The global HIV drug/medicine market is estimated to garner notable CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to prevailing cases of acquired immune deficiency syndrome (AIDS). AIDS is caused by the transmission of a virus named human immunodeficiency virus (HIV). The data released by World Health Organisation states that in 2020, there were 1.5 million people who acquired HIV, and 680,000 people died from HIV-related causes. WHO also claims that in 2020 there were 37.7 million people who are living with AIDS. On the back of emerging cases of AIDS, the global HIV drug/medicine market is expected to grow during the forecast period. Furthermore, the governments are raising expenditure for the prevention and treatment of the disease. According to a report released by Joint United Nations Programme on HIV/AIDS (UNAIDS), the availability of international and domestic resources for the prevention and treatment of AIDS reached USD 21.5 million by the end of 2020. On account of the availability of a humongous budget for the treatment of AIDS, the global HIV drug/medicine market is projected to grow during the forecast period. Furthermore, the pro-active participation from all over the world to eliminate AIDS is remarkable. The World Health Organization promulgates 1st December as World AIDS Day to spread awareness about the prevention and treatment of the disease. The global HIV drug/medicine market is estimated to witness significant growth during the forecast period on account of the rising awareness amongst the people.
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The market is segmented by distribution channel into hospital pharmacies, retail pharmacies, online pharmacies, and others. Out of which, the hospital pharmacies sub-segment is anticipated to hold the largest share in the global HIV drug/medicine market during the forecast period on account of the growing number of HIV patients. A large number of HIV patients get admitted to hospitals is estimated to boost the market growth.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global HIV drug/medicine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of the presence of an ultra-modern healthcare system. Furthermore, countries such as the USA are making people aware of the prevention and treatment of AIDS. The data released by the American Psychological Association states that 10th April is celebrated as National Youth HIV and AIDS Awareness Day. This event is celebrated to raise awareness amongst youth regarding the treatment of AIDS.
Furthermore, the global HIV drug/medicine market is expected to grow during the forecast period in the Asia Pacific region owing to a large number of patients in the region. According to the data released by UNAIDS in 2020, there were 5.8 million people living with HIV in the APAC region. On the back of the escalating number of HIV patients in the region, the global HIV drug/medicine market is projected to grow during the forecast period. Furthermore, the governments in the region are allotting a plethora of budgets for the prevention and treatment of HIV.
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The global HIV drug/medicine market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global HIV drug/medicine market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The surging AIDS cases worldwide are expected to be the major factor driving the growth of the global HIV drug/medicine market during the forecast period.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022-2031.
The major players in the market are F. Hoffmann-La Roche Ltd, Cipla Inc., Teva Pharmaceuticals Industries Ltd. and Janssen Global Services, LLC.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by medication class, distribution channel, and by region.
The hospital pharmacies sub-segment is anticipated to hold the largest market size in value and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
Lack of awareness regarding the treatment is estimated to hamper market growth.
The North America region is estimated to provide more business opportunities for the growth of the global HIV drug/medicine market owing to the presence of well-established healthcare infrastructure.
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