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Forecast Period
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2024-2028
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Market Size (2022)
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USD 10.04 Billion
|
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CAGR (2023-2028)
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3.18%
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Fastest Growing Segment
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Azoles
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Largest Market
|
North America
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Market Overview
Global Anti-Fungal Drugs Market has valued at USD 10.04 Billion in 2022
and is anticipated to project impressive growth in the forecast period with a
CAGR of 3.18% through 2028. Antifungal medications are commonly prescribed to
treat fungal infections. These medications can be administered orally,
topically, or intravenously via an IV drip. Fungal infections such as yeast
infections, ringworm, nail and skin diseases can be caused by fungi present in
the soil, air, and skin. Inhaling fungal spores may also lead to respiratory
issues. Therefore, individuals with weakened immune systems are more
susceptible to fungal infections, necessitating the use of antifungal
medication. Most of these medications require a doctor's prescription, although
a few are available over the counter.
There are two main categories of antifungal drugs: local and systemic.
Depending on the specific condition being treated, local antifungals are
commonly applied topically or vaginally, while systemic antifungals are
administered orally or intravenously. Examples of systemically administered
medicines include itraconazole, fluconazole, ketoconazole, voriconazole,
posaconazole, and isavuconazole. Antifungal medications can function in one of
two ways: they can directly kill fungal cells or inhibit their growth and
development. Moreover, antifungal medications work by targeting structures or
functions that are essential in fungal cells but not in human cells, allowing
them to combat fungal infections without harming human cells. The fungal cell
membrane and cell wall are frequently targeted components, as they surround and
protect the fungal cell. Compromising either of these structures can cause the
fungal cell to burst open and die.
Key Market Drivers
Rising Prevalence of Fungal Infections
The increasing prevalence of fungal infections is a key driver for the
revenue growth in the market. Research indicates that fungal pathogens are
responsible for approximately 13 million infections and 1.5 million deaths
worldwide each year. Antifungal medications are also administered orally. On
March 30, 2023, GSK plc and SCYNEXIS, Inc. announced an exclusive license
agreement for Brexafemme, a first-in-class antifungal approved by the U.S. Food
and Drug Administration (FDA) for the treatment of Vulvovaginal Candidiasis
(VVC) and the reduction of the incidence of recurrent VVC (RVVC). This
exclusive licensing deal grants GSK the sole right to commercialize Brexafemme
for VVC and RVVC while continuing the development of ibrexafungerp, which is
currently in phase III clinical trials for the possible treatment of Invasive
Candidiasis (IC), a potentially fatal fungal infection.
The prevalence of fungal infections has been on the rise in recent
years, prompting concerns within the healthcare industry. Contributing factors
to this alarming trend include increasing global temperatures, the prevalence
of chronic illnesses, and compromised immune systems. Hospital-acquired fungal
infections, or nosocomial infections, have become a significant concern, with
approximately 1.7 million hospitalized patients contracting such infections in
2019, according to the Centers for Disease Control and Prevention (CDC).
In response, the global antifungal drugs market is experiencing
significant growth, with market players developing advanced treatment methods
such as azoles to effectively combat these infections.
Increasing Hospitalizations
The increasing number of hospitalizations is a crucial factor
contributing to the growing incidence of fungal infections acquired within
healthcare settings. This is particularly prevalent among individuals with
chronic illnesses such as cancer and those undergoing hematopoietic stem cell
transplantation, whose weakened immune systems necessitate frequent hospital
visits and extended stays. As these patients often require intensive medical
interventions and prolonged periods of hospitalization, they become more
susceptible to opportunistic fungal pathogens that thrive in healthcare
environments.
It is important to note that these risks are even more pronounced in low
and middle-income economies with inadequate healthcare infrastructure. In these
settings, limited resources and overcrowding can further exacerbate the spread
of nosocomial infections, posing a significant threat to patients' well-being.
The lack of proper infection control measures and the absence of effective
antifungal treatment options in these regions further compound the challenges
faced by healthcare providers.
In light of these challenging conditions, the global antifungal drugs
market is expected to flourish as it strives to address and combat these
complex healthcare challenges. The development of innovative antifungal
therapies and the implementation of comprehensive infection control protocols
are paramount to reducing the burden of fungal infections and improving patient
outcomes worldwide.
Increasing Investment for Healthcare Infrastructure
Another significant factor influencing the growth rate of the antifungal
drugs market is the rising healthcare expenditure, which not only helps in
improving infrastructure but also contributes to the development of advanced
treatment options. With increased funding, healthcare facilities can upgrade
their capabilities and invest in research and development to discover more
effective antifungal medications.
