Increasing Burden of Malaria Providing Traction to Anti-malarial Hydroxychloroquine Drug Consumption | Fact.MR

Hydroxychloroquine Market Size Trend Analysis & Competition Tracking By Drug Type (Anti-malarial Hydroxychloroquine Drug, Anti-rheumatic Hydroxychloroquine Drug, Lupus Suppressant Hydroxychloroquine Drug, Anti COVID 19 Hydroxychloroquine Drug)- Global Review 2021 to 2031

In the wake of the worsening coronavirus pandemic, hydroxychloroquine has been touted as a key drug in the treatment and eradication of COVID-19. As a result, the demand for hydroxychloroquine has skyrocketed in the past few weeks. The United States alone has generated significant demand for 20 million hydroxychloroquine pills, amounting to 4 tons. Moreover, the global demand for hydroxychloroquine is anticipated to surge amid the rapidly increasing COVID-19 infections. In 2020, from January to April, India has exported hydroxychloroquine API (active pharmaceutical ingredient) worth US$ 1.2 Bn. Attributed to above-mentioned facts global hydroxychloroquine market is estimated to experience a year on year growth of over 100% by the end of 2020.

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Key Takeaways of Hydroxychloroquine Market Study

• Due to skyrocketing demand for hydroxychloroquine, the global hydroxychloroquine market is expected to create a value opportunity of around US$ 2.3 Bn by the end of 2020.
• The coronavirus pandemic has spiked the prices of API (active pharmaceutical ingredients) which is set to increase the market value by 2X through 2020.
• Based on drug type, anti-rheumatic drug has dominated the consumption of hydroxychloroquine in 2018 and is poised to account for nearly half of the market share by 2030.
• Due to the high prevalence of rheumatoid arthritis and systemic lupus erythematosus, United Stated is projected to remain a highly lucrative region during the forecast period.
• In terms of production, currently, India accounted for nearly half of the global production in 2019.

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Hydroxychloroquine Market: Segmentation

Fact.MR has segmented the hydroxychloroquine market on the basis of drug type, and region.

Drug Type

• Anti-malarial Drug
• Anti-rheumatic Drug
• Lupus Suppressant Drug
• Anti COVID 19 Drug
• Others

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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Key Points Addressed in Hydroxychloroquine Industry Analysis

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Hydroxychloroquine and How to Navigate
• Recommendation on Key Winning Strategies

Capacity Expansions to Meet the Skyrocketing Demand for Hydroxychloroquine

The players of hydroxychloroquine include Abcam plc, Advanz Pharma, Amneal Pharmaceuticals Inc, Bayer AG, Dr Reddy’s Lab, Ipca Laboratories Ltd., Laurus Labs and Mylan. In order to meet the increasing demand of hydroxychloroquine tablets, market goliaths have increased their production capabilities. Companies like Amneal Pharmaceuticals Inc, Bayer AG, Dr Reddy’s Lab, Ipca Laboratories Ltd, Zydus Cadila and Mylan have expanded their production capacities to meet the increasing the demand of hydroxychloroquine. Market titans have also decided to ramp up their production capacities further if demand increases in the upcoming months. Companies like Zydus Cadila, Ipca laboratories ltd and Sino-Western Pharmaceutical are able to ramp their production capacities to over 500 tons per year. However, burgeoning demand has almost doubled the prices of hydroxychloroquine active pharmaceutical ingredients. This scenario is poised to continue till the pandemic abates.

Competitive Landscape

Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are eco-friendly by nature.

•  In April 2021, Apotex, Canada's largest pharmaceutical company, received a contract from the Government of Canada to supply the Critical Drug Reserve of Dexamethasone tablets in response to the COVID-19 pandemic.
• In April 2020, Novartis announced its plans to donate 130 million doses of generic hydroxychloroquine, a drug that may be used in COVID-19. As part of its commitment, Novartis established a US$ 20 million fund to support impacted communities, collaborative drug discovery efforts, and support for clinical trials for its existing medicines.

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