Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The "Antifungal Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
Fungal Infections on the Rise:
The prevalence of fungal infections has been increasing in recent years, creating concerns within the healthcare industry. Factors contributing to this alarming trend include rising global temperatures, widespread chronic illnesses, and compromised immune systems. Hospital-acquired fungal infections, or nosocomial infections, have become a significant worry, with approximately 1.7 million hospitalized patients contracting such infections in 2019, as reported by the Centers for Disease Control and Prevention (CDC). The COVID-19 pandemic further highlighted the risk, with the outbreak of black fungus infections driven by a surge in hospitalizations. In response, the global antifungal drugs market is experiencing significant growth, with market players developing advanced treatment methods like azoles to effectively combat these infections.
Increasing Hospitalizations Drive Market Growth:
The escalating number of hospitalizations is a key driver behind the rising incidence of fungal infections contracted within healthcare settings. The prevalence of chronic illnesses such as cancer and hematopoietic stem cell transplantation, combined with weakened immune systems, results in frequent hospital visits and stays. This significantly elevates the risk of nosocomial infections, particularly in low and middle-income economies with inadequate healthcare infrastructure. The global antifungal drugs market is expected to flourish as it addresses these challenging conditions.
Effective Azoles-based Treatment:
To combat serious and life-threatening fungal infections, various medications and treatment methods are under development. Azoles, one of the most effective groups of fungicidal treatment methods, have shown considerable efficacy. Synthetic and semi-synthetic azoles have demonstrated effectiveness in treating a wide range of fungal infections, offering a comprehensive spectrum of effectiveness while maintaining a relatively safe profile with minimal side effects. Azoles are absorbed well by the body and require fewer doses, making them promising contributors to the global antifungal drugs market.
Dominance of North America:
North America holds a prominent position in the antifungal drugs market due to a high incidence of infectious diseases, chronic illnesses, and greater rates of hospitalization. The United States, in particular, plays a significant role in contributing to the region's market leadership, with its well-developed pharmaceutical industry and robust research and development activities. Regulatory bodies in the region further create a conducive business environment. Meanwhile, the Asia Pacific region is emerging as one of the fastest-growing markets for antifungal drugs, driven by factors such as a rising population, high disposable incomes, drug availability, and a humid climate.
Key Players in the Market:
Leading companies are actively contributing to advancements in antifungal treatment options to address the growing challenges posed by fungal infections. The report profiles key players including:
- Scynexis, Inc.
- Pfizer, Inc.
- Novartis AG
- Helix Biomedix
- Sequella, Inc.
- Gilead Sciences Inc.
- Leadiant Biosciences, Inc.
- Sun Pharmaceutical Industries Ltd.
- Astellas Pharma, Inc.
- GSK
Report Scope:
Global Antifungal Drugs Market Outlook, by Drug Class
- Imidazole
- Polyenes
- Allylamines
- Echinocandins
Global Antifungal Drugs Market Outlook, by Dosage form Application
- Oral
- Topical
- Parenteral
Global Antifungal Drugs Market Outlook, by Disease Indication
- Candidiasis
- Dermatophytosis
- Aspergillosis
Global Antifungal Drugs Market Outlook, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/p6ncs0
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