Hydroxychloroquine Market Size, Share, Growth Analysis, By End-User(Hospitals, Specialty Clinics, Homecare, and Others), By Distribution Channel(Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, and Others), By Region - Industry Forecast 2024-2031

Drivers

Increased Demand for Malaria Treatment

• The global demand for hydroxychloroquine as a treatment for malaria continued to drive market growth in 2022. Malaria is a prevalent infectious disease in many parts of the world, particularly in regions such as Sub-Saharan Africa and Southeast Asia. Hydroxychloroquine has been widely used as an effective antimalarial medication. The ongoing efforts to combat malaria and the need for effective treatment options propelled the demand for hydroxychloroquine in 2022.

Rheumatoid Arthritis and Lupus Treatment

• Hydroxychloroquine has been recognized as an essential medication for managing rheumatoid arthritis and lupus, both autoimmune disorders. In 2022, the increasing prevalence of these conditions, particularly among the aging population, drove the demand for hydroxychloroquine. The medication is known for its ability to alleviate symptoms, reduce inflammation, and improve the quality of life for patients with rheumatoid arthritis and lupus.

Restraints

Safety Concerns and Regulatory Restrictions

• One of the significant challenges faced by the hydroxychloroquine market in 2022 was the safety concerns and regulatory restrictions associated with its usage. Studies and reports highlighting potential side effects, including retinal toxicity and cardiac arrhythmias, raised caution among healthcare professionals and regulatory authorities. As a result, there were restrictions on the off-label use of hydroxychloroquine and increased scrutiny of its safety profile.