Furthermore, there are rising initiatives by both public and private
organizations to spread awareness about the prevalence and severity of myriad
fungal infections. These awareness programs aim to educate the general public
as well as healthcare professionals about the importance of early diagnosis and
appropriate treatment. This concerted effort to enhance knowledge and
understanding of fungal infections is expected to drive the demand for
antifungal drugs and expand the market.
Additionally, the market is expected to witness growth due to factors
such as high disposable income and the increasing availability of antifungal
drugs as over-the-counter (OTC) medications. The ease of access and convenience
offered by OTC antifungal drugs is likely to contribute to their widespread use
and drive market expansion.
Moreover, the geriatric population is on the rise globally, leading to
an increased prevalence of various medical conditions, including fungal
infections. As a result, there is a growing demand for antifungal drugs in
developing regions to cater to the healthcare needs of the aging population.
This demographic shift, coupled with the rising consumption of antifungal drugs
for various medical conditions, is expected to further enhance the growth rate
of the antifungal drugs market. The combination of rising healthcare
expenditure, awareness initiatives, availability of OTC drugs, and the
increasing demand from the geriatric population is fueling the growth of the
antifungal drugs market.
Increasing Number of Antifungal Drugs as Over the counter (OTC)
The increasing availability of antifungal drugs as over the counter
(OTC) medications is indeed contributing to the rising demand for these
pharmaceuticals. Antifungal drugs are essential for treating a wide range of
fungal infections, including athlete's foot, yeast infections, and ringworm.
OTC antifungal drugs are readily available at pharmacies, drugstores, and even
online marketplaces. Patients can purchase them without needing a prescription,
making them more accessible to individuals seeking relief from common fungal
infections. The OTC availability empowers individuals to self-diagnose and
self-treat common fungal infections. They no longer need to visit a healthcare
professional for every minor infection, which not only saves time but also
reduces the burden on healthcare systems. As OTC antifungal medications become
more prevalent, consumers become increasingly aware of their availability and
efficacy. This awareness drives the demand, as individuals are more likely to
seek treatment when they know effective remedies are easily accessible. OTC
antifungal drugs offer privacy and convenience to consumers. Many people prefer
to address fungal infections discreetly without discussing their condition with
a healthcare provider. This preference for privacy encourages individuals to
purchase these medications independently.
The increasing number of antifungal drugs available as OTC medications
is expanding their demand. This shift empowers consumers to take charge of
their health and treat common fungal infections independently, contributing to
the overall accessibility and utility of antifungal drugs in managing a range
of fungal-related conditions.
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Key Market Challenges
Adverse Health Effects
There are several disadvantages associated with antifungal drugs. One
key factor is that individuals with weakened immune systems, such as those with
acquired immunodeficiency syndrome (AIDS), lupus, cancer, and other conditions,
are more susceptible to dangerous fungal infections known as opportunistic
infections. This vulnerability poses a challenge to the revenue growth of the
antifungal drug market.
Furthermore, the type of medicine, dosage strength, and the specific
fungus being treated can all influence the outcome of the medication. Common
side effects may include pain in the abdomen, unsettled stomach, diarrhea, and
itchy, scorching, or rashy skin. These symptoms can also have a negative impact
on the revenue growth of the market.
In addition to these challenges, antifungal medication can produce major
side effects, including liver damage such as jaundice, anaphylaxis, and other
severe allergic responses. Blisters and peeling skin are also symptoms of
severe allergic skin reactions that can occur as a result of using antifungal
drugs. Considering these factors, it becomes evident that while antifungal
drugs are necessary for treating fungal infections, they do come with
significant drawbacks that need to be taken into account.
Increasing Resistance to Antifungal Drugs
The increasing resistance to antifungal drugs is a concerning trend that
has the potential to decrease the demand for these medications. Antifungal
resistance occurs when fungi develop mechanisms to withstand the effects of
antifungal drugs, rendering them less effective or ineffective. Antifungal
resistance can complicate the treatment of fungal infections. When antifungal
drugs become less effective, patients may require higher doses, prolonged
treatment courses, or more potent medications. This can lead to increased
healthcare costs and potential side effects, making individuals less inclined
to seek treatment. As resistance emerges, it may limit the number of effective
antifungal drugs available. This reduction in treatment options can be
particularly problematic in cases of severe or drug-resistant fungal
infections, potentially reducing the demand for antifungal drugs. The need for
alternative antifungal drugs or combination therapies to combat resistant
infections can lead to higher healthcare expenditures. Patients and healthcare
providers may be hesitant to invest in expensive treatments, affecting the
overall demand for these medications. Antifungal resistance is a public health
concern as it can lead to treatment failures, increased mortality rates, and
the spread of resistant fungal strains. Such concerns may prompt healthcare
systems and organizations to implement stricter control measures, including the
restriction of antifungal drug use, which can impact demand.
