The global HIV/AIDS drug market is likely to derive growth from the increasing prevalence of the disease across the world. According to a report published by Fortune Business Insights, titled “HIV/AIDS Drugs Market: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 25,314.0 Mn in 2018. Fortune Business Insights has predicted that the market will reach US$ 40,675.0 Mn by 2026, thereby exhibiting a CAGR of 6.1% in the forecast period
Major Leading Players Mentioned:
- ViiV Healthcare
- Gilead Sciences
- Merck Sharp & Dohme
- Bristol-Myers Squibb Company
- Janssen Pharmaceuticals
- Mylan Pharmaceuticals
The increasing awareness regarding the severity of HIV AIDS as created a huge emphasis on several drugs, related to the treatment of this disease. The side effects of HIV/AIDS have led to several drug innovations, particularly aimed at efficient treatment of patients with advanced stages of the disease.
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The report encompasses several factors that have contributed to the growth of the global market in recent years. Besides growth stimulators, the report highlights a few of the factors that have restrained market growth in recent years.
Increasing Drug Approvals Will Enable Market Growth
The increasing emphasis on the research and development of HIV/AIDS drugs has led to several drug innovations in recent years. The increasing demand for therapeutic procedures and treatment methods has created a subsequent emphasis on the development of related drugs.
Fortune Business Insights has predicted that the increasing emphasis on HIV/AIDS treatment will encourage regulatory authorities to approve the usage of proposed drugs. Fortune Business Insights has identified growing regulatory approvals as one of the primary growth stimulators that have constituted a substantial amount of global HIV/AIDS drugs market value in recent years. In April 2019, the Food and Drug Administration (FDA) passed an approval for the Dovato, a drug aimed at treatment of treatment of HIV-1 in patients with no antiretroviral (ARV) treatment history. In June 2018, the Food and Drug Administration passed an approval for Merck’s Delstrigo for the treatment of HIV-1.
Fortune Business Insights has predicted that major drug approvals will have a direct impact on the global HIV/AIDS drugs market in the forthcoming years. The report encompasses several drug approvals of recent years.
Increasing Prevalence of HIV/AIDS will Create Growth Opportunities
The rising prevalence of HIV/AIDS has resulted in increasing emphasis on the development of treatment methods and drugs associated with the treatment of this disease. According to data published by the Joint United Nations Program in 2018, around 37.9 million people in the world are diagnosed with HIV/AIDS. Among the 37.9 million people, around 23.3 million people were undergoing antiretroviral therapy.
Due to the increasing incidence of HIV/AIDS across the world, the HIV/AIDS drugs companies have witnessed massive growth opportunities in recent years. The large patient pool will offer a huge potential for growth of several companies in the market, which in turn, will have a direct impact on the global HIV/AIDS drugs market in the forthcoming years. The report includes several factors that constituted an increase in the global HIV/AIDS market value in recent years.
Fortune Business Insights has profiled a few of the prominent companies that have contributed to the growth of the global HIV/AIDS drugs market in recent years. Besides, Fortune Business Insights identifies some of the key strategies adopted by a few of these companies.
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