HIV Drugs Market size was valued at USD 34.61 billion in 2023 and is set to cross USD 74.73 billion by 2036, registering more than 6.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of HIV drugs is evaluated at USD 36.3 billion.
The growth of the HIV drugs 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 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 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 HIV drugs market is estimated to witness significant growth during the forecast period on account of the rising awareness amongst the people.
Growth Drivers
Surging Cases of Cancer Worldwide
Challenges
Lack of Awareness Regarding the Treatment
|
2023 |
|
|
Forecast Year |
2024–2036 |
|
CAGR |
6.1% |
|
Base Year Market Size (2023) |
USD 34.61 billion |
|
Forecast Year Market Size (2036) |
USD 74.73 billion |
|
Regional Scope |
|
The HIV drugs 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 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.
Our in-depth analysis of the global market includes the following segments:
|
Medication Class |
|
|
Distribution Channel |
|
Regionally, the HIV drugs 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 is likely to dominate majority revenue share by 2036, on the back of 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 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 HIV drugs 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.
March 23, 2020: Gilead affirms that its supply chain is resilient even in the pandemic and does not see shortages of HIV treatment or prevention medicines in the future.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?