Increasing preference for over-the-counter drugs, rising cases of mucormycosis in COVID-19 patients, and increasing investments for developing more effective antifungal drugs are key factors fueling global market growth.
Increasing preference for over-the-counter drugs, rising cases of mucormycosis in COVID-19 patients, and increasing investments for developing more effective antifungal drugs are key factors fueling global market growth
The global antifungal drugs market is expected to reach USD 13.39 Billion in 2028 and register a revenue CAGR of 1.4% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth include increasing prevalence of skin and fungal infections among all age groups, high demand for antifungal drugs in developing countries, and high geriatric population prone to fungal infections.
Over the recent years, there has been rapid increase in the prevalence of fungal infections across the globe owing to factors such as low immunity, constantly changing climatic conditions, and unhygienic lifestyles. Most fungal infections are non-lethal but can cause inconvenience to people suffering from them. Various antifungal drugs are used to prevent and treat different fungal infections such as athlete’s foot, candidiasis, ringworm, and jock itch. These drugs are either prescribed or are available over-the-counter in hospitals or retail pharmacies.
One of the key factors fueling global market revenue growth is the rising prevalence of mucormycosis in patients suffering from coronavirus. Other factors such as improving healthcare infrastructure, rising disposable income, growing healthcare spending, favorable government schemes, and increasing investments in R&D activities are expected to fuel market growth.
However, factors such as increasing number of drug/product recalls, growing resistance against many antifungal drugs, and adverse effects of certain antifungal drugs such as itching, redness, nausea, diarrhea, or nephrotoxicity are expected to hamper overall market growth to a certain extent over the forecast period.
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Some key highlights of the report:
- Based on route of administration, the oral segment is expected to register steady revenue CAGR between 2021 and 2028. This can be attributed to increasing prevalence of fungal infections and diseases, availability of many broad-spectrum antifungal oral drugs, high preference for tablets due to easy administration and quick absorption, and increasing production of new formulation drugs.
- Based on distribution channel, the hospital pharmacies segment is expected to account for significant revenue share over the forecast period. This can be attributed to factors such as increasing patient visits to hospitals, availability of advanced antifungal creams and lotions in hospital pharmacies, improving healthcare infrastructure, and growing demand for prescription as well as over-the-counter drugs.
- The European market is expected to account for steady revenue growth during the forecast period owing to factors such as high prevalence of skin infections and fungal diseases, increasing healthcare spending, presence of well-developed healthcare facilities, and availability of advanced treatments for fungal infections. Other factors such as increasing investments in research and development activities, high focus on developing more effective drugs for fungal diseases and infections, and presence of leading key players are expected to fuel market growth during the forecast period.
- The market in Asia Pacific is expected to register a revenue CAGR of 1.9% over the forecast period owing to increasing prevalence of fungal infections, rising awareness about fungal diseases, growing R&D investments, rising healthcare spending, and improving healthcare infrastructure. Other factors such as favorable government initiatives, rising per capita income, and increasing demand for advanced skincare treatments are also expected to play an important role in growth of the Asia Pacific market.
- Abbott Laboratories, Pfizer, Inc., Novartis AG, Merck & Co., Inc., Sanofi-Aventis, Bayer AG, Enzon Pharmaceuticals, Inc.; GlaxoSmithKline Plc; Astellas Pharma, Inc., Gilead Sciences, Inc., Leadiant Biosciences, Inc., Sigma-Aldrich, Glenmark Pharmaceuticals, Sun Pharmaceutical Industries Ltd., Mylan N.V, Maan Medex Private Ltd., Lifevision Healthcare, and Medico Remedies Limited are some key companies operating in the global antifungal drugs market.
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For this report, Reports and Data has segmented the global antifungal drugs market on the basis of drug class, route of administration, indication, distribution channel, and region:
Drug Class Outlook (Revenue, USD Billion, 2018-2028)
- Azoles
- Voriconazole
- Posaconazole
- Clotrimazole
- Isavuconazole
- Others
- Echinocandins
- Caspofungin
- Micafungin
- Others
- Polyenes
- Amphotericin B
- Candicidin
- Hamycin
- Natamycin
- Others
- Allylamines
- Terbinafine
- Others
- Others
Route of Administration Outlook (Revenue, USD Billion, 2018-2028)
- Oral
- Topical
- Parenteral
Indication Outlook (Revenue, USD Billion, 2018-2028)
- Candidiasis
- Invasive Candidiasis
- Vulvovaginal Candidiasis (VVC)
- Mouth/Throat/Esophageal Candidiasis
- Others
- Dermatophytosis
- Aspergillosis
- Others
Distribution Channel Outlook (Revenue, USD Billion, 2018-2028)
- Hospitals Pharmacies
- Specialty Clinics
- Retail Pharmacies
- Online Pharmacies
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Regional Outlook (Revenue, USD Billion, 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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