The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Hydroxychloroquine. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Hydroxychloroquine Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Hydroxychloroquine market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Hydroxychloroquine
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Global sales of hydroxychloroquine are expected to reach US$ 3.6 Bn in 2021. Fact.MR still the hydroxychloroquine market to grow at a compounded annual growth rate of approximately 4% across the 2021-2031 forecast period. Demand is expected to emerge the strongest in the anti-malarial segment, clocking a CAGR of 5% across the forecast period.
Key Segments Covered
· Drug Type
- Anti-malarial Hydroxychloroquine Drug
- Anti-rheumatic Hydroxychloroquine Drug
- Lupus Suppressant Hydroxychloroquine Drug
- Anti COVID 19 Hydroxychloroquine Drug
- Other Hydroxychloroquine Drugs
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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.
- On March 5th, 2021, Aspen Pharmaceutical Corporation received R $20 million from BNDES in connection with its hydroxychloroquine manufacturing. A total of R $ 153 million was invested in research activities and expanded production capacity by the company in 2020 as part of two loan agreements with BNDES. Two firms had already reached several agreements concerning the manufacture of drugs on the market.
- In July 2021, Sanofi and Asahi Kasei Pharma signed a license agreement to transfer sales rights for Plaquenil tablets 200 mg, an immunomodulator in Japan. The merger centered on treating cutaneous lupus erythematosus and systemic lupus erythematosus in Japan. Upon the execution of the agreement, the company will transfer the marketing rights to Plaquenil® to Asahi Kasei Pharma on October 1, 2021
Future demand is expected to be bolstered by the global initiative to reduce the burden of malaria across both developing and developed nations. As of 2019, the W.H.O estimated that total funding for malaria elimination and control reached US$ 3 Bn, which provided stimulus to hydroxychloroquine production. That same year, 229 million active cases of malaria were detected, prompting countries to speed up eradication campaigns.
Key Takeaways from the Market Study
- Global hydroxychloroquine market generated value opportunity worth US$ 2.3 Bn in 2020
- By drug type, anti-malarials to expand the fastest, registering a CAGR of 5% by 2031
- Lupus suppressant hydroxychloroquine to expand at a CAGR of 4.5%
- Hydroxychloroquine for anti-rheumatic purposes to capture nearly 50% of demand
- U.S accounted for over 33% sales of hydroxychloroquine tablets as of 2019, capturing a higher share by 2031
- India to be the leading market for hydroxychloroquine, accounting for 3 out of 5 sales
“Consistent with the global endeavor to reduce incidences of infectious diseases such as malaria and other viral diseases, manufacturers are investing heavily in R&D of effective medicines, pushing up prospects for hydroxychloroquine formulations,” says the Fact.MR analyst.
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