By 2030, it is anticipated that the Bulgaria HIV therapeutics market will reach a value of $xx Mn from $xx Mn in 2022, growing at a CAGR of xx% during 2022-2030. The market is primarily dominated by local players such as Huvepharma, Balkanpharma, and Sopharma. The market is driven by government policies, funding, and initiatives for the management of HIV infections in the country. The HIV therapeutics market in Bulgaria is segmented by type, product, and geography, end user, and distribution channel.
By 2030, it is anticipated that the Bulgaria HIV therapeutics market will reach a value of $xx Mn from $xx Mn in 2022, growing at a CAGR of xx% during 2022-2030.
Bulgaria is in Southern Europe, on the Balkan Peninsula to the east. According to the most recent WHO data, HIV/AIDS-related deaths in Bulgaria reached 100 in 2020. Bulgaria ranks 134th in the world, with a death rate of 0.31 per 100,000 people. With 3300 HIV cases in 2020, the adult prevalence of HIV/AIDS in Bulgaria was less than 0.1 percent. Though the fight against HIV/AIDS in Bulgaria has had its ups and downs, the country has made significant progress in providing accessible treatment and diagnosis to its citizens over the last 20 years.
The Global Fund, an international organization supported by many private and public sector organizations, provided significant financial assistance to Bulgaria in its fight against AIDS, tuberculosis, and malaria. Even in the absence of Global Fund support, the fight against HIV/AIDS in Bulgaria is largely successful. The diagnosis rate is only 3.7 per 100,000 people, compared to the EU average of 5.4 per 100,000 people, making it an Eastern European success story. In 2019, Bulgaria spent 8.5 percent of its GDP on healthcare. The drug budget is $888 Mn, which is also the largest in Bulgaria.
Market Growth Drivers
The rate of new cases is also significantly higher in urban areas, with the capital city of Sofia alone accounting for 40% of all new cases. Although Sofia is home to 17.7 percent of Bulgaria's population, it has a much higher per capita rate than the rest of the country. Furthermore, according to WHO, many people simply will not or cannot access the treatment or testing they require due to stigma as well as limited access to resources and transportation. The experimenters attempted to avoid these factors by using private, at-home tests, and it was discovered that many people who would not have had access otherwise used the at-home option. Projects like this foreshadow a bright future in Bulgaria's fight against HIV/AIDS, leading to a better market for HIV therapeutics in the country.
Market Restraints
Some of the newer and more effective antiretroviral drugs for HIV treatment may not be available or accessible in Bulgaria due to high costs and limited funding previously provided by the Global Fund. In Bulgaria, there is a need for more HIV awareness and education, particularly among the general public and healthcare providers. These factors may deter new entrants from entering the Bulgaria HIV therapeutics market.
Key Players
The Bulgarian Drug Agency (BDA) is the regulatory body in charge of the approval and oversight of medicines, including HIV therapeutics, in Bulgaria. The BDA is in charge of evaluating and approving marketing authorization applications for medicines, as well as monitoring their safety and efficacy and enforcing regulatory compliance. The BDA is responsible for implementing EU regulations and guidelines for medicines in Bulgaria and reports to the Ministry of Health.
The Bulgarian National Health Insurance Fund covered antiretroviral therapy (ART) for HIV treatment (NHIF). The National Health Insurance Fund (NHIF) is in charge of administering Bulgaria's national health insurance program and covers the cost of HIV therapeutics, including ART, for eligible patients. HIV therapeutics are reimbursed in Bulgaria based on certain criteria, such as the patient's disease stage, the type of antiretroviral drugs prescribed, and the treatment guidelines established by the Bulgarian Ministry of Health.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Types (Revenue, USD Billion):
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