Anti-Fungal Drugs Market to Grow with a CAGR of 3.18% through 2028
Increasing number of antifungal drugs as over the counter and rising
consumption of antifungal drugs in developing regions is expected to drive the
Global Anti-Fungal Drugs Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Anti-Fungal Drugs Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2028”, the Global Anti-Fungal Drugs Market stood at USD 10.04 billion in
2022 and is anticipated to grow with a CAGR of 3.18% in the forecast period,
2024-2028. The antifungal drugs market is witnessing significant expansion due
to the growing prevalence of various fungal infections, including fungal nail
infections, ringworm, and more.
Moreover, the increasing demand for antifungal drugs as over the counter
(OTC) medications, the rising demand for generic antifungal drugs, the
escalating incidence of nosocomial infections worldwide, and the continuous
drug innovations such as the development of synthetic and semi-synthetic
azole-based compounds for the treatment of invasive fungal infections, among
others, will contribute to the surge in antifungal drug demand.
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Market drivers, such as the increasing prevalence of fungal infections,
present significant growth opportunities for vendors. However, market
participants will face challenges due to factors like the rise of
multidrug-resistant fungal pathogens. To capitalize on these opportunities,
market vendors should prioritize growth prospects in fast-growing segments
while maintaining their positions in slow-growing segments.
Driving demand in the global antifungal drugs market is the growing
awareness of fungal infections and the rising instances of such infections due
to unhygienic environments in densely populated cities. The most prevalent
systemic fungal infection, systemic candidiasis, is expected to drive growth in
the coming years. The availability of various antifungal drugs and the
popularity of over-the-counter antifungal drugs for dermal infections have
positively impacted the market. Antifungal drugs play a crucial role in
inhibiting fungal cell wall development, disrupting cell membranes, and
preventing cell proliferation. The market for antifungal therapies includes
powders, drugs, pastes, and ointments. Azoles antifungal drugs currently hold a
dominant share in the market, driven by increasing awareness.
Additionally, the rising demand for antifungal powder contributes to the
market's revenue growth. Antifungal powder not only cures fungal infections but
also reduces itching, inhibits recurrence, and provides relaxing maintenance
therapy. These drugs help prevent and treat fungal skin infections caused by
sweat and moisture. Therefore, powder-form drugs are used to treat itching,
irritation, rashes, and swelling in various body parts containing Clotrimazole,
which effectively destroys fungi and drives revenue growth. In May 2022,
Bayer's Consumer Health division launched the new and improved Canesten
anti-fungal treatment solution in India, available in powder and cream forms.
These products possess anti-fungal characteristics that aid in the prevention
and treatment of skin infections.
Other factors contributing to market growth include favorable government
initiatives, corporate funds, and growing healthcare budgets in developing
economies. Technological advancements in diagnostic tests and devices have also
contributed to more accurate treatment, further fueling market growth. However,
the continued preference for conventional drugs and the high cost and side
effects of antifungal drugs poses challenges to their swift adoption.
Additionally, the diminishing efficacy of drugs due to increasing fungal
resistance is another market challenge to address.
The Global Anti-Fungal Drugs Market is segmented into drug class,
indication, infection type, route of administration, end user, distribution
channel, regional distribution, and company.
Based on drug class, the azoles segment is anticipated to witness
significant growth during the forecast period. The azole group of compounds
serves as antifungal agents that have greatly expanded therapeutic options for
the treatment of systemic fungal infections. Research in the field of fungal
drugs is rapidly advancing, thanks to the development of new antifungal drugs
utilizing the azole group. Synthetic azoles and semi-synthetic compounds are
extensively utilized for fungal infections, contributing to the projected
substantial growth of this segment over the analysis period. Azole group drugs
are employed for the treatment of various fungal infections, including thrush,
yeast infections, candidiasis, aspergillosis, tinea versicolor, athlete's foot,
jock itch, ringworm, systemic mycosis, and seborrheic dermatitis. The azole antifungal
group encompasses two categories: triazoles (fluconazole, itraconazole,
voriconazole, posaconazole, and isavuconazole) and imidazoles (ketoconazole).
