Industry Overview : HIV Medication/PrEP Category
To provide overview of HIV medication and PrEP category of drugs in terms of identifying key competitors, industry drivers, and industry trends.
- The World Health Organization estimated that in 2017, 36.9 million people were living with HIV. Reportedly, 21.7 million were receiving treatment and 1.8 million were newly infected.
- Global Antiretroviral therapy Market was valued at 24.48 USD Billion in 2018 and expected to reach USD 33.83 Billion by 2025 with the CAGR of 4.73%.
Antiretroviral therapy is medical prescriptions that treat HIV.
- Prominent players in the global antiretroviral therapy market are Gilead, ViiV Healthcare, Janssen Pharmaceuticals, F. Hoffmann-La Roche, Abbvie, Boehringer, Ingelheim, Bionor Pharma, Vertex Pharmaceuticals, Mylan and others.
- Biktarvy by Gilead Sciences has been one of the most successful HIV drugs with forecast to achieve sales of $2.282 billion in 2019 and $3.716 billion in 2022. However, over a year later, owing to its success in the market, these predictions have risen to $4.050 and $6.936 billion, respectively.
- PrEP category : Pre-exposure prophylaxis (PrEP) is a course of HIV drugs taken by HIV-negative people to protect them against HIV infection. Truvada is a drug approved for use as PrEP.
- One of the primary drivers catalysing the growth of the global HIV drug market is an increase in the prevalence of HIV and its diagnosis.
- The market is also driven by a rise in the number of government initiatives for spreading the awareness amongst people regarding causes, symptoms and treatments.
- Another specific industry driver for the HIV medication market has been the introduction of generic drugs, which are cost-effective and chemically identical to branded drugs.
- This upward trend in North America is driven by factors such as well-established healthcare system, higher diagnosis & treatment rate, government funding for R&D, and increase in the adoption of advanced treatment options from HIV infected population.
- Apart from North America, Asia-Pacific & LAMEA are also projected to grow at a faster CAGR throughout 2022
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