The HIV Vaccine Market has witnessed decisive changes over the years and the market is anticipated to reflect a positive growth trend in the forthcoming years. A new report published by Market Research Future projects a growth rate of about 5% from 2016 to 2027 and the market is expected to reach USD 2,702.3 Bn by 2027.
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Millions of people worldwide are living with HIV/AIDS, and millions of deaths occur each year due to it, mainly in developing countries. HIV cases are escalating across the globe and there is an acute exigency to develop an effective vaccine for HIV prevention. Intense R&D activities are being carried out by investors, and several clinical trials are being done across the globe for developing HIV vaccines. These trails have yielded significant results over the last two decades and their efficacy has been proven to outturn positive outcomes. In 2015, USD 19 Bn was invested for HIV prevention R&D by low and middle-income nations.
The market is driven by rising funding for the R&D of HIV vaccine, rising prevalence of HIV due to prostitution, growing awareness of HIV prevention and growing number of new market entrants. In future the market will be accelerated by additional investments in innovation and technology development. Developing a vaccine for HIV is challenging; using a live form of HIV is too dangerous and using inactivated, or weakened viruses are not effective in clinical trials. Other factors include lack of funds for R&D in underdeveloped and developing countries, longer approval time for vaccines, lack of resources, unaffordability by developing countries.
By region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is leading the HIV vaccine market and holds 44.4% of market share. The North America market for HIV vaccine is expected to attain USD 1,230.1 Bn by the end of the forecast period and is also projected to emerge as the fastest growing market with a CAGR of 5.2 %. This growth can be attributed to high investment in R&D in the region.
Europe ranks second in the global HIV vaccine market and is expected to expand at a CAGR of 5.1% over the forecast period. Asia Pacific market is foreseen to exhibit steady growth during the forecast period.
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The global HIV vaccine market has been segmented based on type, antibiotics, clinical trials and region. By type, the market has been segmented into acute paronychia, chronic paronychia, candidal paronychia and pyogenic paronychia. By antibiotics, the market has been segmented into mupircin ointment, fusidic acid ointment, gentamicin ointment, dicloxacillin, and others. By clinical trials, the market has been segmented into Phase I, Phase II and Phase III.
Scientists are continuously conducting researches and clinical trials over the years to develop a vaccine for HIV and innovations are underway. Notable developments have been made in the field of HIV vaccine, and there has been a decline in HIV-related deaths. Antiretroviral treatment is a new benchmark in the development and prevention of HIV. Antiretroviral therapy is drugs which can prevent the growth of the HIV but cannot kill or cure it. With the usage of ART, the virus is slowed down, so is the disease.
The global HIV vaccine Market is highly competitive. The key players are investing majorly in R&D activities to develop vaccines and gain a substantial edge over competitors. Many new vendors are keen on entering the market which will lead to further expansion of the market. The key players dominating the market include Argos Therapeutics, Inc, Janssen Global Services Llc, Geovax, Genvec, Inc, Inovio Pharmaceuticals, Inc, Sanofi, Bionor Pharma Asa, Genecure Llc, Paxvax Corporation, GlaxoSmithKline Plc, and others.
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