Key Market Trends
Increase In the Number of Research and Development Activities
The increase in the number of research and development (R&D)
activities in the field of antifungal drugs is expected to significantly boost
the demand for these medications. Antifungal drugs are critical for treating a
wide range of fungal infections, from superficial conditions like athlete's
foot to life-threatening systemic infections. Increasing R&D investments
lead to the discovery of new antifungal compounds and formulations. These
innovations are likely to result in the development of more effective drugs
with improved mechanisms of action, enhancing the arsenal of treatment options
available. R&D efforts are dedicated
to understanding and combating antifungal resistance. Researchers are working
to identify the mechanisms behind resistance and develop strategies to overcome
it. This will ensure the continued effectiveness of antifungal drugs, driving
their demand. Research in the field of fungal biology is uncovering specific
molecular targets within fungal cells that can be exploited for drug development.
Targeted therapies can enhance drug efficacy and reduce side effects, making
antifungal drugs more appealing to healthcare providers and patients.
Technological Progress in Diagnostic Tests and Devices
Technological progress in diagnostic tests and devices is expected to
play a crucial role in increasing the demand for antifungal drugs.
Technological progress enables the earlier and more precise identification of
fungal infections. Rapid diagnostic tests can quickly confirm the presence of
fungi, allowing healthcare providers to initiate treatment promptly. This early
intervention is critical for preventing the progression of fungal infections,
increasing the demand for antifungal drugs. Advanced diagnostic methods can
differentiate between various fungal species, helping tailor treatment
approaches. Some antifungal drugs are more effective against specific fungi,
and accurate species identification ensures the selection of the most
appropriate medication, potentially driving the demand for targeted antifungal
agents.
Modern diagnostic devices can assess the susceptibility of fungal
isolates to different antifungal drugs. This information guides clinicians in
choosing the most effective treatment, reducing the likelihood of resistance
development and fostering demand for specific antifungal medications.
Segmental Insights
Drug Class Insights
In 2022, the Azoles
medicine class segment, which includes popular therapeutics such as Noxafil,
Diflucan, Vfend, and Cresemba, emerged as the leading market segment for
antifungal drugs. This dominance can be attributed to the broad spectrum of
activity exhibited by Azoles. By inhibiting fungal enzymes, these substances
facilitate fungistatic actions. Azoles are prescribed for the treatment of
ocular fungal infections, systemic candidiasis, blastomycosis, and candidemia.
Triazoles and imidazoles, two types of azoles, are also utilized for managing
systemic fungal infections due to their extensive range of activity and
favorable safety profile. Triazoles possess superior absorption and
distribution characteristics, fewer side effects, and minimal risk of drug
interactions.
The market for
antifungal medications is expected to witness slow growth, primarily due to the
escalating drug resistance among Candida and Aspergillus species, particularly
against azoles. Conversely, synthetic fungicidal compounds called allylamines
are projected to exhibit a steady compound annual growth rate (CAGR) throughout
the forecast period. These medications are recommended for the treatment of
ringworm, athlete's foot, jock itch, and nail infections. Following
fluconazole, Lamisil is the topical antifungal drug most frequently recommended
by dermatologists for systemic antifungal therapy. Consequently, the increasing
prevalence of dermatological conditions is anticipated to further augment the
growth of this segment.
Indication Insights
The most prevalent
systemic fungal infection, candidiasis, is projected to have the highest
compound annual growth rate (CAGR) during the forecast period. It is caused by
the Candida genus and its treatment has evolved over time. Appropriate use of
echinocandins and broad-spectrum azoles is recommended for the treatment of
mucosal candidiasis, candidemia, and invasive candidiasis, among other changes.
The increasing number of individuals susceptible to fungal infections is a
significant driver for the market. Furthermore, the growing awareness among
patients and healthcare professionals is expected to contribute to the demand
for antifungal medications.
The dermatophytosis
category is expected to hold a significant market share throughout the forecast
period due to the rising prevalence of skin infections in children. Unhealthy
lifestyles have contributed to a significant increase in the prevalence of this
infection over the past decade. Immunocompromised patients are particularly
concerned due to their susceptibility to severe lesions and atypical symptoms
caused by fungi.
