The global prophylactic HIV drug market is anticipated to register a CAGR of nearly 4.1%, during the forecast period. Prophylactic HIV drugs are used for the treatment of human immunodeficiency virus (HIV). Medical treatment for this debilitating disease enables patients to live a normal life by increasing the survival time and reducing the intensity of the disease. Although there is no permanent cure for this infection at present, it can be controlled with proper medical care and drug therapy.
The number of people contracting this viral infection is rapidly increasing worldwide. The factors responsible for the growing prevalence rate include contaminated needles or syringes, unprotected sex, and majorly the lack of awareness about the mode of transmission. For instance, according to data published by the UNAIDS, HIV caused around 1.1 million deaths in 2018. Moreover, it was estimated that around 37.9 million patients were living with HIV infection in 2018. The disease has mostly affected the developing and underdeveloped countries on a larger scale due to the lack of adequate prevention measures and treatment facilities. The future growth of this market largely depends upon the treatment needs and unmet therapeutics present in the Asian and African countries.
Several companies, such as Gilead Sciences, Inc. and Cipla, Inc. have also adopted patient education programs to reduce the adverse consequences of the infection. Moreover, several prophylactic HIV drugs for the treatment of HIV infection are currently in the pipeline. However, lower penetration in underdeveloped market and side effects associated with this drug such as vomiting, nausea, tiredness and diarrhea may restrain the growth of the market.
Key Market Trends
Oral Drug Forms are Expected to Dominate the Dosage Form Segment of the Market Studied
The oral drug from is expected to dominate the global prophylactic HIV drug market, over the forecast period. This can be attributed to new product development and the presence of a strong pipeline. Factors, such as a higher rate of bioavailability, high efficacy, and rapid delivery of drugs, are expected to propel segment growth. The oral route of administration is effective against drugs with medium to high oral bioavailability.
The simplicity of their intake makes them an ideal drug in the market. Oral therapies minimize the use of central lines for intravenous drug administration and thereby reduce the risk of complications associated with it as well as a hospital stay. The development of promising new drugs and potential clinical pipeline candidates are some of the major factors expected to drive segment growth.
The future growth of these drugs market will be fueled by the presence of an extensive contraceptives product pipeline such as fostemsavir and PRO 140 and the introduction of generic versions such as tenofovir disoproxil fumarate tablets.
North America Represents the Largest Market and Asia-Pacific is Expected to Register the Fastest Growth
North America is at the forefront of growth in the region and is also an important revenue contributor in the global arena. Heightened awareness of disease remittance therapies among patients, the presence of a technologically advanced healthcare framework, supportive reimbursement policies is stimulating the growth of the region. As per the Department of Health & Human Services, an estimated 1.1 million people in the U.S. are living with HIV. Moreover, easy access to quality healthcare, strong clinical pipeline, and approval of novel drugs are projected to promote revenue growth in North America.
The Asia Pacific is likely to post the fastest market throughout the forecast period. Increasing prevalence of HIV, rising healthcare spending and the presence of high unmet demand in countries like India and China are expected to propel the market growth in the Asia-Pacific region. Favorable regulatory policies for branded and generic drugs are estimated to boost demand for prophylactic HIV drugs over the forecast period.
Price-sensitive regions such as Latin America and MEA have higher acceptance of generic drugs as compared to branded drug due to lower price. Increasing demand for prophylactic HIV drugs for disease reversal is poised to augment the regional markets during the forecast period.
Manufacturers offering branded drugs dominate the global prophylactic HIV drugs market. Companies are focusing on building novel chemical entities and innovative molecules to consolidate their foothold. Some of the prominent market participants are Merck & Co. Inc., Mylan NV, Cipla Inc., Bristol-Myers Squibb Company, Genentech Inc., and Johnson & Johnson Health Care Systems Inc.
The introduction of generics and the strong clinical pipeline is anticipated to increase competition in the market. For instance, in October 2019, the U.S. Food and Drug Administration (FDA) approved Gilead Sciences’ Descovy (emtricitabine and tenofovir alafenamide tablets) for a pre-exposure prophylaxis (PrEP) indication. This will expand the range of treatment options for the millions of patients living with target diseases.
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