Hydroxychloroquine Drugs Market: Introduction

According to the report, the global hydroxychloroquine drugs market was valued at US$ 0.67 Bn in 2019 and is projected to expand at a CAGR of 10% from 2020 to 2030. Hydroxychloroquine belongs to a class of drugs called antimalarials. It is used to treat rheumatoid arthritis and systemic lupus erythematosus by decreasing the activity of the immune system. In terms of disease indication, the global hydroxychloroquine drugs market has been classified into malaria, rheumatoid arthritis, COVID-19, systemic lupus erythematosus, and others. Based on distribution channel, the global hydroxychloroquine drugs market has been categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The rise in prevalence of malaria and rheumatoid arthritis and increase in geriatric population augment the global hydroxychloroquine drugs market.

North America dominated the global hydroxychloroquine drugs market in 2019 and the trend is anticipated to continue during the forecast period. Well-established healthcare infrastructure and early adoption of advanced technologies are expected to boost the growth of the market in the region. Moreover, rise in prevalence of various types of targeted diseases increases demand for hydroxychloroquine drugs, which, in turn, fuels the growth of the market in North America. Asia Pacific is likely to be a highly lucrative market for hydroxychloroquine drugs during the forecast period. The market in the region is expected to grow rapidly over the next few years, due to increase in penetration and rise in awareness about biologic and biosimilar drug products in China. The country’s high market share can be attributed to the faster adoption of biologic and biosimilar drug products to treat chronic diseases such as rheumatoid arthritis and increase in geriatric population.

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High Prevalence of Malaria, Rheumatoid Arthritis, and Other Targeted Diseases to Drive Global Market

Hydroxychloroquine is FDA-approved to treat or prevent malaria. Hydroxychloroquine is also approved to treat autoimmune conditions such as chronic discoid lupus erythematosus, systemic lupus erythematosus in adults, and rheumatoid arthritis. According to the CDC, nearly half the world's population lives in areas at risk of malaria transmission in 91 countries and territories. In 2016, malaria caused an estimated 216 million clinical episodes and 445,000 deaths, which increased to an estimated 228 million cases and 405,000 deaths in 2018. Majority of deaths occurred in the WHO African Region. Systemic lupus erythematosus (SLE) is another most common autoimmune disease, in which the immune system attacks its own tissues, causing widespread inflammation and tissue damage in the affected organs. Hydroxychloroquine and corticosteroids (e.g., prednisone) are often used to treat SLE. The Lupus Foundation of America estimates that 1.5 million people in the U.S. and at least five million people across the world have a form of lupus. Ninety percent (90%) of people living with lupus are women.

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Rheumatoid Arthritis to Dominate Global Market

In terms of disease indication, the global hydroxychloroquine drugs market has been bifurcated into malaria, rheumatoid arthritis, COVID-19, systemic lupus erythematosus, and others. The rheumatoid arthritis segment dominated the market in terms of revenue in 2019. The increase in geriatric population also fuels the growth of the segment. The prevalence varies between 0.3% and 1% and is more common in women and in developed countries, as per WHO data.

Hospital Pharmacies to be Key Distribution Channel

Based on distribution channel, the global hydroxychloroquine drugs market has been categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the global hydroxychloroquine drugs market in 2019. Large inventory maintained by hospitals and availability of essential drugs at hospital pharmacies are expected to drive the segment from 2020 to 2030. However, the online pharmacies segment is likely to expand at the highest CAGR during the forecast period. Increase in adoption of eCommerce and convenience offered by online pharmacies pharmacies are projected to drive the online pharmacies segment during the forecast period.

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North America to Dominate Global Market

The global hydroxychloroquine drugs market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2019, followed by Europe. North America accounted for major share of the global hydroxychloroquine drugs market in 2019, owing to early adoption of advanced treatment option and well-established healthcare infrastructure and strategies adopted by key players. The hydroxychloroquine drugs market in Asia Pacific is likely to expand at a high CAGR from 2020 to 2030. The rise in prevalence of malaria across the region is projected to accelerate the growth of the market in the region.

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Competition Landscape

Zydus Cadilla, Novartis AG, and Prasco Laboratories are the three major companies operating in the global hydroxychloroquine drugs market. The global hydroxychloroquine drugs market is fragmented in terms of number of players. Key players in the global 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, and Prasco Laboratories. New product development through robust R&D activities and merger & acquisitions are the key strategies adopted by these players to operate business in the global hydroxychloroquine drugs market

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