Research Nester released a report titled “Hydroxychloroquine Suphate Market: Global Demand Analysis & Opportunity Outlook 2026” which delivers detailed overview of the global hydroxychloroquine sulfate market in terms of market segmentation by type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Hydroxychloroquine sulphate, also known as hydroxychloroquine, is an antimalarial medication certified and approved for pharmaceutical use for the treatment and prevention of certain types of diseases such as malaria, systemic lupus erythematosus, and rheumatoid arthritis among several others. The market for hydroxychloroquine sulfate is projected to grow at a CAGR of 5.7% during the forecast period, i.e, 2020-2026. The market is anticipated to attain a significantly high market value of USD 1,405.7 million by the end of 2026. The market is segmented by type, by application and by region, out of which the segment for type is further segmented into USP standard grade, EP standard grade, pharmaceutical standards grade and others. The segment for USP standards grade is predicted to hold the largest share in the market with a market value of around USD 496.4 million by the end of 2026. In addition to this, this segment is projected to grow with the highest growth rate over the forecast period.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market for hydroxychloroquine sulphate in Asia Pacific is estimated to hold the leading share in the market as a result of increasing research and development activities for the manufacture and marketing of this drug. In the Asia Pacific region, the market in China is predicted to hold the largest share in the global market by attaining a value of USD 305.0 million by 2026.
Growing Elderly Population to Drive the Market Growth
According to a report by the United Nations, approximately 962 million people globally were aged above 60 years in 2017, which is expected to be double by the end of 2050. The increasing incidences of rheumatoid arthritis and other such diseases which require hydroxychloroquine for treatment are anticipated to boost the market growth in the coming years. However, there are several substitutes for hydroxychloroquine available in the market, which can cure the conditions in a better way and thus are estimated to restrict the market growth.
This report also provides the existing competitive scenario of some of the key players of the global hydroxychloroquine sulfate market which includes company profiling of Sandoz International Gmbh, Teva Pharmaceutical Industries Ltd. (TLV: TEVA), Mylan N.V., Hikma Pharmaceuticals Plc, Ipca Laboratories Limited, Shanghai Pharmaceutical Group Co., Ltd., Jiangsu Shenhua Pharmaceutical Co., Ltd., Sanofi S.A. (EPA: SAN), Taj Pharmaceuticals Limited and Cinkate Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hydroxychloroquine sulfate market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.