Global Human Immunodeficiency Virus Therapeutics Market: Overview
AIDS is perhaps the greatest threat posed by infectious diseases to human health in history. As this disease remains incurable at the moment, the development of anti- HIV therapies is crucial to slow down the progression of the virus. Therefore, the global market for HIV therapeutics will witness tremendous growth during the forthcoming period.
Almost 36.7 million people were suffering from this deadly disease towards the end of 2015, according to the findings of World Health Organization (WHO). As the incidence of AIDS is not likely to reduce anytime soon, the global HIV therapeutics market is expected to exhibit a positive trajectory in the forthcoming years
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The report by Transparency Market Research (TMR) discusses the trends, catalysts, opportunities, and deterrents of the global human immunodeficiency virus therapeutics market. The major vendors are studies in-depth, wherein their key business strategies, market shares, and product portfolios have been discussed. The market attractiveness, competitive landscape, market projections, supply and demand dynamics, and value chain analysis have also been revealed along with relevant statistical data.
Global Human Immunodeficiency Virus Therapeutics Market: Drivers and Restraints
The increasing prevalence of HIV infections, particularly amongst the youth worldwide owing to unprotected sexual activities, lack of awareness about the risk of transmission, and the usage of contaminated needles and syringes have been the most prominent growth drivers boosting the global HIV therapeutics market. The growing healthcare expenditures of governments and the gradual spread of awareness about the availability of anti-HIV therapies are also contributing towards market growth.
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Research conducted in novel scientific arenas such as pharmacogenetics and pharmacogenomics have been backing up the expansion of the market. The most awaited advent of personalized treatments wherein medications are optimized for every single patient considering the individual’s genetic makeup has raised the hopes of HIV positive patients. Several community groups, national research groups, regulatory bodies, pharmaceutical companies and patients have joined forces against HIV, working towards the development of effective HIV therapies. All this has triggered the growth of the global HIV therapeutics market. Moreover, as several drugs are constantly being developed and are entering clinical investigation each day, it is likely that they will be easily available in near future, promoting the expansion of the market substantially.
Global Human Immunodeficiency Virus Therapeutics Market: Regional Outlook
On the basis of geography, the global human immunodeficiency virus therapeutics market can be segmented into Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America.
Escalating incidence of this infection has been observed in Russia, Latin America, and several parts of Caribbean. Therefore, these regions are expected to display considerable demand over the coming period. The continents of Asia and Africa are plagued by this viral infection, with countries such as China, India, and Nigeria with high incidence of HIV infections. According to the WHO, 1 out of 25 people are suffering from HIV infection in the Sub-Saharan Africa, making up almost 70% of the entire global HIV population.
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Steps taken by governments to improve access to HIV therapies in these emerging economies are likely to boost the demand for HIV therapeutics in these regions. Moreover, numerous national and international initiatives across the globe by institutions such as the HIVNAT (The Netherlands, Australia, and Thailand) Network, Harvard AIDS Institute, and MSF (Médecins Sans Frontières) have also been guiding growth.
Companies Mentioned in the Report
Some of the major companies operating in the global human immunodeficiency virus therapeutics market are ViiV Healthcare, Boehringer Ingelheim GmbH, Merck & Co., Cipla, Inc., Bristol-Myers Squibb Company, and AbbVie, Inc.
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