Vancouver, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The global antifungal drugs market size was USD 13.81 Billion in 2021 and is expected to register a revenue CAGR of 3.6% during the forecast period, according to latest analysis by Emergen Research. Increasing high-value investments in the healthcare sector and Research & Development (R&D) initiatives by various major companies is a key factor driving market revenue growth. In addition, growing prevalence of various fungal skin infections with increasing awareness about fungal disease for early identification and prevention id driving revenue growth of the market.
Majority of life-threating fungal infections inflicts individuals with altered immune function, such as HIV/AIDS, cancer chemotherapy, and hematology, among others. Rising incidence of invasive fungal infections along with immunodeficiency diseases is another major factor driving demand for antifungal drugs. In addition, ease of application of antifungal treatments in the form of oral tablets, topical cream/ointment, and IV drips, as well as their availability as over-the-counter medications, is a key factor increasing demand for antifungal drugs by the healthcare sector. Moreover, increased R&D for new formulated medications for treatment of fungal infections is contributing to growth of the market. On 21 May 2021, MSN Labs launched Posaconazole under the brand PosaOne, for treatment of deadly black fungus both in form of injections and delayed-release tablets. PosaOne, a triazole antifungal drug recommended for treatment of mucormycosis patients, was introduced as 100mg delayed-release tablets and 300mg injections.
For More Info, Get Sample Report Here @ https://www.emergenresearch.com/request-sample/1146
However, various side-effects of antifungal drugs such as allergic reactions, liver damage, itchy skin, and diarrhea, among others, as well as growing resistance to antifungal medications are expected to restrain growth of the market
Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 13.81 Billion |
| CAGR (2022–2030) | 3.6% |
| Revenue Forecast to 2032 | USD 91.81 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Drug type, indication analysis, route of administration, distribution channel, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | GSK Group of Companies, Novartis AG, Pfizer Inc., Bayer AG, Merck & Co., Inc., Abbott, Astellas Pharma Inc., Enzon Pharmaceuticals, Inc., Glenmark Pharmaceutical Inc., and Leadiant Biosciences, Inc. |
| Customization Scope | 10 hours of free customization and expert consultation |
Click to Purchase this Report at an Exclusively Discounted Rate @ https://www.emergenresearch.com/request-discount/1146
Major Companies and Competitive Landscape
The global antifungal drugs market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective antifungal drugs. Some major players included in the global antifungal drugs market report are:
- GSK Group of Companies
- Novartis AG
- Pfizer Inc.
- Bayer AG
- Merck & Co., Inc.
- Abbott
- Astellas Pharma Inc.
- Enzon Pharmaceuticals, Inc.
- Glenmark Pharmaceutical Inc.
- Leadiant Biosciences, Inc.
Strategic Development
- On 16 May 2022, Novo Holdings which is a leading global life sciences investor, collaborated with Shinogi with its portfolio company F2G Ltd. to develop and commercialize antifungal agent olorofim for treatment of invasive fungal infections in Europe and Asia. F2G is a U.S., UK, and Austria based biotech company, which is focused on discovery and development of novel therapies to treat life-threatening invasive fungal infections. This deal value included upfront payment of USD 100 million with F2G eligibility of additional regulatory and commercial milestones of around USD 380 million in addition to double-digit royalties on net sales and share development costs. Olorofim is a novel oral antifungal therapy drug for treatment of invasive aspergillosis and other rare mold infections, which is developed by F2G. Currently olorofim is in a Phase 2b open-label study and Phase 3 randomized study.
