Blastomycosis Market Expected to Reach $257.7 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Blastomycosis Market," The blastomycosis market size was valued at $177.16 million in 2021, and is estimated to reach $257.7 million by 2031, growing at a CAGR of 3.8% from 2022 to 2031. 

Blastomycosis is a fungal infection caused by the organism Blastomyces dermatitidis. It causes pulmonary infection after the inhalation of spores, and it may be either asymptomatic or have severe life-threatening complications such as acute respiratory distress syndrome. Primary cutaneous blastomycosis, though rare, can occur due to direct inoculation after trauma to the skin. Unlike other deep fungal infections that occur predominantly in immunocompromised patients, blastomycosis occurs in immunocompetent hosts. In infected cells, blastomycosis dermatitidis is seen as budding yeast cells that are relatively large at 8 to 10 micrometers in diameter.

In blastomycosis, Blastomyces dermatitidis converts to the yeast form, the thick wall of yeast provides resistance to phagocytosis and killing, which can result in symptomatic pulmonary infection. Common sources of blastomycosis outbreaks include soil-damaging activities such as construction, excavation, or outdoor recreation activities such as hunting, fishing, camping near lakes or rivers. The medicines such as azoles, amphotericin B, and echinocandins are used in the form of drug, ointment, and powder for the treatment of blastomycosis.

The COVID-19 outbreak is anticipated to have a negative impact on the blastomycosis market. This was due to the increased risk of severe disease due to compromised immune systems for many individuals. In addition, these patients and the manufacturers of their therapies had to face challenges including ensuring patient access to therapy, supply chain issues and setbacks in research efforts.

Growth of the blastomycosis market share is majorly driven by rise in diagnostic procedure to detect the chronic infection, rise in prevalence of chronic diseases, increase in bone marrow & organ transplantation, increase in hematological cancer cases, and rise in demand for amphotericin B therapy. In addition, rise in cases of immunological diseases, rise in prevalence of blastomycosis and increase in prevalence of human immunodeficiency virus (HIV) fuel Blastomycosis Market Growth.

For instance, according to the Centers for Disease Control and Prevention, the yearly incidence rates of blastomycosis are approximately 1 to 2 cases per 100,000 population in U.S. and Canada. In northern countries such as Russia, and Finland, yearly rates range from 10 to 40 cases per 100,000 persons.

On the basis of formulation, the liquid segment generated maximum revenue in 2021 and is also expected to witness highest CAGR during the forecast period, owing to high adoption of liquid formulation for the treatment of blastomycosis fungal infection and increase in prevalence of fungal infection. In addition, surge in requirement of quick onset of action in treatment of blastomycosis has propelled the growth of liquid segment.

On the basis of drug type, the azoles segment generated maximum revenue in 2021, and is also expected to witness highest CAGR during the forecast period, owing to rise in number of fungal infections such as blastomycosis, candidiasis, immunological disease, and rise in awareness regarding use of azole drug for the treatment of blastomycosis. The growth of azoles segment is also associated with increase in use of azole drug in combination with other drug for synergistic effect.

On the basis of distribution channel, the online pharmacy segment is expected to witness highest CAGR during the forecast period, owing to increase in discounted rates for patients, increase in convenience in shopping, continuous services for providing blastomycosis medicine, and availability of a wide range of options for purchasing medicine.

Depending on region, LAMEA is expected to witness highest CAGR during the forecast period, owing to increase in populations, rise in prevalence of immunological diseases such as tuberculosis, HIV diseases, and rise in awareness regarding use of azoles for the treatment of blastomycosis.

KEY FINDINGS OF THE STUDY

• On the basis of type of formulation, the liquid segment held the largest share in the blastomycosis industry in 2021.
• By drug type, the azoles segment held the largest share in the blastomycosis market in 2021.
• Extensive analysis of the market based on procedures and services assists to understand the Blastomycosis market trends in the industry.
• On the basis of distribution channel, the hospital and clinical pharmacy segment held the largest market share in 2021.
• On the basis of region, North America held the largest market share in 2021