Chloroquine & Hydroxychloroquine Market to Witness Significant Growth During Forecast Period
Increasing use of Chloroquine &
Hydroxychloroquine for treatment of various diseases to drive growth of global Chloroquine
& Hydroxychloroquine market
According
to TechSci Research report, “Global
Chloroquine
& Hydroxychloroquine Market By Type (Injectables, Tablets), By Route of
Administration (Oral v/s Intravenous), By Strength (250mg, 500mg), By Application (Rheumatoid
Arthritis, Malaria, COVID-19, Others), By Region, Forecast & Opportunities,
2030”, the global Chloroquine &
Hydroxychloroquine 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.
The global Chloroquine & Hydroxychloroquine market is segmented
based on type, route of administration, strength, application and region. Based
on type, the market can be categorized into injectables 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. Based on application, the market can be
categorized into 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 & Hydroxychloroquine
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 & Hydroxychloroquine 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 &
Hydroxychloroquine 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 &
Hydroxychloroquine 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 & Hydroxychloroquine 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 & Hydroxychloroquine Market By
Type (Injectables, Tablets), By Route of Administration (Oral v/s Intravenous),
By Strength (250mg, 500mg,), By Application (Rheumatoid Arthritis , Malaria, COVID-19,
Others), By Region, Forecast & Opportunities, 2030” has evaluated the future growth potential of global Chloroquine
& Hydroxychloroquine 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
& Hydroxychloroquine market.
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