Prophylactic HIV Drugs Market to Witness Growth On Account Of High Demand for Preventive Measures of HIV By 2027
SummaryThe market for prophylactic HIV drugs is anticipated to grow by a significant CAGR during the forecast period, i.e., 2019-2027.
- Author Company: Research Nester
- Author Name: Jacob Dowling
- Author Website: https://www.researchnester.com/
Research Nester released a report titled “Prophylactic HIV Drugs Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global prophylactic HIV drugs market in terms of market segmentation by drug, by dosage form, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for prophylactic HIV drugs is anticipated to grow by a significant CAGR during the forecast period, i.e., 2019-2027. According to 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. The highest occurrence of this disorder was in the Africa region, with an estimated 25.7 million people living with the disease in the same year. The market is segmented by drug, by dosage form, by distribution channel and by region. Based on dosage forms, the market is further segmented into oral and topical dosage forms, out of which, the oral dosage forms are estimated to hold the largest share in the market. This can be attributed to the ease of administration of oral drugs in the form of tablets and capsules along with higher availability of these drugs at online and offline pharmacies.
The market in North America region is estimated to hold the largest share during the forecast period on account of high demand for new medications for the prevention of HIV along with rising advancements in the medical industry. The market in Asia-Pacific region is anticipated to observe a significant growth rate as a result of rising prevalence of HIV in the region and increasing government measures and initiatives for the development of prophylactic HIV drugs and prevention of HIV transmission.
Rising Awareness among People about HIV Prevention to Raise the Demand for Prophylactic Drugs
The growing incidences of HIV infection in various regions across the world, especially in Asia and Africa region, raises the demand for effective preventive measures for HIV across the globe. This, along with other benefits of prophylactic drugs, is estimated to boost the market growth. However, the stringent government policies for drug regulation is estimated to obstruct the market growth in the upcoming years.
This report also provides the existing competitive scenario of some of the key players of the global prophylactic HIV drugs market which includes company profiling of Gilead Sciences, Inc. (GILD), Merck Sharp & Dohme Corp. (MRK), Mylan Pharmaceuticals (MYL), Cipla Inc. (CIPLA), Bristol-Myers Squibb Company (BMY) and Genentech, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global prophylactic HIV drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.