Hydroxychloroquine Drugs Market - Forecasts from 2022 to 2027

The global hydroxychloroquine drug market is projected to grow at a CAGR of 2.93% to reach US$1,238.981 million by 2027, from US$1,011.999 million in 2020.

The rising prevalence of chronic rheumatoid conditions, malaria, and lupus among individuals is pushing the demand for hydroxychloroquine drugs.

According to the World Health Organization (WHO), there are approximately 150 diseases or more that fall under the category of rheumatic or musculoskeletal conditions that are associated with different degrees of pain and are progressive in nature. They are also referred to as joint diseases, physical disability, spinal disorders, and some other conditions; they may be a result of trauma. Rheumatoid Arthritis, which is among one of the conditions under this category is a type of systemic disease that affects the joints, connective tissues, and muscles. It shows a prevalence of about 0.1% to 0.3%, is more common in women and is found majorly in developed countries. It mainly affects individuals between the ages of 20 and 40.

In addition, malaria, which is another disease that is cured by dosing the affected patients, with hydroxychloroquine, is also among the most prevalent diseases in many regions in the world. According to the World Health Organization, malaria is a disease that is caused by the transmission of Plasmodium parasites to humans by the Anopheles mosquito. There are approximately 200 million cases of malaria that are reported every year. In the year 2017, the number of reported cases was around 219 million.

Furthermore, according to the statistics presented by the Lupus Foundation of America, about 5 million individuals globally are suffering from some sort of lupus, of which there are an estimated 1.5 million American individuals. Lupus is an increasingly common disease among women of childbearing age. But, children, men, and teenagers are also likely to develop these diseases. The symptoms that are associated with these diseases include pain, high fatigue levels, cognitive loss, physical impairment, and other symptoms. Thus, since these diseases are increasing, there is a surging demand for hydroxychloroquine drugs which is bolstering the market growth over the forecast period.

However, as hydroxychloroquine drugs are not effective against all types of malaria, it hampers the market's growth to some extent.

An increasing number of cases of people infected with the coronavirus owing to the COVID-19 pandemic and the use of hydroxychloroquine as a possible cure to control the rate of spread is boosting the market growth.

The coronavirus pandemic has gripped the world economies and caused significant damage to the resources and medical supplies of the country, with huge financial deficits, a rising number of deaths reported every day, and economic slowdowns. Thus, there is a growing requirement by the healthcare sector to invest money and carry out research and development of new and effective drugs that can be used as a possible cure against the coronavirus. Therefore, there are a lot of clinical trials going on and a lot of investment has been put into the research of the use of hydroxychloroquine, which is primarily used for other purposes and diseases and belongs to a class of anti-malarial, but has shown the potential of its use in the current COVID-19 scenario.

Partnership agreements, donations, and supply expansions by major hydroxychloroquine drug market players

The partnership agreements and donations of hydroxychloroquine drugs with the objective of catering to the growing demand for use in research purposes or as possible care for coronavirus by existing and new players in different markets are estimated to lead to increased adoption and propel the market growth further over the forecast period.

Some of the examples of product offerings are as follows:

• Rising Pharma Holdings Inc. recently announced in March 2020 that they have entered into a partnership agreement with Laurus Labs Ltd., one of the leading companies dealing in the provision of research and development solutions coupled with pharmaceutical manufacturing. The main purpose of this agreement is to collaborate with the Division of Infectious Disease and International Medicine, (located at the University of Minnesota, Department of Infectious Disease) in order to facilitate the testing of or conduction of a clinical trial. This is being done in order to explore hydroxychloroquine as, a preventive treatment for the coronavirus disease, which is also known as COVID-19. A team of 1500 healthcare workers, among other healthcare technicians, is involved in this research project.
• Amneal Pharmaceuticals LLC, which is one of the leading pharmaceutical products and solutions companies announced that they are involved persistently in order to cater to the supply of the hydroxychloroquine drug and have decided to ramp up their operations and accelerate the growth of their hydroxychloroquine supply. The main objective of hits expansion of the manufacturing of hydroxychloroquine tablets is that they are planning to produce them between now and Mid-April, and these tablets will be available to all retail and wholesale consumers.

COVID-19 SCENARIO

The COVID-19 disease epidemic has been a major factor in the growth of the hydroxychloroquine market. This is so that COVID-19 can be effectively treated with the drug hydroxychloroquine. The efficacy of hydroxychloroquine in reducing the negative consequences of the pandemic was the subject of multiple clinical trials. The Food and Drug Administration revoked the emergency use authorization to utilise HCQ in a few hospitalised patients, so the trials were put on hold starting in June 2020. Chloroquine has been demonstrated to inhibit SARS-CoV-2 in vitro, according to Chinese sources. When used to treat COVID-19 patients, the medication was shown to be quite successful. One potentially effective treatment for coronavirus is the medication hydroxychloroquine (COVID 19). Hydroxychloroquine has been given the green light by the US Food and Drug Administration (FDA) for use as an urgent remedy for coronavirus infection. As a result, there was a considerable rise in demand for this medication globally. The market experienced an exponential expansion in the forecast year.

KEY DEVELOPMENT

FEB 2022- First-to-market extra strengths of hydroxychloroquine sulphate tablets are now available in the United States, according to Accord Healthcare Inc. The generic version of Plaquenil, hydroxychloroquine, is typically used to treat malaria, lupus, and rheumatoid arthritis. The creation and commercialization of these distinctive capabilities demonstrate Accord's dedication to addressing patients' unmet requirements for accurate dosage of significant medications in the United States. The newly released item completes Accord's earlier 200mg Hydroxychloroquine tablet release.

JULY 2021- In order to transfer the sales rights for the immunomodulator Plaquenil tablets 200 mg in Japan, Sanofi and Asahi Kasei Pharma inked a licence agreement. The focus of the merger was on treating systemic and cutaneous lupus erythematosus in Japan. Asahi Kasei Pharma received the commercial rights to Plaquenil® on October 1, 2021, following the agreement's completion.

The North American region is expected to hold a considerable share over the forecast period, and the Asia Pacific region is expected to witness significant market growth over the forecast period

The Asia Pacific region is expected to observe significant market growth over the forecast period owing to the fact that countries such as India and China are increasingly involved in the provision of the hydroxychloroquine drug. In addition, the North American region is estimated to hold a considerable share over the forecast period, due to the number of efforts being made by the government, and healthcare bodies, in order to acquire the drugs and start the testing activities as the number of cases of COVID-19 is piling up in countries such as the US.

Segmentation:

By Application

• Rheumatoid Arthritis
• Malaria

By End-User

• Hospitals and Clinics
• Ambulatory Surgical Centres
• Research Labs

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• UK
• Germany
• France
• Spain
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Asia Pacific
• Japan
• China
• India