Hydroxychloroquine Market Achieves Remarkable Growth, Boasting a 5.3% Compound Annual Growth Rate (CAGR) Over 5 Years, Surpassing a Market Value of US$ 2.7 billion by 2029.
The report "Hydroxychloroquine Market, By Disease Type (Coronavirus Disease (COVID-19), Malaria, Q Fever, Rheumatoid Arthritis, Lupus Erythematosus, Porphyria Cutanea Tarda (PCT), and Other Disease Types), By Distribution Channel (Specialty Drug Store, Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
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Key Highlights:
• In March 2020, Novartis announced its commitment to donate up to 130 million doses of generic hydroxychloroquine to support the global COVID-19 pandemic response. Hydroxychloroquine and a related drug, chloroquine, are currently under evaluation in clinical trials for the treatment of COVID-19. Novartis is supporting ongoing clinical trial efforts and will evaluate the needs for additional clinical trials.
• In March 2020, Mylan N.V. has ramped up its U.S. manufacturing of hydroxychloroquine sulfate tablets to meet potential COVID-19 patient needs. Mylan's hydroxychloroquine sulfate tablets are approved by the U.S. Food and Drug Administration (FDA) for the treatment of malaria, rheumatoid arthritis, and lupus erythematosus. Although the product is not currently approved for use in the treatment of COVID-19, it is listed by the World Health Organization as a drug under investigation for efficacy against the coronavirus.
Analyst view:
"According to industry analysts, the hydroxychloroquine market's recent performance is noteworthy. With a robust CAGR of 5.3% over the last five years and a market value reaching US$ 2.7 million, the market has garnered significant attention. Factors such as [mention key factors influencing growth] have contributed to this positive trend, sparking optimism about the market's future trajectory."
Competitive Landscape:
The prominent player operating in the global hydroxychloroquine market includes Novartis International AG, Mylan N.V., Wallace Pharmaceuticals Ltd., Sanofi S.A., Teva Pharmaceutical Industries Ltd., Bayer AG, Zydus Cadila Ltd., Ipca Laboratories Ltd., Cipla Limited, and Lupin Limited.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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