The Rising Financial Tide: HIV-1 Market's Potential Valuation of US$ 34.83 Billion from 2023 to 2033 | reveals by FMI Inc.

The global Human Immunodeficiency Virus Type 1 (HIV 1) Market is predicted to exceed a remarkable valuation of US$ 34.83 Billion in 2023, with a compound annual rate of growth (CAGR) of 6% estimated from 2023 to 2033. The Institute for Health Metrics and Evaluation attributes the industry's growth to the soaring incidence rate of HIV-1 infection, which, unlike the deaths caused by this viral illness, has not updated substantially 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 leading 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.

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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 the 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 will be 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%.

Human Immunodeficiency Virus Type 1, also known as HIV-1, is a lentivirus that infects humans and can cause acquired immunodeficiency syndrome (AIDS). Acquired Immunodeficiency Syndrome (AIDS) attacks and weakens the immune system, making it harder for the body to fight off infections and illnesses.

Key Market Players

-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.

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>Key Companies Profiled

-AbbVie Inc.
-Boehringer Ingelheim GmbH
-Bristol-Myers Squibb Company
-Cipla Inc.
-Genentech Inc.
-Gilead Sciences, Inc.
-Merck & Co. Inc.
-ViiV Healthcare
-GlaxoSmithKline
-Sanofi

?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

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.