In 2021, the Global Prophylactic HIV Drugs Market is expected to be worth around $30 billion. Furthermore, with rising HIV infection rates worldwide and increased awareness about HIV AIDS prevention, the demand for prophylactic HIV drugs is expected to grow at a 4% CAGR between 2022 and 2032, reaching more than US$ 40 billion in 2028.
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Human immunodeficiency virus (HIV) has become one of the leading causes of death worldwide, affecting millions of people over the years. The virus attacks infected patients’ immune systems, making them vulnerable to a variety of infections and cancers.
Although there is no permanent cure for HIV, the condition can be managed by increasing access to effective prevention, diagnosis, treatment, and care. One of the major factors driving demand for prophylactic HIV drugs is a growing emphasis on preventing HIV acquisition.
Prophylactic HIV drugs are advanced therapeutics used to prevent HIV infection in specific situations. They are especially effective in preventing HIV transmission through sex and injection drug use.
Due to the improved effectiveness of pre-exposure prophylaxis (PrEP) in the face of rising HIV prevalence, people all over the world are increasingly turning to it. PrEP, according to the Centers for Disease Control and Prevention (CDC), reduces the risk of contracting HIV from sex and injection drug use by approximately 99% and 74%, respectively.
Similarly, because of their ability to prevent and control HIV infection, prophylactic HIV drugs such as antiretroviral (ARV) are gaining popularity.
Growing public awareness of HIV and the benefits of prophylactic HIV drugs will drive up sales of prophylactic HIV drugs during the forecast period.
Which are the Factors Stimulating Growth in Prophylactic HIV Drugs Market?
The rapid increase in HIV cases worldwide, the continuous launch and approval of novel drugs, and the growing need for HIV prevention and control are some of the major factors driving the growth of the prophylactic HIV drugs market.
Prophylactic HIV drugs have become highly sought-after therapeutics for preventing HIV infection in high-risk individuals. The use of these drugs significantly reduces the chances of contracting HIV. They are typically advised during sex and injection drug use, when there is a high risk of HIV transmission.
Growing popularity of prophylactic HIV drugs due to their improved effectiveness and cost-effectiveness is driving the growth of the prophylactic HIV drugs market, and this trend is expected to continue during the forecast period.
Similarly, the rising prevalence of HIV and its high mortality rate are increasing demand for therapeutics such as prophylactic HIV drugs. According to the World Health Organization (WHO), there will be approximately 1.5 million new HIV infections and over 680000 deaths by 2020. This is encouraging people to take HIV prevention medications.
Furthermore, rising government initiatives and investments in raising public awareness about HIV, its symptoms, precautions, and treatment are expected to drive the prophylactic HIV drugs market size during the forecast period.
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What are the Challenges Faced by Prophylactic HIV Drugs Market?
Despite its upbeat outlook, there are a few roadblocks impeding the growth of the prophylactic HIV drugs market. Some of these barriers include side effects from prophylactic HIV drugs, stringent government approval for these drugs, and low levels of awareness about these therapeutics in low-income emerging economies.
It has been observed that prophylactic HIV medications frequently cause side effects such as headaches, depression, nausea, vomiting, and abdominal pain, among others. As a result, many people avoid using these therapeutics. As a result, the market for prophylactic HIV drugs is contracting.
How Will Prophylactic HIV Drugs Market Fare in Europe?
The Europe prophylactic HIV drugs market is expected to grow at a rapid pace during the forecast period, owing to rising HIV infection rates and increased adoption of novel therapeutics.
Due to a variety of factors, there has been a significant increase in HIV cases in European countries such as the United Kingdom, Germany, and France over the last few decades. According to the European Centre for Disease Prevention and Control, over 2.2 million people in the WHO European Region have been diagnosed and reported with HIV over the last three decades. As a result, the market for prophylactic HIV drugs in the region is expanding.
Furthermore, the presence of leading manufacturers such as ViiV Health is positively impacting the growth of the European market for prophylactic HIV drugs.
Market Competition
Some of the leading manufacturers of prophylactic HIV drugs include Gilead Sciences, Inc, Merck Sharp & Dohme Corp., Merck & Co. Inc., Mylan NV, Cipla Inc., Genentech Inc., Bristol-Myers Squibb Company, and Johnson & Johnson Health Care Systems Inc.
These key players are rigorously investing in research and development to advance in HIV therapeutics. They have adopted strategies such as new product launches and approvals, mergers, partnerships, acquisitions, launching awareness campaigns, etc. to expand their customer bases as well as to gain an upper hand in the global prophylactic HIV drugs market. For instance, in December 2021, the U.S. Food and Drug Administration approved first injectable treatment “Apretude” for HIV pre-exposure prevention.
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Segments Covered
- Drug Class
- Distribution Channel
Key Companies Profiled
- Gilead Sciences, Inc
- Merck Sharp & Dohme Corp.
- Merck & Co. Inc.
- Mylan NV
- Cipla Inc.
- Genentech Inc.
- Bristol-Myers Squibb Company
- Johnson & Johnson Health Care Systems Inc
Key Segments Profiled in the Prophylactic HIV Drugs Industry Survey
By Drug Class:
- Nucleoside/Nucleotide Reverse Transcriptase Inhibitors (NRTI)
- Integrase Inhibitor
By Distributional Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Mail Order Pharmacies
- Drug Stores
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