How Will The HIV Drugs Market Grow In 2022?
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The HIV drugs market is forecasted to achieve high growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 4%, as per The Business Research Company’s market report!
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The HIV Drugs Market Size In 2022 And Forecast
The global HIV drugs market is expected to grow from $31.23 billion in 2021 to $33.39 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The change in the HIV drugs market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The HIV drugs market is expected to reach $40.32 billion in 2026 at a CAGR of 4.8%.
The HIV drugs market consists of sales of Human Immunodeficiency Virus (HIV) drugs used for the treatment of HIV infection/AIDS.
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Increasing Awareness Among People Regarding Diagnosis And Treatment Of HIV Disease Is Driving The Growth Of The HIV Drugs Market
According to WHO, 26 million people were diagnosed with HIV/AIDS in 2020, whereas, 32.7 million people died of AIDS related illness at the end of 2019. The federal government agencies, and various associations across the globe have introduced many initiatives and education campaigns for community awareness to address HIV prevention, treatment, and care.
Competitive Landscape And The Regional Analysis Of The HIV Drugs Market
Major players in the HIV drugs market are ViiV Healthcare, Gilead Sciences, Merck & Co., Inc., Bristol-Myers Squibb Company, Janssen (Johnson&Johnson), F. HOFFMANN-LA ROCHE LTD, Boehringer Ingelheim (C.H. Boehringer Sohn AG & Ko. KG), AbbVie, Inc., GlaxoSmithKline plc, Mylan Pharmaceuticals, Pfizer, TEVA PHARMACEUTICAL INDUSTRIES LTD, Hetero Drugs, Daiichi Sankyo, Emcure, AstraZeneca, CIPLA, Alexion Pharmaceuticals, Shionogi, Theratechnologies, and Abbott Laboratories Inc.
Additionally, as per TBRC’s research – North America was the largest region in the HIV drugs market in 2021 holding the largest market share and The Middle East is expected to be the fastest-growing region in the forecast period.
The HIV Drugs Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the HIV drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the HIV drugs market.
Antiretroviral Drugs Market – A Key Trend In The HIV Drugs Market
The antiretroviral drugs market is increasingly implementing multi-class combination products for the treatment of antiretroviral therapy. Combination drugs combine multiple medications into one drug form. Examples of multiclass combination drugs or single-tablet regimens (STRs) include both NRTIs and NNRTIs: doravirine, lamivudine, and tenofovir disoproxil fumarate (Delstrigo). Based on drug class, drugs are segmented into Integrase Inhibitors, Protease Inhibitors, Multi-class Combination Products, Nucleoside Reverse Transcriptase Inhibitors (NRTIs), Non-Nucleoside Reverse Transcriptase Inhibitors (NNRTIs), and Others. Multi-class Combination Products are the rising burden of HIV and new drug approval.
HIV Drugs Market Segmentation By The Business Research Company
1) By Type: Nucleoside Reverse Transcriptase Inhibitors (NRTs), Non- Nucleoside Reverse Transcriptase Inhibitors (NNRTs), Protease Inhibitors, Integrate Inhibitors, Fusion Inhibitors, Chemokine Receptor Inhibitors, Others
2) By Application: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others
3) By Administration: Oral, Parenteral
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