Hydroxychloroquine is a white, crystalline powder, freely soluble in water, practically insoluble in alcohol, chloroform, and in ether. The trade name of hydroxychloroquine is Plaquenil. This product also has anti-inflammatory, immune regulation, anti-infection, light-filtering, anti-coagulation, and other effects. Hydroxychloroquine is a second-generation semi-antimalarial drug. In 1944, scientists developed a new type of antimalarial drug hydroxychloroquine based on chloroquine. Hydroxychloroquine is a derivative of chloroquine. Its therapeutic effect is similar to that of chloroquine, but its side effects significantly reduced.
The difference between it and chloroquine is that hydroxyethyl replaces an ethyl group in chloroquine. It is precisely because of this difference that hydroxychloroquine is absorbed faster in the human gastrointestinal tract and more widely distributed in the body. Hydroxychloroquine is an analog of chloroquine that has fewer concerns about drug-drug interactions. In the previous SARS outbreak, hydroxychloroquine was reported to have anti-SARS-CoV activity in vitro.
Global Hydroxychloroquine Market projected to spur at a substantial rate during the forecast period, 2020-2027. The growing demand for hydroxychloroquine in recent COVID-19 outbreaks across the world is estimated to fuel the global hydroxychloroquine market in upcoming years. Moreover, the application of hydroxychloroquine in the prevention or treatment of malaria would raise the demand for hydroxychloroquine in the global market. Additionally, the surge in infectious diseases which are caused by pathogenic microorganisms, such as bacteria, viruses, parasites, or fungi, will accelerate the growth of global hydroxychloroquine market size. According to WHO, the lower respiratory infections remained the most deadly infectious disease, causing 3.0 million deaths worldwide in 2016, and the diarrhoeal diseases caused 1.4 million deaths and tuberculosis deaths toll of 1.3 million in 2016.
Furthermore, growing usages of hydroxychloroquine for treating several forms of malaria and lupus erythematosus and rheumatoid arthritis will trigger the global hydroxychloroquine industry in the next few years. According to WHO, in 2017, 435 000 deaths due to malaria occurred globally, of which almost 80% of all deaths in 2017 occurred in 17 countries. The growing prevalence of chronic diseases worldwide is boosting the use of drugs market, which also spur the hydroxychloroquine market as it is used in treating uncomplicated malaria, rheumatoid arthritis, chronic discoid lupus erythematosus, and systemic lupus erythematosus.
The COVID-19 first broke out in Wuhan (China) and subsequently spread worldwide. During the 2002-03 outbreak of the SARS virus, airports in Singapore and China deployed hydroxychloroquine and have been using them since.
The Coronavirus disease (COVID-19) pandemic (caused by the virus SARS-CoV-2) has increased demand for medicines, vaccines, diagnostics, and reagents. According to WHO, to date, there are 1,174,855 confirmed cases, 64,471 confirmed death in 209 countries. Due to COVID-19, the FDA has approved the use of hydroxychloroquine and chloroquine. This approval allows the use of these medications in light of a public health emergency.
Based on application, the global hydroxychloroquine market classified into COVID-19, Malaria, Rheumatoid Arthritis, Lupus Erythematosus, Porphyria Cutanea Tarda, and Others. The COVID-19 segment estimated to dominate the hydroxychloroquine market. It is due to the huge demand for hydroxychloroquine in a recent outbreak of COVID-19 infection. In the previous SARS outbreak, hydroxychloroquine was reported to have anti-SARS-CoV activity in vitro. It is used as an antiviral therapy against SARS-CoV-2 or COVID-19.
The Malaria segment accounted for a higher market share in 2019 and will witness to grow at a significant rate during the forecast period as it is used for the treatment of uncomplicated malaria caused by Plasmodium Vivax, Plasmodium malariae, Plasmodium ovale, and Plasmodium falciparum.
Based on end-user, the global hydroxychloroquine market categorized into Hospital, Pharmacy Store, Clinics, and Others. Hospital segment held for maximum revenue in 2019 and expected to gain maximum revenue by 2027 attributable to the growing demand for hydroxychloroquine in recent outbreak COVID-19 coupled with the increasing number of confirmed cases of COVID-19 infected patients across the world. Additionally, various countries have surged in their financial expenditure of the healthcare department to curb COVID-19.
Pharmacy Store segment will boom owing to the approval for the use of hydroxychloroquine by the FDA to treat the COVID-19 virus along with the rise in the number of pharmacy stores around the world.
Based on geography, the global hydroxychloroquine market size segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027. It is owing to the presence of major players in these regions coupled with authorization for hydroxychloroquine and chloroquine by FDA in the use of medications in light of a public health emergency to curb outbreak COVID-19.
The Asia Pacific will be the fastest-growing segment during the forecast period due to the maximum number of dead persons infected from malaria in South Asia regions and growing use for hydroxychloroquine in fast-spreading COVID-19 in these regions.
Europe segment will grow attributable to the maximum number of death cases from COVID-19 in these regions along with the approval for the use of hydroxychloroquine in public use by the European Union.
Companies such as Sanofi SA, Novartis International AG, Mylan N.V., Teva Pharmaceuticals. Ipca Laboratories, Cadila Healthcare Lt, Wallace Pharmaceuticals Ltd., and Macleods Pharmaceuticals are the key players in the Global Hydroxychloroquine Market.