The Total Addressable Market (TAM) for hydroxychloroquine was valued at USD 1.02 billion in 2022. It is projected to reach USD 1.59 billion by 2031, growing at a CAGR of 5.10% during the forecast period (2023-2031).
A safe chloroquine derivative is hydroxychloroquine. Hydroxychloroquine is an immunosuppressive and anti-parasite medication used to treat or prevent malaria, despite being ineffective against chloroquine-resistant malaria. The antimalarial drug hydroxychloroquine has the ability to change the course of medical history when used with chloroquine. Hydroxychloroquine is used for autoimmune illnesses, such as rheumatoid arthritis, and systemic and discoid lupus erythematosus, among others, when existing treatments are ineffective or cannot be administered. The use of broad-spectrum hydroxychloroquine medications is effective against a number of viruses. In a few minor, limited, poorly controlled clinical investigations, it displayed an antiviral effect against the severe acute respiratory syndrome-coronavirus-2 (SARS-CoV-2).
The coronavirus outbreak has killed thousands of people around the world. Medical professionals and virologists are extensively researching the disease. Pharmaceutical companies are also actively engaged in the research and development of vaccines and medications, publicly and privately funded. Although they were important, many doctors first tried to treat COVID-19-positive patients with hydroxychloroquine (HCQ) in combination with other drugs. Additionally, HCQ has been approved as a kind of treatment in China, the virus's original home. Numerous businesses have started a study on HCQ and the COVID-19 patients it affects.
Coronavirus, malaria, rheumatoid arthritis, lupus erythematosus, and porphyria cutanea tarda are among the conditions that HCQ medications treat globally. The medication may have adverse side effects such as headaches, nausea, vomiting, diarrhea, rashes, and appetite loss when used excessively. Long-term use of the drug can also cause mood swings, mental changes, irregular heartbeat, drowsiness, convulsions, decreased consciousness or loss of consciousness, as well as blurred vision, vision changes, seeing light flashes or streaks, difficulty hearing, ringing in the ears, muscle weakness, unusual bleeding or bruising, bleaching or loss of hair, mood or mental changes. Therefore, HCQ is only prescribed for specific conditions. However, even though the medicine should only be used carefully under a doctor's supervision, it is supplied over the counter in nations like India. As a result, HCQ's numerous adverse effects reduce its demand globally, which hinders the market's expansion.
HCQ drugs function by eradicating the root of the infection. HCQ inhibits the infected cells' mitochondrial activity, discouraging further cell division and stopping the infection's spread. According to the studies, HCQ can stop mitochondrial activity, which is the exact mechanism by which it can prevent tumor growth. In addition, HCQ will be used to treat cancer if it is discovered to be a cure, even though the medicine is currently through numerous phase I and II trials to test its efficacy. This is anticipated to provide lucrative prospects for the growth of the global hydroxychloroquine market during the forecast period.
Based on product, the global hydroxychloroquine market is bifurcated into tablets and active pharmaceutical ingredients.
The active pharmaceutical ingredient segment is the major contributor to the market and is estimated to grow at a CAGR of 7.70% during the forecast period. An ingredient or a mixture of ingredients utilized in final or finished goods is an active pharmaceutical ingredient (API). They are designed to be employed in pharmacology experiments to investigate the harmful effects of medicines on living things in the context of different disorders. Developer interfaces examine the factors contributing to the success or failure of various treatment, prevention, diagnosis, and mitigation strategies. Most APIs used in HCQ are produced in Asian nations like China and India. The production of HCQ tablets involves the use of HCQ APIs and is also used to produce tablets to manage lupus erythematosus, rheumatoid arthritis, and cancer.
Many nations recognize HCQ pills (Plaquenil) as a COVID-19 therapy. Although the drug's effects on the patient are still being researched, it is frequently used in most nations as the primary treatment for COVID-positive individuals. The U.S. FDA approved emergency use authorizations (EUA) for chloroquine and HCQ based on preliminary findings since the drugs contain antiviral capabilities. No study has demonstrated the drug's efficacy due to a lack of data. However, randomized controlled trials have shown that COVID-positive patients' respiratory symptoms and pulmonary inflammation are reduced.
Based on disease, the global hydroxychloroquine market is bifurcated into malaria, rheumatoid arthritis, lupus erythematosus, coronavirus, and others.
The malaria segment is the highest contributor to the market and is estimated to grow at a CAGR of 9.20% during the forecast period. The dangerous parasite Plasmodium feeds on mosquitoes to produce malaria. There are five malaria vectors, including Plasmodium falciparum, Plasmodium malariae, Plasmodium vivax, Plasmodium ovale, and Plasmodium knowlesi, of which P. falciparum and P. vivax pose the biggest threat. In 2018, malaria posed a threat to 50% of the world's population, according to WHO. There were 228 million people with malaria infection worldwide in 2018, and 505,000 people died from the disease. Medicines reduce the condition's symptoms and stop it from getting worse. DMARDs block the molecules responsible for inflammation when the immune system attacks the joints to prevent further damage to neighboring bones, tendons, ligaments, and cartilage. HCQ is an anti-inflammatory drug to reduce swelling and pain in the joints. The usage of HCQ in rheumatoid arthritis treatment drives global market expansion.
