Hydroxychloroquine Sulfate Market Size, Share, Growth, and Industry Analysis, By Type (Synthesis Caffeine Powder and Natural Caffeine Powder), By Application (Food & Beverage, Pharmaceutical, and Others), Regional Forecast To 2031

Hydroxychloroquine Sulfate Market Report Overview

• 
•  Request a Free Sample to learn more about this report

The global hydroxychloroquine sulfate market size is USD 897.5 million in 2022 the market is expected to reach USD 1,040.08 million in 2030, exhibiting a Compound annual growth rate (CAGR) of 1.9% during the forecast period. The sudden rise in CAGR was brought on by the market's expansion and the demand levelling down after the pandemic is over.

Generally, hydroxychloroquine sulfate is used to combat and treat malaria. HCQ Sulfate is a potent antimalarial agent which inhibits the parasite from creating haemoglobin. However, it may also be used to treat other conditions, such as lupus or atrophic arthritis. This medication is available as an associated oral medication and will be smitten with food or milk so as to minimalize the probability of symptoms. Though, its purchase is strictly restricted ever since it is considered for the treatment of the newly discovered disease COVID-19. A number of pharmaceutical companies have increased the production capacity of Hydroxychloroquine drugs to meet the high demand during the global pandemic outbreak.

COVID-19 Impact: Pandemic Compel Companies to Put Off Operations Due to Market Restrictions

The COVID-19 pandemic has been an unprecedented event that collapsed the entire world’s healthcare system. As various drugs were being tested to treat coronavirus disease, the hydroxychloroquine sulfate drug has been found beneficial in the coronavirus treatment to some extent. Despite restrictions on manufacturing industries, the pharmaceutical industry was permitted to manufacture hydroxychloroquine sulfate to fulfill the demand for the drugs. Therefore, the demand for hydroxychloroquine sulfate has augmented during the pandemic.  

Latest Trend

"Increasing R&D Activities and Trends of Generic Drugs to Force Market Growth"

The hydroxychloroquine sulfate has been exponentially growing over the last few years. In recent years, research and development activities have been growing rapidly. After the COVID-19 pandemic, the market has accelerated owing to the high effectiveness of HCQ in the coronavirus diseases. Which opened the opportunities for the hydroxychloroquine market growth. In February 2022, Accord Healthcare Inc., introduces first-to-market hydroxychloroquine sulfate tablets in new strengths in the U.S. Hyloncycloquine, the generic version of Plaquenil is used predominantly for treating rheumatoid arthritis, lupus, and malaria. Accord is devoted to meeting patients' unmet needs for the proper dosage of important medicines in the United States through the development and commercialization of these unique capabilities. Accord has also released 200mg tablets of Hydroxychloroquine previously.

Hydroxychloroquine Sulfate Market Segmentation

• 
•  Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be split into USP Standards Grade, EP Standards Grade, Pharmaceutical Standards Grade, and others.

• By Application Analysis

Based on application, the market can be divided into Rheumatoid Joint, Adolescent Chronic Joint, Discoid and Systemic Lupus Erythemato Sus, and Skin Lesions

Driving Factors

"Advantages of Hydroxychloroquine sulfate in Combat Various Diseases to Boost Market Growth "

Hydroxychloroquine sulfate is mainly used in the treatment of malaria and is one of the oldest prescribed drugs for malaria by doctors. Along with this, the drug is effective in treating Type -1 & Type-2 Diabetes, treats skin problems and swelling, prevents stomach upset, and treats severe acute respiratory ailments. Hence, the demand for HCQ is expected to spur the Hydroxychloroquine sulfate market growth in the pharmaceutical industry during the forecast.

"Inclination of better healthcare infrastructure & Rising Cases of Diseases to spur Market Evolution"

The hydroxychloroquine sulfate has many driving factors, apart from its benefits, the market can also be driven by the growing development in healthcare infrastructure facilities, and expenditure particularly in developing nations that will impact the HCQ sulfate market growth. Along with this, the growing number of juvenile arthritis disease cases, autoimmune diseases, and the expanding therapeutic use of hydroxychloroquine sulfate in numerous applications are projected to drive the hydroxychloroquine sulfate market growth.  

Restraining Factors

"Serious Side Effects of Hydroxychloroquine Can Halt Market Expansion"

The hydroxychloroquine sulfate has many limitations to growth. A study by the European Drug Agency claims chloroquine and hydroxychloroquine could create heartbeat issues if they are combined with other medicines that have comparable effects, such as azithromycin, an antibiotic. There have been recent reports linking chloroquine or hydroxychloroquine to significant, and in some cases fatal, heartbeat abnormalities, especially when taken in high doses or combined with azithromycin. This can hinder the market’s growth rate.

Hydroxychloroquine Sulfate Market Regional Insights

• 
•  Request a Free Sample to learn more about this report

"Advanced Healthcare Infrastructure & Policies Propel Market growth in North America"

In respect of regional insights, the hydroxychloroquine sulfate market is mainly dominated by North America. The extensive healthcare infrastructure, and advanced product manufacturing units in the region, along with, the high expenditure of the healthcare system for research and development assists the region to lead the market growth. However, the Asia Pacific is projected to expand the market throughout the forecast period. As the Asian developing nations are improving their healthcare infrastructure, increasing expenditure, and rising production of generic drugs in the region reinforces the market growth in the near future.

Key Industry Players

"Key Players Emphasis on tactics to Lead Market Expansion"

With regard to key players of the industries, the prominent market players are strengthening their strategies to beat the market competition, product enhancement, finance policies, production capacities, high investment in research and development, product launches, collaborations, acquisition & mergers. The hydroxychloroquine sulfate market shares are majorly held by the top key players such as Sandoz, TEVA, Mylan, HIKMA, and others. In addition, these key players stimulate market growth through technological advancement and global presence.

LIST OF TOP HYDROXYCHLOROQUINE SULFATE COMPANIES

• Sandoz
• TEVA
• Mylan
• HIKMA
• IPCA
• Jiangsu Shenhua Pharmaceutical
• Sanofi
• TAJ Pharma
• Shanghai Zhongxisanwei
• Wuhan Wuyao Pharmaceutical

Report Coverage

This report concentrates on the Hydroxychloroquine sulfate size, share, growth rate, segmentation by type, application, key players, and previous and current market situations. The report also provides market experts’ precise data and forecasts. Additionally, it describes the pattern of this industry’s monetary performance, investments, progress, modernization marks, and new product launches by the top companies and offers ideas into the current market structure, competitive analysis based on key players, key driving aspects, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s impacts on international market restrictions and a deep knowledge of how the industry will overcome, and strategies are also included in the report. The competitive landscape has also been considered in detail to provide an explanation of the competitive landscape. It also monitors key trends related to the hydroxychloroquine sulfate market, along with scrutinizing aspects such as production capacity utilization rate and regulatory policies on these chemicals in different countries.

The report also discloses the research on the basis of methodologies that explain price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales & production. Besides, all the significant factors that stimulate the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the main business players have been defined in detail. This analysis is subject to modification if the key players and possible analysis of market dynamics change.