The Hydroxychloroquine Market accounted forUSD 901.4 Millionin 2021.
drug is used in treating malaria and also used to prevent malaria infection in areas where it is known that other medicines (ex. chloroquine) may not work. India is known as one of the largest producers of . The high potential of this drug in treating COVID-19 enforced India to impose a ban on the export of the drug and this has led to tension in U.S.-India relations. Today, approximately 80 nations across the world are dependent on India for .
The outbreak of the COVID-19 pandemic all over the globe is a major key factor driving the growth of this market. Several clinical trials, as well as experiments, are being conducted all over the globe for analyzing the efficacy & safety of for the treatment of adults hospitalized with the coronavirus. The growing prevalence of malaria coupled with many other chronic diseases, mainly in developing and underdeveloped nations, is also expected to raise the adoption of this drug.
An increase in cases of autoimmune diseases like lupus erythematosus and rheumatoid arthritis are responsible for increasing demand for globally. The implementation of some favorable government policies for promoting global health and extensive research and development (R&D) activities in the domain of medical sciences are other factors projected to drive the market during the forecast period.In addition,it was been observed that has shown a positive impact in the recovery phase of patients suffering from coronavirus has led sudden hike in the demand for the drug across the world.
North America is holding its dominance in the regional segment and is expected to continue the same. The huge amount of production of in various countries across the region is contributing to the growth of the market. India in present time is the largest producer of . The high potential of this drug in treating COVID-19 had enforced India to impose a ban on the export of the drug, which has led to tension in U.S. – India relations.
Some of the prominent players operating in the Hydroxychloroquine Marketinclude - 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, Prasco Laboratories.