Number of pages: 100 | Report Format: PDF | Published date: 02 September, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global HIV drugs market was pegged at US$ 30.89 billion in 2021 and is expected to witness a CAGR of 6.2% during the forecast period.
Market Fundamentals
One of the fatal chronic viral diseases and an incurable virus is HIV, also known as the Human Immunodeficiency Virus infection. It attacks the immune system of an individual and makes the body dispose of various infections and other diseases. The HIV virus can be spread by using contaminated needles or syringes, as well as blood, breast milk, semen, and other sources. Anti-retroviral therapy is used to treat HIV/AIDS and manage the infection. There are numerous medication classes that work at various points in the HIV life cycle. The usage of these medications assists patients in maintaining a healthy immune system and guards against other opportunistic infections that could be fatal. These drugs help in preventing the multiplication of the virus and hence reducing the chances of its transmission.
Market Dynamics
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HIV infection rates are growing exponentially. The UNAIDS 2021 factsheet estimates that there are about 30 million HIV-positive individuals alive currently. As a result, sales of HIV medications considerably ascended. As more individuals became aware of the virus and the available pharmacological therapies for the same, the number of people undergoing HIV therapy is rising. The factor accelerating the market expansion is also the development of HIV medications, as well as clinical studies, commercial launches, and related medical activities. The government's increased efforts to educate the general population about the causes, symptoms and pharmacological therapy are also influencing the market. However, strict drug approvals and sale of human immunodeficiency virus medications, as well as side effects associated with the consumption of few drugs, hinder the market's growth.
Market Ecosystem
The global market has been analyzed from three perspectives: drug class, distribution channel, and region.
HIV Drugs Market by Drug Class
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Based on drug class, the global HIV drugs market has been segmented into, non-nucleoside reverse transcriptase inhibitors (NRTIs), integrase inhibitors, and combination drugs. During the forecast period, the combination HIV drug segment is anticipated to continue to dominate the global HIV drugs market. Due to improving outcomes in the pharmacological treatment of HIV and co-infections, this drug class is increasing in demand, which is the cause of its domination. In 2021, the integrase inhibitors market share was the second largest, fostering segmental expansion. The International AIDS Society recommends integrase inhibitors as the initial pharmacological therapy for new human immunodeficiency virus infections (IAS).
HIV Drugs Market by Distribution Channel
Based on the distribution channel, the global HIV drugs market has been segmented into, online pharmacies, retail pharmacies, and hospital pharmacies. The hospital pharmacies segment dominated the HIV drugs market because of the large patient footfall in the hospital for the treatment of HIV. Also, an increase in anti-retroviral drug prescription supports this dominance.
HIV Drugs Market by Region
The global HIV drugs market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World, based on region. Due to the increased frequency of HIV infections among the U.S. population, North America is expected to continue to lead in the upcoming years. Additionally, Europe is probably going to be the second-largest market due to the concentration of known HIV drugs manufacturers in the region. Additionally, to expand their footprint, these businesses regularly participate in partnerships and collaborations. On the other hand, the growing populations of China and India in the Asia Pacific region would increase the need for HIV medications in the coming years.
Competitive Landscape
Some of the prominent players operating in the global HIV drugs market are: -
Strategic Developments
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 30.89 billion |
|
Revenue forecast in 2030 |
USD 53.08 billion |
|
Growth Rate |
CAGR of 6.2% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Segments covered |
Drug Class, Distribution Channel |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The HIV drugs market size was registered to be around 30 billion and is expected to grow at a CAGR of 6.2%.
Increased awareness amongst people to receive HIV therapy and increased government initiatives to conduct awareness programs are few of the trends governing the HIV drugs market.
Merck, AbbVie, and Jassen Pharmaceuticals are a few of the key players in the market and are taking many strategic steps like collaborations, acquisitions, and product innovations to increase their HIV drug sales globally.
The combination HIV drugs segment holds the majority of the market share owing to its rising demand due to its better result in HIV management and its association with advanced technology.
Asia Pacific region is expected to witness the highest growth in the forecast period.
*Insights on financial permanence is subject to availability of information in public domain
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