Upgradation in process
Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Recent Trends and Developments in the Market
The U.S. Food and Drug Administration (FDA) recently approved Descovy, a pre-exposure prophylaxis (PrEP) drug for HIV that consists of a combination of 200 mg emtricitabine and 25 mg tenofovir alafenamide. The drug aims to reduce the risk of HIV type-1 and can be taken by adults as well as adolescents weighing at least 35 kg. However, there might be a few safety risks associated with Descovy among people who have Hepatitis B as well, for which precautions need to be taken.
Introduction to Prophylactic HIV Drugs
Prophylactic drugs for HIV are used for the prevention of AIDS among people who are at a high risk for the disease. Since AIDS is a viral autoimmune disorder, the treatment is much more complicated than bacterial diseases. Thus, the prevention of this disease is preferred over its cure, thereby resulting in a growing demand for preventive HIV drugs all across the globe. HIV is a retrovirus that compromises the immune system of the body and spreads to another person through certain body fluids such as blood, semen and breast milk.
Market Size and Forecast
Around 37.9 million people from all over the world were estimated to live with HIV in the year 2018. Out of these, only 62% were anticipated to receive anti-retroviral therapy for the treatment as reported by W.H.O. in the same year. The prophylactic HIV medication consist of fixed-dose combination of drugs taken either before or after possible exposure of HIV. On the basis of this, these drugs are of two types: pre-exposure prophylaxis (PrEP) and post-exposure prophylaxis (PEP). The prophylactic HIV drugs market is anticipated to record a significant CAGR over the forecast period, i.e., 2019-2027. The market is segmented by drug, by dosage form, by distribution channel and by region. On the basis of dosage form, the market is further segmented into oral dosage forms and topical medication forms, out of which, the oral dosage forms segment is anticipated to hold the largest share in the prophylactic HIV drugs market on account of ease of administration of drugs in the form of tablets and capsules. The increased availability of oral forms of prophylactic HIV drugs at offline pharmacies as well as online and as OTC drugs are some additional factors responsible for the significant market share of oral dosage forms. CLICK TO DOWNLOAD SAMPLE REPORT
Growth Drivers
Rising Awareness about HIV AIDS Prevention Globally Raises the Demand for These Drugs
The large prevalence of HIV AIDS among people across the world is a matter of concern for the population. According to data presented by the World Health Organization, an estimated 3.5 million people were living with HIV in Americas in 2018 while around 2.5 were living with HIV in Europe. However, the highest occurrence of this disorder was in the Africa region, with an estimated 25.7 million people living with the disease in 2018. This raises the demand for HIV preventive measures in the form of drugs and devices, thereby estimated to boost the market growth.
Growing Benefits of Using Prophylactic Drugs to Drive the Market Growth
Prophylactic drugs have the potential to lower the rate of transmission of HIV infection and reduce the chances of infection among people. Furthermore, the cost-effectiveness of preventive drugs raises the demand for these drugs, which is further estimated to result in the market growth during the forecast period.
Restraints
Strict Government Approval for These Drugs to Restrict Growth of the Market
The major challenge faced by the prophylactic HIV drugs market is the time taken by government organizations such as the U.S. Food and Drug Administration (FDA) to approve the drugs to be sold in the market. Moreover, the strict regulation standards for these drugs is another factor anticipated to inhibit the market growth.
Market Segmentation
Our in-depth analysis of the prophylactic HIV drugs market includes the following segments:
By Drug
By Dosage Form
By Distribution Channel
By Region
On the basis of regional analysis, the prophylactic HIV drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The advanced healthcare services in North America along with faster development of drugs and therapies for AIDS prevention are anticipated to result in the highest share in the market in this region in the upcoming years. On the other hand, the market in Europe is estimated to hold a significant share in the market on account of high number of incidences of HIV which facilitates the demand for prophylactic HIV drugs. Similarly, the market in Asia-Pacific region is anticipated to witness substantial growth during the forecast period as a result of growing number of cases of HIV AIDS which give rise to various healthcare initiatives by government for prevention of HIV.
The prophylactic HIV drugs market is further classified on the basis of region as follows:
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