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Hydroxychloroquine Drugs Market - Growth, Trends, and Forecasts (2020 - 2025)

  • ID: 5026028
  • Report
  • May 2020
  • Region: Global
  • 111 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Laurus Labs Limited,
  • Lupin
  • Mylan N.V.
  • Novartis International AG
  • Sanofi S.A.,
  • Zydus Pharmaceuticals
  • MORE
The global hydroxychloroquine drugs market studied was anticipated to grow with a CAGR of nearly 16.8% during the forecast period. Hydroxychloroquine is a safer derivative of chloroquine. Hydroxychloroquine is an immunosuppressive and anti-parasite drug indicated for the treatment or prevention of malaria, although the drug is ineffective for chloroquine-resistant malaria. Hydroxychloroquine is also recommended for autoimmune diseases such as systemic and discoid lupus erythematosus, and rheumatoid arthritis (acute and severe), when other medications fail to work or cannot be used. Broad-spectrum hydroxychloroquine drugs can be used to treat a range of viruses. According to China’s Ministry of Science and Technology, hydroxychloroquine is one of the drugs which demonstrated encouraging profile for blocking coronavirus in early clinical trials.

Recently, hydroxychloroquine has attracted attention due to its effectiveness in treating the patients with coronavirus disease (COVID 19). Reports from China demonstrated chloroquine can possibly inhibit SARS-CoV-2 in vitro. The drug showed high efficacy in treating the patients with coronavirus disease (COVID 19). Hydroxychloroquine is expected to be a promising potential treatment for the coronavirus disease (COVID 19). The U.S. Food and Drug Administration (FDA) designated hydroxychloroquine for emergency use for treating coronavirus disease (COVID 19).

Increasing demand of novel hydroxychloroquine and rising penetration of generic drugs are estimated to provide a significant boost to the market. For instance, in March 2020, Novartis International AG started the shipping of 30 million doses of hydroxychloroquine tablets to the US Department of Health and Human Services (HHS) for controlled clinical studies to evaluate the effectiveness of hydroxychloroquine in people who have tested positive for coronavirus disease (COVID 19). In addition, increasing product approval are poised to have strong market penetration due to presence of increased government funding.

Growing patient awareness regarding COVID-19 and influx of new generics in the global arena are projected to accelerate adoption of hydroxychloroquine drugs. As per the Johns Hopkins University, as of 15th April 2020, approximately 609,516 people suffered from COVID-19 in U.S. alone. Increasing awareness regarding disease remittance therapies, rising clinical trials to evaluate effectiveness of hydroxychloroquine in the treatment of COVID-19 are estimated to promote revenue growth. However, poor healthcare accessibility in low income countries may restrain the growth of the market.

Key Market Trends

Rheumatoid Arthritis Dominates the Market and is Expected to Continue to Do the Same during the Forecast Period
  • Rheumatoid arthritis is expected to dominate the global hydroxychloroquine drugs market through the forecast period. This can be attributed to the rising prevalence of rheumatoid arthritis which causes different symptoms such as joint pain, swelling, and stiffness, which are generally accompanied by chronic pain and inability to perform daily activities. Over a prolonged period, this disorder can hamper a patient’s mobility and can lead to permanent joint damage. If left untreated, this disorder can lead to mobility impairment and the risk of joint replacement.
  • According to the World Health Organization, more than 23 million people live with rheumatoid arthritis. Thus, the rheumatoid arthritis segment is witnessing a shift toward combination therapies that provide enhanced results to patients. Higher availability, positive results, and low price of generic drugs for the target disease are supplementing the growth of the segment.
  • Moreover, COVID-19 is estimated to be the fastest-growing segment over the forecast period. Exponentially increasing cases worldwide is the major factor expected to drive the vertical over the forecast period. The World Health Organization declared coronavirus disease (COVID 19) as a pandemic on March 11, 2020. As per the Johns Hopkins University, till the date 15th April, COVID-19 is responsible for more than 126,859 deaths worldwide. Hydroxychloroquine is expected to be a promising potential treatment for the coronavirus disease (COVID 19). The U.S. Food and Drug Administration (FDA) designated hydroxychloroquine for emergency use for treating coronavirus disease (COVID 19). All the aforementioned factors expected to bode a well for this vertical.
North America Represents the Largest Market and Asia-Pacific is Expected to Register Fastest Growth.

