Prophylactic HIV Drugs Market Size

Prophylactic HIV Drugs Market Analysis

The prophylactic human immunodeficiency virus (HIV) drug market is expected to register a CAGR of 4.1% during the forecast period.

• The novel COVID-19 augmented the need to evaluate the antiretroviral drugs to treat COVID-19 infections. The drugs such as lopinavir and ritonavir, used in combination to treat HIV, were repurposed to treat COVID-19 infections. Several countries have evaluated the potential of these antiretroviral drugs for treating coronavirus infection. For instance, in November 2021, Pfizer reported the submission of an application to the United States Food and Drug Administration (US FDA) for emergency use authorization for its investigational oral drug combination for COVID-19, ritonavir-boosted PF-07321332. 
• Additionally, according to the study published in the National Library of Medicine in January 2022, between March and April 2020, hospital utilization of ritonavir-boosted lopinavir increased eightfold. As a result, the studied market was significantly impacted by the COVID-19 pandemic. However, the market is growing at a stable pace due to a resumption of diagnosis procedures, manufacturing activities, and the availability of products. It is expected to witness a similar trend over the coming years.
• The major factors driving the market's growth are the high prevalence of HIV globally. For instance, according to the Joint United Nations Programme on HIV/AIDS (UNAIDS) factsheet 2022, in 2021, 38.4 million individuals were living with HIV, and 1.5 million were newly infected with the virus. In 2021, 28.7 million people will have access to antiretroviral medication. As a result of the high prevalence of HIV globally, demand for prophylactic HIV medications is predicted to rise, propelling market growth throughout the forecast period.
• A large number of non-profit organizations and pharmaceutical and biotechnology companies are investing in HIV clinical research for the development of advanced drugs, which is likely to propel the growth of the market. For instance, in August 2022, US Department of Health and Human Services (HHS) Secretary Xavier Becerra announced more than USD 20 million in funding to enhance HIV prevention, testing, and treatment services at health centers in the US at the National Ryan White Conference on HIV Care and Treatment. The health centers that receive this grant will use it to increase access to HIV prevention drugs (including pre-exposure prophylaxis, PrEP, and related services).
• In addition, product launches and approval by the regulatory authority are expected to support market expansion over the forecast period. For instance, in October 2022, Excision reported that the FDA had approved it as Investigational New Drug (IND) as a treatment to prevent HIV, called EBT-101. Thus, such efforts by market participants may result in the launch of advanced preventive therapy, which is expected to boost market growth over the forecast period. However, lower penetration in an underdeveloped market and side effects associated with this drug, such as vomiting, nausea, tiredness, and diarrhea, may restrain the market's growth.