Hydroxychloroquine Sulfate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Hydroxychloroquine Sulfate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : January, 2023 | Chemical & Materials

Report Digest

Hydroxychloroquine Sulfate: The Rescuer in COVID-19 Crisis

Hydroxychloroquine (HCQ), is a drug used to forestall and treat jungle fever in zones where intestinal sickness stays touchy to chloroquine. Other utilizations incorporate treatment of rheumatoid joint pain, lupus, and porphyria cutanea tarda. Furthermore, hydroxychloroquine sulfate is the highly touted drug that's taken for center stage due to its potential to treat patients with COVID-19. As result of this demand for hydroxychloroquine sulfate has begun to increase since last two months after US President Donald Trump has announced its effectiveness in treating corona virus patients. It is predominantly sold as a sulfate salt known as hydroxychloroquine sulfate. Brand names of hydroxychloroquine include Plaquenil, Hydroquin, Axemal (in India), Dolquine, Quensyl, Quinoric.

India is amongst the leading producer of hydroxychloroquine sulfate across globe and has suspended this drug export in March 2020. However, Indian hydroxychloroquine sulfate manufacturer rely on China for raw material supplies. Market for hydroxychloroquine sulfate is experiencing mounting growth in 1st quarter of 2020, backed by high demand for treating nCoV-19 patients.

Global Hydroxychloroquine Sulfate Market to Gain Traction as COVID-19 Outbreak Medication

After COVID-19 outbreak, utilization of hydroxychloroquine, a medication previously endorsed to treat malaria and rheumatoid joint inflammation has picked prominence. The endorsement came at the encouragement of US President Donald Trump. Some little examinations have recommended it can assist patients with COVID-19, yet concrete evidence are still worked upon.

That hasn't stopped the Department of Health and Human Services from tolerating 30 million gave portions from Novartis' Sandoz unit, just as another 1 million tablets of chloroquine phosphate, the other type of the medication. Bayer, Mylan and Amneal have each swore gifts or expanded creation of the medications. The outcomes from a fake treatment controlled preliminary of hydroxychloroquine for COVID-19 show that patients hospitalized with gentle disease recouped more rapidly with expansion of the medication than with fake treatment toward the beginning of a standard treatment. The outcomes additionally recommend that hydroxychloroquine may pass on some security against the ailment intensifying.

Segmentation Analysis of Global Hydroxychloroquine Sulfate Market

Hydroxychloroquine Sulfate Market is bifurcated into three major categories: Purity level, Application and region.

On the basis of purity level, the global market for hydroxychloroquine sulfate is divided into:

  • < 80 %
  • > 80%

On the basis of Application, the global market for hydroxychloroquine sulfate is categorized as:

  • Antimalarial Drug
  • Antirheumatic Drug
  • Lupus Suppressant Drugs

Hydroxychloroquine Sulfate Market: Regional Outlook

Asia Pacific region dominates the production of hydroxychloroquine sulfate followed by North America. India and China are considered as leading manufacturer, backed by its usual demand of hydroxychloroquine sulfate for curing malaria patients. India's Directorate General of Foreign Trade on March 25 prohibited the fare of Hydroxychloroquine yet said that specific shipments on compassionate grounds might be permitted dependent upon the situation. With increasing number of Covid-19 patients U.S., Italy, Spain and other countries across the globe can be seen as the target market for hydroxychloroquine sulfate. Individuals from the SAARC alliance, Indonesia and the UAE have mentioned India to lift the fare prohibition on hydroxychloroquine, as they gaze at a deficiency of the medication fundamentally utilized for rheumatoid joint inflammation and long haul immune system infection lupus. Furthermore, a few other European nations have likewise mentioned India for the inventory of hydroxychloroquine.

Key Players of Hydroxychloroquine Sulfate Market 

Generics organizations Mylan and Teva Pharmaceutical Industries have demonstrated their pledge to battling the COVID-19 pandemic by making declarations around hydroxychloroquine sulfate tablets, which the two of them manufacture. Mylan has restarted production of the tablets at its West Virginia fabricating office in the USA, so as to meet the potential for expanded interest coming about because of potential adequacy of the item in treating cases. Other global prominent players Novartis, Ipca Laboratories Ltd. and Mylan have announced taking steps to scale up production capacity to meet mounting demand across the globe. With increasing opportunities and growing future scope will increase the competitiveness of market, adding number of hydroxychloroquine sulfate manufacturers across the globe.

The research report presents a comprehensive assessment of the hydroxychloroquine sulfate market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. This hydroxychloroquine sulfate market report provides analysis and information, according to market segments such as purity level, application and region.

The Global Hydroxychloroquine Sulfate Market Report Covers Exhaustive Analysis On:

  • Market Segments
  • Market Dynamics
  • Market Size & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

The hydroxychloroquine sulfate market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The global hydroxychloroquine sulfate market report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The global hydroxychloroquine sulfate market report also maps the qualitative impact of various market factors on market segments and geographies.

The Global Hydroxychloroquine Sulfate Market Report Highlights:       

  • A Detailed overview of the parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?