HIV Drugs Market Analysis
The global HIV drugs market can reach a valuation of USD 32.78 billion by 2025. It is predicted to expand at a CAGR of 5.85% over the forecast period. HIV drugs are medicines prescribed to patients diagnosed with HIV as part of their treatment. The drugs are known as antiretrovirals. The global HIV drugs market report by Market Research Future (MRFR) takes into consideration the various developments in drugs and treatment for the disease and projects revenue and growth estimations for the period of 2019 to 2025 (forecast period). It even takes into view the impact of COVID-19 and its aftermath on the production cycle of branded and generic drugs.
Major factors driving market growth are high prevalence of HIV infections and awareness of new treatment for HIV. In 2018, the number of HIV patient numbers had inflated to 1.7 million. Owing to awareness of treatment for HIV, the rise in number of individuals undergoing treatment has shot up. Nearly 23.3 million patients are undergoing antiretroviral therapy (ART) in 2018. Approval of new drugs by drug regulatory bodies as well as suggestion for combinations of treatment can fuel HIV drugs market sales.
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Launch of new drugs for lowering treatment costs and providing relief to patients will be lucrative for the market in the long run. Other factors to encourage growth include research and development into new drugs, clinical trials for said drugs, and rise in government initiatives for creating awareness of the disease and its existing treatment options. But product recalls and strict regulatory policies can restrain HIV drugs market growth.
HIV Drugs Market Segmentation
The global HIV drugs market has been segmented by type and end-user.
By type, HIV drugs market is segmented into CCR5 antagonist, integrase inhibitors, protease inhibitors, fusion inhibitors, post-attachment inhibitor or monoclonal antibody, nucleoside/nucleotide reverse transcriptase inhibitors (NRTIs), and non-nucleoside reverse transcriptase inhibitors (NNRTIs). NRTIs accounted for a large market and predicted to dominate the market till 2023. These drugs prevent HIV’s transcriptase from copying its RNA into DNA of the human body. Launch of generic drugs by prominent pharmaceutical bigwigs such as Lupin can drive the segment growth. Protease inhibitors can capture a major chunk of the global HIV drugs market owing to its ability to prevent HIV from infecting other healthy cells.
By end-user, HIV drugs market is divided into specialty centers and hospitals & clinics. Hospitals & clinics held the largest market share and will continue its dominant streak owing to patients coming to hospitals for first-hand diagnosis and treatment options. On the other hand, specialty centers can also encourage growth of the global HIV drugs market by providing treatment entirely on HIV.
HIV Drugs Market Regional Analysis
Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are regions taken into consideration with respect to the global HIV drugs market.
Americas held the largest market share owing to the huge prevalence of AIDS in cities. Development of long-acting drugs for preventing the chances of HIV infections among the unaffected will facilitate market growth. In addition, the mutated versions of HIV strains which are resistant to existing drugs are concerning to patients.
APAC is expected to display the fastest growth rate during the forecast period owing to a significant HIV patient pool and awareness of HIV treatment options. The outbreak of the COVID-19 pandemic has led to medical regulatory bodies for relying on HIV drugs in combination with others for rapid recovery of patients. In April 2020, the Indian Council of Medical Research (ICMR) has decided to use HIV drugs in combination with FDA approved drugs for preventing replication of the COVID-19 virus in humans.
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HIV Drugs Market Competition Outlook
Gilead Sciences, Inc., Boehringer Ingelheim International GmbH, Aurobindo Pharma, Pfizer Inc., ViiV Healthcare, Celltrion Healthcare Co., Ltd, Bristol-Myers Squibb Company, Hoffmann-La Roche Ltd, Cipla Inc., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd, and AbbVie Inc. are key players of the global HIV drugs market.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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