HIV Market Is Driven by High Affordability of Drugs in Region
Human Immune-deficiency Virus (HIV) is one of the most widespread, catastrophic, incurable diseases among humans throughout the world. According to the 2013 report by World Health Organization (WHO), HIV ranked 6th among the global deaths throughout the world, with approximately 1,776,270 deaths in 2009 itself. HIV presents itself as a complex mix of symptoms, all related to severe immune compromise. The global HIV market, according to the Financial Times 2015, was around USD 20 billion in 2013, which ranks it along with the global insulin market. High quality global journalism requires investment. Globally, the annual deaths from HIV/AIDS have fallen from 2.3 million in 2005 to 1.5 million in 2013, according to the UN AIDS report. HIV antivirals are the largest segment of drugs in the HIV market. Pharmaceutical companies however are focusing on the research and development of novel drugs that prove to be a long term cure for HIV virus and shall forever suppress the virus throughout the life of an individual.
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Treatments also involve dietary modifications and symptomatic relief of conditions presented during the onset of AIDS. Therapeutic treatment is often costly and requires constant supply of energy compounds (sugar/fat) in order for the patient to maintain a standard daily requirement. The affordability of such treatments is a factor of concern in many developing countries of the world. Furthermore, highest number of HIV-infected people is witnessed in poor countries. There is a majority of the HIV infected population living in sub-Saharan Africa region. Hence, worldwide healthcare companies are ensuring to lower their costs in this region so that they can introduce their products to generic competition.
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The key regions methodically examined in the research report are North America, Asia Pacific, Europe, and Rest of the World. North America will be a lucrative market throughout the forecast horizon. The growth of the region can be attributed to the increasing initiatives by governments for immunization against diseases such as HPV and influenza along with a large number of private and public organizations pouring funds into the research and development of novel vaccines. Moreover, the presence of advanced and well-established healthcare infrastructure and facilities is providing a fillip to the growth of the region.
Asia Pacific is anticipated to rise at a noteworthy CAGR during the same period, primarily owing to the expanding base of patients coupled with high unmet clinical needs. Emerging countries such as China and India will be the major revenue contributors to the growth of the region. The rising disposable income and growing awareness regarding the benefits of vaccines are fuelling the growth of the region.
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Some of the well known companies manufacturing HIV drugs are: Bristol-Myers Squibb Company, ViiV Healthcare (Pfizer Inc.) and GlaxoSmithKline plc, Gilead Sciences Inc., Boehringer Ingelheim (C.H. Boehringer Sohn AG & Ko. KG), F. Hoffmann-La Roche AG, Abbott Laboratories Inc., Janssen Therapeutics, Merck & Co. Inc., Cipla Limited, and others, to name a few.