The global hydroxychloroquine plaquenil market is anticipated to grow at a significant 6.8% CAGR during the forecast period (2022-2028). An increase in malaria cases, which leads to the manufacture of more medicine around the globe, is a major driver driving the market’s rise. According to figures published by the World Health Organization (WHO), there were an anticipated 241 million cases of malaria globally in 2020, with an estimated 62,7000 deaths. As a result, the use of the hydroxychloroquine plaquenil medication aids in the reduction of fatality rates.
It has antimalarial as well as antirheumatic effects. It’s also often used to treat rheumatoid arthritis (RA). Rheumatoid arthritis is likely to dominate the global hydroxychloroquine plaquenil medications market over the forecast period. This is attributed to an increase in the prevalence of rheumatoid arthritis, which causes joint pain, swelling, and stiffness, as well as continuous discomfort and inability to carry out daily tasks, hence fueling hydroxychloroquine plaquenil industry growth.
The anti-parasite and immunosuppressive drug hydroxychloroquine are used to treat or prevent malaria. In recent years, malaria has become more frequent in the Asia-Pacific emerging countries. India is the country having the most malaria cases in the region. According to WHO, India has 15 million cases of malaria with 19,500–20,000 deaths annually vs. ∼2 million cases and 1,000 deaths reported. Hence, create demand for malaria treatments.
Some major players in the market include Zydus Lifesciences Ltd., Sanofi S.A., Ipca Laboratories Ltd., Novartis International AG, Teva Pharmaceutical Industries Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, Zydus Lifesciences Ltd. offers ZY-Q 200 Tablet, Rheumatoid arthritis, and systemic lupus erythematosus are two autoimmune diseases that are treated with ZY-Q 200 Tablet. It aids in the reduction of discomfort, swelling, and redness while also slowing the progression of the ailment.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Zydus Lifesciences Ltd., Sanofi S.A., Ipca Laboratories Ltd., Novartis International AG, Teva Pharmaceutical Industries Ltd., among others.
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Global Hydroxychloroquine Plaquenil Market Report by Segment
By Application
- Malaria
- Lupus Erythematosus
- Rheumatoid Arthritis
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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