HIV Drugs Market to Hit USD 45.58 Billion by 2028, With 5.9% CAGR; Emergence of Antiretroviral Therapy as a Long-acting Suppression to Boost Growth, says Fortune Business Insights™
29 Jun 2021
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Pune, India, June 29, 2021 (GLOBE NEWSWIRE) -- The global HIV drugs market is set to gain traction from the increasing development of antiretroviral therapy to make it a first long-acting injectable formulation and a long-acting suppression (ATLAS). Physicians often anticipate that the ATLAS regimen can efficiently improve the compliance rates and can be made available in the once-a-month dosage form. In January 2021, for instance, Evergreen Health bagged the U.S. FDA approval for Cabenuva. It is the first complete and injectable regimen for HIV-1 infected adults that can be registered once every month. As per a published report by Fortune Business Insights™, titled, “HIV Drugs Market, 2021-2028,” the market stood at USD 28.79 billion in 2020. It is projected to grow from USD 30.46 billion in 2021 to USD 45.58 billion in 2028 at a CAGR of 5.9% in the forecast period.
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Non-nucleoside Reverse Transcriptase Inhibitors Segment Held 5.6% in 2020: Fortune Business Insights™
Based on the distribution channel, the market is categorized into hospital pharmacies, retail pharmacies, online pharmacies, and others. By the drug class, it is divided into combination HIV medicines, integrase inhibitors, non-nucleoside reverse transcriptase inhibitors (NRTIs), and others. Out of these, the NRTIs segment generated 5.6% in terms of the HIV drugs market share in 2020. This is attributable to the reduced demand for this drug class, unlike for those with innovative formulations.
Report Coverage-
The research report offers an in-depth assessment of various customers’ journeys related to the market, regions, and segments. The analysis takes a closer look at their crucial pain points across numerous customer touch points. The business intelligence and consultation solutions would aid interested stakeholders, such as chief experience officers to define customer experience maps catered to their requirements. They can refine customer experience and engagement with their own brands of HIV drugs.
COVID-19 Pandemic: Declining Number of New Patient Prescriptions to Hamper Growth
The COVID-19 pandemic has severely affected the import and export activities of healthcare products worldwide on account of nationwide lockdowns and disturbances in supply chains. Besides, the reduced number of new patient prescriptions in highly COVID-impacted areas has further lowered the demand for antibiotic and antiretroviral HIV drugs. We are providing elaborate reports to help you find the best solution to enhance your businesses amid the pandemic.
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Increasing Number of New Product Launches to Augment Growth
The rising emphasis on R&D activities in the field of HIV drugs is expected to result in the rising drug innovations worldwide. Several reputed companies, such as Boehringer Ingelheim International GmbH, ViiV Healthcare, and Gilead Sciences are engaging in investment initiatives to compete in the market. Some of the others are participating in new product launches and collaborations. In September 2019, for instance, Merck Sharp & Dohme Corp. won the U.S. FDA approval for DELSTRIGO and PIFELTRO combination drugs. These will be used for the treatment of people living with HIV-1. However, many people suffering from this disease across the globe do not have access to timely treatment. It may obstruct the market growth in the near future.
Rising Prevalence of HIV in the U.S. to Help North America Dominate
Geographically, North America is anticipated to remain at the forefront throughout the forthcoming years because of the rising prevalence of HIV infections among the U.S. populations. As per the Centers for Disease Control (CDC), in 2018, more than 1.2 million individuals were suffering from this disorder. The region procured USD 20.27 billion in 2020 in terms of revenue in this market.
Moreover, Europe is likely to be the second-largest market backed by the presence of a large number of renowned HIV drug manufacturers in the region. Besides, these companies are constantly engaging in partnerships and collaborations to improve their footprint. In Asia Pacific, on the other hand, the surging population in India and China would aid the demand for HIV drugs in the upcoming years.
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Key Players Focus on Gaining Fast-track Approvals to Intensify Competition
Prominent manufacturers of these drugs present in the global market are striving persistently to conduct extensive R&D activities to introduce new products. A few others are also aiming to gain fast-track approvals from regulatory bodies to market and distribute their drugs. Below is one of the industry developments:
A list of renowned vendors of HIV drugs operating in the global market:
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