Wellesley, Mass, March 16, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research predicts that new and innovative antifungal drugs in development, along with a growing number of people with weakened immune systems and FDA fast-track provisions, are aiding growth in the global market for antifungal drugs.
BCC Research's Antifungal Drugs: Technologies and Global Markets expects the global market for antifungal drugs to reach $16.1 billion in 2021, up from $13.1 billion in 2016.
Research Highlights
- Fungal infestations in humans, animals, plants and the environment are on the rise, with many having lethal consequences in both the immunocompetent and the immunocompromised.
- Asia-Pacific should lead all regions with an anticipated 9.9% CAGR.
- Merck & Co. is the largest market share holder for all antifungal drugs in the global market.
"While the North American market remains the largest geographic region by value, the Asia-Pacific region is the driver of the global market," says BCC Research Editorial Director Kevin Fitzgerald. "BCC Research predicts that region and North America to account for 24.9% and 36.9% of the global market in 2021, respectively."
Innovative Products in Development Pipeline
Although no new antifungal drug classes have emerged, many products are under development, including VL-2397, a novel antifungal drug initially developed by Vical Incorporated partner, Astellas Pharma; PC945, a novel triazole anti-fungal (inhaled treatment) for pulmonary aspergillosis; and CD101 IV, a novel molecule of antifungals for the treatment of systemic Candida infections.
"A lack of funding and development of new and innovative antifungal drug classes has restrained the market," says Fitzgerald. “In the last 30 years, only one new class of antifungal drugs, echinocandins, has been developed. Whatever the reason for this paucity, the need for new, improved, and affordable antifungal treatments with greater safety and efficacy is clear."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.