- On 2 June 2021, SCYNEXIS which is a biotechnology company focused on innovative medicines to prevent and overcome difficult-to-treat and drug-resistant fungal infections, was granted approval by the U.S. Food and Drug Administration (FDA) for BREXAFEMME (ibrexafungerp tablets) for oral use in patients diagnosed with Vulvovaginal Candidiasis (VVC). BREXAFEMME represents the first and only oral non-azole treatment for vaginal yeast infections. Leveraging 14 years of patent protections, SCYNEXIS is expected to move forward with its pipeline of ibrexafungerp indications for creation of a long-lasting antifungal franchise in both hospital and community settings.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/1146
Some Key Highlights From the Report
- The azoles segment accounted for a significant revenue share in 2021. Azoles inhibit synthesis of ergosterol, which is a critical component in fungal cell membrane owing to high utilization for treatment of fungal infections of body and skin, thereby driving revenue growth of this segment. In addition, high demand for ketoconazole, fluconazole, and itraconazole for increasing clinical uses for fungal infections, such as Candidiemia, Cryptococcosis, Aspergillosis, and Coccidioidomycosis, among others, is one of the key factors contributing to growth of this segment.
- The dermatophytosis segment accounted for largest revenue share in 2021. Increasing incidence of dermatophytosis cases, which has contagious properties to spread from point of contact and also from animal to human is driving revenue growth of this segment. Moisture and warm conditions is a major factor for rising incidences of dermatophytosis in tropical countries, in addition to sweating, owing to outdoor physical activities in hot humid weather and unhygienic environment.
- The topical segment accounted for a significant revenue share in 2021. Provision of targeting site of infection, reduction in risk of systemic side effects, better efficacy of treatment, and increase patient compliance are some of major key factors driving revenue growth of this segment.
- Online pharmacies segment is expected to register significant growth rate over the forecast period owing to easy accessibility of over-the-counter drugs for treatment. Moreover, growth of this segment is further supported by increased access to online services & faster growth in the number of internet users.
- The Asia Pacific market is expected to register a significant growth rate over the forecast period owing to emergence of pharmaceutical companies, increase in collaborations in pharmaceutical industries in countries such as India, South Korea, and rise in hospital-oriented fungal infections are primary factors driving revenue growth of the market in region. Growing population in countries, such as China and India with increasing disposable income, is contributing to growth of the market.
Browse Detailed Research report @ https://www.emergenresearch.com/industry-report/antifungal-drugs-market
Emergen Research has segmented the global antifungal drugs market based on drug type, indication analysis, route of administration, distribution channel, and region:
- Drug Type Outlook (Revenue, USD Billion; 2019-2030)
- Azoles
- Polyenes
- Echinocandins
- Allylamines
- Indication Analysis Outlook (Revenue, USD Billion; 2019-2030)
- Dermatophytosis
- Candidiasis
- Aspergillosis
- Others
- Route of Administration Outlook (Revenue, USD Billion; 2019-2030)
- Topical
- Oral
- Parenteral
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Online pharmacies
- Retail pharmacies & drug stores
- Hospital pharmacies
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
Curated Reports You Shouldn't Miss: Dive In Now!
Single Cell Sequencing Market By Product, By Workforce, By Technology, By Diseases Type (Oncology, Immunology, Prenatal Diagnosis, Neurobiology, Microbiology), By Application (Circulating Cells, Cell Differentiation/Reprogramming, Subpopulation Characterization, Genomic Variation), By End-Use, Forecasts to 2027
Interventional Cardiology Market By Product (Catheters, Angioplasty Balloons, Plaque Modification Devices, Angioplasty Stents), By End Users (Cardiac Catheterization labs, Hospitals, Ambulatory surgical centers), Forecasts to 2027
CRISPR Technology Market By Product (Enzymes, Kits and Reagents, Guide RNA, Others), By Application (Biomedical, Agriculture, Industrial, Others), By End User (Pharmaceutical and Biotechnology Companies, Academics and Government Research Institutes, CROs) and By Regions Forecasts to 2027
Synthetic Blood Substitutes Market, By Source (Blood and Stem Cell), By Type (Hemoglobin-based Oxygen Carriers and Perfluorocarbons), By Application (Anemia and Injury), By End-User (Hospitals & Clinics and Military), and By Region Forecast to 2030
Neuromorphic Computing Market, By Offering (Hardware, Software), By Deployment (Edge Computing, Cloud Computing), By Application (Image Recognition, Signal Recognition, Data Mining), By Industry (Automotive, Healthcare) By Region Forecast To 2030
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Japanese Version: Antifungal Drugs Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-antifungal-drugs-market
