Press Release

United States Pre-Exposure Prophylaxis (PrEP) Market to Grow with a CAGR of 7.84% through 2028

Advancements in pharmaceutical sector and improvements in healthcare infrastructure is expected to drive the United States Pre-Exposure Prophylaxis (PrEP) Market growth in the forecast period, 2024-2028. 

 

According to TechSci Research report, “United States Pre-Exposure Prophylaxis (PrEP) Market –Industry Size, Share, Trends, Competition Forecast & Opportunities, 2018-2028F”, the United States Pre-Exposure Prophylaxis (PrEP) Market stood at USD 280.51 Million in 2022 and is anticipated to project steady growth in the forecast period with a CAGR of 7.84% through 2028. The growth of the United States Pre-Exposure Prophylaxis (PrEP) market is driven by several factors. Prevalent factors include the increasing incidence of HIV infections, growing awareness about PrEP, and government initiatives aimed at promoting its use.

Moreover, improved healthcare infrastructure and accessibility of PrEP drugs also contribute to the market growth. Advancements in medical research and the development of more efficient PrEP drugs fuel the expansion of the market.

The United States Pre-Exposure Prophylaxis (PrEP) Market is a dynamic and constantly evolving landscape that encompasses the entire ecosystem associated with the use of PrEP medications in the prevention of HIV infection across the United States. PrEP, a revolutionary approach, involves the use of drugs taken by individuals who do not have HIV but are at very high risk of contracting the virus. This innovative preventive measure has gained significant acceptance and usage, leading to a growing market that spans various sectors.

The market for Pre-Exposure Prophylaxis (PrEP) medications goes beyond the manufacturing, distribution, and sales aspects. It also encompasses the provision of comprehensive healthcare services to ensure the effective administration of PrEP. These services include regular monitoring, counseling, and testing to support the well-being of individuals using PrEP. The collaborative efforts of healthcare providers, pharmaceutical companies, and public health organizations play a crucial role in expanding access to PrEP and reaching high-risk communities. Moreover, the United States PrEP market is characterized by a continuous stream of advancements and innovations. Ongoing research and clinical trials aim to explore new formulations, delivery methods, and combination therapies. These efforts are driven by the goal of enhancing the efficacy and convenience of PrEP medications. By constantly pushing the boundaries of what is possible in HIV prevention, the market remains at the forefront of the fight against this global epidemic, ensuring that progress is relentless and impactful.

The United States Pre-Exposure Prophylaxis (PrEP) Market is a multifaceted arena that encompasses a wide range of activities, from the development and production of PrEP medications to the implementation of comprehensive healthcare services. It represents a collective effort by various stakeholders to combat HIV and improve the lives of individuals at risk, ultimately working towards a future where new infections are significantly reduced, and the impact of HIV is minimized. The dedication and innovation within this market play a vital role in shaping the landscape of HIV prevention, paving the way for a healthier and brighter future for all individuals affected by this disease.

 

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The United States Pre-Exposure Prophylaxis (PrEP) Market is segmented into drug, route of administration, regional distribution, and company.

Based on route of administration, the United States Pre-Exposure Prophylaxis (PrEP) market is poised to witness a significant boost in the coming years, primarily driven by the oral route of administration. Oral PrEP entails the regular intake of antiviral medications by individuals at high risk of HIV infection, serving as a preventive measure to curb the spread of the virus. This method has demonstrated remarkable effectiveness and garnered high compliance rates, owing to its undeniable convenience and ease of use. Moreover, it has already received approval from the FDA, positioning it as a trusted and reliable option among healthcare providers and patients alike.

With the rising awareness about HIV prevention and the pressing need for effective strategies, the PrEP market in the United States is expected to experience substantial growth and expansion in the foreseeable future. The availability of oral PrEP not only offers a practical and accessible solution but also empowers individuals to take control of their health by reducing the risk of HIV transmission. As more research and development efforts continue to refine and innovate PrEP formulations, the market is likely to witness further advancements, ensuring enhanced prevention and improved outcomes for individuals at risk.

Based on region, the market for Pre-Exposure Prophylaxis (PrEP) in the United States is predominantly dominated by the Northeast region for several compelling reasons. Firstly, the Northeast encompasses highly populous states, such as New York and Massachusetts, which are home to bustling urban centers where the prevalence of HIV and associated risk behaviors tend to be higher. This concentration of population creates a greater demand for PrEP services and resources. In addition to the higher prevalence of HIV, the Northeast region has also established a strong and effective public health infrastructure. This includes comprehensive awareness campaigns that aim to educate individuals about the importance of HIV prevention and the availability of PrEP. With these campaigns in place, individuals are more likely to understand the benefits of PrEP and seek out the necessary services.

Furthermore, the Northeast region benefits from robust healthcare policies that support the affordability and accessibility of PrEP. Many states in this region have implemented measures to ensure that PrEP is affordable for individuals, regardless of their financial situation. Additionally, these states have streamlined access to PrEP services, making it easier for individuals to obtain and adhere to the medication regimen. Overall, the combination of a higher prevalence of HIV, a strong public health infrastructure, and supportive healthcare policies has led to the dominance of the Northeast region in the PrEP market. These factors have contributed to increased usage and availability of PrEP, ultimately helping to prevent new HIV infections and improve public health outcomes.

 

Major companies operating in the United States Pre-Exposure Prophylaxis (PrEP) Market are:

  • Gilead Sciences, Inc.
  • Teva Pharmaceuticals USA, Inc.
  • Merck & Co., Inc.
  • Bristol-Myers Squibb Company
  • Genentech, Inc.

 

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“The future of the United States Pre-Exposure Prophylaxis (PrEP) market appears exceptionally promising. As awareness and acceptance of PrEP as a preventive measure against HIV continue to rise, there is a projected increase in the demand for these medications. This surge in demand is further bolstered by the unwavering support from governmental bodies in their efforts to curb HIV infections. Moreover, advancements in drug development and the imminent approval of more affordable generic versions are expected to propel the market forward. While the future of the United States PrEP market holds great promise, it is essential to continue addressing these challenges through comprehensive strategies and collaborations to ensure optimal outcomes for HIV prevention and control efforts.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

United States Pre-Exposure Prophylaxis (PrEP) Market By Drug Type (Truvada, Descovy), By Route of Administration (Oral, Topical), By Region, Competition, Forecast and& Opportunities, 2018-2028F”, has evaluated the future growth potential of United States 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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Growing rate of generic drug approvals and increasing prevalence of HIV is expected to drive the United States Pre-Exposure Prophylaxis (PrEP) Market growth in the forecast period, 2024-2028.

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