Hydroxychloroquine and Chloroquine Market to more than Double in 2020
Increase in prevalence of COVID-19 to drive demand for
hydroxychloroquine and chloroquine across the globe
According
to TechSci Research report, “Global
Hydroxychloroquine
and Chloroquine Market By Type, By Route of Administration, By Strength, By
Application, By Region, Competition, Forecast & Opportunities, 2030”, the global hydroxychloroquine and chloroquine market is projected
to reach $ 285 million in 2020, predominantly on account of rising use of the
drug in treating novel coronavirus COVID-19. Though, it has not been proven
clinically that the drug can be used in treating coronavirus, but it has been
identified that the drug is helpful in improving the early symptoms of the
disease, especially the respiratory problems. Globally,
Ipca and Cadila are among the top manufacturers of these drugs.
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The global hydroxychloroquine and chloroquine market are 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 the forecast period since
these are cost effective. 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 clinically proven. 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 hydroxychloroquine and 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. Due to rising spread of the pandemic, FDA
issued an Emergency Use Authorization for the treatment of novel coronavirus
disease (COVID-19). Ipca Laboratories Ltd, Zydus Cadila, Novartis AG, Teva
Pharmaceutical Industries Ltd., Bayer AG, Rising Pharma Holdings Inc, Abcam plc,
Mylan N.V, and Abbott are some of the leading players operating in global chloroquine
market.
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“North America is expected to
register significant growth in the hydroxychloroquine and chloroquine market during
the forecast period, owing to the use of drug for treating COVID-19.
Additionally, the drug is being used in the coronavirus treatment guidelines in
various other countries. 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 in foreseeable future.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Hydroxychloroquine and Chloroquine Market By
Type, By Route of Administration, By Strength, By Application, By Region,
Competition, Forecast & Opportunities, 2030” has evaluated the future growth potential of global hydroxychloroquine
and 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 hydroxychloroquine
and chloroquine market.
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