Antifungal Drugs Market Growth, Top Manufacturer Analysis and Forecast to 2030

Posted on 2023-04-13 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Apr 13, 2023 — /EPR Network/ —

Antifungal Drugs Industry Overview

The global Antifungal Drugs Market size is expected to reach USD 20.52 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.74% from 2023 to 2030. The increasing incidence of fungal infections worldwide is the key factor stoking the growth of the market. In addition, the rise in the adoption of immunosuppressive and antineoplastic agents, prosthetic devices and grafts, and broad-spectrum antibiotics has resulted in an increased incidence of fungal infections in recent years.

According to statistics published by the Centers for Disease Control and Prevention in 2017, it has been estimated that every year, nearly 220,000 new individuals are affected by cryptococcal meningitis, which is a brain infection and has resulted in 181,000 deaths per year around the world. Most of the deaths were reported in sub-Saharan Africa, due to the high prevalence of HIV/AIDS. This indicates the potential demand for antifungal drugs due to the high prevalence of mycological infections around the globe.

The government authorities in many countries had ordered nationwide lockdowns in order to contain the spread of COVID-19. Similarly, health systems in a number of countries around the world were having trouble maintaining their supply chains. The slowness of the supply chain has also impacted the demand for antifungal medications. As aged people are more prone to infectious diseases and chronic conditions, including HIV and cancer, the rise in the geriatric population worldwide is likely to stir up the demand for antifungals to treat opportunistic fungal infections. The demand for fungistatic agents is estimated to remain strong through 2030 due to mounting cases of fungal infections that are difficult to diagnose, yielding high mortality and morbidity rates.

Antifungal Drugs Market Segmentation

Grand View Research has segmented the global antifungal drugs market by drug class, indication, dosage form, distribution channel and region:

Based on the Drug Class Insights, the market is segmented into Azoles, Echinocandins, Polyenes, Allylamines and Others.

The Azoles drug class segment dominated the market for antifungal drugs and accounted for a revenue share of 47.5% in 2022 with leading therapeutic agents such as Noxafil, Vfend, Diflucan, and Cresemba.
Allylamines are synthetic fungicidal agents that are anticipated to register a CAGR of over 2.2% during the forecast period. These drugs are prescribed for nail infections, jock itch, athlete foot, and ringworms.

Based on the Indication Insights, the market is segmented into Dermatophytosis, Aspergillosis, Candidiasis and Others.

Candidiasis, which is the most commonly occurring systemic fungal infection, is expected to exhibit the fastest CAGR of 4.2% over the forecast period. It is a yeast infection caused by genus Candida.
The dermatophytosis segment is anticipated to hold a sizeable share in the market during the forecast period due to the rising incidence of skin infections in children. In the recent decade, the incidence of this infection has considerably increased due to an unhealthy lifestyle.

Based on the Dosage Form Insights, the market is segmented into Oral Drugs, Ointments, Powders and Others.

Based on the Distribution Channel Insights, the market is segmented into Hospital Pharmacies, Retails Pharmacies and Others.

Antifungal Drugs Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

Key players are adopting competitive strategies, such as product development and collaborative agreements, to capture a greater market share.

Some prominent players in the global Antifungal Drugs market include

Novartis AG
Pfizer, Inc.
Bayer AG
Sanofi
Merck & Co., Inc.
GlaxoSmithKline plc
Abbott
Glenmark
Enzon Pharmaceuticals, Inc.
Astellas Pharma, Inc.

Order a free sample PDF of the Antifungal Drugs Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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