Market Scope
The global HIV drugs market can reach a valuation of USD 32.78 billion by 2023. It is predicted to expand at a CAGR of 5.85% over the forecast period.
Major factors driving market growth are high prevalence of HIV infections and awareness of new treatment for HIV. In 2018, the number of HIV patient numbers had inflated to 1.7 million. Owing to awareness of treatment for HIV, the rise in number of individuals undergoing treatment has shot up. Nearly 23.3 million patients are undergoing antiretroviral therapy (ART) in 2018. Approval of new drugs by drug regulatory bodies as well as suggestion for combinations of treatment can fuel market sales.
Launch of new drugs for lowering treatment costs and providing relief to patients will be lucrative for the market in the long run. Other factors to encourage growth include research and development into new drugs, clinical trials for said drugs, and rise in government initiatives for creating awareness of the disease and its existing treatment options.
Segmentation
By type, it is segmented into CCR5 antagonist, integrase inhibitors, protease inhibitors, fusion inhibitors, post-attachment inhibitor or monoclonal antibody, nucleoside/nucleotide reverse transcriptase inhibitors (NRTIs), and non-nucleoside reverse transcriptase inhibitors (NNRTIs).
NRTIs accounted for a large market and predicted to dominate the market till 2023. These drugs prevent HIV’s transcriptase from copying its RNA into DNA of the human body. Launch of generic drugs by prominent pharmaceutical bigwigs such as Lupin can drive the segment growth. Protease inhibitors can capture a major chunk of the global HIV drugs market owing to its ability to prevent HIV from infecting other healthy cells.
By end-user, it is divided into specialty centers and hospitals & clinics. Hospitals & clinics held the largest market share and will continue its dominant streak owing to patients coming to hospitals for first-hand diagnosis and treatment options. On the other hand, specialty centers can also encourage growth of the global HIV drugs market by providing treatment entirely on HIV.
Competition Outlook
Gilead Sciences, Inc., Boehringer Ingelheim International GmbH, Aurobindo Pharma, Pfizer Inc., ViiV Healthcare, Celltrion Healthcare Co., Ltd, Bristol-Myers Squibb Company, Hoffmann-La Roche Ltd, Cipla Inc., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd, and AbbVie Inc. are key players of the global HIV drugs market.
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