The prophylactic HIV drugs market continues its upward trajectory, with an estimated valuation of USD 32,516.1 million in 2023, up from USD 31,278.5 million in 2022. This growth is driven by increased investment in HIV clinical trials, expanding drug approvals, and rising HIV incidence rates globally.
According to Future Market Insights, the market is forecasted to grow at a steady compound annual growth rate (CAGR) of 4.1% from 2023 to 2033, reaching approximately USD 48,822.4 million by 2033. This evolution underscores the critical role of prophylactic HIV drugs in preventing and managing HIV infections worldwide.
In 2021, the market size was valued at around USD 30 billion, reflecting a consistent 4% CAGR from 2022 to 2032, surpassing $40 billion by 2028. This growth is propelled by increasing awareness of HIV/AIDS prevention and the persistent global burden of HIV infections.
Get your PDF Sample Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-9582
Global sales of HIV prophylaxis drugs are projected to reach a value of about USD30 billion by 2021. Owing to growing awareness of HIV and the rising prevalence of HIV infection worldwide, As for AIDS prevention, between 2022 and 2032, the market for preventative HIV drugs grew at a compound annual growth rate (CAGR) of 4%, reaching USD 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.
Customization Available:
https://www.futuremarketinsights.com/customization-available/REP-GB-9582
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
Unlock In-Depth Market Insights: Purchase Now to Access:
https://www.futuremarketinsights.com/checkout/9582
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube