The size of the APAC HIV Therapeutics Market was worth USD 2.38 billion in 2022 and estimated to be growing at a CAGR of 2.1%, to reach USD 2.64 billion by 2027.
The HIV therapeutics market in the APAC region is majorly driven by the increasing prevalence of HIV cases, a severe global public health concern. Therefore, due to this, the demand for HIV therapeutics will accelerate the market growth. In addition, increasing initiatives by the government for creating awareness among the people about HIV causes, symptoms, and the availability of treatments are positively influencing the HIV therapeutics market growth in this region.
On the other hand, the rise in the fundings and investments from government and non-government for research and development processes for developing new advanced diagnosing tests and techniques and the rise in the initiatives to control the spread among the individuals is increasing the market growth. In addition, HIV has vastly affected people from emerging countries, such as China, India, and Japan, boosting the market growth.
Key market players are investing in new product launches and implementing market strategies to gain a competitive advantage over the market players, enabling market growth. The strategies include partnerships, mergers, and acquisitions. Furthermore, the increase in the new advancements in the technology for developing upgrading the medical devices and services with the increasing awareness among the people about the presence of treatment and medications available in the market propel the demand for HIV therapeutics in the APAC market.
However, the high cost of the treatment and the therapies such as antiviral drug treatment is the primary cause limiting the market growth of the APAC HIV therapeutics market. In addition, the presence of social stigma, which is associated with HIV infections, also due to the increase in the availability of resistance drugs among the patients, is hampering the growth and demand of HIV therapeutics.
This research report on the APAC HIV Therapeutics Market has been segmented & sub-segmented market into the following categories:
Geographically, the Asia- Pacific market is the fastest-growing regional market in the global HIV therapeutics market, and it is projected to record a significant share during the forecast period. The market growth is driven by the increase in the prevalence of HIV cases, improving healthcare sectors, and key market players. Furthermore, the increase in the competition between the players in the market for expanding their demand across the region; therefore, the market players are adopting various marketing strategies to develop new and advanced treatments for the patients is propelling the growth of the HIV therapeutics market. Moreover, highly populated countries such as China and India are significantly contributing to the APAC regional market growth.
China held the largest share of the APAC HIV therapeutics market, and it anticipated to register a prominent share during the forecast period. The market growth is driven by the presence of a large patient population, increasing awareness about HIV transmission, and growing healthcare spending. China counts for 3 percent of all new HIV infections. As in 2018, there was a 14 percent increase in the new infections among the people, which has led to increasing the demand for HIV therapeutics in the market.
On the other hand, India was counted as the third largest for the outbreak of HIV with 2.1 million. India is expected to witness a promising share of the HIV therapeutics market due to increasing awareness among the individuals and the initiatives and fundings from the government for developing advanced diagnosis treatments and therapies.
KEY MARKET PLAYERS:
Companies playing a pivotal role in the APAC HIV Therapeutics Market profiled in this report are GlaxoSmithKline, Bristol-Myers Squibb, Pfizer, Boehringer Ingelheim, Merck, Hoffmann-La Roche, and Gilead Sciences.
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