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What is the Anticipated CAGR of the Hydroxychloroquine Market, and What Factors Will Drive It?

The market size of hydroxychloroquine has witnessed robust growth lately. Its value is expected to increase from $2.07 billion in 2024 to $2.22 billion in 2025, projecting a compound annual growth rate (CAGR) of 7.2%. The historical growth rate is due to the heightened prevalence of malaria, increased knowledge regarding hydroxychloroquine, its broad accessibility, and autoimmune diseases.

The hydroxychloroquine market is projected to witness significant expansion in the coming years, with its value reaching $2.86 billion in 2029, reflecting a compound annual growth rate (CAGR) of 6.6%. This growth over the forecasted period can be ascribed to factors such as the rising demand for combination treatments, amplified governmental funding, increasing patient populace, enhanced healthcare accessibility, and a growing need for personalized treatments. Dominant trends expected during this forecast period encompass targeted therapies, the use of telemedicine, drug repurposing, concerns over sustainability and environmental impacts, issues of global health equity, and advancements in biotechnology.

What External and Internal Drivers Are Contributing to the Growth of the Hydroxychloroquine Market’s Growth?

Rising COVID-19 cases have amplified the need for the hydroxychloroquine market. Hydroxychloroquine’s use in treating COVID-19 patients and conducting ongoing clinical trials has boosted its demand. In emergency situations, the US Food and Drug Administration has permitted the use of hydroxychloroquine to treat COVID-19 patients, who are either hospitalised or participating in clinical trials. The World Health Organization’s COVID-19 dashboard reported 770,778,396 verified cases and 6,958,499 deaths globally as of September 21, 2023. The countries most impacted by the virus include the USA, Brazil, Russia, the UK, India, and Spain. This ongoing surge in global COVID-19 cases is enhancing the demand for hydroxychloroquine, leading to higher revenue generation for the hydroxychloroquine market during this time.

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Who Are the Top Companies Contributing to the Growth of the Hydroxychloroquine Market?

Major companies operating in the hydroxychloroquine market include Bayer AG, Dr. Reddy’s Laboratories Ltd., Zydus Group, Ipca Laboratories Ltd., Wallace Pharma, Teva Pharmaceuticals Inc., Mylan Pharmaceuticals Inc., Novartis AG, Intas Pharmaceuticals Ltd., Lupin Limited, Shanghai Zhongxi Sanwei Pharmaceutical Co. Ltd., Torrent Pharmaceuticals Ltd., Hikma Pharmaceuticals plc, Sandoz International GmbH, Cipla Limited, Shenhua Pharmaceutical Co. Ltd., Sanofi S.A., Macleod Pharmaceuticals Ltd., McW Healthcare, Laurus Labs, TAJ Pharmaceuticals, Wuhan Wuyao Pharmaceutical Co. Ltd., MAAN Medex, Cinkate Corporation, Concordia Healthcare, Pfizer Inc., Cadila Pharmaceuticals, Hetero Drugs Ltd., Jubilant Generics Limited, Alembic Pharmaceuticals Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma USA Inc., Alkem Laboratories Ltd., Glenmark Pharmaceuticals Ltd., Unichem Laboratories Ltd., Wockhardt Limited, Emcure Pharmaceuticals Ltd., Strides Pharma Science Ltd., Indoco Remedies Ltd.

What New and Evolving Trends Are Having a Lasting Impact on the Hydroxychloroquine Market?

The growth of the hydroxychloroquine market is anticipated to be curtailed due to the adverse effects linked with the employment of such drugs. Those receiving treatment with hydroxychloroquine for COVID-19 are at risk of serious, potentially fatal, heart rhythm disruptions. A safety communication was issued by the US Food and Drug Administration in January 2022, cautioning against the harmful side effects of hydroxychloroquine when used for COVID-19 treatment outside hospital or clinical trial scenarios. Hence, these potential risks limit the application of hydroxychloroquine outside of a clinical or hospital environment, inherently impeding the progression of the hydroxychloroquine market in the future.

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How Are Market Segments in the Hydroxychloroquine Industry Positioned for Long-Term Growth?

The hydroxychloroquine market covered in this report is segmented –

1) By Drug Activity: Anti-Malarial Drug, Anti-Rheumatic Drug, Lupus Suppressant Drug, Anti COVID-19 Drug, Other Drug Activity

2) By Formulation: Tablets, Injection

3) By Application: Malaria, Rheumatoid Arthritis, Lupus Erythematosus, COVID-19, Other Applications

4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Specialty Drug Stores, Retail Pharmacy

Subsegments:

1) By Anti-Malarial Drug: Treatment Of Malaria, Prophylaxis For Malaria

2) By Anti-Rheumatic Drug: Treatment Of Rheumatoid Arthritis, Treatment Of Juvenile Idiopathic Arthritis

3) By Lupus Suppressant Drug: Treatment Of Systemic Lupus Erythematosus

4) By Anti COVID-19 Drug: Treatment Of COVID-19 Symptoms

5) By Other Drug Activity: Treatment Of Other Autoimmune Disorders, Additional Off-label uses

What Are the Key Regions Powering Growth in the Hydroxychloroquine Market?

The countries covered in the hydroxychloroquine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

What Are the Defining Features of the Hydroxychloroquine Market?

Hydroxychloroquine refers to a quinolone-derived medication that is used to treat malaria. In countries or regions where it is recognized that other medications (such as chloroquine) may not be effective, it is also used to prevent malaria infection. In some hospitalized individuals, hydroxychloroquine may also be used to treat COVID-19 (COVID-19).

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