Chloroquine Market to Witness Significant Growth During Forecast Period
Increasing use of
chloroquine for treatment of various diseases to drive growth of global
chloroquine market
According
to TechSci Research report, “Global
Chloroquine
Market By Type (Injectables, Capsules, Tablets), By Route of Administration
(Oral v/s Intravenous), By Dosage (5mg, 500mg, 1000mg), By Application
(Arthrophlogosis, Malaria, COVID-19, Others), By Region, Forecast &
Opportunities, 2030”, the global chloroquine market
is expected to grow at a formidable rate during the forecast period on account
of the growing use of the drug in treating various diseases especially as a
treatment option to treat the novel coronavirus disease. Though, it has not
been proven clinically that the drug can be used to treat coronavirus, but it
has been identified that the drug is helpful in improving the early symptoms of
the disease especially the respiratory problems. Additionally, the drug is
generic, hence potentially affordable and scalable for the treatment of various
diseases. However, associated side effects of the drug such as headache, loss
of appetite, diarrhea, hair loss, mood swings, among others are expected to
hamper the growth of the market during the forecast period.
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The global chloroquine market is segmented based on type, route of
administration, dosage, application and region. Based on type, the market can
be categorized into injectables, capsules and tablets. The tablets segment is
expected to dominate the market during forecast period since tablets are easily
available at affordable prices, durable and have a longer shelf life and are
also chewable. Additionally, tablets can accommodate high doses of active
ingredients. Moreover, the tablets can be split or broken down and then
consumed. Furthermore, these are available in various variable deliverable
forms such as quick release, delayed release, among others. Based on route of
administration, the market can be bifurcated into oral and intravenous. The
oral segment is expected to dominate the market since the drug is generally
consumed orally in the form of tablets or capsules. Based on application, the
market can be categorized into arthrophlogosis,
rheumatoid arthritis, malaria, COVID-19 and others. The COVID-19 segment is
expected to register the highest growth during forecast period since it has
been identified that the drug can be used to treat the disease, though not
proven clinically. Additionally, studies suggest that it is helpful in treating
some symptoms of the disease and is being used widely in the treatment
guidelines of COVID-19. Countries such as China, South Korea and Belgium have
added chloroquine in their coronavirus disease treatment guidelines. Also,
studies suggest that the drug has been helpful in treating few cases of the
disease in France. Clinical trials are going on rigorously, but nothing has
been proven clinically or approved by the FDA.
ARTECEF B.V., Fishman Chemical,
LLC, Uniprix Inc., Bayer AG, Abcam Inc., Recipharm, Teva Pharmaceuticals, Mylan
NV, Abbott, Novartis AG and others are some of the leading
players operating in global chloroquine market. The companies operating in the
market are using organic strategies such as product launches, mergers and
collaborations to boost their share. Recently, Mylan NV restarted the
production of chloroquine after the news of its use as a potential treatment
for novel coronavirus disease. Additionally, companies such as Bayer AG and
Teva Pharmaceuticals have donated around 3 million chloroquine tablets to the
U.S. for using it in the treatment of COVID-19.
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“Asia Pacific is expected to register
significant growth in the chloroquine market during the forecast period, owing
to the use of drug for treating various diseases in the region. Additionally,
the drug is being used in the coronavirus treatment guidelines in various
countries such as China and South Korea in the region. If it gets proven
clinically that the drug can be used for the treatment of COVID-19, then this is
expected to create lucrative opportunities for the market players over the next
few years.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Chloroquine Market By Type (Injectables,
Capsules, Tablets), By Route of Administration (Oral v/s Intravenous), By
Dosage (5mg, 500mg, 1000mg), By Application (Arthrophlogosis, Malaria, COVID-19,
Others), By Region, Forecast & Opportunities, 2030” has evaluated the future growth potential of global chloroquine
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global chloroquine market.
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