Global HIV Drugs Market
As stated in our extensive report; the Global HIV Drugs Market accounted for USD 31.3 Billion in the year 2021 and is forecast to reach USD 40.3 Billion by 2028 at a CAGR of 3.7%.
The chronic and potentially fatal human immunodeficiency virus (HIV) can be spread from one person to another through sexual contact and blood-to-blood contact. It is a virus that targets CD-4 cells, immune cells that help the body fight infections and other disorders. The demand for HIV medications has increased over time as HIV disease prevalence has increased globally. HIV medications assist in preventing HIV from replicating, lowering the risk of transmission.
Click To Get a Free Sample On the Research Study
HIV testing was hampered by COVID-19 lockdowns and other limitations, which in many nations resulted in sharp decreases in diagnoses and recommendations for HIV treatment. By interrupting and restarting the drug supply, the pandemic has impacted the expansion of the HIV drug market. However, the global demand for antiretroviral and antibiotic medications has been tempered by drops in new prescriptions for patients in the US, Europe, and other COVID-affected regions and nations. In the future, it is anticipated that the HIV drug market will be negatively impacted by several factors, including suppliers’ failure to deliver ARVs (antiretroviral drugs) on time, the suspension of land and air transportation services, and countries’ limited access to health services due to the pandemic.
Key factors influencing HIV Drugs Market Growth
- As more individuals learn about the virus and its available pharmacological therapies, the number of people undergoing HIV therapy is rising. For instance, antiretroviral medication (ART) was provided to 28.2 million HIV patients worldwide in 2020. The amount has increased by 1.6 million since 2017.
- The factor accelerating the market expansion is also the development of HIV medications, as well as clinical studies, commercial launches, and related medical activities. For instance, the biotech business reports that in January 2022, human clinical trials for a novel human immunodeficiency virus vaccine that uses the same mRNA technology as Moderna’s successful COVID-19 vaccine have started.
- Lupin introduced Emtricitabine and Tenofovir Disoproxil Fumarate pills for treating HIV-1 infection on the American market in June 2021. The pharmaceutical company’s product is a generic version of Gilead Sciences, Inc.’s Truvada pills, combined with other antiretroviral medications to treat HIV-1 infection. Hence, the market is being helped to expand by these aspects.
- Acquired immunodeficiency syndrome (AIDS), one of the most severe and chronic diseases, is brought on by the human immunodeficiency virus. The Human Immunodeficiency Virus (HIV) will infect around 37.7 million persons worldwide in 2020, according to the World Health Organization (WHO).
- Also, the HIV government estimates that 1.2 million persons in the US are HIV-positive. A third of them need testing since they are not aware of it.
- 2019 saw an estimated 34,800 new HIV infections in the US. Following a period of very stable growth, the number of new HIV infections decreased by 8%, from 37,800 in 2015 to 34,800 in 2019. HIV was diagnosed in 36,801 people in the US and six dependent regions in 2019, a 9% decrease from 2015.
- Human immunodeficiency virus diagnoses do not occur equally in all states and areas. As a result, more people are becoming aware of the issue, which has increased the number of testing procedures. As a result, there is a greater need for high-potency HIV medications to treat and control the illness.
- Moreover, the market is being impacted by a rise in government initiatives designed to increase public understanding of the causes, symptoms, and drug treatment options. For instance, India’s comprehensive HIV/AIDS drugs prevention and control program, the National AIDS Control Programme (NACP), started in 1992.
- With greater involvement of NGOs and PLHIV networks, the emphasis has changed from raising awareness to behavior modification, from a national response to a more decentralized response, and from an effort to respond to a more decentralized response.
- However, the market’s expansion is hampered by government regulations limiting the approval and distribution of anti-HIV drugs and HIV adverse effects.
North America Region to Lead the Market
North America HIV Drugs market is getting more significant with maximum market share during the forecast period. The domination of this area is due to the increased incidence of HIV infection among Americans. By the end of 2018, the Centers for Disease Control (CDC) predicted that approximately 1.2 million persons were HIV positive. Such a sizable patient population substantially increases the need for HIV drugs. Another factor affecting the development of the area is public awareness. Significant firms offering cutting-edge HIV drugs to treat HIV infection would also hasten market growth.
The rising prevalence of HIV/AIDS and an increasing number of new product launches and rising drugs positively influence the overall HIV Drugs market.
Some of the key players in the Global HIV Drugs Market include- ViiV Healthcare (U.S.), Gilead Sciences Inc. (U.S.), Glaxo Smith Kline PLC (U.K.), Merck Sharp & Dohme Corp. (France), Bristol-Myers Squibb Company (U.S.), Janssen Pharmaceuticals Inc and others.