Global HIV Drugs Market Forecast 2020-2027
Posted by Bharat Book on January 11th, 2021
Bharat Book Bureau Provides the Trending Market Research Report on “Global HIV Drugs Market Size study, By Medication Class and Regional Forecasts 2020-2027”under Life Sciences Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
Global HIV Drugs Market is valued approximately at USD 30.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.3% over the forecast period 2020-2027. Human Immunodeficiency Virus (HIV) is a chronic and life-threatening disease that can be transmitted from one person to another through blood-to-blood and sexual contact. It is a virus that destroys immune cells known as CD-4 cells, rendering the body vulnerable to infections and other diseases. Over the years, the growing prevalence of HIV disease worldwide has had a positive effect on demand for HIV drugs. HIV medications help prevent the spread of HIV, thereby reducing the risk of transmission of HIV. Significant factors that fuel the growth of the HIV drug market include an increase in HIV prevalence and an increase in the rate of care and diagnosis. In addition, there is an increase in government initiatives to raise awareness among people about the cause of HIV, symptoms, available treatment options, and the critical role of these treatments in controlling the growth of the HIV virus. As a result, awareness-raising through such government programs is also expected to improve the demand for HIV drugs. However, strict government regulations for the approval and sale of HIV drugs are likely to limit the development of the HIV drug industry.
The factors responsible for increasing prevalence include unsafe sex, infected needles or syringes, and, lack of knowledge of the mode of transmission. The concerted efforts of the government and various NGOs to provide at-risk individuals with greater exposure to disease testing and care for infected persons are a key driver of the growth of the HIV-1 industry. In addition, the advent of generic drugs, which are cost-effective and chemically like branded drugs, is another factor adding to the demand for HIV drugs. According to WHO, 37.9 million people were diagnosed with HIV/AIDS in 2018, globally, while 1.1 million died of AIDS-related illness in the same year. A variety of community awareness programmes and education campaigns have been initiated by federal government agencies and numerous organizations across the globe to combat HIV prevention, treatment and care.
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Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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