United States PrEP Market Gaining Momentum—Projected to Grow at a CAGR of 15.4% by 2027

Published | 20 September 2021

Over the forecast period (2021-2027), United States PrEP (Pre-Exposure Prophylaxis) market is expected to be driven by the increasing rate of generic drug approvals and decreasing treatment costs…

A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that United States PrEP (Pre-Exposure Prophylaxis) market was worth USD 5,774.0 Million in 2020. According to the report, the market is projected to grow at a CAGR of 15.40% during the forecast period (2021-2027) to reach the valuation of USD 15,515.2 Million by 2027.The growth of the market is attributable to the innovations taking in this field. Lupin, for example, announced the launch of Emtricitabine with Tenofovir Disoproxil Fumarate Tablets in July 2021. Gilead Sciences, Inc.'s Truvada Tablets 200 mg/300 mg generic equivalents are Emtricitabine and Tenofovir Disoproxil Fumarate Tablets 200 mg/300 mg. Furthermore, many generic versions of PrEP drugs have been approved, which has proliferated its sale in the United States, thereby, driving the United States PrEP (Pre-Exposure Prophylaxis) market.

Growing Government Initiatives for Free Medication of HIV is Driving the Market Growth

Since the WHO recognizes HIV as a global pandemic that has caused many deaths in the United States, it has compelled the government of the United States to update medical infrastructure and improve HIV regulations. The US Department of Health and Human Services' Ending the HIV Epidemic (EHE) in the United States mission aims to reduce new HIV infections by 90% by 2030, with a target of fewer than 3,000 per year.

For instance, the US Health Resources and Services Administration (HRSA) announced USD 99 million in 2021 for implementing the EHE campaign in the U.S. with Ryan White's HIV programs to improve the healthcare infrastructure, including HIV care, treatment, medication, and essential support services. In 2019, Gilead Sciences announced that they are likely to donate Truvada for PrEP to the US CDC to support the government initiative for End the HIV Epidemic. Gilead Sciences announced that they would provide 2.4 million bottles of Truvada to the CDC annually for uninsured citizens of the U.S. Thus, growing government initiatives for the free medication of HIV have propelled the growth of the United States PrEP market.

Increasing Population of Lesbian Gay Bisexual Transgender (LGBT) and Adoption by Society Represent a Lucrative Opportunity

Nearly 70% of the people living with HIV are bisexual men or homosexuals. This is generally because contracting HIV through anal sex is ten times more likely than through vaginal contact. Thus, anal sex has a higher transmission rate, which means that the chances of contracting HIV increase in bisexual men or homosexuals.

LGBT awareness has grown to a point where the younger generation is more likely to identify as LGBT than heterosexual. The latest update on gay, lesbian, transgender, bisexual finds that 5.6% of the U.S. population (mainly adults) identifies as LGBT in 2020. This includes one in six adult members of generation Z.

Thus, the rising population of LGBT and their acceptance by society has led key players to develop more effective drugs.

Request For Free Sample Report @ Click here

Impact of COVID-19 on United States PrEP (Pre-Exposure Prophylaxis) Market

As a result of the COVID-19 pandemic, the U.S. and global economies experienced substantial volatility and uncertainty in the early months of 2020, increasing operational risks. The manufacturing industry has been profoundly affected in multiple industries. Clinical trials have been adversely affected by the pandemic, including their ability to be completed on time. Some clinical trial sites had to implement restrictions on patient visits during ongoing trials to reduce the risk of exposure to the deadly virus. Additionally, the companies found it difficult to maintain participant adherence to the clinical trial schedules because of quarantines, travel restrictions, and healthcare disruptions. As a consequence of the clinical trial sites remaining open, there was also a risk of biased data collection. In light of these challenges, manufacturers failed to meet predicted filing and marketing timelines for certain products.

United States PrEP (Pre-Exposure Prophylaxis) Market: Competitive Landscape

The United States PrEP market is highly consolidated. The rising prevalence of HIV cases in men and women, regulatory approvals, and the global HIV pandemic has aided the firms in launching new medications and clinical studies. Gilead Science Inc., Teva Pharmaceuticals Industries Ltd., and others are among the leading market competitors in the US PrEP industry.

• In June 2021, Lupin announced the launch of Emtricitabine and Tenofovir Disoproxil Fumarate Tablets after receiving approval from the United States Food and Drug Administration (FDA). Emtricitabine and Tenofovir Disoproxil Fumarate Tablets 200 mg/300 mg are the generic equivalents of Gilead Sciences, Inc.'s Truvada Tablets 200 mg/300 mg. They are used to treat HIV-1 infection in combination with other antiretroviral drugs. These are also used for pre-exposure prophylaxis (PrEP), which lowers the risk of HIV-1 infection acquired through sexual contact. In the United States, Emtricitabine and Tenofovir Disoproxil Fumarate Tablets (RLD: Truvada) had yearly sales of USD 2.1 billion. (IQVIA MAT March 2021).

Don’t miss the business opportunity of the United States PrEP market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the United States PrEP market statistics. It also highlights the factors driving forecasts of total market size. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market. The report promises to provide recent technology trends in theUnited States PrEP market, along with industry insights, to help decision-makers make sound strategic decisions.

About Us

BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solution. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.

Contact Us:

BlueWeave Consulting & Research Pvt. Ltd

+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662

info@blueweaveconsulting.com