Hydroxychloroquine Sulphate Market Rise in the number of disease awareness programs especially in the developing countries, and development of effective combination drug therapies to treat malaria and other chronic diseases drives the market growth.
Hydroxychloroquine Sulphate Market is expected to grow with the CAGR of 40.37% over the forecast period.
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Scope of Hydroxychloroquine Sulphate Market-
Hydroxychloroquine Sulphate(also known as hydroxychloroquine) is an antimalarial medicine to treat malaria caused by mosquito bites. This medication is also used to treat certain auto-immune diseases (lupus erythematosus, rheumatoid arthritis). It belongs to a class of medication known as disease-modifying antirheumatic drugs (DMARDs). It can reduce skin problems in lupus and prevent swelling/pain in arthritis. The dosage and length of treatment for hydroxychloroquine sulphate are based on patient’s medical condition and response to treatment. In children, dosage is also based on weight. Moreover, hydroxychloroquine sulphate is a synthetic derivative of quinolyl with chemotherapeutic and antibiotic properties which acts against erythrocytic malarial parasites (Plasmodium vivax, ovale and malariae) by concentrating in food vacuoles. The FDA approved hydroxychloroquine in April 1955. Hydroxychloroquine sulfate is sold in the brand name of Plaquenil, Hydroquin, Axemal (in India), Dolquine, Quensyl and Quinoric.
Global Hydroxychloroquine Sulphatemarket report is segmented on the basis of product type, disease indicationand by regional & country level.Based uponproduct type, hydroxychloroquine sulphatemarket is classified intoUSP standards grade, EP standards grade, pharmaceutical standards grade and others. Based upon disease indication,hydroxychloroquine sulphatemarket is classified intorheumatoid arthritis, coronavirus disease (COVID 19), adolescent chronic joint, discoid and systemic lupus erythematous andmalaria.
The regions covered in this hydroxychloroquine sulphatemarket report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of hydroxychloroquine sulphate is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players Hydroxychloroquine SulphateMarket Report-
Global Hydroxychloroquine Sulphatemarket report covers prominent playerslike Sanofi, H-QYN, Mylan, TAJ Pharma, MAAN Medex, Cinkate, Concordia Healthcare, Shanghai Zhongxisanwei, Shenhua Pharm, Wuhan Wuyao Pharmaceutial and others.
Mylan Ramps Up U.S. Manufacturing of Hydroxychloroquine Sulfate Tablets to Meet Potential COVID-19 Patient Needs.
March 19th, 2020; Mylan N.V. announced its continued commitment to do its part in support of public health needs amidst the evolving COVID-19 pandemic. The company continues to focus its efforts on protecting its employees, producing critically needed medications, and turning its scientific and operational expertise towards identifying additional ways company may be able to assist in the massive prevention, diagnosis and treatment efforts needed to counter the spread of COVID-19.For example, in the immediate term, Mylan has restarted production of hydroxychloroquine sulfate tablets at its West Virginia manufacturing facility in the U.S. to meet the potential for increased demand resulting from potential effectiveness of the product in treating COVID-19. Mylan’s hydroxychloroquine sulfate tablets are approved by the U.S. Food and Drug Administration (FDA) for the treatment of malaria, lupus erythematosus and rheumatoid arthritis. 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.
Global Hydroxychloroquine Sulphate Market Dynamics–
Rising prevalence of chronic diseases worldwide, growing demand for malaria diagnostics and introduction of novel diagnostics techniques are the key factors driving the growth of the market. Additionally, the tropical disease caused by female Anopheles mosquito, infected by the Plasmodium species caused over 4,35,000 deaths globally in 2017, as stated by the World Health Organization (WHO). Figures from the same source specify that over 219 million cases of malaria were recorded globally, with over 92% cases being reported from Africa, 6% from South East Asia, and 2% from the Eastern Mediterranean regions. Thus, rising disease prevalence is also anticipated to boost the market growth in future. Also, favorable government policies towards hydroxychloroquine sulfate tablet boost the market demand. However, the drug has some serious side effects such as headache, drowsiness, visual disturbances, cardiovascular collapse which may hinders the market growth.
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Global Hydroxychloroquine SulphateMarket Regional Analysis–
North America is dominating the hydroxychloroquine sulphatemarket with the potential rate in terms of revenue due to wide range research and development activities and early adoption of new technologies in the region. In addition,presence of key players in hydroxychloroquine sulphatemanufacturing and favorable government policies towards hydroxychloroquine sulfate tablet boost the market demand in this region. For example; on March28th, 2020, the US Food and Drug Administration (FDA) delivered an emergency use authorization (EUA) to permit hydroxychloroquine sulfate and chloroquine phosphate products donated to the Strategic National Stockpile (SNS) to be distributed and used for certain people who are hospitalized with corona virus.
Asia Pacific is the second largest market for hydroxychloroquine sulphate, as south and south east Asia have high cases of malaria than western regions and many pharma companies are actively involved in manufacture of generic hydroxychloroquine drug especially in China and India.
Europe is projected to be the third largest market in the global hydroxychloroquine sulphate due to rising chronic diseases among older population and implementation of high healthcare concerns by government in the region. For instance, on March 17th, 2020, the AIFA Scientific Technical Commission of the Italian Medicines Agency stated a favorable opinion on including the off-label use of hydroxychloroquine sulphate for the treatment of COVID-19.
Key Benefits for Hydroxychloroquine SulphateMarket Report–
- Global Market report covers in depth historical and forecast analysis.
- Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global Market report helps to identify opportunities in market place.
- Global Market report covers extensive analysis of emerging trends and competitive landscape.
Hydroxychloroquine SulphateMarket Segmentation:–
By Product Type:
- USP Standards Grade
- EP Standards Grade
- Pharmaceutical Standards Grade
By Disease Indication:
- Rheumatoid Arthritis
- Coronavirus Disease (COVID 19)
- Adolescent Chronic Joint
- Discoid and Systemic Lupus Erythematous
By Regional & Country Analysis:
- North America
- Asia Pacific
- Southeast Asia
- South America
- The Middle East and Africa
- Rest of Middle East and Africa
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