Market Trends of Prophylactic HIV Drugs Industry
Oral Drug Forms Segment is Expected to Hold a Significant Share Over the Forecast Period
- The oral drug segment 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 coupled with rising product approvals. The oral route also has several pharmacokinetic advantages, such as a higher rate of bioavailability, rapid drug delivery, and high efficacy. All these advantages are expected to propel segment growth.
- The oral route is the most patient-compliant; therefore, it is most widely adopted by patients. Also, the development of promising new drugs and potential clinical pipeline candidates are some of the major factors expected to drive segment growth.
- For instance, in March 2022, ViiV Healthcare, a company majority owned by GlaxoSmithKline plc with Pfizer Inc. and Shionogi Limited as shareholders, reported that the US Food and Drug Administration (FDA) approved a label update for Cabenuva (cabotegravir and rilpivirine). Additionally, in June 2022, Cipla Ltd. and its partner Drugs for Neglected Diseases Initiative (DNDi) reported the availability of a 4-in-1 antiretroviral medication for HIV-positive youngsters in South Africa. The South African Health Products Regulatory Authority (SAHPRA) has approved a sweet-tasting, heat-stable, and "4-in-1" fixed-dose combination of four antiretroviral (ARV) medications created specifically for newborns and young children with HIV.
- The future growth of the market is anticipated to be fueled by the launch of various potential pipeline candidates, such as fostemsavir and PRO 140, and the launch of generic versions of various branded drugs, such as tenofovir disoproxil fumarate tablets. Thus, all the aforementioned factors, such as the launch of an oral drug, are expected to boost segment growth over the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
North America is Expected to Hold a Significant Market Share Over the Forecast Period
- North America is one of the strongest regions and is also an important revenue contributor to the global HIV prophylactic drug market. Heightened awareness of disease-remitting therapies among patients, the presence of a technologically advanced healthcare framework, and supportive reimbursement policies are stimulating the growth of the region.
- As per the Department of Health and Human Services, in 2020, 30.6 thousand people will receive an HIV diagnosis in the United States and its dependent areas. Similarly, according to the HIV Surveillance Report 2021, over 2,132 HIV diagnoses were reported in Canada, 5.6 per 100,000 population. The age group 30 to 39 years had the highest HIV diagnosis rate at 12.7 per 100,000 population. Thus, the growing prevalence of HIV in the region is expected to propel the growth of the market over the forecast period.
- In addition, increasing government funding and programs for HIV prevention and treatment are expected to boost the market over the forecast period. For instance, for the fiscal year 2023, the US government's spending on the domestic fight against HIV has increased to more than USD 28 billion annually. This sum includes both discretionary and required spending for Medicare, Medicaid, Social Security payouts, and other required spending. Hence, owing to all the aforementioned factors, the North American region is anticipated to grow at high rates.
Get Analysis on Important Geographic Markets
Download Sample
