Chloroquine Market by Application and Geography - Forecast and Analysis 2020-2024

The chloroquine market size has the potential to grow by USD 86.12 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by application (malaria, rheumatoid arthritis, and others) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market's competitive landscape. It offers information on several market vendors, including 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.

Market Overview

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Market Competitive Analysis

The chloroquine market is fragmented. The key vendors in the market are focusing on product innovation and R&D activities to expand their geographical reach and increase their market revenue.The overall structure of the chloroquine market is expected to move toward consolidation owing to various commercial and R&D alliances for anticipated launches. Abcam Plc, ADVANZ PHARMA Corp., and Bayer AG are some of the major market participants. Although the multiple indications of chloroquine will offer immense growth opportunities, the presence of chloroquine generic drugs will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this chloroquine market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and provides information on the products offered by various companies. Moreover, this chloroquine market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Abcam Plc
• ADVANZ PHARMA Corp.
• Bayer AG
• Cadila Healthcare Ltd.
• Ipca Laboratories Ltd.
• Mylan NV
• Novartis AG
• Sanofi
• Sun Pharmaceutical Industries Ltd.
• Teva Pharmaceutical Industries Ltd.

Chloroquine Market: Segmentation by Geography

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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.

34% of the market's growth will originate from ROW during the forecast period. Nigeria is the key market for chloroquine in ROW. Market growth in this region will be slower than the growth of the market in other regions

Chloroquine Market: Segmentation by Application

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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.

Market growth in this segment will be slower than the growth of the market in the rheumatoid and other application segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the chloroquine market size.

Chloroquine Market: Key Drivers and Trends

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.

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. In March 2020, Mylan NV restarted the production of hydroxychloroquine sulfate tablets at its West Virginia manufacturing facility in the US to meet the increasing demand resulting from the potential effectiveness of the product in treating COVID-19. 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. As a result of such factors, the chloroquine market will register a CAGR of almost 3%.

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Chloroquine Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive chloroquine market growth during the next five years
• Precise estimation of the chloroquine market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the chloroquine market industry across North America, Europe, and Asia and ROW
• A thorough 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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