North America is at the forefront of growth in the region and is also an important revenue contributor in the global arena. Heightened awareness of disease remittance therapies among patients, rising prevalence of RA and COVID-19, and high public and private healthcare spending are stimulating the growth of the region. Moreover, the World Health Organization estimates that by the end of 2040, 54.4 million adults in the country may suffer from rheumatoid arthritis. Moreover, easy access to quality healthcare, favorable reimbursement policies, strong clinical pipeline, and approval of novel drugs are projected to promote revenue growth in North America.

Asia Pacific is likely to post the fastest market throughout the forecast horizon. Lack of disease awareness in some underdeveloped regions is leading to expanding base of patients in the region. This coupled with increasing healthcare spending, presence of key manufacturer such as Zydus Cadila, Novartis and Sun Pharmaceuticals and growing product approval is expected to propel the market in APAC. Increasing demand for target drug for disease reversal is poised to augment the regional markets during the forecast period.

Competitive Landscape

Manufacturers offering generic versions dominate the global hydroxychloroquine drugs market. Companies are focusing on building generic chemical entities and innovative molecules to consolidate their foothold. Some of the prominent market participants are DR. REDDY'S LABORATORIES LTD., Laurus Labs Limited, Lupin, Mylan N.V., Novartis International AG, Sanofi S.A., Sun Pharmaceutical Industries Ltd., Teva Pharmaceuticals USA, Inc., Zydus Pharmaceuticals.

Introduction of generic versions and strong clinical pipeline is anticipated to increase competition in the market. For instance, in April 2020, Zydus Cadila and Ipca Labs have backward integrated HCQ making capability with an aim of to increase production capacity by 5-6 times to 70 MT per month thereby, expanding the range of treatment options for the millions of patients living with target diseases.

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FEATURED COMPANIES

  • Laurus Labs Limited,
  • Lupin
  • Mylan N.V.
  • Novartis International AG
  • Sanofi S.A.,
  • Zydus Pharmaceuticals
  • MORE
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Disease Outbreaks Such As Coronavirus Disease (COVID 19)
4.2.2 High prevalence of Malaria and Rheumatoid Arthritis
4.2.3 Increasing Product Launches and Approvals
4.2.4 Expanding Application of Hydroxychloroquine in Various Therapeutic Conditions
4.3 Market Restraints
4.3.1 Global Shortage of Hydroxychloroquine
4.3.2 Poor Healthcare Accessibility in Low Income Countries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Coronavirus Disease (COVID-19)
5.1.2 Malaria
5.1.3 Lupus Erythematosus
5.1.4 Rheumatoid Arthritis
5.2 By distribution Channel
5.2.1 Online Pharmacy
5.2.2 Hospital Pharmacy
5.2.3 Retail Pharmacy
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 DR. REDDY'S LABORATORIES LTD.
6.1.2 Laurus Labs Limited,
6.1.3 Lupin
6.1.4 Mylan N.V.
6.1.5 Novartis International AG
6.1.6 Sanofi S.A.,
6.1.7 Sun Pharmaceutical Industries Ltd.
6.1.8 Teva Pharmaceuticals USA, Inc.
6.1.9 Zydus Pharmaceuticals

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • DR. REDDY'S LABORATORIES LTD.
  • Laurus Labs Limited,
  • Lupin
  • Mylan N.V.
  • Novartis International AG
  • Sanofi S.A.,
  • Sun Pharmaceutical Industries Ltd.
  • Teva Pharmaceuticals USA, Inc.
  • Zydus Pharmaceuticals
Note: Product cover images may vary from those shown
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