Antifungal Drugs Market Size & Trends
The global antifungal drugs market size was valued at $16.6 billion in 2020, and is projected to reach $25.0 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030. Antifungal medication, known as antimycotic medication, is a pharmaceutical fungicides or fungi static used to treat and prevent mycosis such as ringworm, candidiasis and cryptococcal meningitis and others. There are several anti-fungal drugs available to fight fungal infections. Antifungal drugs are very diverse. They are given orally, as a topical treatment, or via IV.
Key Market Dynamics
Growth of the global antifungal market is majorly driven by rise in incidences of fungal and nosocomial infections. In addition, surge in initiatives by public and private organizations to spread awareness about myriad of fungal infections is expected to expand the antifungal drugs market. Moreover, growth in prevalence of fungal infections such as aspergillosis and candidiasis is one of the key factors that propel the growth of the antifungal market. Fungal infections, both systematic and superficial infections include infection of the skin, eye, and mouth. Antifungal drugs with fungicidal activity are mostly used to treat a wide array of diseases, such as fungal meningitis and ringworm caused by fungal agents. Thus, rise in cases of patients suffering from nosocomial infections and infectious diseases drive the antifungal drugs market growth. According to Centers for Disease Control and Prevention, around 46,000 new cases of invasive candidiasis, a prevalent blood stream infection in the U.S. arise each year. In addition, according to article published in the National Center for Biotechnology Information in 2019, it is estimated that approximately 1 million cases of cryptococcosis are reported annually resulting in 625,000 deaths globally. Thus, rise in cases of infectious disease patients increase the growth of the market. Furthermore, upsurge in number of drug approvals provide lucrative opportunities for the expansion of the global anti-fungal drugs market during the forecast period.
Market Segmentation
The antifungal drugs market is segmented into Drug Class, Infection Type, Therapeutic Indications and Dosage Forms. By drug type, it is divided into echinocandins, azoles, polyenes, allylamines, and other drugs. Further, by therapeutic indication, it is classified into aspergillosis, dermatophytosis, candidiasis, and others. By infection type, the market is bifurcated into superficial and systemic antifungals. By dosage form, the market is segmented into oral, topical and others.
Region wise, the antifungal drugs industry is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA(Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Segment Review
Depending on drug class, the azoles segment dominated the market in 2020, and this trend is expected to continue during the forecast period due to increased incidence of invasive fungal infections and rise in number of diabetes cases. Thus, surge in usage of antifungal drugs foster the growth of the antifungal drugs market.
By infection type, systematic antifungal infection segment is dominated the growth of the market, owing to rise in cases of aspergillosis and surge in production of oral or intravenous drugs such as voriconazole can treat the invasive type of aspergillosis. However, the superficial antifungal infection segment is expected to witness considerable growth during the forecast period due to increase in number of candidiasis, a fungal infection which is caused by yeasts.
By therapeutic indication type,candidiasis segment is dominated the growth of the antifungal drugs market, candidiasis is a fungal infection caused by yeasts, which falls under the genus Candidaowing to increase in growth of candida organisms. However, the aspergillosis segment is expected to witness considerable growth during the forecast period due to increase in number of aspergillus molds.
Regional/Country Market Outlook
Region wise, North America garnered the major antifungal drugs market share in 2020, and is expected to continue to dominate during the forecast period owing to rise in number of cases of mucormycosis, presence of key players, development of the healthcare sector, and existence of new anti-fungal drugs in the region. However, Asia-Pacific is expected to register the highest CAGR of 5.2% during antifungal drugs market forecast, owing to surgein prevalence of mucormycosis fungal infection that is caused by chronic disease.
Competitive Landscape
The key players that operate in the global antifungal drugs industry include Pfizer Inc., Sanofi S.A., Gilead Sciences Inc., Merck & Co. Inc, Novartis AG, Abbott Laboratories,., GlaxosmithKlinePlc, AstellasPharma Inc., Johnson & Johnson, and MerzPharma.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the antifungal drugs industry, market segments, current trends, estimations, and dynamics of the antifungal drugs market analysis from 2020 to 2030 to identify the prevailing antifungal drugs market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the antifungal drugs market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global antifungal drugs market trends, key players, market segments, application areas, and market growth strategies.
Antifungal Drugs Market Report Highlights
| Aspects | Details |
 By Drug Class |
|
 By Infection Type |
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 By Therapeutic Indications |
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 By Dosage Forms |
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 By Region |
|
 Key Market Players | Siemens Medical Solutions USA, Inc., Abbott, F. Hoffmann-La Roche Ltd , Hologic, Inc, Koninklijke Philips N.V., Cardinal Health, Inc., bioMérieux SA, BD, Quest Diagnostics Incorporated, General Electric Company |
Analyst Review
In accordance to several interviews conducted, it is stated that since the past few decades, the improved diagnostics and availability of new anti-fungal drugs have revolutionized the field of medical mycology. Moreover, the continuous R&D on vaccines and antibody-based immunotherapy provide a steady growth to the pharmaceutical sector. In addition, high prevalence of fungal infection accelerates the growth of the antifungal drugs market. In this regard, many key players have developed novel antifungal therapeutics that provides relief from varied antifungal infections.
Dermal infections occur in high number and hence with advertisements &endorsements, many pharmaceutical companies promote several OTC drugs in the market to make public aware of the availability of treatments for dermal infections. These drugs are cost-effective and are available in various forms, such as powder, cream, solution, and others. As the topical antifungal drugs such as butenafine, clotrimazole, nitrate, hydrochloride, tolnaftate, and terbinafine are effective in the treatment of fungal skin infections, the coming years are expected to witness an exponential increase in the demand for antifungal medicines. The recent development of novel antifungal agents has significantly contributed to the treatment of fungal diseases successfully. Many antifungal drugs are outdated or of obsolete technology or their patents are expired. However, surgein need for new, highly effective, and superior resistant anti-fungal technologies drives the market growth.
Rise in incidence of fungal and nosocomial infections and increase in R&D investment by market players for launch of antifungal drugs are few major factors driving the growth of the market.
Azoles is the leading segment among drug class of Antifungal Drugs Market
North America is the largest regional market for Antifungal Drugs
In 2020, the estimated industry size of Antifungal Drugs was $16.6 billion
Merck & Co., Inc., Pfizer Inc., GSK are some of the top companies to hold the market share in Antifungal Drugs
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