Hydroxychloroquine Drugs Market: Surged in Demand of hydroxychloroquine for the treatment of COVID-19
Global Hydroxychloroquine Drugs Market: Overview
Used to treat and manage a number of conditions such as rheumatoid arthritis and the autoimmune disease called lupus, hydroxychloroquine is seen as a wonder drug by patients suffering from these painful health issues. The antimalarial is now seeing an increase in demand from certain countries as they direct efforts towards treating COVID-19, the pandemic which is being seen as a human and humanitarian crisis. Clinical trials are underway and results of these will ascertain demand for the drug for prevention and cure of the deadly viral infection.
As per Transparency Market Research, an increased number of people suffering from arthritis and lupus will lead to growth in the hydroxychloroquine drugs market from 2019 to 2027. And, due to massive use in clinical studies being carried out in a number of research and development (R&D) facilities – universities and pharmaceutical companies - a significant demand is arising for the drug. This is paving way for opportunities in the future.
Global Hydroxychloroquine Drugs Market: Notable Development
The much critical and powerful hydroxychloroquine drugs are gaining increased attention in the current times owing to results from a French Study that states these are effective in treating Coronavirus infection, plaguing the planet. However, peer review and others from the medical community take the study with a pinch of salt. Some of the notable developments in the recent time are stated below:
2020: The President of the United States of America is endorsing use of these drugs as preventive measures. And, a number of clinical studies have already begun to test efficacy. By March 18, Boulware had already started working in this direction. Additionally, the country demanded the drug from India, which is a major manufacturer and cleared export of 3.6 million tablets at the behest of President Donald Trump.
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Some of the prominent players operating in the global hydroxychloroquine drugs market are the following:
- Novartis International AG
- Sanofi S.A.
- Amneal Pharmaceuticals, Inc.
- Laurus Labs Limited
- Prasco Laboratories
- Cardinal Health
- Concordia Pharmaceuticals Inc.
- Reddy's Laboratories
- Covis Pharmaceuticals, Inc.
- Aphena Pharma Solutions Tennessee, Inc.
- Mylan N.V., McKesson Corporation
Innovation and Research and Development are areas that are highly focused on by a number of notable players in order to drive the market forward.
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Global Hydroxychloroquine Drugs Market: Key trends and driver
Hydroxychloroquine drugs market is seeing elevated demand in its landscape owing to a number of factors. A major booster as of now is now is its association with the COVID – 19 treatment and prevention – approvals for the same are yet to arrive from the FDA.
- India, a major producer and exporter of hydroxychloroquine is ramping up production to meet increased demand from a number of other countries, including the United States of America, to which it is giving away about 3 million tablets of the drug, and nine metric tons of API – Active Pharmaceutical Ingredient. Note that some of the leading Indian manufacturers in the market landscape are Intas Pharmaceuticals, McW Healthcare of Indore, Macleods Pharmaceuticals, and Cipla.
- Coronavirus positive cases have crossed the one million mark and about 100,000 people have lost their lives to this deadly disease. It is impact on both lives and livelihoods is a great matter of concern and that is leading the governments towards commensurate measures, often turning drastic. This is set to push the market forward. However, increase in incidence of Rheumatoid Arthritis and Lupus will also drive the market on to a higher growth curve over the forecast period.
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Global Hydroxychloroquine Drugs Market: Regional Analysis
North American region will be a prominent regional market over the forecast period owing to factors such as a sizeable population of Lupus patients. Besides, United States is contributing immensely to the growth in the market by way of government endorsements; a large number of clinical trials are underway.
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