Prophylactic HIV Drugs Market Insights, Research and Growth Factor till 2028

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.

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.

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.

Read More@ https://www.futuremarketinsights.com/reports/prophylactic-hiv-drugs-market

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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