Pre-Exposure Prophylaxis (PrEP) HIV Drugs Market Analysis 2024 Key Findings, Company Profiles, Complete Analysis, Growth Strategy, Developing Technologies, Trends and Forecast by Regions
As per the research conducted by Fast. MR, the report titled “Pre-Exposure Prophylaxis (PrEP) HIV Drugs Market, by Drugs (Truvada, Descovy, and Drugs in Pipeline 3/4), by Dosage Form (Oral and Topical), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) – Global Market Size, Development, Growth and Demand Forecast, 2014-2024” provides current as well as future analysis of the market by evaluating the major applications, advantages, trends, and challenges. The report dives deeper to produce useful insights into Pre-Exposure Prophylaxis (PrEP) HIV Drugs Market such as major global regions and key competitors and strategies that can be used for the entry-level player too.
Pre-exposure prophylaxis (PrEP) is prescribed to people who are at very high risk of getting HIV through sex or the use of drug injection. The efficacy of PrEP is highly dependent on adherence. However, it does not protect against other sexually transmitted infections such as chlamydia, gonorrhea, and syphilis. The once-daily pill reduces the risk of getting HIV from sex by more than 90% and also reduces the risk among people who inject drugs by more than 70%. PrEP may either be taken orally, using a combination of two antiretroviral drugs (tenofovir plus emtricitabine) or topically as a vaginal gel containing tenofovir. Truvada (by Gilead Sciences, Inc.), which is available as a daily pill, to reduce the risk of sexually acquired HIV-1 infection in adults at high risk has been increasingly used for several years. However, due to its high price (~$20,000 a year), many HIV-negative populations reluctant to take it.
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An increase in the prevalence of HIV infections is expected to propel the pre-exposure prophylaxis (PrEP) HIV drugs market growth.
An increase in the prevalence of HIV infections will lead to a rise in demand for PrEP drugs during the forecast period. For instance, according to the U.S. Department of Health & Human Services, there were approximately 37.9 Mn people living with HIV/AIDS across the globe in 2018. Of these, 36.2 million were adults, and 1.7 million were children (<15 years old). Further, in 2018, 23.3 million people with HIV (62%) have accessed antiretroviral therapy (ART) globally, an increase of 1.6 million since 2017, and up from 8 million in 2010.
In October 2019, USFDA approved Gilead Sciences, Inc. product- Descovy (emtricitabine 200 mg and tenofovir alafenamide 25 mg) for HIV-1 pre-exposure prophylaxis (PrEP), among adults and adolescents who are HIV-negative and considered to be at risk for sexually acquired HIV, except for those at risk for contracting it through vaginal sex. Such approval by the U.S. govt. is a part of ongoing efforts to end the HIV epidemic. Thus, expected to boost the growth of the pre-exposure prophylaxis (PrEP) HIV drugs market.
However, the cost of current PrEP HIV drugs made it difficult for HIV affected population to purchase. Thus the government of many countries are encouraging pharmaceutical companies to develop more PrEP drugs, including longer-lasting formulations, to continuously meeting the demand of the HIV-negative population at affordable prices.
Introduction of Merck’s experimental drug MK-8591, which wouldn’t need to be taken daily; Gilead’s next-generation PrEP drug, called GS-6207, which would also require far less frequent dosing than Truvada and generic version of Truvada by Teva during the forecast period, will help to cut down the price and have the opportunity to leverage the market share in PrEP HIV drugs Market during the forecast period.
Pre-Exposure Prophylaxis (PrEP) HIV Drugs Market Regional Analysis
On the basis of region, North America is expected to show a leading position in the pre-exposure prophylaxis (PrEP) HIV drugs market. This is owing to rising adoption of new therapeutics and broader coverage of HIV drugs by various insurance companies in U.S. For instance, In May 2019, the Trump administration announced that it had negotiated a donation from Gilead Sciences Inc., for Truvada, in order to distribute the drug to 200,000 individuals each year for up to 11 years or until the generic drug becomes available. Thus, the cost incurs to distribute the drug will be cover by the government to make PrEP more accessible and affordable during the forecast period.
Developing countries including, Latin America and Africa, also witness spur growth of the pre-exposure prophylaxis (PrEP) HIV drugs market owing to the implementation of PrEP programs by the government. For instance, From December 2017, Brazil’s Ministry of Health started the provision of pre-exposure prophylaxis (PrEP) for HIV prevention in key higher-risk population groups through 35 sites across the country. This Brazilian program aims to offer PrEP to 54,000 people including, men who have sex with men (MSM), sex workers, and transgender people through Sistema Único de Saúde (SUS), Brazil’s National Health Service.
Moreover, in March 2016, the South African Ministry of Health also initiated a strategy to provide immediate antiretroviral treatment to all sex workers with HIV and to offer daily oral pre-exposure prophylaxis (PrEP) to HIV-negative sex workers to prevent them from acquiring the infection. Thus, continuous initiatives by the government to access PrEP to the affected population will boost the pre-exposure prophylaxis (PrEP) HIV drug market growth.
Key players operating in the pre-exposure prophylaxis (PrEP) HIV drugs markets include Gilead Sciences, Inc., Merck Sharp & Dohme Corp. Mylan Pharmaceuticals, Cipla Inc., Bristol-Myers Squibb Company, Genentech, Inc., and Teva Pharmaceuticals Industries Ltd.
Pre-Exposure Prophylaxis (PrEP) HIV Drugs Market-Taxonomy
-Drugs in Pipeline 3/4
By Dosage Form
-Middle East and Africa
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