Antifungal Drugs Market: Increasing Incidence of Cancers, HIV, and Hospital-Acquired Infections
According to The Insight Partners market research study titled ‘Antifungal Drugs Market to 2027 – Global Analysis and Forecasts by Infection Type, Drug Type, Therapeutic Indication, Dosage Form and Geography. The global Antifungal Drugs market is expected to reach US$ 13,524.2 Mn in 2027 from US$ 10,182.3 Mn in 2018. The market is estimated to grow with a CAGR of 3.2% from 2019-2027. The report highlights the trends prevalent in the global Antifungal Drugs market and the factors driving the market along with those that act as challenges to its growth.
Asia Pacific is the fastest growing geographic market and it is expected to be the fastest revenue contributor throughout the forecast period. Asia Pacific is recognized as a developing market for the pharmaceutical. The growth is driven by that countries such as China, and India which are engaged in conducting several studies.
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Key finding from the Antifungal Drugs Market
- The global Antifungal Drugs market by infection type segments was led by superficial fungal infection. In 2018, the superficial fungal infection segment held a largest market share of 62.1% of the Antifungal Drugs market, by infection type. Also, the superficial fungal infection segment is expected to be the fastest growing segments of the market in 2027 owing to change in the environmental condition across the globe which is expected to become the major factor for the growth of the Antifungal Drugs market.
- Organic and inorganic growth strategies were observed in global Antifungal Drugs industry. The organic strategies which were conducted more compared to the inorganic strategies for the Antifungal Drugs. For instance, in November, 2017, Merck & Co., Inc. declared that the U.S. Food and Drug Administration (FDA) approved PREVYMIS (letermovir) to be uses as once-daily tablets for oral use and injection for intravenous infusion. Thus, the organic strategy has enabled the company to grow its business in the market.
- The major players operating in the Antifungal Drugs market include, Pfizer Inc., Sanofi S.A., Gilead Sciences, Inc., Merck And Co., Inc., Scynexis Inc., Novartis International AG, Abbott Laboratories, Bayer AG, Glenmark Pharmaceutical, and Glaxosmithkline Plc. The market has carried out various organic and inorganic growth strategies in the market which has assisted in strengthening their product offering in the market.
The market for Antifungal Drugs is expected to grow significantly due to factors such as rising incidences for the fungal infection of the skin, nails and hair, increasing incidences of cancers, HIV, and hospital-acquired infections and favorable government initiatives to combat the antifungal diseases are likely to drive the growth of the Antifungal Drugs market. However, lack of awareness regarding the fungal infections may restrict the growth of Antifungal Drugs market.
Increasing Incidence of Cancers, HIV, and Hospital-Acquired Infections
The incidence of fungal infections due to numerous diseases has increased over the last few decades. Furthermore, bloodstream infection incidence is bimodal, with adult people and premature babies having the maximum risk. Cancer treatment using chemotherapy and radiation causes various changes in the body as they destruct cancer cells. Among the significant difference, one is that this treatment weakens the immune system that increases the chances of getting a fungal infection.
Many fungal infections are called opportunistic infections, as they generally affect people with weak immune systems. As HIV weakens the immune system, it is more prone to have some types of fungal infections, like coccidioidomycosis, histoplasmosis, cryptococcosis, and pneumocystis pneumonia (PCP).
According to data published by J. Fungi 2017, approximately 3,000,000 cases of chronic pulmonary aspergillosis, around 223,100 cases of cryptococcal meningitis among HIV/AIDs patients. And nearly 700,000 cases of invasive candidiasis, about 250,000 cases of invasive aspergillosis, approximately 100,000 cases of disseminated histoplasmosis, more than 10,000,000 cases of fungal asthma, and around 1,000,000 cases of fungal keratitis occur per annum.
According to World Health Organization (WHO), between 2015 and 2020, the pharma sales growth predictions scored higher in developing countries as compared in developed countries, with BRIC-MT (Mexico and Turkey) countries positioning first with a 9.3% growth in sales.
Global Antifungal Drugs Market – By Infection Type
- Superficial Fungal Infection
- Systemic Fungal Infection
Global Antifungal Drugs Market – By Drug Type
Global Antifungal Drugs Market – By Therapeutic Indication
Global Antifungal Drugs Market – By Dosage Form
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