Other indications
include endocarditis, rhino-cerebral mucormycosis, and invasive pulmonary
aspergillosis. One of the main challenges faced by physicians is the limited
treatment options available for invasive fungal infections compared to
bacterial infections. Only a few therapeutic molecule classes have been
developed in the past 30 years. Developing effective therapeutic drugs for
managing systemic fungal infections in immunocompromised patients is a key area
of interest for industry players. The exploration of innovative therapies
through public-private partnerships is expected to offer significant growth
potential for the industry.
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Regional Insights
North American market accounted for the largest revenue share in 2022,
primarily driven by the increasing prevalence of fungal infections and diseases
in the United States and Canada. This region's revenue growth is further
supported by rising investments in research and development activities, a
higher number of drug approvals, and the presence of well-developed healthcare
systems and treatment facilities. Additionally, the market benefits from the
strategic initiatives undertaken by major players in the region. For instance,
on April 28, 2021, Pfizer Inc. announced the acquisition of Amplyx
Pharmaceuticals, Inc., a privately held company focused on developing medicines
for debilitating and life-threatening diseases in individuals with weakened
immune systems. Amplyx's main chemical, Fosmanogepix (APX001), is a unique
experimental asset in development for the treatment of invasive fungal
infections.
In Europe, the market is expected to witness significant revenue growth
during the forecast period, driven by increasing research and development
projects, rising healthcare spending and infrastructure, and the fast-track FDA
approvals. Notably, on December 15, 2021, Ibrexafungerp, a novel antifungal
agent developed by SCYNEXIS to treat and prevent incurable and drug-resistant
infections, received orphan medical product designation from the European
Medicines Agency (EMA) for the indication of invasive candidiasis.
Recent Developments
- June 2022: Apex Labs
unveiled the advanced Supra Bioavailable Itraconazole 65 and 130 mg capsules, a
potent therapeutic option for effectively managing fungal infections. Supra
Bioavailable Itraconazole capsules deliver a higher percentage (90 percent) of
active medicine to the biological system with a reduced dosage. This advanced
formulation also ensures minimal inter-individual variability, potentially
leading to improved efficacy in fungal infection management, as stated by the
company.
- April 2022: The
United States Food and Drug Administration (US FDA) granted approval for VIVJOA
(oteseconazole capsules), an azole antifungal indicated for the reduction of
recurrent vulvovaginal candidiasis (RVVC) in females. VIVJOA represents the
first and only FDA-approved medication for this condition and serves as Mycovia
Pharmaceuticals, Inc.'s inaugural FDA-approved product.
- June 2021: Mankind
Pharma introduced Posaconazole Gastro, a novel medication utilized in the
treatment of black fungus, known for its resistance. It has been identified as
a preferred medicine for safer and more effective disease management. The Drug
Controller General of India (DCGI) has granted approval for this medication.
Key Market Players
- 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.
|
By Drug Class
|
By Indication
|
By Infection Type
|
By Route of Administration
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By End User
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By Distribution Channel
|
By Region
|
|
- Azoles
- Echinocandins
- Polyenes
- Allylamines
- Others
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- Candidiasis
- Aspergillosis
- Mucormycosis
- Dermatophytosis
- Others
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- Superficial Fungal Infection
- Systemic Fungal Infection
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- Topical
- Oral
- Parenteral
- Others
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- Homecare Hospitals
- Clinics
- Others
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- Retail Pharmacy
- Hospital Pharmacy
- Online Pharmacy
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Scope:
In this report, the Global Anti-Fungal Drugs Market has been segmented
into the following categories, in addition to the industry trends which have
also been detailed below:
- Anti-Fungal Drugs Market, By Drug Class:
o
Azoles
o
Echinocandins
o
Polyenes
o
Allylamines
o
Others
- Anti-Fungal Drugs Market, By Indication:
o
Candidiasis
o
Aspergillosis
o
Mucormycosis
o
Dermatophytosis
o
Others
- Anti-Fungal Drugs Market, By Infection Type:
o
Superficial Fungal Infection
o
Systemic Fungal Infection
- Anti-Fungal Drugs Market, By Route of Administration:
o
Topical
o
Oral
o
Parenteral
o
Others
- Anti-Fungal Drugs Market, By End User:
o
Homecare Hospitals
o
Clinics
o
Others
- Anti-Fungal Drugs Market, By Distribution Channel:
o
Retail Pharmacy
o
Hospital Pharmacy
o
Online Pharmacy
- Anti-Fungal Drugs Market, By End User:
o
Topical
o
Oral
o
Parenteral
o
Others
- Anti-Fungal Drugs Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
§ Egypt
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in the Global Anti-Fungal Drugs Market.
Available Customizations:
Global Anti-Fungal Drugs market report with the given market
data, Tech Sci Research offers customizations according to a company's specific
needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Global Anti-Fungal Drugs Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]