- Rise in number of HIV-infected patients across the globe and various initiatives taken by different government associations have boosted the growth of the global HIV drugs market
PORTLAND, Ore., Dec. 2, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Global HIV Drugs Market By Medication Class (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): Opportunity Analysis and Industry Forecast, 2020–2027". As per the report, the global HIV drugs industry was pegged at $30.89 billion in 2019, and is projected to reach $36.49 billion by 2027, growing at a CAGR of 3.8% from 2020 to 2027.
Drivers, restraints, and opportunities
Rise in number of HIV-infected patients across the globe, various initiatives taken by different government associations to raise awareness have boosted the growth of the global HIV drugs market. Moreover, advent of generic drugs that are cost effective and chemically identical to branded drugs supplemented the market growth. However, strict regulatory requirements for the approval and commercialization of HIV drugs hamper the market. On the contrary, rise in number of products in the pipeline is expected to create lucrative opportunities for the market players in the future.
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- Shutdown of land & air transport services, failure of suppliers to deliver ARVs on time, and limited access to health services within countries due to pandemic hampered the demand for HIV drugs.
- Moreover, rescheduling of HIV treatment procedures has resulted in a backlog of patients in the future.
- However, some governments have allowed reopening private clinics that treat HIV, given that they comply with the social distancing regulations.
The multi-class combination drugs segment to manifest the highest CAGR through 2027
By medication class, the multi-class combination drugs segment is expected to register the highest CAGR of 4.2% during the forecast period. Moreover, the segment held the largest share in 2019, accounting for nearly half of the global HIV drugs market, owing to increase in adoption of drugs from this medication class because of better results in the control of HIV & related coinfections and their ease in consumption & adherence. The report includes analysis of the other segments such as nucleoside reverse transcriptase inhibitors (NRTIS), non-nucleoside reverse transcriptase inhibitors (NNRTI), protease inhibitors (PIs), HIV integrase strand transfer inhibitors, and entry inhibitors - CCR5 co-receptor antagonist.
North America held the lion's share
By region, the market across North America held the largest share in 2019, contributing to nearly half of the market, owing to increase in the number of HIV-infected individuals, advancement in HIV treatment, and rise in government funding for R&D for drug manufacturing. However, the global HIV drugs market across Asia-Pacific is estimated to register the highest CAGR of 4.4% during the forecast period, due to expansion of healthcare budgets and increase in disposable income.
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Major market players
- Boehringer Ingelheim International GmbH
- Pfizer Inc.
- Merck & Co., Inc.
- GalaxoSmithKline plc.
- Gilead Sciences, Inc.
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Teva Pharmaceutical Industries Ltd.
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SOURCE Allied Market Research