Bizizz Market Research has recently published a research report, “Hydroxychloroquine Market By Disease Type (Coronavirus disease (COVID 19), Malaria, Rheumatoid Arthritis, Lupus Erythematosus, Porphyria cutanea tarda (PCT), Q fever and Others), Distribution channel (Online Pharmacy, Retail Pharmacy, Hospital Pharmacy and Specialty Drug Stores), Dosage type (200mg, 400 mg and 800 mg), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Hydroxychloroquine Market was valued at US$ XX Bn in 2018 and it is anticipated to reach a market value of US$ YY Bn by 2027, witnessing a CAGR of 45.6 % during the forecast period. Key drivers of the market are COVID-19 pandemic and very huge demand for Hydroxychloroquine from various countries in order to prevent and treat COVID-19 pandemic spread worldwide.
The Global demand for hydroxychloroquine is on the rise by the rapid spread of coronavirus which is anticipated to fuel the market growth. It is observed that some of the companies had optimized their production capacities such as Maylan N.V. in the month of March 2020, a pharmaceutical company had increased its manufacturing process of hydroxychloroquine sulfate tablets in meeting the rising demand for treating patients suffering from coronavirus disease (COVID 19). The necessity of Hydroxychloroquine has risen substantially by the prevalence of malaria and an increased number of cases related to autoimmune illnesses such as lupus erythematosus and rheumatoid arthritis, among others. This is considered as a wonder drug by the patients suffering from various serious health ailments. As per the report of the World Health Organization (WHO), the number of COVID-19 positive cases registered till 13/03/2020 were around 17,76,867 who need an effective treatment method which could play a crucial role such as Hydroxychloroquine.
The Hydroxychloroquine market is anticipated to register a CAGR of over 45.6% during the forecast period.
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By Disease type, COVID-19 segment held a key share in Global Hydroxychloroquine Market in 2018.
The current market for hydroxychloroquine provides lucrative opportunities for the global market players in order to control the outbreak of COVID-19 pandemic globally along with various other usages. Though, key market drivers of hydroxychloroquine currently being COVID-19 for its treatment by hydroxychloroquine utilization is stated as a vital constituent. The spread of COVID-19 is registered in around 208 countries. The important vital property of hydroxychloroquine drug is its anti-viral nature that fights against SARS-CoV-2, being a virus a causative agent for COVID-19. The healthcare institutions are widely adopting hydroxychloroquine in the treatment and prevention of COVID-19 that is acting as a key driver in the market growth of hydroxychloroquine worldwide.
The Asia Pacific region is Anticipated to Dominate the Global Hydroxychloroquine Market during the Forecast Period
The Asia Pacific region is known for its huge production capacities of Hydroxychloroquine. According to the Indian Pharmaceutical Alliance (IPA), India is the largest contributor of hydroxychloroquine in the global market. Indian manufacturing of Hydroxychloroquine registeredfor around 70 % of the global market supply. The nations such as the U.S. and European countries have very less manufacturing of hydroxychloroquine drug, due to lesser spread of malaria among these nations. The drug is considered vital in treating COVID-19, in most of the nations who are requesting India to supply hydroxychloroquine drug. Such consequences in the global market attributed to huge demand of hydroxychloroquine. For managing the rise in the demand of hydroxychloroquine at the domestic as well as internationally, the government of India ordered the manufacturers to increase their manufacturing of hydroxychloroquine drug to cater to the demand of various sectors globally.
Global Hydroxychloroquine market was highly fragmented among the number of local and global players. The organizations manufacturing hydroxychloroquine are expanding their market presence to cater to the demand of hydroxychloroquine from various countries and increase their competency.
Prominent players operating in the Global Hydroxychloroquine Market are Amneal Pharmaceuticals, Inc., Novartis International AG., Cardinal Health, Concordia Pharmaceuticals Inc., Laurus Labs Limited, Prasco Laboratories, Health, Aphena Pharma Solutions Tennessee, Inc., Sanofi S.A., Reddy’s Laboratories, Covis Pharmaceuticals, Inc., Mylan N.V., McKesson Corporation, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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