Plaquenil Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

  • Single User License $3500

Plaquenil Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Status : January, 2023 | Healthcare IT

Report Digest

Plaquenil drug, brand name of Hydroxychloroquine, is a disease modifying anti-rheumatic drug. It eases the pain and swelling of arthritis. It helps in preventing joint damage and reduces the risk of long- term disability. Rheumatoid arthritis, symptoms of lupus, and childhood arthritis can be treated by taking plaquenil drugs. The drug can also prevent diseases caused by parasites.

The global plaquenil drug market is expected to grow at a CAGR between 6-9%. The growth rate is expected to double during the forecast period 2021-2031.

Prevalence of Malaria and Coronavirus

Malaria, transmitted through a mosquito bite is a life- threatening disease and its prevalence in various countries has led to increased demand of plaquenil drug. Rising concerns about health due to infectious and autoimmune diseases spreading all over the world are some factors driving the growth of the palquenil drugs market.

Side effects of the Drug may hamper the Growth

Skin rashes, feeling sick, diarrhoea, headaches, hair loss, visual problems are some of the side effects that can prevail after taking higher dose of plaquein drug. There is a small risk that plquenil drug can damage the internal part of retina in case of long term use. These side –effects can cause a long term permanent problem among patients and thus, may restrain the growth of the market.

Plaquenil Drugs Market- Competitive Market

Key manufacturers for the plaquenil drug are:

  • Cadila Healthcare Ltd
  • Hikma Pharmaceuticals PLC
  • Ipca Laboratories Ltd
  • Mylan N.V
  • Novartis AG
  • Pfizer Inc
  • Sanofi S.A.
  • Taj Pharmaceuticals Ltd.
  • Teva Pharmaceuticals Industries
  • Zydus Cadila
  • Torrent Pharmaceuticals

In March 2020, a well renowned drug firm Cadila health care announced their approval for transferring their animal health care business to its wholly-owned firm Zydus Animal Health and Investments Ltd. as part of its internal restructuring exercise.

In March 2020, owing to the fear of pandemic, Novartis committed to donate 130 million doses of plaquenil drug (or hydroxychloroquine). The company is further exploring to scale its supply and tried working with manufacturers to meet the global demand. 

Pfizer and BioNTech announced development of vaccine against the global pandemic Covid-19. The vaccine has been authorized for use by FDA to prevent the spread of disease any further.

Plaquenil Drugs Market- Regional Outlook

Asia-Pacific dominates the plaquenil drug market owing to presence of major players like India and China in the region, India being the largest supplier of pharmaceuticals in the world. Furthermore, surge in demand for medication due to high rate of increasing malaria, coronavirus, arthritis, etc. Rise in geriatric population among Japan and India is also the key growth prospect for this region.  

Plaquenil Drugs Market- Segmentation

Based on Product Type

  • Tablet
  • Active pharmaceutical ingredients

Based on Distribution Channel

  • Hospital Pharmacy
  • Online Pharmacy
  • Specialty Drug Store
  • Retail Pharmacy

By Disease

  • Malaria
  • Rheumatoid Arthritis
  • Lupus Erythematosus
  • Coronavirus
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America

Key Questions Answered

  • Which segment to grow the plaquenil drug sector during the forecast period?

    Although covid-19 has been contained in some countries with vaccine and lockdowns but according to WHO, the disease is not vanishing anytime soon. It paves a way of growth for the drug.

  • Which end-user segment is the highest market for plaquenil drug?

    Hospital Pharmacy to account for dominant share owing to rising government initiatives for treating malaria in rural areas of developing and under developing nations.

  • Which country holds the largest manufacturers of palquenil drugs?

    India is the largest manufacturers of drugs or medicines in the World. Several countries depend on India for pharmaceutical requirements.

  • What are the key factors driving the global market?

    Outbreak of covid-19 and increasing malaria cases are the key growth prospects in the world.

  • Which are the prominent manufacturers in the market?

    Ipca Laboratories Ltd, Mylan N.V, Novartis AG, Pfizer Inc, etc. are the prominent players focussing and investing on research and development.

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?