Antifungal Drugs Market Size & Growth Analysis to 2030

The global antifungal drugs market size is accounted to grow at a significant CAGR of over 3% during the forecast period 2021 to 2027. The rising prevalence of fungal infection around the world is a primary factor to drive market growth. Furthermore, the increasing awareness among people and the growing number of OTC antifungal drugs are further anticipated to boost the market growth over the forecast period. Moreover, the increasing focus of the manufacturer to develop advanced formulation drugs and the increasing use of nanotechnology in formulation for better clinical outcomes is expected to drive market growth.

Market Drivers:

Increasing Prevalence of Fungal Infections: The growing incidence of fungal infections, both superficial and systemic, is a major driving factor for the antifungal drugs market. Fungal infections can affect various body parts, including the skin, nails, respiratory tract, and bloodstream. Factors such as the aging population, the rise in immunocompromised individuals (due to diseases like HIV/AIDS and cancer), invasive medical procedures, and the widespread use of broad-spectrum antibiotics contribute to the increased incidence of fungal infections.

Rising Awareness and Diagnostic Capabilities: Increased awareness among healthcare professionals and patients about fungal infections has led to improved diagnosis and detection of these conditions. Advanced diagnostic techniques and improved laboratory methods enable accurate identification of fungal pathogens and guide appropriate antifungal treatment. The availability of effective antifungal drugs is essential to address the diagnosed fungal infections, driving the demand for antifungal medications.

Advancements in Antifungal Drug Development: Significant advancements in antifungal drug development have expanded the treatment options available in the market. Newer antifungal drugs with improved efficacy, broader spectrum of activity, and reduced side effects are being introduced. Additionally, combination therapies and novel drug delivery systems are being explored to enhance treatment outcomes. These advancements drive the demand for newer and more effective antifungal drugs.

Increase in High-Risk Populations: Certain populations are at a higher risk of developing fungal infections. This includes individuals with compromised immune systems, such as transplant recipients, cancer patients undergoing chemotherapy, and those with autoimmune diseases. The rise in these high-risk populations contributes to the increased demand for antifungal drugs to prevent and treat fungal infections in vulnerable patients.

Growing Number of Invasive Procedures: Invasive medical procedures, such as organ transplants, chemotherapy, and invasive surgeries, carry an increased risk of fungal infections. These procedures often require immunosuppressive medications or disrupt the natural barriers of the body, making patients more susceptible to fungal pathogens. The need for prophylactic and therapeutic antifungal treatments in conjunction with these procedures drives the demand for antifungal drugs.

Emergence of Antifungal Drug Resistance: The emergence of antifungal drug resistance poses a significant challenge in the management of fungal infections. As some fungal species develop resistance to commonly used antifungal drugs, there is a need for new treatment options to combat resistant strains. The demand for alternative antifungal drugs with different mechanisms of action and efficacy against resistant fungi drives research and development efforts in the antifungal drugs market.

Increasing Fungal Infections in Immune-compromised Patients: Immune-compromised patients, such as those with HIV/AIDS or undergoing immunosuppressive therapy, are highly susceptible to opportunistic fungal infections. The growing number of immune-compromised individuals globally, along with the prolonged survival of HIV/AIDS patients due to improved treatment, contributes to the demand for antifungal drugs to prevent and treat these infections.

Growing Awareness about Personal Hygiene: Awareness about personal hygiene and preventive measures to reduce the risk of fungal infections has been increasing. Proper hygiene practices, such as maintaining clean and dry skin, using antifungal powders or creams, and avoiding the sharing of personal items, can help prevent the occurrence of fungal infections. The emphasis on personal hygiene indirectly drives the demand for antifungal drugs as a treatment option.

Favorable Regulatory Environment: Regulatory bodies play a crucial role in ensuring the safety, efficacy, and quality of antifungal drugs. Favorable regulatory frameworks that facilitate the timely approval and commercialization of new antifungal drugs encourage pharmaceutical companies to invest in research and development activities.

Market Snapshot:

Market Insights:

The global antifungal drugs market is bifurcated into drug type, indication, form, and geography. On the basis of drug type, the market is further segmented into azoles, polyenes, allylamines, echinocandins, and others. The azoles segment dominated the global market in 2020 and accounted to hold the largest revenue share of over one-third percent of the market by the end of the analysis period. The widespread use of the drug to treat yeast infection, candidemia, and ocular fungal infection is a major factor to drives the segment growth. Furthermore, the drug is also used to treat systemic fungal infection, which is further expected to fuel the segment growth.

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The antifungal drugs comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The antifungal drugs market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Drug Type:

• Azoles
• Polyenes
• Allylamines
• Echinocandins
• Others

By Indication:

• Aspergillosis
• Dermatophytosis
• Candidiasis
• Others

By Form:

• Powder
• Ointments
• Tablets
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, North America dominated the global antifungal drugs market in 2020 and is estimated to hold the largest revenue share of over one-third percent of the market by the end of the analysis period. The increasing prevalence of fungal infection has resulted in an increase in demand for these drugs which is a major factor to drive the market growth in the region. Furthermore, the increasing awareness and the growing adoption of advanced treatment are further anticipated to boost the market growth in North America. On the flip side, the Asia Pacific is expected to register the highest growth rate over the forecast period.

Competitive Assessment

Some of the major market players operating in the global antifungal drugs market are Astellas Pharma, Inc., Merck & Co., Inc., Abbott Laboratories, Bayer AG, and Glenmark. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Astellas Pharma, Inc.
• Merck & Co., Inc.
• Abbott Laboratories
• Bayer AG
• Glenmark
• GlaxoSmithKline PLC
• Novartis AG
• Pfizer Inc.
• Sanofi-Aventis
• Enzon Pharmaceuticals, Inc.

Key Questions Answered by Antifungal Drugs Market Report

• Global antifungal drugs market forecasts from 2021-2027
• Regional antifungal drugs market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Antifungal drugs submarket forecasts from 2021-2027 covering the market by drug type, by indication, by form, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about antifungal drugs market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level antifungal drugs markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the antifungal drugs market