- Increase in the number of people with autoimmune diseases is driving the sales growth in the hydroxychloroquine drugs market
- The presence of many research institutes makes North America leading region in the market
ALBANY, N.Y., May 26, 2022 /PRNewswire/ -- Analysts at Transparency Market Research (TMR) state that the global hydroxychloroquine drugs market is estimated to register growth at a CAGR of 10% during the forecast period, 2020-2030.
Players operating in the hydroxychloroquine drugs market are increasing investments in R&D projects in order to develop products with improved efficiency. Moreover, several hydroxychloroquine drugs manufacturers are taking ques from different organizations such as WorldWide Antimalarial Resistance Network (WWARN), which is helping study groups that deliver a pooled assessment of the safety and efficacy of hydroxychloroquine drugs. This aside, leading companies in the hydroxychloroquine drugs market are focusing on advancing their output capacities in order to fulfil the rising demand for drugs required in systemic lupus erythematosus treatment. Such initiatives are expected to help in the rapid growth of the global hydroxychloroquine drugs market during the forecast period.
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Hydroxychloroquine Drugs Market: Key Findings
- According to different studies into the extensive effects of hydroxychloroquine (Plaquenil), the drug offers several benefits such as reduction in the number of antigen-presenting cells in the skin and decrease in disease flares. This factor is expected to drive the demand opportunities in the hydroxychloroquine drugs market during the forecast period. Plaquenil has gained traction in the healthcare industry and is being utilized as a disease-modifying anti-rheumatic drug across the globe. Over the period of past few years, there has been notable increase in the use of Plaquenil for effective management of pain and swelling in arthritis. Rise in the number of people suffering from joint pain together with long-term disability in people is resulting into a largest opportunity for hydroxychloroquine drugs market. Hence, the global market for hydroxychloroquine drugs is prognosticated to exceed a valuation of US$ 1.9 Bn by 2030.
- The use of Plaquenil individually or in combination with azithromycin is found to be effective in reducing levels of virus rapidly. Owing to these findings, many drug regulators from different nations globally are providing approval for the drug in restricted settings. Moreover, hydroxychloroquine is being increasingly utilized owing to its ability to prompt a hyperactive response by the immune system, which can result into reduced symptoms of health disorders. Owing to these factors, the global hydroxychloroquine drugs market is anticipated to gain sizable growth opportunities during the forecast period.
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Hydroxychloroquine Drugs Market: Growth Boosters
- Rising prevalence of malaria is expected to result into increasing market demand for hydroxychloroquine drugs
- Surge in the number of people suffering from arthritis globally is leading to increase in the revenue of hydroxychloroquine drugs market
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Hydroxychloroquine Drugs Market: Regional Analysis
- The hydroxychloroquine drugs market in North America is prognosticated to gain prominent growth prospects during the forecast period owing to factors such as existence of large-scale research institutes, surge in understanding pertaining to the drug safety, and presence of stringent government regulations in the region
- The Asia Pacific market is gaining profitable prospects owing to rise in the government initiatives in order to advance the regional healthcare infrastructure and presence of favorable business environment in the region. In addition, a surge in the focus of leading players on the R&Ds is prognosticated to result into the hydroxychloroquine drugs market expansion during the forecast period.
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Hydroxychloroquine Drugs Market: Key Players
Some of the key players profiled in the report are:
- Amneal Pharmaceuticals, Inc.
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Zydus Cadila
- Novartis AG
- Sun Pharmaceutical Industries Ltd.
- Dr. Reddy's Laboratories Ltd.
- Prasco Laboratories
- Lupin Limited
Hydroxychloroquine Drugs Market Segmentation
- Rheumatoid Arthritis
- Systemic Lupus Erythematosus
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
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