Chloroquine Market to Witness Significant Growth During Forecast Period

Increasing use of chloroquine for treatment of various diseases to drive growth of global chloroquine market

According to TechSci Research report, “Global Chloroquine Market By Type (Injectables, Capsules, Tablets), By Route of Administration (Oral v/s Intravenous), By Dosage (5mg, 500mg, 1000mg), By Application (Arthrophlogosis, Malaria, COVID-19, Others), By Region, Forecast & Opportunities, 2030”, the global chloroquine market is expected to grow at a formidable rate during the forecast period on account of the growing use of the drug in treating various diseases especially as a treatment option to treat the novel coronavirus disease. Though, it has not been proven clinically that the drug can be used to treat coronavirus, but it has been identified that the drug is helpful in improving the early symptoms of the disease especially the respiratory problems. Additionally, the drug is generic, hence potentially affordable and scalable for the treatment of various diseases. However, associated side effects of the drug such as headache, loss of appetite, diarrhea, hair loss, mood swings, among others are expected to hamper the growth of the market during the forecast period.

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The global chloroquine market is segmented based on type, route of administration, dosage, application and region. Based on type, the market can be categorized into injectables, capsules and tablets. The tablets segment is expected to dominate the market during forecast period since tablets are easily available at affordable prices, durable and have a longer shelf life and are also chewable. Additionally, tablets can accommodate high doses of active ingredients. Moreover, the tablets can be split or broken down and then consumed. Furthermore, these are available in various variable deliverable forms such as quick release, delayed release, among others. Based on route of administration, the market can be bifurcated into oral and intravenous. The oral segment is expected to dominate the market since the drug is generally consumed orally in the form of tablets or capsules. Based on application, the market can be categorized into arthrophlogosis, rheumatoid arthritis, malaria, COVID-19 and others. The COVID-19 segment is expected to register the highest growth during forecast period since it has been identified that the drug can be used to treat the disease, though not proven clinically. Additionally, studies suggest that it is helpful in treating some symptoms of the disease and is being used widely in the treatment guidelines of COVID-19. Countries such as China, South Korea and Belgium have added chloroquine in their coronavirus disease treatment guidelines. Also, studies suggest that the drug has been helpful in treating few cases of the disease in France. Clinical trials are going on rigorously, but nothing has been proven clinically or approved by the FDA.

ARTECEF B.V., Fishman Chemical, LLC, Uniprix Inc., Bayer AG, Abcam Inc., Recipharm, Teva Pharmaceuticals, Mylan NV, Abbott, Novartis AG and others are some of the leading players operating in global chloroquine market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. Recently, Mylan NV restarted the production of chloroquine after the news of its use as a potential treatment for novel coronavirus disease. Additionally, companies such as Bayer AG and Teva Pharmaceuticals have donated around 3 million chloroquine tablets to the U.S. for using it in the treatment of COVID-19.

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“Asia Pacific is expected to register significant growth in the chloroquine market during the forecast period, owing to the use of drug for treating various diseases in the region. Additionally, the drug is being used in the coronavirus treatment guidelines in various countries such as China and South Korea in the region. If it gets proven clinically that the drug can be used for the treatment of COVID-19, then this is expected to create lucrative opportunities for the market players over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Chloroquine Market By Type (Injectables, Capsules, Tablets), By Route of Administration (Oral v/s Intravenous), By Dosage (5mg, 500mg, 1000mg), By Application (Arthrophlogosis, Malaria, COVID-19, Others), By Region, Forecast & Opportunities, 2030” has evaluated the future growth potential of global chloroquine market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global chloroquine market.

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