Joint pain and swelling, fever, chest pain, hair loss, mouth ulcers, swollen lymph nodes, fatigue, and red rashes are some of the symptoms of the illness. There are various types of conditions, and they are each treated differently based on the symptoms they present. Many therapies for the condition are generally recommended, but nonsteroidal anti-inflammatory medications and antimalarials include hydroxychloroquine. Therefore, an essential factor driving the market is the increase in the usage of HCQ in the treatment of lupus erythematosus.
Based on the distribution channel, the global hydroxychloroquine market is bifurcated into hospital pharmacies, online pharmacies, specialty drug stores, and retail pharmacies.
The hospital pharmacy segment owns the highest market share and is estimated to boost at a CAGR of 7.65% during the forecast period. A hospital pharmacy is a specialized industry integral to patient care. These pharmacies supply the medication needs of wards and intensive care units. They also sterilize patient drugs as part of their work. In addition, hospital pharmacies include clinical pharmacies. Following the COVID-19 epidemic, these pharmacies now stock the medications needed for treatment under governmental regulations. In such cases, hospital pharmacists keep emergency medications on hand. They also engage in the sale of over-the-counter medicines.
Maintaining the flow of medications in the market outside of hospital pharmacies is the responsibility of retail pharmacies. They adhere to several norms and rules, such as checking expiration dates, carefully examining prescriptions, and outlining dosage instructions to ensure the safety of the medications. Retail pharmacies are subject to regulations in several nations regarding equipment, storage, and record-keeping procedures. Additionally, these pharmacies make essential medications accessible worldwide, even in rural areas. For instance, in nations like India, government hospital pharmacies and retail pharmacies play a significant role in the accessibility of medicines and drugs.
Some of the elements driving the expansion of online pharmacies include an increase in internet users worldwide, improvements to the healthcare system, and more user knowledge of e-commerce. In addition, a shift in customer behavior brought on by a greater need for convenience is one of the major elements influencing the market's expansion. Additionally, it is anticipated that the e-commerce market will increase and the healthcare business will adopt digital technology faster.
Specialty drug stores, sometimes known as one-stop shops, charge more to provide services to fewer people. In addition to medications, they also offer counseling. The institutions that sell specialized drugs are equipped to manage complicated therapies that call for a high standard of regular check-ups and individualized attention. The immune system generates substances to treat numerous diseases that accidentally assault joints in the human body, producing inflammation and discomfort. The demand for HCQ through this distribution channel is significant to market growth since HCQ is utilized as an anti-inflammatory medicine to treat swelling and joint aches in rheumatoid arthritis.
The global hydroxychloroquine market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 8.30% during the forecast period.The majority of HCQ drugs, whether tablets or APIs, are produced in Asia-Pacific. Nations like China and India contribute around 70% of the world's HCQ production. India alone provided 70% of HCQ tablets throughout the pandemic. In order to fulfill demand from around the world, many businesses in the area have grown their production capacity by a factor of two or more. Demand for HCQ will return to normal after COVID-19 because the WHO still considers southeast Asian countries to have an endemic malaria problem. Additionally, HCQ is a widely produced OTC medicine that is not prohibited in the area.
Europe is expected to boost at a CAGR of 7.90% during the forecast period. Numerous prominent players from Europe are involved in the production of HCQ. For instance, businesses like Hikma, Novartis AG, and Mylan N.V. already manufacture HCQ pills and APIs. Additionally, many businesses have improved their HCQ production capacity to fulfill domestic and international demand. However, debates over the use and efficacy of the medicine HCQ have prompted bans by numerous governments in France, Italy, and Belgium. Several nations continue to employ HCQ as the first treatment choice for COVID-19 patients because of its antiviral properties. The need for HCQ is expected to drop while COVID-19 vaccine development is currently in trial phases II and III.
North America has been most severely affected by the COVID-19 pandemic. The majority of COVID-positive patients have thus far been reported from the United States. During and after the epidemic, it is most likely that demand from the region will increase. The region's market expansion is fueled by significant businesses that can produce tablets or APIs in large quantities. Additionally, due to the high prevalence of COVID-infected patients and rheumatoid arthritis patients, North America is anticipated to see the fastest growth rate during the projection period. The region's nations have given pharmaceutical firms EUAs so they can produce HCQ, which has increased its output.
The demand for HCQ drugs is the largest in the LAMEA region. According to WHO, malaria is still endemic in countries in sub-Saharan Africa. Almost all malaria cases worldwide originate from this region (around 97%). Due to widespread malaria in the area, its economy is in decline. The COVID-19 outbreak substantially worsened the region's economic situation, and the government is battling both simultaneously. Further, since HCQ medications are advised as the first line of treatment for coronavirus, their use has expanded.
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