The global antifungal drugs market size was USD 13.81 Billion in 2021 and is expected to register a revenue CAGR of 3.6% during the forecast period, according to latest analysis by Emergen Research.
The global antifungal drugs market size was USD 13.81 Billion in 2021 and is expected to register a revenue CAGR of 3.6% during the forecast period, according to latest analysis by Emergen Research. The rising prevalence of fungal infections is the key factor driving the market growth. In addition, the availability of new treatments and the increasing government initiatives to create awareness about fungal infections are expected to fuel market growth over the forecast period.
The growing prevalence of fungal infections, rising number of hospital-acquired infections, and increasing research and development activities are the major factors driving the growth of the antifungal drugs market. In addition, the growing geriatric population and the increasing prevalence of immunocompromised patients are also fueling the market growth. However, the availability of alternative treatments and adverse effects associated with antifungal drugs are restraining the market growth.
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Majority of life-threating fungal infections occur in immunocompromised individuals and patients with chronic diseases. In such patients, prophylactic use of antifungal drugs is one of the important strategies for preventing fungal infections. According to a report by CDC (Centers for Disease Control and Prevention), there were approximately 1.5 million new cases of fungal infections in the U.S. in 2014. Among these, candidemia (a type of bloodstream infection caused by yeast) accounted for nearly 22% of the total cases. Moreover, the mortality rate associated with fungal infections is also high, as these infections are difficult to treat due to their resistance to antifungal drugs. As per a report by CDC, the mortality rate associated with candidemia was nearly 42% in 2014.
Some Key Highlights From the Report
- The azoles segment accounted for the largest market share in 2020 and is expected to grow at a significant CAGR during the forecast period. The azoles include drugs such as ketoconazole, fluconazole, itraconazole, and voriconazole. These drugs are effective in treating various fungal infections such as candidiasis, cryptococcosis, and dermatophytoses.
- The hospitals segment accounted for the largest market share in 2020 and is expected to grow at a significant CAGR during the forecast period. This growth can be attributed to the increasing number of patient admissions for fungal infections in hospital settings. In addition, the availability of sophisticated facilities and skilled healthcare professionals in hospitals is expected to fuel market growth over the forecast period.
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- The dermatophytosis segment accounted for largest revenue share in 2021 due to rising awareness about these drugs among people, and easy availability of these drugs. According to the National Institute of Health’s National Library of Medicine, in 2017, around 3% of the world’s population was affected by skin fungal infections. Moreover, rising number of product launches by key players is projected to support growth of this segment over the forecast period. For instance, in November 2020, Merck & Co., Inc. launched an antifungal cream called Jublia (efinaconazole), for the treatment of toenail fungus.
- The North America region accounted for the largest market share in 2020 and is expected to grow at a significant CAGR during the forecast period. The rising prevalence of fungal infections, the availability of new treatments, and the increasing government initiatives to create awareness about fungal infections are some of the key factors driving market growth in this region.
- Some major companies in the global market report include GSK Group of Companies, Novartis AG, Pfizer Inc., Bayer AG, Merck & Co., Inc., Abbott, Astellas Pharma Inc., Enzon Pharmaceuticals, Inc., Glenmark Pharmaceutical Inc., and Leadiant Biosciences, Inc.
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Emergen Research has segmented the global antifungal drugs market based on drug type, indication analysis, route of administration, distribution channel, and region:
- Drug Type Outlook (Revenue, USD Billion; 2019-2030)
- Azoles
- Polyenes
- Echinocandins
- Allylamines
- Indication Analysis Outlook (Revenue, USD Billion; 2019-2030)
- Dermatophytosis
- Candidiasis
- Aspergillosis
- Others
- Route of Administration Outlook (Revenue, USD Billion; 2019-2030)
- Topical
- Oral
- Parenteral
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Online pharmacies
- Retail pharmacies & drug stores
- Hospital pharmacies
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- 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
- Turkey
- Rest of Middle East & Africa
- North America
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