HIV Drug Market is Expected to Reach $26,458 Million by 2022, Globally - Allied Market Research
PORTLAND, Oregon and PUNE, India, February 28, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "HIV Drug Market by Medication class: Global Opportunity Analysis and Industry Forecast, 2014-2022", the HIV Drug market was valued at $20,448 million in 2015 and is projected to reach $26,458 million by 2022, growing at a CAGR of 3.7% from 2016 to 2022. The multi-class combination drug segment held over one-third share of the total market in 2015.
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Summary of the Report HIV Drug Market can be accessed on the website at:
Multi-class combination drugs segment had accounted for more than one-third revenue of the overall HIV drug market in 2015, owing to increase in adoption of combination drugs from this medication class due to their better results in the control of HIV & related coinfections and their ease in consumption & adherence. Increase in the number of HIV infected patients across the globe increases the need for effective treatment for HIV related diseases. Use of Multi-class combination products is an efficient way of treating HIV. Atripla and Prezista are among the blockbuster combination drugs used in the HIV treatment.
North America was the highest revenue contributor in 2015; this is attributed to the awareness about healthcare in the region, higher HIV diagnosis & treatment rate, ample healthcare expenditure, well-established healthcare system, and proactive government initiatives to control the spread of HIV in the North American countries. Gilead, GlaxoSmithKline, Novartis, and Merck & Co. are some of the key players in the North American HIV drugs market. However, Asia-Pacific region is projected to grow with the highest CAGR of 6.3% during the analysis period, due to the presence large HIV patient pool and ample growth opportunities in terms of unmet medical needs for management of HIV in the region. Moreover, increase in focus & investment from leading players in the region support the growth of the HIV drugs market in the Asia-Pacific region.
According to Hemali Narkhede, Manager, Healthcare Research at Allied Market Research "North America and Europe are expected to dominate the global HIV drug market during the forecast period, while emerging countries in Asia-Pacific and Latin America are expected to offer significant growth opportunities."
Key findings of the study:
- In 2015, multi-class combination drugs segment was the leading medication class segment.
- The branded drug Triumeq of multi-class combination drug segment is estimated to grow at the CAGR of 20.7%.
- North America market is projected to grow at a CAGR of 3.4% during analysis period.
- The Nucleoside Reverse Transcriptase Inhibitors (NRTIs) segment is estimated to grow at the CAGR of 0.4%.
The major companies profiled in the report include Boehringer Ingelheim International GmbH, Merck & Co., Inc., ViiV Healthcare, AbbVie, F. Hoffmann-La Roche Ltd., Teva Pharmaceutical Industries Ltd., Bristol-Myers Squibb, Gilead Sciences, Inc., Johnson & Johnson, and Cipla Limited.
Read similar market research reports on Life Sciences at: https://www.alliedmarketresearch.com/life-sciences-market-report
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SOURCE Allied Market Research