New York, USA, March 15, 2023 (GLOBE NEWSWIRE) -- The Global Antifungal Drugs Market to Surpass USD 19 Billion Mark by 2027 | DelveInsight
The antifungal drugs market is expanding rapidly due to the increasing prevalence of various fungal infections such as fungal nail infections, ringworm, vaginal candidiasis, aspergillosis, candida infections of the mouth, throat, and esophagus, fungal eye infections, and others. Furthermore, rising demand for antifungal drugs as over-the-counter (OTC), rising demand for generic antifungal drugs, rising incidence of nosocomial infections worldwide, rising drug innovations, such as the development of synthetic and semi-synthetic azole-based compounds for treatment of invasive fungal infections, and others, will all contribute to rising antifungal drug demand.
DelveInsight’s Antifungal Drugs Market Insights report provides the current and forecast market analysis, individual leading antifungal drugs companies’ market shares, challenges, antifungal drugs market drivers, barriers, and trends, and key antifungal drugs companies in the market.
Key Takeaways from the Antifungal Drugs Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global antifungal drugs market during the forecast period.
- Notable antifungal drugs companies such as Abbott., Bayer AG, GSK plc., Merck & Co., Inc., Cadila Pharmaceuticals., Glenmark, SCYNEXIS, Inc., Astellas Pharma d.o.o., Arcadia Consumer Healthcare, Novartis AG, Pfizer Inc., Leadiant Biosciences, Inc., Sun Pharmaceutical Industries Ltd., Viatris Inc., Sanofi, Gilead Sciences, Inc., Apotex Inc., Aurobindo Pharma USA, Cipla Inc., Dr. Reddy's Laboratories Ltd., and several others are currently operating in the antifungal drugs market.
- In December 2022, F2G Inc. announced that the FDA has accepted for filing of its New Drug Application (NDA) for olorofim for the treatment of invasive fungal infections in patients with limited or no treatment options.
- In October 2022, Zydus Lifesciences, formerly Cadila Healthcare, announced that it had received final approval from the US Food and Drug Administration to market its antifungal medicine Micafungin, which is used to treat certain types of fungal or yeast infections.
- In May 2022, Bayer announced the launch of the new and improved range of Canesten, their anti-fungal treatment solution in India.
- In May 2022, the US Food and Drug Administration approved Vivjoa (oteseconazole) by Mycovia Pharmaceuticals’ azole antifungal for chronic vaginal yeast infection.
To read more about the latest highlights related to the antifungal drugs market, get a snapshot of the key highlights entailed in the Global Antifungal Drugs Market Report
Antifungal Drugs Overview
Antifungal medication, also known as antimycotic medication, is a pharmaceutical fungicide or fungistatic used to treat and prevent mycosis, including ringworm, candidiasis, and cryptococcal meningitis. To combat fungal infections, several anti-fungal medications are available. Antifungal medications are extremely diverse. They are administered orally, topically, or intravenously. Fungal diseases are a public health concern because they can affect anyone. On the other hand, fungal infections pose a serious threat to people with weakened immune systems, such as AIDS patients. These patients have a high risk of developing opportunistic fungal infections.
Antifungal Drugs Market Insights
North America dominated the global antifungal drugs market in 2021 and will continue to do so through the forecast period of 2022–2027. This is due to an increase in the demand for antifungal drugs among patients in the region due to the increasing prevalence of various fungal infections such as athlete’s foot, jock itch, ringworm, Aspergillosis, Candidiasis, and others. Furthermore, the growing availability of antifungal drugs as over-the-counter (OTC), rising awareness about the treatment of fungal infections, and the presence of key domicile players all contribute to the growth of the antifungal drugs market in North America between 2022 and 2027.
Moreover, several players are conducting clinical trials on antifungal drugs, allowing the antifungal drugs market to grow in the coming years. Scynexis, Inc., a biotech company based in the United States, is conducting a multicenter, open-label, non-comparator, single-arm study to evaluate the efficacy and safety of ibrexafungerp in patients 18 years of age with invasive and severe fungal disease that has been intolerant or refractory (rIFI) to Standard of Care (SoC) antifungal treatment.
