Hydroxychloroquine & Chloroquine Market: Introduction
- Hydroxychloroquine and chloroquine belong to the antimalarial drug class and are primarily recommended for preventing and treating acute attacks of malaria. This drug is also recommended for the treatment of discoid lupus erythematosus, systemic lupus erythematosus, in rheumatoid arthritis patients, and other autoimmune conditions. Chloroquine is also preferred for the treatment of different type of parasites. The two drugs are administered through the oral route. These drugs are derived from quinoline molecule and have similar clinical indication and side effects. Hydroxychloroquine is widely used as anti-rheumatic, which makes its different from chloroquine. The two drugs vary in terms of therapeutic toxicity and dosage.
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- Recently, the FDA issued guidelines for the usage of hydroxychloroquine and chloroquine for treatment of COVID-19. The benefits and efficacy of hydroxychloroquine and chloroquine in the treatment of coronavirus 2 (SARS–CoV-2) have been identified in the clinical trials carried out in March 2020. However, the data to support this study is limited and the drugs have not been proven completely safe for the treatment of COVID-19.
Key Drivers and Restraints of Global Hydroxychloroquine & Chloroquine Market
- Increase in the export and import of hydroxychloroquine and chloroquine across regions, especially due to COVID-19 pandemic, rise in prevalence of malaria, rheumatoid arthritis, and other autoimmune diseases is projected to drive the global hydroxychloroquine & chloroquine market. Import of hydroxychloroquine & chloroquine drugs in the U.S., Germany, Italy, Spain and other countries in Europe is likely to propel the global market. Increase in incidence of COVID-19 since December 2019 across the globe is a major factor boosting the demand for hydroxychloroquine & chloroquine. According to statistics, there were around 3.45 million confirmed cases of COVID-19 globally as of April 2020, which drives the demand for hydroxychloroquine and chloroquine. On March 28, 2020, the FDA issued emergency use authorization for distribution of hydroxychloroquine and chloroquine to patients suffering from COVID-19 who could not be part of clinical trials.
- According to HHS, Sandoz donated 30 million doses of hydroxychloroquine sulfate to the Strategic National Stockpile and Bayer donated 1 million doses of chloroquine phosphate for patients to manage COVID-19 condition. These are considered potential drugs in treating COVID-19 patients. All the above factors are likely to propel the global hydroxychloroquine & chloroquine market. However, shortage of supply of hydroxychloroquine and chloroquine is projected to restrain the demand for the drugs across the globe.
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North America to Lead Global Hydroxychloroquine & Chloroquine Market
- In terms of region, the global hydroxychloroquine & chloroquine market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to dominate the global hydroxychloroquine & chloroquine market during the forecast period. This is attributed to increase in burden of COVID-19, well-developed health care infrastructure, increase in import of hydroxychloroquine & chloroquine drugs, ongoing clinical trials for these drugs to be potential treatment, and stringent FDA policies. Various agencies are working toward ensuring regular supply of the drugs as per rising demand. This is anticipated to augment the hydroxychloroquine & chloroquine market in the region. Certain research & clinical studies have indicated that the combination of hydroxychloroquine sulfate and azithromycin has shown potential in the treatment of COVID- 19. Recommendation of hydroxychloroquine and chloroquine for the treatment of rheumatoid arthritis, systemic lupuserythematosus (SLE), and other autoimmune diseases is expected to augment the hydroxychloroquine & chloroquine market in the region.
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- Europe was the second largest market for hydroxychloroquine and chloroquine in 2019, followed by Asia Pacific. Rise in demand for these drugs due to the COVID-19 pandemic is likely to boost the growth of the hydroxychloroquine & chloroquine market in Europe. Moreover, increase in cases of rheumatoid arthritis and other autoimmune condition is projected to fuel the growth of the hydroxychloroquine & chloroquine market in Europe. The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period, owing to COVID-19 pandemic and export of hydroxychloroquine & chloroquine to developed countries. India is considered the largest exporter of hydroxychloroquine and chloroquine owing to large production and streamlined supply chain.
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Key Players Operating in Global Hydroxychloroquine & Chloroquine Market
The global hydroxychloroquine & chloroquine market is fragmented, with the presence of large number of players. Major players operating in the global hydroxychloroquine & chloroquine market are:
- Zydus Cadila
- Prasco Laboratories
- Sandoz International GmbH
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Sanofi
- Bristol-Myers Squibb
- Janssen Global Services, LLC
- AstraZeneca
- Other Prominent Players
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