Pune India, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Antifungal Drugs Market Size By Drug Class (Allylamines, Azoles, Polyenes, Echinocandins, and Others), By Route of Administration (Parenteral, Oral and Topical), By Indication (Candidiasis, Dermatophytosis, Aspergillosis and Others), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the antifungal drugs market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the antifungal drugs market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as drug class, route of administration, indication, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global antifungal drugs market are Astellas Pharma, Inc., Merck & Co., Inc., Enzon Pharmaceuticals, Novartis AG, Hikma Pharmaceuticals PLC, Bausch Health Companies Inc., Dr. Reddy's Laboratories Ltd., Pfizer, Inc, Gilead Sciences, Inc., F. Hoffmann-La Roche Ltd., Hikma Pharmaceuticals PLC, Gilead Sciences, Inc., Cipla Inc. among others. To achieve a substantial market share in the worldwide antifungal drugs market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Generally, fungal organisms spread through the environment unavoidably, and they can cause both systemic infections as well as superficial infections. The growth of fungal germs on host cells is inhibited by antifungal medications, thereby eliminating them. People with weakened immune systems are more likely to contract serious fungal infections. It is anticipated that the growth of the antifungal drugs market will be fueled by a rise in research and development activities, which will provide the market with beneficial opportunities. In addition, increasing drug approvals and launches will further drive the market's growth, while the growing emphasis of market players on the launch of generic products to treat fungal infections will also enhance the market growth. As a result, the antifungal drug market growth is supplemented by the rise in the prevalence of the most common systemic fungal infection such as candidiasis. A rise in hospital-acquired infections and an increase in life expectancy are expected to drive the rapid growth of echinocandins during the forecast period. In developing economies, the increasing prevalence of antifungal drug resistance and the lack of healthcare infrastructure will pose challenges to the antifungal drug market as a result of the high cost associated with antifungal drugs. Moreover, counterfeit drugs and side effects associated with antifungal drugs will restrain and further impede market growth throughout the forecast period.
Scope of Antifungal Drugs Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Drug Class, Route of Administration, Indication, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Astellas Pharma, Inc., Merck & Co., Inc., Enzon Pharmaceuticals, Novartis AG, Hikma Pharmaceuticals PLC, Bausch Health Companies Inc., Dr. Reddy's Laboratories Ltd., Pfizer, Inc, Gilead Sciences, Inc., F. Hoffmann-La Roche Ltd., Hikma Pharmaceuticals PLC, Gilead Sciences, Inc., Cipla Inc. among others |
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Segmentation Analysis
Azoles are expected to be the fastest-growing segment in 2022.
The drug class segment includes allylamines, azoles, polyenes, echinocandins, and others. The azoles segment is expected to witness the highest growth rate during the forecast period. A major reason for Azole's dominance on the market is the broad-spectrum activity delivered by these agents, which act by inhibiting fungal enzymes to support fungistatic effects. Azoles are used to treat candidemia, blastomycosis, ocular fungal infections. Triazoles have better absorption and distribution properties, fewer adverse effects, and less serious drug interactions, offering a wide spectrum of activity with enhanced safety.
Topical is expected to be the fastest-growing segment in 2022.
The route of administration segment includes parenteral, oral and topical. The topical segment is expected to witness the highest growth rate during the forecast period. Most cutaneous dermatophyte infections that are confined to the epidermis are treated with topical antifungal medications. Topical antifungal medications hold a huge market share due to the growing use of topical medicine worldwide.
Candidiasis is expected to be the fastest-growing segment in 2022.
The indication segment includes candidiasis, dermatophytosis, aspergillosis and others. The candidiasis segment is expected to witness the highest growth rate during the forecast period. It is expected that candidiasis, the most common form of systemic fungal infection, will exhibit the highest CAGR over the forecast period, as it is caused by the genus Candida. In recent years, its treatment has evolved, as have some of the changes such as the use of echinocandins and broad-spectrum azoles for treating candidemia and invasive candidiasis. The growing number of patients is a key driver for the segment due to the increased risk of fungal infections.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the tissue towel market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Due to increases in the incidence of infectious diseases, the region has seen a rise in drug usage and has seen the development of innovative drugs with fast-track FDA approvals. Additionally, an ongoing effort to expand pharmaceutical companies' geographical reach and expand the commercialization of their products is anticipated to lead to escalating regional market growth.
Country Analysis
- Germany
Germany's antifungal drugs market size was valued at USD 1.35 billion in 2022 and is expected to reach USD 1.9 billion by 2030, at a CAGR of 4.4% from 2023 to 2030.
Infections caused by fungal growth and nosocomial infections are driving the growth of the antifungal drug market. The country's healthcare infrastructure is growing, which is boosting the market's growth in addition to antifungal agents, which are effective in treating systemic and superficial infections caused by hospital-contaminated surfaces and humid conditions.
- China
China’s antifungal drugs market size was valued at USD 1.4 billion in 2022 and is expected to reach USD 2 billion by 2030, at a CAGR of 4.6% from 2023 to 2030.
Although significant advances in fungal treatment have been made in recent decades, fungal infections have remained virtually unchanged for more than a decade. In light of the continued spread of fungal infections, pharmacists in the country will have the opportunity to develop novel antifungal drugs, thereby growing the market.
- India
India's antifungal drugs market size was valued at USD 1.08 billion in 2022 and is expected to reach USD 1.5 billion by 2030, at a CAGR of 4.5% from 2023 to 2030.
It is anticipated that the antifungal drugs market will flourish in Asia-Pacific, especially in India. Since India has a tropical climate, it is well suited to breeding a wide array of fungi, and as a result of this, India's pharmaceutical vendors have lucrative opportunities to flood the drug market with antifungal products.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising awareness among the patients.
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