The Prophylactic HIV Drugs Market refers to the segment of the pharmaceutical industry that focuses on drugs used for HIV prevention. These drugs are designed to be taken by individuals who are at high risk of contracting HIV to reduce the chances of infection. The market includes various types of prophylactic HIV drugs, such as pre-exposure prophylaxis (PrEP) and post-exposure prophylaxis (PEP).
The market for prophylactic HIV medications was projected to be worth US$ 31,278.5 million in 2022 and US$ 32,516.1 million in 2023. The market is expanding primarily as a result of increased HIV drug approvals, a rise in the prevalence of HIV in the population, and increased investment in HIV clinical trials by pharmaceutical and biotechnology companies. Future Market Insights estimates that the market will grow at a CAGR of 4.1% between 2023 and 2033, reaching a value of about US$ 48,822.4 million.
HIV is one of the leading causes of death worldwide affecting millions of people. HIV has become the chief contributor to the global burden of diseases. According to the World Health Organization statistics report, an estimate of around 36.9 million people are living with HIV in 2017 and 21.7 million people had received antiretroviral treatment by the end of 2017. Prophylactic HIV is a course of HIV treatment that is prescribed by physicians to prevent HIV infection in certain circumstances. It is an emergency treatment given after possible HIV exposure to prevent HIV infection. Prophylactic HIV drugs such as antiretroviral (ARV) is generally used to prevent HIV infection.
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Prophylactic HIV drugs: Market Dynamics
Prophylactic HIV drugs witness to have considerable growth in the market since it reduces the chances of HIV infection. Moreover due to its cost effectiveness, there is a high demand among people for prophylactic HIV drugs. In addition to this, increasing prevalence of HIV infection and its treatment, growing government initiatives in spreading awareness among people about the HIV causes, symptom, precautions and treatment and launch of new novel drugs for the treatment is likely to drive the growth of the prophylactic HIV drugs market. However, stringent government regulation in approval and launch of drugs may restrain the growth of the prophylactic HIV drugs. Apart from this, potential side effects of the prophylactic HIV drugs may hamper the growth of the prophylactic HIV drugs market.
Prophylactic HIV drugs Market: Overview
Prophylactic HIV drugs market is likely to trigger increase in growth of the market. Prophylactic HIV drugs mostly consists of three anti-HIV drugs such as a fixed-dose combination tablet combining tenofovir, emtricitabine and raltegravir. Mostly prophylactic HIV drugs are recommended during receptive anal sex, vaginal sex, non-sterile injection equipment etc. and thus there is a high demand for the prophylactic HIV drugs in the market. With the increasing prevalence of HIV infection every year, the prophylactic HIV drugs market will spur the growth of the market. However, there are certain complications in prophylactic HIV drugs market. Irregular dosing of prophylactic HIV drugs may cause harm to the patients. Moreover potential side effects by prophylactic HIV drugs adds another factor which may impact the growth of the prophylactic HIV drugs market.
Prophylactic HIV drugs: Region-wise Outlook
On the basis of geography, the global prophylactic HIV drugs market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, and Asia Pacific excluding Japan and Middle East & Africa. North America is projected to hold the substantial share in the prophylactic HIV drugs market due to rising adoption of new therapeutics and advanced healthcare facilities. Europe market witness to spur the growth of the prophylactic HIV drugs market due to increasing prevalence and incidences of HIV infection and rising adoption of new medications. Asia Pacific also shown to have potential in stimulating the growth of the prophylactic HIV drugs market due to increasing government initiatives in spreading awareness among people and high demand for new treatment options. Japan seems to have tremendous potential to grow the overall prophylactic HIV drugs market due to rising HIV infection and innovation in new technologies. Middle East & Africa have relatively less growth in prophylactic HIV drugs market due to lack of poor economy and lack of awareness about diseases may hinder the growth of prophylactic HIV drugs market.
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Prophylactic HIV drugs Market: Key Players
Some of the key players present across the value chain of the global prophylactic HIV drugs market are
- Gilead Sciences, Inc
- Merck Sharp
- Dohme Corp
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia-Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- The Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Prophylactic HIV drugs Market: Segmentation
The global prophylactic HIV drugs market is segmented by drug class and distributional channel
Segmentation by Drug Class
- Nucleoside/Nucleotide Reverse Transcriptase Inhibitors (NRTI)
- Integrase Inhibitor
Segmentation by Distributional Channel
- Hospital Pharmacies
- Retail Pharmacies
- Mail Order Pharmacies
- Drug Stores
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
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