the rheumatoid arthritis market. Generic medications for the target disease are becoming more readily available, showing promising outcomes, and being less expensive, which are supporting the segment's growth.

Hydroxychloroquine Strength Insights

The market segmentation of Hydroxychloroquine, based on Strength, includes 500 mg, 200 mg and others. The 500 mg segment dominated the market in 2022.The COVID-19 disease medicine, 500 mg, is used to treat severe forms of the condition. It is anticipated that this medication will become more popular. Additionally, the 200 mg medications are used to treat coronavirus, lupus erythematosus, malaria, and rheumatoid arthritis.

Figure 1: Hydroxychloroquine Market, by Strength, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hydroxychloroquine Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Hydroxychloroquine market dominated this market in 2022 (45.80%). Due to a lack of disease awareness in some developing nations, the number of sufferers is rising in such nations. This, together with increased healthcare spending, the presence of significant manufacturers like Zydus, Cadila, Novartis, and Sun Pharmaceuticals, and an increase in product approvals, are all expected to boost the market in APAC. During the projected period, the regional markets are expected to grow due to the rising need for target drugs for disease reversal. Moreover, China’s market of Hydroxychloroquine held the largest market share, and the Indian market of Hydroxychloroquine was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: HYDROXYCHLOROQUINE MARKET SHARE BY REGION 2022 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North America Hydroxychloroquine Market is expected to register significant growth from 2024 to 2032. The region is expanding as a result of increased patient awareness of disease remitted therapy, an increase in the prevalence of RA and COVID-19, and high public and private healthcare spending. Furthermore, the World Health Organisation predicts that 54.4 million adults in the nation may have rheumatoid arthritis by the end of 2040. Additionally, it is anticipated that simple access to high-quality healthcare, kind reimbursement systems, a robust trial pipeline, and the approval of innovative pharmaceuticals will support revenue growth in North America. Further, the U.S. market of Hydroxychloroquine held the largest market share, and the Canada market of Hydroxychloroquine was the fastest growing market in the North America region.

Europe Hydroxychloroquine market accounted for the healthy market share in 2022. The market in Europe is anticipated to grow as a result of government restrictions, the availability of large-scale research facilities, and medication safety awareness.Further, the German market of Hydroxychloroquine held the largest market share, and the U.K market of Hydroxychloroquine was the fastest growing market in the European region.

Hydroxychloroquine Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the market of Hydroxychloroquine, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Hydroxychloroquine Industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Hydroxychloroquine Industry to benefit clients and increase the market sector. In recent years, the Hydroxychloroquine Industry has offered some of the most significant advantages to medicine. Major players in the Hydroxychloroquine market, including Sanofi S.A., Teva Pharmaceutical Industries Ltd., Zydus Cadila, Mylan N.V., Novartis International AG, Hikma Pharmaceuticals, Ipca Laboratories, Apotex Corporation, Cipla, Wallace Pharmaceuticals, Covis Pharmaceuticals Ltd., Lupin Pharmaceutical, McW Healthcare, Intas Pharmaceuticals, Macleods Pharmaceuticals, Hanlim Pharmaceutical, Concordia Healthcare, Taj Pharmaceuticals, Laurus Labs Limited, Shanghai Pharmaceuticals Holding, and Kyung Poong, are attempting to increase market demand by investing in research and development operations.

An integrated healthcare provider, Zydus Lifesciences Ltd. (Zydus Lifesciences) formerly known as Cadila Healthcare Ltd. It finds, creates, produces, and markets a range of medical items. Active pharmaceutical ingredients (APIs), formulations, wellness, and animal health products are all part of the company's product line. Products from Zydus Lifesciences are used to treat illnesses in a variety of therapeutic fields, including women's health, neurology, pain management, cancer, cardiovascular disease, and inflammation. It carries out studies to create vaccines, biologics, biosimilars, and novel chemical entities. The business has production facilities in Brazil, the US, Goa, Maharashtra, Sikkim, and Himachal Pradesh in India. In addition to other emerging markets, it is present in the US, Europe, South Africa, Japan, and Brazil. The headquarters of Zydus Lifesciences are located in Ahmedabad, Gujarat, India. With the goal of increasing manufacturing capacity by 5–6 times to 70 MT per month by April 2020, Zydus Cadila and Ipca Labs have backward integrated HCQ making capability. This will increase the therapeutic options available to the millions of people who suffer from target diseases.

A healthcare firm called Novartis AG (Novartis) specialises in the development, production, and marketing of prescription and over-the-counter medicines, as well as products for eye care. In addition to others, it offers medicines for the treatment of solid tumours, immunological disorders, infections, cardiovascular illness, dermatological issues, neurological disorders, ophthalmic and respiratory diseases, cancer, and neurological disorders. Through Sandoz, the business provides biosimilars and generic medications. Through the Novartis Institutes for BioMedical Research (NIBR), Novartis carries out research in a number of disease-related fields. In the Americas, Europe, the Middle East, Africa, and Asia-Pacific, the corporation has a network of subsidiaries and offices. Basel, Switzerland serves as the headquarters of Novartis. For controlled clinical studies to assess the efficacy of hydroxychloroquine in individuals who have tested positive for coronavirus disease (COVID 19), Novartis International AG began shipping 30 million doses of hydroxychloroquine tablets to the US Department of Health and Human Services (HHS) in March 2020.

Key Companies in the market of Hydroxychloroquine include

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  Sanofi S.A.

  
  


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  Teva Pharmaceutical Industries Ltd.

  
  


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  Zydus Cadila

  
  


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  Mylan N.V.

  
  


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  Novartis International AG

  
  


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  Hikma Pharmaceuticals

  
  


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  Ipca Laboratories

  
  


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  Apotex Corporation

  
  


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  Cipla

  
  


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  Wallace Pharmaceuticals

  
  


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  Covis Pharmaceuticals Ltd.

  
  


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  Lupin Pharmaceutical

  
  


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  McW Healthcare

  
  


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  Intas Pharmaceuticals

  
  


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  Macleods Pharmaceuticals

  
  


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  Hanlim Pharmaceutical

  
  


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  Concordia Healthcare

  
  


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  Taj Pharmaceuticals

  
  


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  Laurus Labs Limited

  
  


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  Shanghai Pharmaceuticals Holding

  
  


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  Kyung Poong

  
  

Hydroxychloroquine Industry Developments

June 2021:A prominent creator and producer of GMP-grade human induced pluripotent stem cells, RheinCell Therapeutics GmbH, will be acquired by Catalent, Inc., according to the company's announcement. The company's current stem cell therapy process development and production capabilities will benefit from this purchase.

December 2020:In order to increase the manufacturing capacity for efficient production and manufacturing of voclosporin, Lonza stated that they have expanded their relationship with Aurinia Pharmaceuticals.

Hydroxychloroquine Market Segmentation

Hydroxychloroquine Application Outlook

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  Rheumatoid Arthritis

  
  


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   COVID-19

  
  


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  Malaria

  
  


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  Lupus Erythematosus

  
  


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  Q-fever

  
  


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  Porphyria Cutnea Tarda (PCT)

  
  

Hydroxychloroquine Strength Outlook

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  500 mg

  
  


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  200 mg

  
  


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  Others

  
  

Hydroxychloroquine Regional Outlook

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  North America

  
  

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    US

    
    
  
  
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    Canada

    
    
  
  
  
  

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  Europe

  
  

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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America