A report on the Global HIV Drugs Market has been published by Contrive Datum Insights. The report provides clients with the latest trending insights into the HIV Drugs market. It can be seen that the report includes market value and growth rate, size, production consumption and gross margin, pricing and other influencing factors. Along with this, in the report, you will get detailed information about every distributor, supplier, and retailer in the market. The competitive scenarios of all industry players are mentioned in detail in the report. The pandemic has caused market participants to strategically change their business plans.
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Acquired immunodeficiency syndrome (AIDS) is considered one of the most severe and chronic diseases caused by the human immunodeficiency virus (HIV). It is a viral infection that is spread through exposure to HIV-infected blood, semen, breast milk, and other infected substances. The prevalence of HIV is soaring at a remarkable rate. According to the World Health Organization (WHO), an estimated 33 million people are currently living with HIV. This has led to growing awareness, which has led to an increase in testing procedures. This has subsequently led to a surge in demand for highly potent HIV drugs to treat and manage the disease.
Rising patient population coupled with new product launches is likely to drive market growth. Significant research and development, promotion of government-run awareness programs, new product launches, and increasing market penetration of major companies in developing regions all contribute to the market growth.
The report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as Frenelsa, Voith, ZF, Scania, Telma, Jacobs, Klam, TBK, Shaanxi Fast, SORL, Terca, Hongquan, CAMA. Geographically, this market has been segmented into regions such as North America, Latin America, Europe, Asia Pacific and Rest of the World. The study details country-level aspects based on each segment and gives estimates in terms of market size.
On the basis of region, the global market can be segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is expected to dominate the forecast period, with a market size of USD 20.27 billion by 2020. The dominance of the region is attributed to the rising prevalence of HIV infection among the U.S. population. According to a 2021 study by the Centers for Disease Control (CDC), approximately 1.2 million people were living with HIV at the end of 2018. Such a high patient population base significantly increases the demand for HIV drugs. Another factor contributing to regional growth is population awareness. Moreover, the presence of key players offering innovative HIV drugs for the treatment of HIV infection will further boost the market growth.
Europe is expected to be the second largest market during the forecast period due to rising HIV infection cases and the presence of a large number of HIV drug companies in the region. Moreover, increasing strategic collaborations among European companies will enhance drug availability, which will support market growth in the region. For example, in July 2020, Theratechnologies Inc.’s European subsidiary Theratechnologies Europe Limited partnered with Loxxess to distribute the antiretroviral drug Trogarzo throughout Europe.
The Asia Pacific market is expected to be the fastest growing market with the highest CAGR during the forecast period owing to the high number of HIV patients in densely populated countries such as China and India. Moreover, growing number of therapeutic programs and surging funding from the private sector and healthcare companies are expected to drive the market. For example, in December 2020, Gilead Sciences, Inc., one of the leading antiretroviral drug companies, announced a $1.4 million grant for its “Gilead Asia Pacific Rainbow Grant Program” in the Asia Pacific region. The program is part of Gilead’s initiative to improve public-private partnerships in the Asia-Pacific region to address challenges facing people living with HIV.
Rest of the world, including Latin America, Middle East & Africa, is expected to hold a lower market share due to lack of technologically advanced HIV medicines, poor healthcare standards, and relatively limited healthcare spending. However, these regions have good market growth potential over the forecast period as they host a large number of HIV patients.
HIV Drugs Market Segmentation:
By Type:
- Multi-Class Combination Products
- Nucleoside Reverse Transcriptase Inhibitors
- Non-Nucleoside Reverse Transcriptase Inhibitors
- Protease Inhibitors
- Fusion Inhibitors
- Entry Inhibitors – CCR5 Co-Receptor Antagonist
- HIV Integrase Strand Transfer Inhibitor
- Other
By Applications:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Other
Frequently Asked Questions (FAQ):
- What is the growth rate predicted for the Global HIV Drugs Market?
- Who are the top performing companies in HIV Drugs Market?
- Which region dominated the worldwide market for HIV Drugs in 2022?
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- https://www.openpr.com/news/2851321/stone-mining-quarrying-market-expected-to-accelerate-growth
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