Triazoles find broad applications in the treatment of both external
fungal infections and systemic infections. The azole group offers a wide
spectrum of activity and improved safety standards. These medications exhibit
fewer side effects, minimal drug interactions, and enhanced absorption and
distribution properties. These advantages of azoles have contributed to their
superiority over other components, further propelling the growth of this
segment. Additionally, the development and innovation of such potential drugs
enhance the competitiveness of the pharmaceutical market. In October 2021,
Intas Pharmaceuticals Limited launched an innovative antifungal drug, Super
Bioavailable Itraconazole-SB 100 mg, marketed as Itaspor-SB Forte/Subawin. Furthermore,
in June 2021, Cadila Pharmaceuticals introduced a new triazole antifungal drug,
Posaconazole, which demonstrates efficacy against a wide range of invasive
fungal diseases. The drug has also been recommended as a second-line treatment
for Mucormycosis. Such advancements are expected to drive the growth of this
segment during the forecast period.
Based on region, North America segment is expected to grow during the
forecast period. North America is anticipated to hold a significant share
in the market analysis and is poised to maintain its strong position throughout
the analysis period. This growth can be attributed to various factors,
including the increasing prevalence of fungal infections among the target
population and the heightened company activities for product development across
the region. Among the countries in the region, the United States, along with
Canada and Mexico, stands out as one of the most economically developed.
However, the country has faced challenges in dealing with fungal infections, as
highlighted by the Centers for Disease Control and Prevention (CDC) data
updated in June 2022. According to the CDC, Candida has emerged as a common
cause of bloodstream infections in the United States, with the presence of
drug-resistant strains posing additional concerns. Consequently, there is a
growing demand for anti-fungal drugs in the United States. Furthermore, Canada
has witnessed recent outbreaks of fungal infections, further increasing the
need for anti-fungal drugs. For example, in September 2022, Quebec's health
ministry reported the first-ever outbreak of the potentially deadly fungus
"Candida auris" at Pierre Boucher Hospital in Longueuil. Candida
auris, a type of yeast that can cause severe illness, presents a greater risk
to admitted patients and caregivers in healthcare settings. These instances,
coupled with the burden of infections, have underscored the necessity for
anti-fungal drugs and are expected to fuel market growth in the region.
Moreover, market players' product approvals and launches are
intensifying competition. Notably, in June 2021, Scynexis announced the FDA
approval of Brexafemme for the treatment of vaginal yeast infections.
Additionally, in January 2021, Sandoz Canada Inc. introduced PrSandoz
Posaconazole, becoming the first company to offer posaconazole generics in the
Canadian market. Sandoz Posaconazole is utilized for treating Aspergillus
fungal infections and preventing fungal infections caused by Aspergillus and Candida,
particularly in oncology patients with a history of stem cell transplant. These
company activities, along with the burden of fungal infections, are expected to
drive market growth in the region throughout the forecast period.
Major companies operating in Global Anti-Fungal Drugs Market
are:
- Abbott
Laboratories Inc.
- Astellas
Pharma Inc.
- Bayer AG
- GSK plc
- Glenmark
Pharmaceuticals Limited
- Merck
& Co. Inc.
- Novartis
AG
- Pfizer
Inc.
- Mycovia
Pharmaceuticals, Inc.
- Apex
Laboratories Pvt. Ltd.
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“The increasing prevalence of fungal and nosocomial infections is a key
factor that contributes to a positive market outlook. Antifungal drugs
demonstrate efficacy against both systemic and superficial infections acquired
from exposure to contaminated surfaces in hospitals or humid conditions.
Furthermore, the convenient availability of over the counter (OTC) drugs in
urban and rural areas propels market growth. As health consciousness rises
among the masses, consumers increasingly choose OTC therapeutics for timely
treatment of minor infections. Moreover, product innovations, such as the
development of synthetic and semi-synthetic azole-based compounds for invasive
fungal infection treatment, serve as growth-inducing factors. Pharmaceutical
manufacturers invest extensively in research and development (R&D) of novel
therapeutics in the form of sprays, creams, tablets, and injections with
enhanced efficacy. Additionally, significant growth in the pharmaceutical
industry, coupled with favorable government policies promoting public health,
is anticipated to drive market growth.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Anti-Fungal Drugs Market Segmented By Drug Class (Azoles, Echinocandins,
Polyenes, Allylamines, Others), By Indication (Candidiasis, Aspergillosis,
Mucormycosis, Dermatophytosis, Others), By Infection Type (Superficial Fungal
Infection, Systemic Fungal Infection), By Route of Administration (Topical,
Oral, Parenteral, Others), By End User
(Homecare, Hospitals, Clinics, Others), By Distribution Channel (Retail
Pharmacy, Hospital Pharmacy, Online Pharmacy), By Region and Competition, Forecast &
Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Anti-Fungal Drugs Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Anti-Fungal Drugs Market.
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