PUBLISHER: The Business Research Company | PRODUCT CODE: 1712712
PUBLISHER: The Business Research Company | PRODUCT CODE: 1712712
Hydroxychloroquine, derived from the quinolone class of medications, is primarily used to treat malaria. In regions where other medications like chloroquine might not be effective, it's also employed to prevent malaria infection. Additionally, in some hospitalized individuals, hydroxychloroquine has been explored as a potential treatment for COVID-19 (COVID-19).
The key therapeutic activities associated with hydroxychloroquine include its use as an anti-malarial, anti-rheumatic, lupus suppressant, and potentially as an anti-COVID-19 agent. Antimalarial drugs, commonly known as 'antimalarials,' are chemical agents that combat parasites causing malaria. These drugs are often derived from natural sources. Hydroxychloroquine is available in various formulations such as tablets and injections, utilized in treating malaria, rheumatoid arthritis, lupus erythematosus, COVID-19, and other conditions. Its distribution spans across multiple channels including hospital pharmacies, online pharmacies, specialty drug stores, and retail pharmacies.
The hydroxychloroquine market research report is one of a series of new reports from The Business Research Company that provides hydroxychloroquine market statistics, including hydroxychloroquine industry global market size, regional shares, competitors with a hydroxychloroquine market share, detailed hydroxychloroquine market segments, market trends and opportunities, and any further data you may need to thrive in the hydroxychloroquine industry. This hydroxychloroquine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The hydroxychloroquine market size has grown strongly in recent years. It will grow from $2.07 billion in 2024 to $2.22 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising prevalence of malaria, growing awareness of hydroxychloroquine, wide availability, and autoimmune diseases.
The hydroxychloroquine market size is expected to see strong growth in the next few years. It will grow to $2.86 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to growing demand for combination therapies, increased government funding, growing patient population, increased access to healthcare, growing demand for personalized medicine. Major trends in the forecast period include targeted therapies, telemedicine, drug repurposing, sustainability and environmental impact, global health equity, and biotechnology advancements.
The surge in COVID-19 cases has notably bolstered the demand for the hydroxychloroquine market. Its increasing usage in COVID-19 treatment and ongoing clinical trials has driven this demand. Authorization from the US FDA for emergency use in hospitalized COVID-19 patients and those enrolled in trials has further stimulated this demand. Global COVID-19 figures, as per the WHO Dashboard on September 21, 2023, indicate over 770 million confirmed cases and nearly 7 million deaths. Countries like the USA, Brazil, Russia, UK, India, and Spain have experienced the most significant impact. Consequently, the persistent rise in global COVID-19 cases is fueling demand for hydroxychloroquine, leading to heightened revenues in this market segment.
The projected escalation of rheumatoid arthritis cases is anticipated to drive growth in the hydroxychloroquine market. Rheumatoid arthritis, an autoimmune condition causing inflammation in affected body areas, benefits from hydroxychloroquine due to its anti-inflammatory properties. With approximately 54.4 million adults diagnosed with arthritis in the US, expected to reach 78 million by 2040 according to CDC projections in June 2023, the increased prevalence of rheumatoid arthritis is poised to propel the hydroxychloroquine market forward.
The increasing healthcare expenditure is expected to drive the growth of the hydroxychloroquine market in the future. Healthcare expenditure refers to the total resources, usually measured in monetary terms, that are allocated by a country, organization, or individual toward health services and products. Several factors contribute to the rise in healthcare spending, including an aging population, the prevalence of chronic diseases, advancements in medical technology, and growing consumer expectations for high-quality care. Hydroxychloroquine may help mitigate rising healthcare costs by providing an affordable treatment option for various conditions, thereby reducing the need for more expensive medical interventions. For example, in November 2023, the Canadian Institute for Health Information, a non-profit organization based in Canada, projected that total health expenditure would reach $344 billion in 2023, marking a modest increase of 2.8% compared to the previous year. Thus, the rising healthcare expenditure is fostering growth in the hydroxychloroquine market.
Leading companies in the hydroxychloroquine market are focusing on developing innovative solutions to improve the drug's efficacy, increase patient access, and tackle emerging health challenges associated with its use. Innovative solutions encompass new and creative approaches that effectively solve specific problems. For example, in February 2022, Accord Healthcare Inc., a U.S.-based generic pharmaceutical company, introduced new strengths of hydroxychloroquine sulfate tablets to cater to the varied needs of patients and healthcare providers. These newly available strengths of 100mg, 300mg, and 400mg provide more customized dosing options for the treatment of conditions such as rheumatoid arthritis, lupus, and malaria. Previously, only a 200mg tablet was available, which often necessitated that patients split tablets to achieve the prescribed dosage. Accord's introduction of these additional strengths fills this gap, enhancing dosing accuracy and reducing tablet waste.
In August 2023, Ipca Laboratories, a pharmaceutical company based in India, acquired Unichem for $0.118 billion. This acquisition is intended to strengthen Ipca's product portfolio and expand its market presence by capitalizing on Unichem's expertise in various therapeutic areas and enhancing its research and development capabilities. Unichem, also based in India, specializes in the development, manufacturing, and marketing of a broad range of generic and branded medications across multiple therapeutic areas.
Major companies operating in the hydroxychloroquine market include Bayer AG, Dr. Reddy's Laboratories Ltd., Zydus Group, Ipca Laboratories Ltd., Wallace Pharma, Teva Pharmaceuticals Inc., Mylan Pharmaceuticals Inc., Novartis AG, Intas Pharmaceuticals Ltd., Lupin Limited, Shanghai Zhongxi Sanwei Pharmaceutical Co. Ltd., Torrent Pharmaceuticals Ltd., Hikma Pharmaceuticals plc, Sandoz International GmbH, Cipla Limited, Shenhua Pharmaceutical Co. Ltd., Sanofi S.A., Macleod Pharmaceuticals Ltd., McW Healthcare, Laurus Labs, TAJ Pharmaceuticals, Wuhan Wuyao Pharmaceutical Co. Ltd., MAAN Medex, Cinkate Corporation, Concordia Healthcare, Pfizer Inc., Cadila Pharmaceuticals, Hetero Drugs Ltd., Jubilant Generics Limited, Alembic Pharmaceuticals Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma USA Inc., Alkem Laboratories Ltd., Glenmark Pharmaceuticals Ltd., Unichem Laboratories Ltd., Wockhardt Limited, Emcure Pharmaceuticals Ltd., Strides Pharma Science Ltd., Indoco Remedies Ltd.
North America was the largest region in the hydroxychloroquine market in 2024. Middle East is expected to be the fastest-growing region in the hydroxychloroquine market report. The regions covered in the hydroxychloroquine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the hydroxychloroquine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The hydroxychloroquine market consists of sales of plaquenil, antimalarials, and immunosuppressants. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hydroxychloroquine Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hydroxychloroquine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hydroxychloroquine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hydroxychloroquine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.