Human Immunodeficiency Virus (HIV)-1 Therapeutics Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1949
Human Immunodeficiency Virus (HIV)-1 Therapeutics Market size is projected to experience significant growth from 2017 to 2024.
Human immunodeficiency virus therapeutics market size should witness tremendous growth, owing to the sprouting incidence of HIV infections. The growing youth-obsessed culture across globe is mostly under the vague of HIV due to unprotected sexual practices coupled with the dearth of awareness concerning transmission risk factors as well as exposure to contaminated and infected needles or syringes. The collaborative efforts of the government and various NGOs to provide help for at-risk individuals with greater receptiveness to disease testing and treatment is the key driving factor of the human immunodeficiency virus therapeutics market. According to American Hospital Association, there were 1.5 million adults and children surviving with HIV/AIDS in North America as of 2016.
High adolescent fertility rate is the opposing effect of extramarital and premarital sex, leading to longer period of sexual activity which increases the risk of infection among the populace. The virus has mostly affected the under developed and the developing countries on a broader scale owing to the scarcity of appropriate treatment, prevention measures and facilities. Approximately 70,000 children and adults are anew infected every year. Nearly 26,000 people in North America die from AIDS every year, with only limited number of patients receive admittance to antiretroviral treatments.
Programs such as Medicare and Medicaid initiated by the U.S. government assists the low-income people in medical billing. The largest HIV specific discretionary grant program is the Ryan White HIV Program which serves as the third biggest source of federal funding for HIV treatment and care in the U.S. The NRTIs (first type of drug available to treat HIV) accounted for the largest market share. It works by blocking the reverse transcriptase enzyme as well as arrests viral replication and impede reverse transcriptase activity.
Integrase inhibitors product segment will witness fastest growth, due to the rise in added integrase inhibitors by key players such as Merck & Co. and Gilead Sciences. These enzymes replicate by inserting viral genomic DNA into the host chromosome. The recent discovery in this segment is the quinoline-based allosteric IN inhibitors (ALLINIs), which potently impairs HIV-1 replication and are presently in clinical trials.
Social stigma, decreasing global funds, discrimination and treatment failures are few factors hindering the growth of the global human immunodeficiency virus therapeutics market. Lack of a definitive treatment is a key health issue and results in a high on-going cost to society.
North America human immunodeficiency virus therapeutics market dominated the industry in 2016 pertaining to the high incidence and prevalence of HIV/AIDS, growing awareness about infection, surging government initiatives and blood donations. The U.S. human immunodeficiency virus therapeutics market is commanded as the greatest national funder of the HIV epidemic globally.
Asia Pacific human immunodeficiency virus therapeutics market will exhibit profitable growth, owing to new developments in treatments. Asian manufacturers prove to be a resilient competition due to their unique patent laws that lead up patent of prerequisite lifesaving medicines. Also, the prices are doomed to decrease the entry of such manufacturers, thereby potentially proliferating the industry with regards to volume.
Key industry players include Gilead Sciences, AbbVie, Bristol-Myers Squibb Company, ViiV Healthcare, and Cipla. Companies focus on innovative product launch and strategic agreements to expand their business portfolio as main strategies. In April 2016, Gilead Sciences, announced the FDA approval of Descovy, a fixed-dose combination for the treatment of HIV, for the treatment of HIV-1 infection.
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