The new report by Expert Market Reseach titled, ‘Global Antifungal Drugs Market Size, Share, Growth, Analysis, Report and Forecast 2023-2031’, gives an in-depth analysis of the global antifungal drugs market, assessing the market based on its segments like drug class, indication, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2031)
- Historical Market Size (2022): USD 14.8 billion
- Forecast CAGR (2023-2031): 3.7%
- Forecast Market Size (2031): USD 20.6 billion
The growth of the global market for antifungal drugs is being driven by the increasing prevalence of fungal disease across countries. The market is further aided by the factors such as rising awareness about various fungal infections such as ringworm, candidiasis, and systematic mycosis, among others, increasing the number of antifungal drugs available over-the-counter (OTC), and the growing use of anti-fungal drugs in developing countries. Additionally, the increasing investments for research and development (R&D) activities and pipelines of new drugs by key pharmaceutical companies for developing novel and more effectives antifungal drugs is anticipated to bolster the market growth over the forecast period.
Antifungal Drugs Market Segmentation
Antifungal drugs also known as antimycotic medication are pharmaceutical fungicide that helps to eliminate the fungal infection from body with minimum side effects.
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Based on drug class, the market is segmented into:
- Isavuconazole (CRESEMBA)
- Micafungin (Mycamine/ Funguard)
- Amphotericin (AmBisome)
On the basis of indication, the industry is divided into:
- Invasive Candidiasis
- Vulvovaginal Candidiasis (VVC)
- Mouth/Throat/Esophageal Candidiasis
The regional markets for antifungal drugs include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Antifungal Drugs Market Trends
Regionally, North America is anticipated to hold a significant share in the global market for antifungal drugs. This can be attributed to rising hygiene awareness, increasing prevalence of patients suffering from fungal infections, and growing adoption of advanced therapeutics. Meanwhile, Europe is expected to follow North America owing to growing healthcare infrastructure, rising healthcare expenditure, and others. Over the forecast period, Asia Pacific is expected to grow at the fastest rate. This can be attributed to the increasing government expenditure in health sector and increasing number of pharmaceutical manufacturers in countries such as India and China.
Key Market Players
The major players in the market are Abbott Laboratories, GlaxoSmithKline PLC, Novartis AG, Pfizer Inc., and a few others.
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