Hydroxychloroquine Global Market 2024 To Reach $2.86 Billion By 2028 At Rate Of 6.6%

The Business Research Company's Hydroxychloroquine Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 7, 2024 /EINPresswire.com/ -- The hydroxychloroquine market has experienced robust growth in recent years, expanding from $2.07 billion in 2023 to $2.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising prevalence of malaria, growing awareness of hydroxychloroquine, wide availability, and autoimmune diseases.

Strong Future Growth Anticipated
The hydroxychloroquine market is projected to continue its strong growth, reaching $2.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to growing demand for combination therapies, increased government funding, growing patient population, increased access to healthcare, growing demand for personalized medicine.

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Growth Driver Of The Hydroxychloroquine Market
The growing cases of rheumatoid arthritis are expected to propel the growth of the hydroxychloroquine market going forward. Rheumatoid arthritis refers to an autoimmune and inflammatory condition where the immune system knowingly harms healthy cells in the body, leading to inflammation in the body areas affected. Hydroxychloroquine is beneficial for rheumatoid arthritis treatment as it can help reduce inflammation and alleviate symptoms, improving the overall quality of life for many patients.

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Major Players And Market Trends
Key players in the hydroxychloroquine market include Bayer AG, Dr. Reddy's Laboratories Ltd., Zydus Group, Ipca Laboratories Ltd., Wallace Pharma, Teva Pharmaceuticals Inc., Mylan Pharmaceuticals Inc.
Major companies operating in the hydroxychloroquine market are investing in the development of hydroxychloroquine to meet the growing demand for hydroxychloroquine and expand their product portfolios.

Segments:
1) By Drug Activity: Anti-Malarial Drug, Anti-Rheumatic Drug, Lupus Suppressant Drug, Anti COVID-19 Drug, Other Drug Activity
2) By Formulation: Tablets, Injection
3) By Application: Malaria, Rheumatoid Arthritis, Lupus Erythematosus, COVID-19, Other Applications
4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Specialty Drug Stores, Retail Pharmacy

Geographical Insights: North America Leading The Market
North America was the largest region in the hydroxychloroquine market in 2023. Middle East is expected to be the fastest-growing region in the hydroxychloroquine market report. The regions covered in the hydroxychloroquine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Hydroxychloroquine Market Definition
Hydroxychloroquine refers to a quinolone-derived medication that is used to treat malaria. In countries or regions where it is recognized that other medications (such as chloroquine) may not be effective, it is also used to prevent malaria infection. In some hospitalized individuals, hydroxychloroquine may also be used to treat COVID-19 (COVID-19).

Hydroxychloroquine Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Hydroxychloroquine Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on hydroxychloroquine market size, hydroxychloroquine market drivers and trends, hydroxychloroquine market major players, hydroxychloroquine competitors' revenues, hydroxychloroquine market positioning, and hydroxychloroquine market growth across geographies. The hydroxychloroquine market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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