Hydroxychloroquine is anticipated to generate $4.6 billion by 2027

Hydroxychloroquine, and anti-malarial drug, when combined with chloroquine has the potential to be the major game-changer in the medical history. In certain small and vitro, uncontrolled or poorly controlled clinical studies, it demonstrated antiviral activity against (SARS–CoV-2) severe acute respiratory syndrome–coronavirus-2. Such researches are considered as hypothesis. However, followed by the tweet of President Trump, it completely changed the scenario of the market, with reports of shortages of the medicine in pharmacies within 24 hours. Amidst the outbreak, certain nations such as the U.S. and India are endorsing its use as preventive measures for COVID-19.

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The growth of the global hydroxychloroquine industry is drive by surge in demand for the medication, which led to hike in production of the drug by the Indian Government. IPCA Laboratories, which have approximately 70% of the market share in this sector in India, has increased its production tenfold. However, the nationwide lockdown acted as a hindrance for growth of the global market. In addition, disruption in logistic chains and less availability of raw materials, which are mostly scoured from China have restrained the market growth. With the initiation of normal operation in China after the lockdown and backward integration of some industry players have helped the market to cope up to a certain extent.

The key players operating in the hydroxychloroquine Industry are: Cadila Healthcare Ltd., Hikma Pharmaceuticals PLC, Ipca Laboratories Ltd., Mylan N.V., Novartis AG, Pfizer Inc., Sanofi S.A., Taj Pharmaceuticals Ltd., Teva Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd., and Zydus Cadila

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