Hydroxychloroquine Sulfate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
Report ID: GMI4630
Hydroxychloroquine Sulfate Market size shall witness significant growth during the projected timespan owing to rising geriatric population and increasing prevalence of rheumatoid arthritis. Its high-performance characteristics in easing joint pains, ameliorating symptoms of arthritis, easily digestible nature, and compatibility with powder & tablet solutions is likely to boost the market share.
It is widely prescribed by medical professionals as it does not develop habit and regular consumption does not harm the small intestines. In the U.S., over 25% of the male population was diagnosed with arthritis in 2017 owing to increasing obesity and sedentary lifestyle. Furthermore, it can be prescribed in various dosages ranging from light to high owing to its cumulative properties in human body which is likely to boost the hydroxychloroquine sulfate market demand.
Increasing prevalence of malaria & rising demand for effective and safe medication is likely to boost demand. Hydroxychloroquine sulfate tablets are widely used in treating malaria owing to its effective nature against wide strains of parasites. In 2018, malaria prevalence in Africa surpassed 210,000 cases which is likely to boost demand for hydroxychloroquine sulfate tablets. Furthermore, its easy availability, economical nature and ability to reduce platelet loss is likely to spur hydroxychloroquine sulfate market growth.
Rising cases of skin lesions and psoriasis owing to rapid increase in pollution levels and unhealthy diets is likely to boost product demand. Hydroxychloroquine sulfate is widely prescribed to cure skin diseases owing to its antibacterial nature and ability to stop abnormal growth of skin cells. It is easily soluble in water and can be used in pediatric medication which is likely to boost demand. Rise in awareness on dermatological aspects of healthcare and increasing demand for quick acting solutions is likely to boost the hydroxychloroquine sulfate market share.
Industry players are rapidly experimenting with various dosages and introducing innovative targeted solutions to reduce symptoms for chronic skin diseases. Also, rising government and private investment to commercialize the drug is likely to have a positive effect on market. Furthermore, it does not aggravate acne and oil production making it a safe choice for aggressive and chronic skin diseases which should propel the hydroxychloroquine sulfate market.
North America led by U.S, and Canada is likely to boost as industry players are rapidly investing in R&D to find potential core for novel COVID 19. The U.S. & Canadian governments are trying to boost local manufacturing and importing hydroxychloroquine sulfate in an attempt to curb and reduce the propagation of corona virus. U.S. COVID 19 cases surpassed 620,000 by 15 April 2020 owing to rapid community propagation. Increasing number of clinical trials to test the efficacy of hydroxychloroquine sulfate in patients is likely to propel the hydroxychloroquine sulfate market share. In April 2020, FDA approved new drug application for hydroxychloroquine sulfate to address and curb the spread of corona virus epidemic which is likely to boost product demand.
Asia Pacific hydroxychloroquine sulfate market led by China & India is likely to witness growth for owing to increasing prevalence of malaria during summer and rainy season. Also, rising cases of corona virus along with increasing experimentation and positive results in reducing symptoms should boost industry demand.
Hydroxychloroquine sulfate market is likely to increase in Europe owing to rising geriatric population and increasing investment in healthcare sector. It is widely used in treating various types of chronic problems associated with old age such as arthritis and skin disorders. Furthermore, increasing cases of COVID 19 patients in Italy, Austria, UK, Switzerland, Germany, Luxembourg, and France is likely to boost demand as government and private healthcare facilities are investing to import and manufacture drugs in bulk.
Global hydroxychloroquine sulfate market share is fragmented as market consist of several players. Key industry players include Sandoz, TEVA, Mylan, HIKMA, IPCA, SHANGHAI PHARMA, Shenhua Pharm, Sanofi, H-QYN, TAJ Pharma, MAAN Medex, Cinkate, Concordia Healthcare, Shanghai Zhongxisanwei, and Wuhan Wuyao Pharmaceutical. Companies are rapidly expanding their manufacturing facilities in an attempt to meet growing demand and maintain price trends due to COVID 19 epidemic.
By Grade, 2015 - 2026 (Kilo Tons) (USD Million)
- USP Standards Grade
- EP Standards Grade
- Pharmaceutical Standard Grade
By Function, 2015 - 2026 (Kilo Tons) (USD Million)
- Skin Lesions
- COVID 19
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Sandoz, TEVA
- SHANGHAI PHARMA
- Shenhua Pharm
- TAJ Pharma
- MAANN Medex
- Concordia Healthcare
- Shanghai Zhongxisanwei
- Wuhan Wuyon Pharmaceutical
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