LONDON--(BUSINESS WIRE)--The global chloroquine market size is poised to grow by USD 86.12 million during 2020-2024, progressing at a CAGR of almost 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Chloroquine is indicated and approved by the FDA for the treatment of malaria and rheumatic diseases. Thus, the increasing prevalence of malaria will drive the growth of the chloroquine market. The growing prevalence of rheumatic diseases will augment the demand for chloroquine during the forecast period. The treatment of rheumatic diseases is long-term. In January 2020, chloroquine was considered a potential drug candidate for the treatment of coronavirus. The efficacy of chloroquine for the treatment of coronavirus will augment the demand for the drug during the forecast period. The drug has been used for multiple indications, such as malaria and rheumatic diseases, and if successful clinical trials are conducted, it will be indicated for the treatment of coronavirus. This is expected to drive the chloroquine market during the forecast period.
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- The major chloroquine market growth came from the malaria segment. The high prevalence rate of malaria, increasing awareness about the treatment options for malaria, and strong funding by governments and private organizations to eradicate malaria are the main factors driving the growth of the chloroquine market in the malaria segment. The prevalence of malaria in developing countries such as Africa and India will also drive the growth of the market in this segment.
- ROW had the largest chloroquine market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The high prevalence rate of malaria, government initiatives to create awareness about diseases such as coronavirus and malaria, and ongoing clinical trials for coronavirus treatment using chloroquine drug will significantly influence chloroquine market growth in this region.
- The global chloroquine market is fragmented. Abcam Plc, ADVANZ PHARMA Corp., Bayer AG, Cadila Healthcare Ltd., Ipca Laboratories Ltd., Mylan NV, Novartis AG, Sanofi, Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd. are some of the major market participants. To help clients improve their market position, this chloroquine market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the chloroquine market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/chloroquine-market-industry-analysis
Increasing Demand and Production of Chloroquine will be a Key Market Trend
With the outbreak of coronavirus and chloroquine being considered as a potential candidate for the treatment of this pandemic disease, the demand for chloroquine has increased globally. Many key vendors, such as Mylan NV, Novartis International AG, and Teva Pharmaceutical Industries Ltd., have increased the production and manufacturing capabilities for chloroquine. Teva Pharmaceutical Industries Ltd. announced that it would donate more than 6 million doses of hydroxychloroquine sulfate tablets through wholesalers to hospitals across the US to meet the urgent demand for the medicine as an investigational target to treat COVID-19. The company is also making efforts to boost the production of hydroxychloroquine sulfate tablets to meet the growing demand across the world. The growing demand across the world and increasing production of chloroquine by key vendors will boost the growth of the global chloroquine market during the forecast period.
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Chloroquine Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist chloroquine market growth during the next five years
- Estimation of the chloroquine market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the chloroquine market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of chloroquine market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Five Force Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Malaria - Market size and forecast 2019-2024
- Rheumatoid arthritis - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Asia - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Abcam Plc
- ADVANZ PHARMA Corp.
- Bayer AG
- Cadila Healthcare Ltd.
- Ipca Laboratories Ltd.
- Mylan NV
- Novartis AG
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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