Hydroxychloroquine Market Size, Share & Industry Analysis, By Disease Indication (Malaria, COVID-19, Rheumatoid Arthritis, Others), By Distribution Channel (Hospital Pharmacy Retail Pharmacy, and Online Stores), and Regional Forecast, 2020-2032

The global hydroxychloroquine market size stoood at USD 894.0 million in 2019 and is projected to reach USD 2,799.0 million by 2032, exhibiting a CAGR of 4.7% during the forecast period. Hydroxychloroquine is used as a first line treatment of diseases such as rheumatoid arthritis, malaria, and other autoimmune diseases such as lupus. 

The growth of hydroxychloroquine market is predominantly influenced by the increasing cases of COVID-19 cases world-wide. Major countries like U.S and countries in Europe have approved the use of this drug for the treatment of this pandemic disease until a designated vaccine is discovered. India is one of the largest manufacturers and exporters of hydroxychloroquine, and the companies have ramped up the production capacities of the drug to meet its growing demand. The increase in the cases of malaria in developing countries of Africa and Asia Pacific is estimated to drive this market in the coming years.

MARKET TRENDS

Increased Emphasis by Manufacturers to Utilize the Growth Opportunities in the COVID-19 Segment

The leading manufacturers of hydroxychloroquine around the globe are utilizing the recent outbreak of COVID-19 to increase its production and sale. Studies in France and U.S have showed promising results for the treatment of COVID-19 in a limited pool of patients with the administration of the drug. This has urged countries such as U.S to import high volume of hydroxychloroquine aiming to inhibit the spread of the virus. Due to this increase in the demand of the drug, manufactures have ramped up the production capacities in their facilities. 

For instance, Zydus Cadila, one of the largest manufacturers, has recently announced that the company has increased its production capacity to 3 tons per month to meet the surge in demand of the drug among developed countries that do not manufacture this drug.

MARKET DRIVERS

Surge in the Spread of the COVID-19 Globally is projected to boost the Market

According to the WHO, as of April 2020 there are 2 million active cases of COVID-19 caused by the novel coronavirus and an estimated associated deaths of 126,758. In March 2020, COVID-19 was declared as a pandemic by the WHO. Since there are no specific therapeutic treatment in the market to treat COVID-19 and the vaccine against the disease will require more than 18 months to come to market, healthcare officials have resorted to approve alternate drugs for disease control and management. One such promise was displayed by hydroxychloroquine. 

Certain studies that were conducted in China, France and U.S used the drug in patients affected with COVID-19. The results showed favorable outcomes among patient who were prescribed this drug. This lead the U.S FDA to declare the drug for Emergency Use Authorization (EUA) in oral formulation among patients suffering from COVID-19. This surge in demand is projected to bolster the market growth for hydroxychloroquine.

Increasing incidence of Malaria in Developing Asian Countries is estimated to drive the hydroxychloroquine Market

In the past few years, there has been an increase in the incidence of malaria in the developing countries of Asia Pacific. India is estimated to have the highest number of malaria cases in the region. Hydroxychloroquine is among one of the highest consumed drugs against malaria in the country. According to the data published in the World Malaria Report 2019, 6 million individuals were diagnosed with malaria in India alone. According to the World Health Organization (WHO), globally, an estimated 228 million individuals suffered from malaria in 2018.

Additionally, pesticide resistance among mosquitoes have increased the spread of malaria in developing and underdeveloped countries. This rise in the incidence of malaria and pesticide resistance among vector is estimated to positively impact the growth of this market during the forecast period.

MARKET RESTRAINT

Side Effects Associated with the Use of Hydroxychloroquine Will Hamper Market Growth

One of the major factors restricting the hydroxychloroquine market growth is the side effects associated with the drug. Additionally, its clinical efficacy through randomized clinical is not assessed for adverse effects in COVID-19 disease indication. The uncertainty of long-term effects of use of the drug in the treatment of COVID-19 is estimated to restrain this market during the forecast years. Studies show that this drug have side effects such as diarrhea, cardiac problem, stomach aches and severe effects such as retinopathy due to prolonged usage of the drug.

