Human Immunodeficiency Virus Type 1 (HIV 1) Market is expected to reach valuation of US$ 62.37 Billion by 2033 | FMI Study

The global Human Immunodeficiency Virus Type 1 (HIV 1) Market is expected to surpass a remarkable valuation of US$ 34.83 billion in 2023, with a compound annual rate of growth (CAGR) of 6% projected from 2023 to 2033. According to the Institute for Health Metrics and Evaluation, the industry’s growth is due to the rising incidence rate of HIV-1 infection, which, unlike the deaths caused by this viral illness, has not changed significantly over time.

It affected approximately 37 million people worldwide. Furthermore, antiretroviral therapeutic interventions for disease management are only available to half of this population. HIV-1 is the more common of the two types of human immunodeficiency virus, accounting for approximately 96% of all infections globally. The prevalence of HIV is rising at an alarming rate.

The World Health Organization (WHO) estimates that 33.0 million individuals are infected with HIV. This has heightened public awareness, which is directing to an increase in testing procedures. This will cause an increase in demand for HIV medicines with greater efficacy for treatment and care over the projected period.

Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-16202

Because of the large percentage of HIV patients in highly populous countries such as China and India, the Asia Pacific market is expected to become the fastest-growing market with the highest CAGR over the coming years. Furthermore, the massive amount of therapeutic interventions, as well as monetary support from corporate companies and medical companies, are anticipated to propel the industry forward.

Key Takeaways from Market Study

• North America led the market in 2022, with a sales volume of US$ 21 Billion.
• According to a study conducted by the Centers for Disease Control (CDC) in 2021, an estimated 1.2 million people had HIV at the end of 2018.
• Based on the World Health Organization (WHO), approximately 33.0 million people were infected with HIV by 2021.
• Women and girls comprised 54% of all HIV-positive people, according to the WHO.
• From 2018 to 2022, sales increased significantly at a CAGR of 1.6%.

Ask the Analyst: https://www.futuremarketinsights.com/ask-question/rep-gb-16202

Key Market Players

Key players in the Human Immunodeficiency Virus Type 1 (HIV 1) market are AbbVie, Inc., Boehringer, Ingelheim GmbH. Bristol-Myers Squibb Company, Cipla, Inc, Genentech, Inc, Gilead Sciences, Inc., Merck & Co., Inc., ViiV Healthcare, GlaxoSmithKline, Sanofi.

• In July 2021 – Unitaid and the Clinton Health Access Initiative, Inc. (CHAI) announced a pricing agreement with the medical company Hetero Labs LTD to make darunavir plus ritonavir (DRV/r) available as a second-line treatment for HIV patients in low and middle-income countries for US$ 210 per patient/year.
• In March 2021, Gilead Sciences Inc and Merck announced a collaboration agreement to co-develop and co-commercialize long-term HIV treatment. The investigational capsid inhibitor lenacapavir from Gilead and the investigational nucleoside reverse transcriptase translocation inhibitor islatravir from Merck will be paired to form a two-drug HIV regimen.
• On January 20, 2021 – HIV ViiV Healthcare evolved Cabenuva, an injectable drug approved by the US Food and Drug Administration for the treatment of human immunodeficiency virus type 1 (HIV) infections in adults.

Request for Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-16202

Key Segments Profiled in the Human Immunodeficiency Virus Type 1 (HIV 1) Market Industry Survey

Human Immunodeficiency Virus Type 1 (HIV 1) Market by Drug Class:

• Nucleoside-Analog Reverse Transcriptase Inhibitor
• Non-Nucleoside Reverse Transcriptase Inhibitor
• Entry and Fusion Inhibitors
• Protease Inhibitors
• Integrase Inhibitors
• Coreceptor Antagonists

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs