The global prophylactic HIV drugs market with a projected 4.1% compound annual growth rate (CAGR) between 2023 and 2033, the business is well-positioned to thrive in the future. This trajectory is expected to propel the market value from an estimated US$32,516.1 million in 2023 to a significant US$48,822.4 million by 2033, according to Future Market Insights.
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It is anticipated that the global market for HIV prevention medications will be valued approximately US$ 30 billion by 2021. Due to the rising global incidence of HIV infection and increased knowledge about HIV Regarding the prevention of AIDS, the market for preventive HIV medications surged at a compound annual growth rate (CAGR) of 4% between 2022 and 2032, surpassing US$ 40 billion in 2028.
HIV has been a major global cause of death for many years, impacting millions of people. People whose immune systems are compromised by the virus are more susceptible to a range of ailments and cancers. HIV can be controlled even when there isn’t a long-term cure by expanding access to adequate care, diagnosis, medication, and prevention.
Prophylactic HIV Drugs: A Powerful Prevention Tool
Effective management techniques are available for HIV, even though a long-term cure is still unattainable. One of the most important aspects of fighting the virus is expanding access to care, diagnosis, treatment, and prevention services. HIV prevention medications are becoming an essential weapon in the fight against HIV infection. These cutting-edge treatments work especially well at preventing HIV transmission through drug injection and sexual contact.
Focus on Pre-Exposure Prophylaxis (PrEP):
Pre-Exposure Prophylaxis (PrEP), one of the preventive HIV medications, is becoming increasingly popular because of its great effectiveness. The risk of HIV infection from sex and injectable drug use can be considerably decreased with PrEP, according to the Centers for Disease Control and Prevention (CDC), by 74% and 99%, respectively. The extraordinary efficacy of PrEP is spearheading a global movement for its expanded usage.
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Market Competition:
Some of the prominent players operating in the global market are-
- 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
- Pfizer Inc.
- GalaxoSmithKline PLC
Notable Developments of the Key Players in the Market
- In April 2023, Merck & Co (MRK.N) confirmed that it is going to buy Prometheus Biosciences Inc (RXDX.O) for about $10.8 billion, by picking up a promising experimental treatment for ulcerative colitis and Crohn’s disease and building up its presence in immunology.
- In November 2022, Merck, known as MSD outside the United States and Canada, and Imago BioSciences, Inc. (“Imago”) announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, might acquire Imago for US$ 36.00 per share in cash for around total equity value of US$ 1.35 billion.
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
- Pfizer Inc.
- GalaxoSmithKline PLC
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
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- The Middle East and Africa
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