Furthermore, the regional market players constantly focus on developing novel drugs to combat fungal infections using antifungal drugs and various strategies to develop better drugs with fewer side effects. As a result, the market in the region is likely to be driven by this. For example, in May 2022, the FDA approved Mycovia Pharmaceuticals’ azole antifungal Vivjoa (oteseconazole) for chronic vaginal yeast infection. Tetrazole oteseconazole inhibits fungal CYP51 enzymes but not human CYP enzymes. Because human enzyme inhibition accounts for the side effects of other azole antifungals, the side effects are reduced.
To know more about why North America is leading the market growth in the antifungal drugs market, get a snapshot of the Antifungal Drugs Market Outlook
Antifungal Drugs Market Dynamics
According to the most recent Global Action for Fungal Infections study, over 300 million people worldwide are affected by a serious fungal infection each year. Furthermore, according to the same source, invasive aspergillosis affects nearly 1 million people worldwide yearly, while invasive candidiasis affects nearly 750K people. Furthermore, the rising prevalence of nosocomial or hospital-acquired infections will propel the antifungal drugs market during the forecast period. In addition, rising awareness of many fungal infections, an increase in the number of over-the-counter antifungal (OTC) drugs, and increased use of antifungal drugs in developing countries, among other factors, will all contribute to the growth of the antifungal drugs market.
However, rising antifungal drug resistance, antifungal drug side effects, and a stringent regulatory approval process may stall antifungal drugs market growth.
Additionally, during the COVID-19 pandemic, the antifungal drugs market was moderately impacted. During the pandemic's early stages, antifungals' sales plummeted due to strict lockdown rules and disruptions in manufacturing and supply. However, during the pandemic, the government classified medicines and drugs as emergency products, increasing demand or sales. Furthermore, with the involvement of online pharmacies, the sale of many over-the-counter medicines increased, impacting the antifungal drugs market. Similarly, the ease of lockdown restrictions, the upturn of resources and supply chain, the administration of a vaccine to the public, and the increasing number of treatment rates for mental disorders all contribute to an increase in demand for antifungal drugs, which is expected to continue throughout the forecast period of 2022–2027.
Get a sneak peek at the antifungal drugs market dynamics @ Antifungal Drugs Market Dynamics Analysis
|Antifungal Drugs Market CAGR||~5%|
|Projected Antifungal Drugs Market Size by 2027||USD 19.16 Billion|
|Key Antifungal Drugs Companies||Abbott., Bayer AG, GSK plc., Merck & Co., Inc., Cadila Pharmaceuticals., Glenmark, SCYNEXIS, Inc., Astellas Pharma d.o.o., Arcadia Consumer Healthcare, Novartis AG, Pfizer Inc., Leadiant Biosciences, Inc., Sun Pharmaceutical Industries Ltd., Viatris Inc., Sanofi, Gilead Sciences, Inc., Apotex Inc., Aurobindo Pharma USA, Cipla Inc., Dr. Reddy's Laboratories Ltd., among others|
Antifungal Drugs Market Assessment
- Antifungal Drugs Market Segmentation
- Market Segmentation By Indication: Aspergillosis, Dermatophytosis, Candidiasis, and Others
- Market Segmentation By Drug Type: Echinocandins (Caspofungin, Micafungin, and Others), Azoles (Voriconazole, Posaconazole, Clotrimazole, and Others), Polyenes (Amphotericin and Others), Allylamines (Terbinafine and Others), and Others
- Market Segmentation By Dosage Form: Powder, Ointments, Tablets, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the antifungal drugs market are set to emerge as the trendsetter explore @ Antifungal Drugs Companies
Table of Contents
|3||Regulatory and Patent Analysis|
|4||Key Factors Analysis|
|5||Porter’s Five Forces Analysis|
|6||COVID-19 Impact Analysis on Antifungal Drugs Market|
|7||Antifungal Drugs Market Layout|
|8||Global Company Share Analysis – Key 3-5 Companies|
|9||Antifungal Drugs Market Company and Product Profiles|
Interested in knowing the antifungal drugs market by 2027? Click to get a snapshot of the Antifungal Drugs Market Trends
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