Global Antifungal Drugs Market is Expected to Reach at a CAGR of 1.91% from 2019 to 2026
Fior Markets launched a study titled Antifungal Drugs Market by Drug Class (Azoles, Echinocandins, Polyenes, Allyamines, Others), Indication, Dosage Form, Regions”, and Global Forecast 2019-2026.
The global antifungal drugs market is expected to grow from USD 11.92 Billion in 2018 to USD 13.87 Billion by 2026, at a CAGR of 1.91% during the forecast period 2019-2026. Growing incidences of patients suffering from hospital-acquired or nosocomial infections and infectious diseases are expected to drive the market growth over the forecast period.
The Azoles segment had a market value of USD 5.83 billion in 2018
The drug class segment is divided into Azoles, Echinocandins, Polyenes, Allyamines and others. The Azoles drug segment dominated the global antifungal drugs market with USD 5.83 billion revenue in 2018. This increased market share can be credited to the broad-spectrum action delivered by Azoles. These drugs are of immense use in the treatment of candidemia, blastomycosis, systemic candidiasis, and ocular fungal infections.
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The Candidiasis segment is anticipated to grow at a CAGR of 3.98% in 2019-2026
The indication segment includes Dermatophytosis, Aspergillosis, Candidiasis, and others. The Candidiasis segment is projected to grow at the fastest CAGR of 3.98% over the forecast period. Growing incidence of thrush or oropharyngeal candidiasis that develops in the mouth or throat is anticipated to drive the global antifungal drugs market over the forecast period.
The ointment segment had a market value of USD 5.11 billion in 2018
The dosage form segment is categorized as drugs, ointment, powder, and others. The ointment segment emerged as the leader in global antifungal drugs market with USD 5.11 billion revenue in 2018. Growing use of topical antifungal in the treatment of skin related fungal infections is projected to propel the market growth over the forecast period.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Increasing incidence of infectious disease in addition to presence of established pharmaceutical companies, and well-developed healthcare sector led the North America region to dominate the global antifungal drugs market with USD 4.76 billion revenue in 2018. However, the Asia Pacific region is expected to grow at the highest CAGR of 4.02% over the forecast period.
Even though the factors such as increasing incidence of fungal infections as well as increase in awareness pertaining the treatment of fungal diseases are driving the global antifungal drugs market, the increasing resistance to antifungal drugs and stringent regulatory approval process are expected to restrain the market growth over the forecast period.
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Major players in the global antifungal drugs market are Abbott, Pfizer, Inc., Novartis AG, Merck & Co., Inc., Sanofi-Aventis, Bayer AG, Enzon Pharmaceuticals, Inc., GlaxoSmithKline Plc, Astellas Pharma, Inc., Sigma-Aldrich Agilent Technologies, Inc., Beckman Coulter, Inc., Sato Pharmaceutical Co., Ltd., Kramer Laboratories, Basilea Pharmaceutical Ltd., Eisai Co., Ltd, Valeant Pharmaceuticals International, Inc., and Tecan Group among others. On back of huge investments the antifungal drugs sector is witnessing an increased research and development activity. For instance, in 2017, researchers from the University of Liverpool working with F2G Limited (Eccles, Manchester) announced that they have developed a new antifungal drug to help in the treatment of life threatening invasive fungal infections such as invasive aspergillosis. The ‘orotomides’, discovered by F2G Limited, have a novel mechanism of action which is the specific biochemical interaction through which a drug substance produces its pharmacological effect. This is the first new class of antifungal agent to be discovered in the last three decades.
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- CDN Newswire