Hydroxychloroquine Category Overview
The global hydroxychloroquine category is expected to grow at a CAGR of 10.1% from 2023 to 2030. It is anticipated to be driven by the increasing prevalence of diseases like rheumatoid arthritis and malaria in low-income nations, increasing penetration of generic drugs, advancement of medical sciences, research & development in the pharmaceutical sector, increased government and consumer healthcare spending on drugs and medications, rising awareness towards health, and growing population. In addition, the category has witnessed a significant surge in its demand since past few years owing to certain studies that have demonstrated its effectiveness against the COVID-19 virus. As a result, many key players in the market have revamped their production capacity to produce and deliver higher amounts of hydroxychloroquine across the globe.
Order your copy of the Hydroxychloroquine Procurement Intelligence Report, 2023 - 2030 , published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
The category has been witnessing wider adoption of advanced manufacturing technologies, focussed on more effective and connected processes (such as continuous manufacturing), continuous efforts to offer solutions for the development of difficult compounds there in the pipeline (such as solubility enhancement approaches) and development of new technologies which are appropriate for on-demand and personalized medicines (such as 3D printing). Trends pertaining to digital collaboration, predictive approaches and modelling can be witnessed in the pharmaceutical sector owing to fast-paced developments, challenging compounds, and digitalization. Furthermore, there are additional and unique difficulties associated with the growing number of biomolecules in development, such as protein stability and purification.
The category for hydroxychloroquine is mildly fragmented with the presence of a large number of regional and global market players. In addition, majority of these players offer the generic version of hydroxychloroquine and are working to develop novel compounds and chemical entities with the objective of gaining a sizeable market share. As a result, the category is anticipated to turn more competitive due to the robust clinical pipeline and continuous development of generic versions of the drug. Since the competition in the industry is high, the players possess low negotiation capability as the customers can easily switch to a better option depending on the pricing, and the supply capability.
Hydroxychloroquine Procurement Intelligence Report Scope
The Hydroxychloroquine category is expected to have pricing growth outlook of 5% - 10% (Annually) from 2023 to 2030, with below pricing models.
- Cost-plus pricing
- Volume-based pricing
Supplier Selection Scope of Report
- Cost and pricing
- Past engagements
- Productivity
- Geographical presence
Supplier Selection Criteria of Report
- Years in service
- geographic service provision
- regulatory compliance
- product specification & quality
- product safety
- import/export documentation
- supply integrity & consistency
- lead time
- production capacity
- others
Hydroxychloroquine Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
- Market Intelligence along with emerging technology and regulatory landscape
- Market estimates and forecasts from 2023 to 2030
- Growth opportunities, trends, and driver analysis
- Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
- Porter’s 5 forces
- Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
- Engagement and operating models, KPI, and SLA elements
- LCC/BCC analysis and negotiation strategies
- Peer benchmarking and product analysis
- Market report in PDF, Excel, and PPT and online dashboard versions
Hydroxychloroquine Procurement Cost and Supplier Intelligence
Cost of raw materials (active pharmaceutical ingredients), labor costs, and cost of machinery are the major key cost components of this category. Businesses in the industry generally use cost-plus and volume-based pricing models for the drugs being offered to the clients. In the U.S., the pricing of drugs by pharmaceutical manufacturers is largely uncontrolled, and they frequently have the ability to raise prices above inflation rates. As a result, even when there is minimal demand for one or more products, drug manufacturers can consistently raise their revenue. Whereas, in India, the IPA (Indian Patent Act) regulates the pricing and states that the price of a drug may not exceed production costs plus 25% of the manufacturer's net profit after taxes. Key factors that affect the pricing of each drug include the effectiveness of the drug, competition in the market, and the uniqueness of the respective drug.
North America dominates the global hydroxychloroquine category, holding over 45.4% of the market share. The industry in the region is being driven due to advanced healthcare infrastructure and significant product manufacturing capability which is supplemented by the availability of qualified workforce and higher investments in research & development. In addition, Asia-Pacific is being witnessed as the fastest-growing region due to lack of disease awareness in some impoverished areas, which is causing the patient base to grow. Due to higher domestic demand, India dominates the global market in terms of production capacity, accounting for over 69.9% of global production with an annual production capacity of over 479 tons. Furthermore, assessing supply chain risks (geopolitical risks, issues pertaining to quality control and supply disruption), evaluating supplier’s capacity and scalability (whether they can meet the demand and scale the production if required), ensuring that the supplier has stringent quality control process, and negotiating prices & terms with suppliers are some of the best sourcing practices considered in this category.
List of Key Suppliers
- Actiza Pharmaceutical Private Limited
- Bayer AG
- Bliss GVS Pharma Limited
- Cipla Inc.
- GeoVax, Inc.
- Ipca Laboratories Ltd
- Lupin Limited, Pfizer Inc.
- Sanofi SA
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
- Zydus Lifesciences Limited
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Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
