Increasing awareness about HIV/AIDS is driving the growth of United States Pre-Exposure Prophylaxis (PrEP) Market, in the forecast period, 2022-2026.
According to TechSci Research report on, “United States Pre-Exposure Prophylaxis (PrEP) Market By Drug Type (Truvada v/s Descovy), By Route of Administration (Oral v/s Topical), By Region, Competition Forecast & Opportunities, 2026”, United States pre-exposure prophylaxis (PrEP) market has shown promising growth in historical years until 2020 and is expected to continue its growth in upcoming forecast years 2021 to 2026. The US pre-exposure prophylaxis (PrEP) market owes its growth to the factors like growing awareness about precaution against HIV viral infection and preventive therapeutics.
The surging demand for the effective precautionary methods or therapeutic products like PrEP drugs for the patients under the risk of contracting HIV infection in future is driving the growth of the United States pre-exposure prophylaxis (PrEP) market in the upcoming five years.
Also, rapidly increasing instances of HIV among the MSM population of the country have scared the population and the government of the country to a large extent thus the population is inclined toward regular checkups and diagnostic tests that can help in deciding the population for the preventive treatment thus supporting the growth of the United States pre-exposure prophylaxis (PrEP) market in the next five years.
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Additionally, increasing MSM population of the country is further substantiating the growth of the United States pre-exposure prophylaxis (PrEP) market in the future five years. The MSM population is highly susceptible to HIV infectious diseases and are supporting the market growth in the future. Private fundings, and governmental aids with favorable schemes are supporting the robust growth of the US pre-exposure prophylaxis (PrEP) market in the forecast period.
The US pre-exposure prophylaxis (PrEP) market segmentation is based on drug type, route of administration, competitional landscape, and regional distribution. Based on drug type, the market is further bifurcated into Truvada and Descovy. Truvada is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of its high adoption and increased demand since the drug is marketed since early 2019.
Also, higher efficiency and reduced risk of acquiring HIV/AIDS infection comparatively is anticipated to support the growth of the Descovy drug type and thus support the growth of the US pre-exposure prophylaxis (PrEP) market in the next five years. Truvada is a combination of two drugs, tenofovir disoproxil and emtricitabine. Truvada is a fixed dose of combination of antiretroviral medication that has proven effect on the treatment and prevention of HIV virus.
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The drug is administered along with the recommendation of following safer sex practices thus increasing awareness among the population. Tenofovir alafenamide is available in the market under the brand name of Descovy. It is a Hepatitis B virus inhibitor that also acts against HIV viral infection.
On the basis of route of administration, the market segments are defined as oral, and topical. Oral administration of the drugs in anticipated to hold the largest revenue shares of the market and dominate the market segment in the next five years on the account of availability of the drug in pill form.
Also, oral administration is more convenient for daily/ regular administration. Maintaining the dosage is also favorable for oral route of administration and thus supports the growth of the sub-segment and drives the growth of the US pre-exposure prophylaxis (PrEP) market in the upcoming five years.
A partial list of major market players of the United States pre-exposure prophylaxis (PrEP) market includes:
- Gilead Sciences, Inc.
- Teva Pharmaceuticals USA, Inc.
- Merck & Co., Inc.
- Cipla Inc
- Bristol-Myers Squibb Company
- Genentech, Inc
These market players along with new market entrants, are focused on extensive research and bringing innovative and advanced products. Technologically advanced manufacturing of the pharmaceutical products and therapeutic processes would aid in decreasing the cost of the production and aid the players in managing their investments. Moreover, initiatives from the government and private fundings would support the US pre-exposure prophylaxis (PrEP) market growth indirectly.
Press Release: https://www.techsciresearch.com/news/6705-united-states-pre-exposure-prophylaxis-market.html
“Young population in the United States is getting highly aware of the increasing instances of HIV virus and their awareness is boosting the growth of the United States pre-exposure prophylaxis (PrEP) market in the upcoming five years. Increasing research and innovative therapeutic product development is further driving the growth of the US pre-exposure prophylaxis (PrEP) market in the future five years. Through researched studies and surveys authoritative bodies are creating awareness among black and Hispanic population about them being more susceptible to HIV infection and further aiding the market growth in next five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Pre-Exposure Prophylaxis (PrEP) Market By Drug Type (Truvada v/s Descovy), By Route of Administration (Oral v/s Topical), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of US pre-exposure prophylaxis (PrEP) market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States pre-exposure prophylaxis (PrEP) market.
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