The global hydroxychloroquine market size is projected to reach USD 2,339.1 million by the end of 2027. The increasing incidence of COVID-19 infection will bode well for the market in the coming years. According to a report published by Fortune Business Insights, titled “Hydroxychloroquine Market Size, Share & Industry Analysis, By Disease Indication (Malaria, COVID-19, Rheumatoid Arthritis, Others), By Distribution Channel (Hospital Pharmacy Retail Pharmacy, and Online Stores), and Regional Forecast, 2020-2027,” the market was worth USD 894.0 million in 2019 and will exhibit a CAGR of 5.5% during the forecast period, 2020-2027.
Hydroxychloroquine is a drug that is used for treatment of patients suffering from malaria. The drug was initially prescribed for use by leading authorities such as the EU and the Food and Drug Administration for treatment of patients suffering from arthritis as well as autoimmune diseases such as lupus.
March 2020: Mylan N.V announced that it will be increasing its production capacity of hydroxychloroquine to in its West Virginia facility to control the progression of COVID-19 in U.S
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Source: Globenews Wire