Hydroxychloroquine Market Anticipated to Reach Valuation of USD 2,598.6 Million by 2028

Vantage Market Research

Jan 30, 2022

In terms of revenue, the Hydroxychloroquine Market is expected to reach USD 2,598.6 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.7% from 2022 to 2028. The has an ability to speed up recovery processes in the treatment of patients suffering from diseases like malaria & rheumatoid arthritis. This has contributed in growing demand for the product globally. With this regard, the increasing product demand has motivated several companies for enhancing their production methods and capabilities associated with the product.

Key Findings:

  • Tablet sub-segment in type segment is projected to have the fastest growth during the forecast period because of the easy availability of the product in tablet form which is about to grow at a higher Compound Annual Growth Rate (CAGR). Additionally, higher demand for tablets due to their ease of consumption and cost-effectiveness driving the Hydroxychloroquine Market growth.
  • Online pharmacy in the distribution channel segment has held a higher market share in 2021. The growth in the segment is driven by the continuous expansion of the e-commerce sector coupled with the limited availability of medicine in hospital pharmacies & retail pharmacies and its time-saving feature.

Some of key players in Hydroxychloroquine Market include - Sanofi, Amneal Pharmaceuticals, Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., Novartis AG, Zydus Cadila, Dr. Reddy’s Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Lupin Limited, Prasco Laboratories.

It was seen that has shown positive signs in the recovery phase of patients suffering from coronavirus. As a result, there was a sudden hike in the demand for products across the world. Countries like the United States are putting efforts and investment in the development of an efficient treatment option with the help of is one of the factors that drive the market growth. The increasing cases of malaria are creating growth opportunities for the companies that are operating in this market. Thus, the growing demand for products all over the globe is having a positive impact on the growth of the overall market.

North America is holding a dominant position in the regional segment. High production of in various countries across the region is contributing in the growth of the market. India at present time is the largest producer of . The high potential of this drug in treating COVID-19 had enforced India to impose a ban on the export of the drug, which has led to tension in U.S.–India relations.