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The Global Hiv/Aids Drugs Market will benefit from recent advancements in R&D in drugs across the world. According to a report published by Fortune Business Insights, titled “Hiv/Aids Drugs Market: Global Market Analysis, Insights And Forecast, 2019-2026,” the market was valued at US$ 25,314.0 Mn in 2018. Fortune Business Insights has predicted that the market will reach US$ 40,675.0 Mn by 2026, thereby exhibiting a CAGR of 6.1% in the forecast period.
HIV/AIDS is one of the most severe chronic diseases with effects such as shortage of breath, weight loss, and abnormal heart beats. The need to address initial stages of HIV/AIDS becomes even more crucial, given the recent events that have unfolded the disease’s symptoms indicating the severity of the disease in the latter stages.
Due to the extreme severity, there is an increase in awareness campaigns and programs by private as well as public organizations across the world. Furthermore, there is an overall increase in the efforts to improve the outcomes of treatment and therapeutic procedures of people diagnosed with HIV/AIDS. The report signifies the importance of several companies operating across the globe, on the HIV/AIDS market value.
Increasing Awareness of HIV Symptoms Will Enable Growth
The growing awareness regarding HIV/AIDS symptoms has opened the doors for innovations and fast-responding treatment methods. HIV/AIDS can weaken the immune system and reduce functional operations on a few primary organs of the body. A huge patient pool will offer several growth opportunities for market companies to generate substantial HIV/AIDS drugs market revenue.
A huge percentage of the total people diagnosed with HIV/AIDS are still untreated, which in turn may trigger several other diseases. In combination with the huge patient pool, recent advancements in drugs associated with the treatment of HIV will enable the growth of the global HIV/AIDS drugs market in the forthcoming years.
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High Prevalence of HIV/AIDS in North America Will Create High Demand
The high prevalence of HIV/AIDS in North America has created an ideal opportunity for the companies operating in the regional market. Furthermore, the increasing incidence of HIV/AIDS will create a subsequent rise in the demand for drugs associated with HIV/AIDS in this region. The recent drug advancements by leading companies in North America will favor the growth of the market in this region.
Several drugs in clinical trials, increasing number of pipeline drugs, and growing approvals by the US Food and Drug Administration (USFDA) will enable growth of the HIV/AIDS market in North America. Fortune Business Insights states that the HIV/AIDS drugs market in North America was valued at US$ 19,061.2 Mn in 2018 and this figure is likely to grow at a healthy rate in the coming years. Besides North America, the report analyzes a few of the other regions across the world and gauges the impact of these regions on the global market.
Fortune Business Insights profiles a few of the leading HIV/AIDS market companies that have contributed to significant market growth in recent years. A few of the prominent companies that are operating in the market are ViiV Healthcare, Gilead Sciences, Inc., Merck Sharp & Dohme Corp., Bristol-Myers Squibb Company, Janssen Pharmaceuticals, Inc., Theratechnologies Inc., Mylan Pharmaceuticals Inc., Genentech, Inc., and AbbVie Inc.
The global HIV/AIDS drugs market is segmented based on:
By Drug Class
By Distribution Channel