In the wake of the worsening coronavirus pandemic, hydroxychloroquine has been touted as a key drug in the treatment and eradication of COVID-19. As a result, the demand for hydroxychloroquine has skyrocketed in the past few weeks. The United States alone has generated significant demand for 20 million hydroxychloroquine pills, amounting to 4 tons. Moreover, the global demand for hydroxychloroquine is anticipated to surge amid the rapidly increasing COVID-19 infections. In 2020, from January to April, India has exported hydroxychloroquine API (active pharmaceutical ingredient) worth US$ 1.2 Bn. Attributed to above-mentioned facts global hydroxychloroquine market is estimated to experience a year on year growth of over 100% by the end of 2020.
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Key Takeaways of Hydroxychloroquine Market Study
- Due to skyrocketing demand for hydroxychloroquine, the global hydroxychloroquine market is expected to create a value opportunity of around US$ 2.3 Bn by the end of 2020.
- The coronavirus pandemic has spiked the prices of API (active pharmaceutical ingredients) which is set to increase the market value by 2X through 2020.
- Based on drug type, anti-rheumatic drug has dominated the consumption of hydroxychloroquine in 2018 and is poised to account for nearly half of the market share by 2030.
- Due to the high prevalence of rheumatoid arthritis and systemic lupus erythematosus, United Stated is projected to remain a highly lucrative region during the forecast period.
- In terms of production, currently, India accounted for nearly half of the global production in 2019.
Key Segments Covered
- Anti-malarial Hydroxychloroquine Drug
- Anti-rheumatic Hydroxychloroquine Drug
- Lupus Suppressant Hydroxychloroquine Drug
- Anti COVID 19 Hydroxychloroquine Drug
- Other Hydroxychloroquine Drugs
Prominent hydroxychloroquine providers are reliant on partnerships, collaborations, acquisitions, and new software launches so as to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.
- On March 5th, 2021, Aspen Pharmaceutical Corporation received R $20 Billion from BNDES in connection with its hydroxychloroquine manufacturing. A total of R $ 153 Billion was invested in research activities and expanded production capacity by the company in 2020 as part of two loan agreements with BNDES. Two firms had already reached several agreements concerning the manufacture of drugs on the market.
- In July 2021, Sanofi and Asahi Kasei Pharma signed a license agreement to transfer sales rights for Plaquenil tablets 200 mg, an immunomodulator in Japan. The merger centered on treating cutaneous lupus erythematosus and systemic lupus erythematosus in Japan. Upon the execution of the agreement, the company will transfer the marketing rights to Plaquenil® to Asahi Kasei Pharma on October 1, 2021