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The HIV Vaccine Market is growing with the rapid pace; mainly due to the increasing prevalence of HIV or AIDS. According to a recent study report published by the Market Research Future, The Global market of HIV Vaccine is booming and expected to gain prominence over the forecast period. The HIV Vaccine market is projected to climb up to USD 2,702.3 Billion by end of 2027, at a staggering CAGR of 5 % between 2016 and 2027.
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The globally market for HIV vaccine is one of the fastest growing markets. Although there is no commercial HIV vaccine available in the market; there is huge funding for the research & development of HIV vaccine. The growth of the market is likely to be driven by rising R&D funding for HIV vaccine, rising prevalence of HIV due to prostitution, increasing awareness due to HIV prevention programs, growing number of new entrants in the market. At end of 2015, US$ 19 billion were invested into the AIDS response in low-and middle-income nations.
Argos Therapeutics, Inc, Bionor Pharma Asa, Janssen Global Services, Llc, Genecure Llc, Geovax, Genvec, Inc, Paxvax Corporation, Inovio Pharmaceuticals, Inc, Glaxosmithkline Plc., and Sanofi are some of the prominent players at the forefront of competition in the HIV Vaccine Market and are profiled in MRFR Analysis.
There is currently no vaccine available that will prevent HIV infection or treat those who have it. However, researchers & scientists are working to develop one. Building on the findings of an earlier study that found for the first time, although modestly, that a vaccine could prevent HIV infection in 2016, an NIH-supported clinical trial was launched to test a modified HIV vaccine. This current vaccine trial, called HVTN 702, is testing whether an experimental vaccine regimen safely prevents HIV infection among South African adults.
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Several people are living with HIV than ever before have access to life-saving treatment with HIV medicines such as antiretroviral therapy (ART), which is good for their health. When people living with HIV achieve and maintain viral suppression by taking medication as prescribed, they can stay healthy for many years and greatly reduce their chance of transmitting HIV to their partners. In addition, others who are at high risk for HIV infection may have access to pre-exposure prophylaxis (PrEP), or ART being used to prevent HIV. Yet, unluckily, in 2015, 39,513 people were diagnosed with HIV infection in the United States alone, and more than 2.1 million people became newly infected with HIV worldwide. To control and ultimately end HIV globally, we need a powerful array of HIV prevention tools that are widely accessible to all who would benefit from them.
HIV Vaccine Market – Competitive Analysis:
The successful development of a preventive HIV vaccine will almost positively depend upon the involvement of both the private and public sectors from around the world. Currently, not a single government entity or company has the resources and encouragement to take on the challenge for developing an HIV vaccine alone. Within the public sector, the development of an HIV vaccine is important for a number of different agencies, which includes the concerns in health, economic development, and international development.
Heavy investments are transpired by the Key Players in to R&D to develop safe, effective, and affordable vaccines that can prevent HIV infection in uninfected people with the research priority given its game changing potential for controlling and ultimately ending the HIV/AIDS pandemic.
HIV Vaccine Market Segmentation:
The Medical Devices Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Type of Vaccine: Comprises Acute Paronychia, Chronic Paronychia, Candidal Paronychia And Pyogenic Paronychia and other.
Segmentation By Antibiotics: Comprises Mupirocin Ointment, Fusidic Acid Ointment, Gentamicin Ointment, Dicloxacillin, and other
Segmentation By Clinical Trials: Comprises Phase I, Phase II, and Phase III.
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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HIV Vaccine Market – Regional Analysis:
Globally North America is the largest market for HIV vaccine market. North America holds the largest market share of 44.4% of HIV vaccines and is expected to reach $ 1,230.1 billion by the end of forecast period. North America is expected to be the fastest growing market at a CAGR of 5.2% due to high investment in HIV vaccine R&D. The large size of the market can be attributed to higher adoption of various HIV vaccine trials coupled with presence of technologically and advancement. Europe is the second-largest market for HIV vaccine which is expected to grow at a CAGR of 5.1%. Asia-Pacific HIV market is expected to grow with a steady pace.
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