According to a new report published by Allied Market Research, titled, “Global HIV Drugs Market by Medication Class and Region: Global Opportunity Analysis and Industry Forecast, 2020–2027.” The global HIV drugs market accounted for $30.89 billion in 2019, and is expected to reach $36.49 billion by 2027, registering a CAGR of 3.8% from 2020 to 2027.
Human immunodeficiency virus (HIV) is one of the most challenging infectious diseases that affected around 39.6 million people globally by the end of 2018, according to the Joint United Nations Program on HIV/AIDS (UNAIDS). Antiretroviral Therapy (ART) drugs are used for the treatment of HIV as they prevent the growth of the HIV virus.
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The major factors that boost the growth of the market include increase in prevalence of HIV globally and rise in treatment & diagnosis rate. In addition, there is escalation in government initiatives to increase awareness among people about HIV cause, symptoms, available treatment options, and the crucial role of these treatments in the control of HIV virus growth. Therefore, raising awareness through such government initiatives is expected to drive the HIV drugs market growth.
The global HIV drugs market is bifurcated on the basis of medication class and region. On the basis of medication class, the market is segmented into multi-class combination drugs, nucleoside reverse transcriptase inhibitors (NRTIs), non-nucleoside reverse transcriptase inhibitors (NNRTIs), protease inhibitors (PIs), entry inhibitors, and HIV integrase strand transfer inhibitors. In the medication class, the multi-class combination drugs segment holds the largest market share as it involves the most advanced technique used for the treatment of HIV infection.
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Prominent players operating in the HIV Drugs market include, Boehringer Ingelheim International GmbH, Merck & Co., Inc., GalaxoSmithKline plc. AbbVie, F. Hoffmann-La Roche Ltd., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Gilead Sciences, Inc., Johnson & Johnson, and Cipla Limited
Key findings of the study
- North America accounted for 48.40% market share in 2019, and is expected to maintain this trend over the forecast period.
- On the basis of medication class, the multi-class combination drugs segment is anticipated to grow at a CAGR of 4.1% from 2020 to 2027.
- The Asia-Pacific HIV drugs market is estimated to grow at a CAGR of 4.4% during the forecast period.
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