Antifungal Drugs Market Overview:
Global Antifungal Drugs Market was valued at $13,719 million in 2016, and is expected to reach at $17,718 million by 2023, registering a CAGR of 3.7% from 2017 to 2023. Antifungal drugs detect and eliminates fungal pathogens providing minimal side effect to the body. The fungal infection in the body is caused due to unhygienic and unclean environments wherein fungal agent thrive. These fungal agents multiply by spreading spores that subsequently lead to infection on skin (superficial) or when inhaled (systemic)-fungal infections. The fungal infection leads to candidiasis, fungal pneumonia, mucormycosis, and other diseases. These infections are mostly non-lethal, but can result in death in rare cases.
Continuous focus of key players towards the development of new generic as well as innovative anti-infective drugs and formulation technologies to combat serious fungal infections drive the market. This is evident from the various launches made by many major players. For instance, in 2016, Basilea Pharmaceutica Ltd. launched CRESEMBA (isavuconazole) in UK. This is a new azole antifungal drug prescribed for treatment of mucormycosis.
The global antifungal drugs market is segmented based on drug type, therapeutic indications, dosage forms, infection type, and geography. Based on drug type, it is classified into echinocandins, azoles, polyenes, allylamines, and other drugs. Further, based on therapeutic indications the market is categorized into aspergillosis, dermatophytosis, candidiasis, and others. In terms of dosage forms, it is divided into powders, ointments, drugs, and pastes. Based on infection type, the market is bifurcated into superficial and systemic antifungals. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Among the drug type, azole occupied three-eighths of the total market share in 2016, which is highest amongst all, and is expected to maintain this trend during the forecast period. This is due to the rise in awareness about drug availability and fungal infections globally. In the indication type, the dermatophytosis is expected to grow at a highest CAGR of 4.1% during the forecast period.
Global Antifungal Drugs Market Segmentation
Drivers, Restraints, and Opportunities
Factors that accelerate the demand for antifungal drugs are growth in prevalence of fungal infection, rise in awareness levels pertaining to myriad fungal infections, and increase in demand for anti-fungal drugs to combat the related diseases. However, presence of counterfeit drugs and resistance toward antifungal drugs restrict market growth. In addition, increase in R&D expenditure coupled with funding from the public & private sector is expected to provide lucrative growth opportunities to the antifungal drugs market.
Impact Analysis: Drivers & Restraints
India Antifungal Drugs Market
The rise in awareness toward personal care drives the antifungal drugs market growth in India. In addition, India provides a tropical environment for breeding of diverse types of fungi, and therefore provides a lot of opportunities to the pharmaceutical vendors to keep the drug market flooded with various anti-fungal drugs. Hence, the antifungal drugs market is expected to flourish in the near future in India.
The report provides a comprehensive analysis of the key players operating in the global antifungal drugs market such as Pfizer Inc., Sanofi S.A., Gilead Sciences, Inc., Merck & Co., Inc., Novartis International AG, Abbott Laboratories, Bayer AG, Scynexis Inc., Enzon Pharmaceuticals, Inc., and GlaxoSmithKline Plc.
The other players of the global antifungals drugs market include Astellas Pharma, Inc., Sigma-Aldrich Corporation, Agilent Technologies, Inc., Beckman Coulter, Inc. (a subsidiary of Danaher Corporation), Kramer Laboratories, Basilea Pharmaceutical Ltd., Valeant Pharmaceuticals International, Inc., and Tecan Group.
- The study provides an in-depth analysis of the global antifungals drugs market, with current trends and future estimations to elucidate the imminent investment pockets.
- A quantitative analysis from 2016 to 2023 is discussed to enable the stakeholders to capitalize on the prevailing market opportunities.
- Key market players are profiled and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market.
- Porters Five Forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
Antifungal Drugs Market Key Segments:
By Drug Type
- Amphotericin B
By Infection Type
- Superficial Antifungal Infections
- Systemic Antifungal Infections
By Therapeutic Indications
By Dosage Forms
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA