The global hydroxychloroquine market size was valued at $1.9 billion in 2019, and is anticipated to generate $4.6 billion by 2027. The market is projected to experience growth at a CAGR of 7.9% from 2020 to 2027.
Hydroxychloroquine, and anti-malarial drug, when combined with chloroquine has the potential to be the major game-changer in the medical history. In certain small and vitro, uncontrolled or poorly controlled clinical studies, it demonstrated antiviral activity against (SARS–CoV-2) severe acute respiratory syndrome–coronavirus-2. Such researches are considered as hypothesis. However, followed by the tweet of President Trump, it completely changed the scenario of the market, with reports of shortages of the medicine in pharmacies within 24 hours. Amidst the outbreak, certain nations such as the U.S. and India are endorsing its use as preventive measures for COVID-19.
The growth of the global hydroxychloroquine market is drive by surge in demand for the medication, which led to hike in production of the drug by the Indian Government. IPCA Laboratories, which have approximately 70% of the market share in this sector in India, has increased its production tenfold. However, the nationwide lockdown acted as a hindrance for growth of the global market. In addition, disruption in logistic chains and less availability of raw materials, which are mostly scoured from China have restrained the market growth. With the initiation of normal operation in China after the lockdown and backward integration of some industry players have helped the market to cope up to a certain extent.
In April 2019, IPCA Laboratories signed a contract to acquire Maharashtra-based Ramdev Chemical Pvt. Ltd. According to the contract, IPCA Laboratories is supposed to buy the company, which is associated with the marketing and manufacturing of advanced drug intermediates, active pharmaceutical ingredients (APIs), custom synthesis molecules, and fine chemicals. Thus, this initiative by IPCA Laboratories will help the company in increasing the production capacity of the drug and contribute in meeting the present demand.
On March 25 2020, the Indian Government imposed a ban on export of the drug to ensure that the nation had adequate stock of the medication to meet domestic needs. However, later the government decided to lift the ban partially. The SAARC nations along with other 30 nations and the U.S. and West Asia proposed India to lift the ban on export. Considering the high demand for the medication, pharmaceutical companies in the nation have planned to increase the production by 5 to 6 times to over 70 metric tons by May 2020. Apart from IPCA Laboratories Ltd., Zydus Cadila and Wallace Pharmaceuticals are some of the other leading manufacturers of hydroxychloroquine.
The global hydroxychloroquine market is segmented into product type, distribution channel, disease, and region. On the basis of product type, the market is bifurcated into tablet and active pharmaceutical ingredients. Depending on distribution channel, the market is fragmented into hospital pharmacy, online pharmacy, specialty drug store, and retail pharmacy. The diseases covered in the study include malaria, rheumatoid arthritis, lupus erythematosus, coronavirus, and others. Region wise, the hydroxychloroquine market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the hydroxychloroquine market are Cadila Healthcare Ltd., Hikma Pharmaceuticals PLC, Ipca Laboratories Ltd., Mylan N.V., Novartis AG, Pfizer Inc., Sanofi S.A., Taj Pharmaceuticals Ltd., Teva Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd., and Zydus Cadila. The companies have focused on various strategies such as new product launches, partnerships, acquisitions, and mergers for retaining their existing customer base and further increase their market share.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Product type
By Distribution Channel
By Disease
By Region
KEY PLAYERS
Hydroxychloroquine, and anti-malarial drug, when combined with chloroquine has the potential to be the major game-changer in the medical history. In certain small and vitro, uncontrolled or poorly controlled clinical studies, it demonstrated antiviral activity against (SARS–CoV-2) severe acute respiratory syndrome–coronavirus-2. Such researches are considered as hypothesis. However, followed by the tweet of President Trump, it completely changed the scenario of the market, with reports of shortages of the medicine in pharmacies within 24 hours. Amidst the outbreak, certain nations such as the U.S. and India are endorsing its use as preventive measures for COVID-19.
The growth of the global hydroxychloroquine market is drive by surge in demand for the medication, which led to hike in production of the drug by the Indian Government. IPCA Laboratories, which have approximately 70% of the market share in this sector in India, has increased its production tenfold. However, the nationwide lockdown acted as a hindrance for growth of the global market. In addition, disruption in logistic chains and less availability of raw materials, which are mostly scoured from China have restrained the market growth. With the initiation of normal operation in China after the lockdown and backward integration of some industry players have helped the market to cope up to a certain extent.
In April 2019, IPCA Laboratories signed a contract to acquire Maharashtra-based Ramdev Chemical Pvt. Ltd. According to the contract, IPCA Laboratories is supposed to buy the company, which is associated with the marketing and manufacturing of advanced drug intermediates, active pharmaceutical ingredients (APIs), custom synthesis molecules, and fine chemicals. Thus, this initiative by IPCA Laboratories will help the company in increasing the production capacity of the drug and contribute in meeting the present demand.
On March 25 2020, the Indian Government imposed a ban on export of the drug to ensure that the nation had adequate stock of the medication to meet domestic needs. However, later the government decided to lift the ban partially. The SAARC nations along with other 30 nations and the U.S. and West Asia proposed India to lift the ban on export. Considering the high demand for the medication, pharmaceutical companies in the nation have planned to increase the production by 5 to 6 times to over 70 metric tons by May 2020. Apart from IPCA Laboratories Ltd., Zydus Cadila and Wallace Pharmaceuticals are some of the other leading manufacturers of hydroxychloroquine.
The global hydroxychloroquine market is segmented into product type, distribution channel, disease, and region. On the basis of product type, the market is bifurcated into tablet and active pharmaceutical ingredients. Depending on distribution channel, the market is fragmented into hospital pharmacy, online pharmacy, specialty drug store, and retail pharmacy. The diseases covered in the study include malaria, rheumatoid arthritis, lupus erythematosus, coronavirus, and others. Region wise, the hydroxychloroquine market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the hydroxychloroquine market are Cadila Healthcare Ltd., Hikma Pharmaceuticals PLC, Ipca Laboratories Ltd., Mylan N.V., Novartis AG, Pfizer Inc., Sanofi S.A., Taj Pharmaceuticals Ltd., Teva Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd., and Zydus Cadila. The companies have focused on various strategies such as new product launches, partnerships, acquisitions, and mergers for retaining their existing customer base and further increase their market share.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the hydroxychloroquine market from 2019 to 2027 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict hydroxychloroquine market growth is provided.
- The hydroxychloroquine market forecast and estimations are based on factors impacting the market growth, in terms of value.
- Profiles of leading players operating in the hydroxychloroquine market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market share.
KEY MARKET SEGMENTS
By Product type
- Tablet
- Active Pharmaceutical Ingredients
By Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Specialty Drug Store
- Retail Pharmacy
By Disease
- Malaria
- Rheumatoid Arthritis
- Lupus Erythematosus
- Coronavirus
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
KEY PLAYERS
- Cadila Healthcare Ltd
- Hikma Pharmaceuticals PLC
- Ipca Laboratories Ltd
- Mylan N.V
- Novartis AG
- Pfizer Inc.
- Sanofi S.A.
- Taj Pharmaceuticals Ltd.
- Teva Pharmaceutical Industries Ltd.
- Torrent Pharmaceuticals Ltd
- Zydus Cadila
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Hydroxychloroquine Market, by Product Type
Chapter 5: Hydroxychloroquine Market, by Distribution Channel
Chapter 6: Hydroxychloroquine Market, by Diseases
Chapter 7: Hydroxychloroquine Market, by Region
Chapter 8: Company Profiles:
List of Tables
List of Figures
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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