SEGMENTATION

By Disease Indication Analysis

COVID-19 Disease Indication Is Estimated to Grow at an Astonishing CAGR in the Coming Years

Based on disease indication, the market is segmented into malaria, COVID-19, rheumatoid arthritis, and others. The malaria segment accounted for the maximum share of the market in 2019 and is estimated to grow at a steady CAGR during the forecast period. Increasing prevalence of malaria in developing and underdeveloped countries are estimated to drive the segment in the global hydroxychloroquine market. However, COVID-19 disease indication is estimated to record the highest CAGR in this market owing to the recent outbreak of the disease caused by the novel coronavirus. 

According to the World Health Organization, as of April 2020, around 600,000 people were diagnosed with COVID-19 in the U.S alone. COVID-19 is projected to hold a significant market share for hydroxychloroquine, during the forecast period owing to the factor that there are no currently approved therapies for the disease indication.

By Distribution Channel Analysis

Hospital Pharmacy to Account for Dominant Share of the Market

In terms of distribution channel, the market is divided into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment generated highest revenue in the hydroxychloroquine market. This is predominantly attributed to the increasing government initiatives to treat malaria in rural areas of developing and underdeveloped countries of Asia Pacific and Africa. The retail pharmacy segment is anticipated to propel during the forecast period mainly due to the significant improvement in health infrastructure in developing countries. Growth of the online stores segment is likely to be influenced by the increasing penetration of e-commerce and attractive discounts & coupons available through online channels.

REGIONAL ANALYSIS

The market size in Asia Pacific stood at USD 346.9 million in 2019. Increasing use of the drug in treating malaria in countries of Asia Pacific such as India is estimated to influence the hydroxychloroquine market growth in the region. According to the World Health Organization, India accounts for an estimated 85% share in the total number of reported malaria cases in Asia Pacific for the year 2018. Additionally, India manufactures an estimated 70% of the world’s demand. These factors are projected to propel the market growth of hydroxychloroquine, in this region. 

However, increasing cases of COVID-19 in the countries such as U.S, Italy, Spain, Germany, and France is estimated to provide growth opportunities for market in North America and Europe. The Middle East and Africa held a significant market share in 2019 owing to increasing cases of malaria in the region. Latin America held a smaller share in the market.

KEY INDUSTRY PLAYERS

Acquisition of Johnson & Johnson Customers to Provide Leading Position to Medtronic

In terms of revenue, companies such as Sanofi, Sandoz International GmbH, and Zydus Cadila cumulatively accounted for the dominant share in the market. However, owing to the increase in the cases of Coronavirus infections around the globe these major manufacturers have increased the production capacities in their respective manufacturing facilities. India is a major manufacturer of hydroxychloroquine in the globe and accounts for 70% of the total demand volume of the market. Other players in the market include Ipca Laboratories Ltd, Mylan and Teva Pharmaceuticals Bayer AG.

LIST OF KEY COMPANIES PROFILED:

• Sanofi


• Zydus Cadila


• Ipca Laboratories Ltd


• Sandoz International GmbH (part of Novartis AG)


• Mylan N.V.


• Teva Pharmaceutical Industries Ltd


• Bayer AG


• Others

KEY INDUSTRY DEVELOPMENTS:

• In June 2021, Catalent, Inc announced that they will acquire RheinCell Therapeutics GmbH, a leading developer and manufacturer of GMP-grade human induced pluripotent stem cells. This acquisition will help the company’s existing stem cell therapy process development and manufacturing capabilities.


• In December 2020, Lonza announced that they have expanded their collaboration with Aurinia Pharmaceuticals to expand a manufacturing capacity for an efficient production and manufacturing of Voclosporin


• In July 2020, the USFDA cautioned against the use of hydroxychloroquine and chloroquine to treat hospitalized COVID-19 patients with COVID-19 due to risk of heart rhythm problems, blood and lymph system disorders, kidney injuries, and liver problems and failure.


• In April 2020, India’s Ministry of Health and Family Welfare placed an order for 100 million hydroxychloroquine tablets with Ipca Laboratories and Zydus Cadila after the drug was recommended as a preventive medication for COVID-19 high-risk patient group by The Indian Council of Medical Research.

REPORT COVERAGE

The hydroxychloroquine market report offers an elaborative analysis of numerous factors affecting the market. These include opportunities, growth drivers, threats, key developments, and restraints. In addition to this, the report further helps in analyzing, segmenting, and defining the market based on different segments such as product type, disease indication and distribution channel. It strategically analyzes several strategies such as impact of COVID-19 outbreak, epidemiology of malaria, key development in this market, among others.

Report Scope & Segmentation