Rising incidence of fungal infections around the globe, growing investment in research and development activities, and increasing cases of hospital-acquired infections are key factors fueling global market growth.
Rising incidence of fungal infections around the globe, growing investment in research and development activities, and increasing cases of hospital-acquired infections 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 awareness about the importance of hygiene, rising demand for over-the-counter drugs, high risks of acquiring black fungus by COVID-19 patients, and growing per capita income.
Fungal infections are a major burden of skin diseases worldwide. Prevalence of these infections has been rising over the years due to adoption of unhealthy lifestyles, low immunity, constant climate change, and increasing prevalence of various infectious diseases. Athlete’s foot, jock itch, fungal nail and toe infections, and ringworm are some examples of common fungal infections. Various antifungal creams, shampoos, gels, injections, and lotions are prescribed by medical practitioners or are available over-the-counter to treat these fungal infections. Rapid technological advancements and initiatives taken by government agencies have resulted in increasing awareness about hygiene and fungal infections among people. Various major players are also focusing on developing safe and more effective antifungal drugs.
However, side effects of some antifungal drugs, such as burning sensation, abdominal pain, rash, nausea, and long-term effects such as hepatotoxicity, gynecomastia, and hypokalemia are factors that can restrain market revenue growth. Availability of counterfeit drugs and stringent government regulations could also hamper market revenue growth during the forecast period. In addition, increasing cases of drug resistance against several antifungal medicines are factors can hamper growth of the global antifungal drugs market growth.
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Some Key Highlights of the Report:
- Among drug class, the allylamines segment is expected to register steady revenue growth during the forecast period owing to rising prevalence of dermatological diseases, nail and toe infections, ringworms, increasing awareness about these diseases among public, and growing focus on developing more effective allylamine drugs.
- Based on distribution channel, the retail pharmacies segment is expected to register highest revenue CAGR over the forecast period, owing to high prevalence of skin infections, increasing demand for over-the-counter drugs, easy availability of antifungal tablets and creams in retail pharmacies, and rising number of pharmacies across the globe.
- The North American market is expected to account for largest revenue share in the global market between 2021 and 2028, owing to high prevalence of fungal infections, increasing awareness about hygiene, presence of well-developed healthcare infrastructure and treatment facilities in the region, and increasing focus on developing enhanced antifungal drugs, creams, and lotions. In addition, growing numbers of drug approvals, availability of advanced treatment, and increased funding by various public and private organizations are expected to fuel market growth in North America.
- Market revenue in Asia-Pacific is expected to expand at a CAGR of 1.9% over the forecast period owing to increasing prevalence of fungal infections and diseases, rising risk of acquiring fungal infections due to high usage of immunosuppressive agents and prosthetic devices, and ongoing research on developing cost-effective and more efficient antifungal drugs. Other factors such as improving healthcare infrastructure and treatment facilities, increasing geriatric population, and rising awareness about fungal infections and their treatment are expected to fuel market growth in the Asia-Pacific region.
- 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 profiled in the global antifungal drugs market report.
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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
- UK
- 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.
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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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