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Outbreak of Covid-19 Boosted the Universal Production of HCQ Drugs: Fact.MR Study


A pharmacist holds a bottle of the drug hydroxychloroquine on Monday, April 6, 2020, in Oakland, Calif. President Donald Trump and his administration kept up their out-sized promotion Monday of an anti-malaria drug not yet officially approved for fighting the new coronavirus, even though scientists say more testing is needed before it???s proven safe and effective against COVID-19. Trump trade adviser Peter Navarro championed hydroxychloroquine in television interviews a day after the president publicly put his faith in the medication to lessen the toll of the coronavirus pandemic. (AP Photo/Ben Margot)

As per a recent report published by Fact.MR, the global hydroxychloroquine market is poised to grow at a CAGR of 4% from 2022 to 2032. During the said forecast period, the industry is likely to yield a dollar opportunity worth US$ 3.75 Billion in 2022, expected to close at a valuation of US$ 5.6 Billion.

The prevalence of COVID-19 pandemic and malaria in several countries are likely to provide a pool of growth opportunities for manufacturers of HCQ drugs. During the early days, it was considered as the impact medicine against the covid19, thereby several hospitals burgeoned the usage of HCQ on their patients since the cure wasn’t available.

From 2015 to 2021, the market for Hydroxychloroquine grew at a CAGR of 3%, closing at a value of US$ 5.6 Billion. As of 2022, the industry is likely to reach US$ 3.75 Billion.  Several research institutions are discovering the cure for covid19, although no success yet. The HCQ drugs may impact the heart’s health if taken a high dosage, thereby scientists recommend the controlled usage of these drugs.

Key Takeaways from the Market Study 

“With the ongoing crisis of COVID-19 across the globe, researchers and scientists are working tirelessly to discover the cure of covid-19, thereby fostering the demand for hydroxychloroquine drugs as a primary treatment,” comments a Fact.MR analyst.  

Competitive Landscape 

The global market for hydroxychloroquine is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market.

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More Valuable Insights 

Fact.MR, in its new offering, presents an unbiased analysis of the global Hydroxychloroquine market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Product type (Anti-malarial Hydroxychloroquine Drug, Anti-rheumatic Hydroxychloroquine Drug, Lupus Suppressant Hydroxychloroquine Drug, Anti-COVID 19 Hydroxychloroquine Drug and Other Hydroxychloroquine Drugs) across five major regions (North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa).

 Fact.MR’s Domain Knowledge in Chemical & Materials

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemical & material industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

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