Pune, India -- (SBWire) -- 05/19/2020 --Infinium Global Research's recent report on the "Hydroxychloroquine Market (By Route of Administration (Oral v/s Intravenous), By Strength (100mg, 250mg & 500mg), By Application (Rheumatoid Arthritis, Malaria, COVID-19, Others): Global Industry Analysis, Trends, Size, Share and Forecasts up to 2026 considering the impact of COVID-19 pandemic." provides a comprehensive outline of the factors responsible for the growth of the market.
Hydroxychloroquine (HCQ), one of the anti-malarial drugs has received an unprecedented amount of interest as a potential treatment for COVID-19. The drug has shown strong antiviral effects on the coronavirus infection and had a significant effect, both in terms of clinical outcome and viral clearance.
Currently, 211 countries are infected by COVID-19 and 3.04 Million people are infected with the virus. As coronavirus COVID-19 pandemic is growing as a global health crisis, countries are aggressively taking precautionary measures to contain the spread of the virus. This, in turn, will augment the demand for HCQ over the coming days to contain the spread of the virus. Furthermore, increasing government funding in controlling the spread of the pandemic is fuelling the growth of the market.
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Oral Forms of Hydroxychloroquine Drug to Hold the Largest Share in the Market
Hydroxychloroquine belongs to a class of medications known as disease-modifying antirheumatic drugs (DMARDs) and is most commonly used in the treatment of malaria. This medication is also used to treat certain auto-immune diseases such as lupus and rheumatoid arthritis. Moreover, the drug is one of the first potential agents to demonstrate the ability to slow the SARS-CoV-2, the novel coronavirus, in a laboratory, which has prompted an increase in demand for the oral Hydroxychloroquine in the global markets for the treatment of COVID-19.
Furthermore, ease in administration has also increased the demand for oral forms of Hydroxychloroquine drugs. The report on the "Global Hydroxychloroquine market" offers an in-depth analysis of the segments such as Route of Administration (Oral and Intravenous), Strength (100mg, 250mg & 500mg), and Application (Rheumatoid Arthritis, Malaria, COVID-19, Others).
Asia Pacific to Emerge as the Largest Consumer of Hydroxychloroquine Over the Forecast Years
Among the regions, North America will dominate the global market over the forecast years owing to the rising use of the drug for COVID-19 treatment in 2020. The U.S. is the world's most affected country by coronavirus currently, by a number of cases, which has increased the demand for the drugs in the North America region.
The U.S. has 1.01 Million confirmed cases of COVID-19. Europe will hold the second-largest share as seven European countries are among the ten most affected countries with coronavirus. Furthermore, as more European countries are witnessing a surge in cases, the usage of Hydroxychloroquine is expected to intensify in Europe over 2020. Moreover, in the long term, the developing regions will emerge as the predominant users of Hydroxychloroquine due to the increasing cases of malaria in such countries.
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Hydroxychloroquine Market to Witness a Massive Surge in Production Due to the Covid-19 Pandemic
The Hydroxychloroquine market is highly consolidated. Indian companies such as IPCA and Zydus Cadila are the major manufacturers of Hydroxychloroquine, manufacturing up to 60% of the world's supply of hydroxychloroquine. The other manufacturers of the drug include Novartis AG, Teva Pharmaceutical Industries Ltd., Bayer AG, Rising Pharma Holdings Inc, Abcam plc, Mylan N.V, and Abbott Laboratories.
Therefore, major economies such as the U.S. and EU are relying on Indian vendors for drug supplies causing them to ramp up its production activities. The Indian pharmaceutical companies have also ramped up the monthly production of anti-malarial drug Hydroxychloroquine (HCQ) four times to 40 metric tonnes (MT) by the end of this month and five to six times to over 70 metric tonnes (MT) by next month. The plan to step up production came after the Government of India indicated it will help countries in dire need of the drug to fight novel coronavirus.
Furthermore, owing to the broken supply chain management and lesser possibility of receiving drugs and APIs from China, this can be an opportunity for Indian manufacturers to establish themselves and expand further in the global market. Infinium Global Research's recent report on the global Hydroxychloroquine is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the market and also estimates the impact of recent developments in the global market.
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