A recent report published by a research nester titled “HIV Drug / Medicine Market: Global Demand Analysis & Opportunity Outlook 2023” delivers a detailed overview of the global HIV drug/medicine market in terms of market segmentation by drug type, by medication class and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global HIV drug/medicine market is segmented into drug type such as generic drugs and branded drugs. Among these segments, generic drugs segment is expected to witness considerable demand during the forecast period. Generic drugs are way cheaper than branded drugs and effective just as branded drugs. Further, low cost of generic drugs is a key factor that is expected to fuel the growth of this segment during the forecast period.
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The global HIV drug/medicine market is expected to register a 5.9% CAGR over the forecast period. Moreover, the global HIV drug/medicine market was valued at USD 26.9 Billion in 2015 and is expected to reach a notable revenue of around USD 38.1 Billion by the end of 2023. The market is expected to expand on the back of a number of people living with HIV across the globe and ongoing research & development activates to develop more effective drugs. Additionally, the demand for generic HIV drugs is expected to rise in the future due to the increasing number of people living with HIV in low-income nations.
The nucleoside reverse transcriptase inhibitors segment by medication class is likely to grow at a remarkable pace during the forecast period. Moreover, effective results of nucleoside reverse transcriptase inhibitors in the prevention and control of HIV infection is likely to drive the growth of this segment during the forecast period.
Rising Population Suffering from HIV
According to the world health organization, in 2016 around 36.7 Million people are living with HIV globally. The demand for HIV drugs is expected to rise in near future owing to a large number of populations living with HIV across the globe. Furthermore, advancements in medical science and huge spending on research and development activities on HIV drugs are expected to escalate the growth of the global HIV drug/Medicine market in near future.
Favorable Government Initiatives and Programs
Various initiatives by governments of different countries to aware the population regarding HIV infection and their treatment are expected to fuel the demand for HIV drugs in near future. In addition to this, governments are taking initiatives to provide HIV drugs to the population suffering from HIV at a very affordable price is a major factor that is predicted to foster the growth of the market.
Although, the high cost of branded HIV drug/medicine, lack of availability of better and effective cures for HIV in low-income countries are some of the factors that are likely to inhibit the growth of the HIV drug/medicine market in the near future.
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This report also provides the existing competitive scenario of some of the key players of the global HIV drug/medicine market which includes company profiling of GlaxoSmithKline PLC., Merck & Co., Inc., Johnson and Johnson, Hetero Drugs Limited, Gilead Sciences, Cipla Limited, Abbott Laboratories, Pfizer Inc., ViiV Healthcare and Macleods Pharmaceuticals Ltd.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts a detailed overview of the global HIV drug/medicine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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