The global antifungal drugs market was valued at US$ 14.02 Billion in 2020 and is expected to reach US$ 21.78 Billion by 2030, growing at a CAGR of 4.5% from 2021 – 2030.
Fungal infections pose a global threat to the entire human existence. Antifungal drugs are the drugs that treat fungal infections. The drugs can be taken orally, applied topically, or taken intravenously through an IV drip. Antifungal drugs kill the fungal cells or stop them from developing & multiplying. These drugs target the fungal cell wall & the fungal membrane without providing any damage to human cells. This condition is adopted because of an unhygienic environment and unhealthy lifestyle in which the microorganisms such as fungus reside. Fungi multiply by spreading microscopic pores which either infect the skin or are inhaled leading to fungal infections. Skin, eye, vagina, and mouth are the most infected areas. The infection ranges from mild to severe and even results in death in rare cases. Market players are adopting several techniques such as collaborations, partnerships, and product development to provide better service. For Example, Posaconazole, launched by Cadila Pharmaceuticals is a new triazole antifungal drug that is very effective against a wide range of invasive fungal diseases.
Also, FDA-approved drugs such as Brexafemme, Cancidas, Eraxis, Kerydin, Lotrisone, Mentax, Luzu, Sporanox, Noxafil, and Lamisil are boosting the market growth vigorously.
Increase in the knowledge regarding infections, a hike in the number of fungal infections globally, an upsurge in awareness regarding healthcare, an increase in the demand of and increased investments in the healthcare sector are driving the market growth of the global antifungal drugs market. Also, increased government support coupled with initiatives taken by non-government organizations is boosting the market growth. However, high costs attributed to the drugs, side effects, presence of counterfeit drugs, resistance towards the antifungal drugs are hampering the market growth. However, extensive R&D, a growing healthcare budget, several initiatives, and funding by the various public and corporate sectors are providing lucrative opportunities to the global antifungal drugs market.
The global antifungal drugs market is fragmented into Drug type, Infection type, Therapeutic infections, Dosage forms, and Region. By Drug Type, the scope of the report offers echinocandins, azoles, polyenes, allylamines, and other drugs. Infection Type is classified into Superficial Antifungal Infections & Systemic Antifungal Infections. The Therapeutic infection segment is sub-segmented into Aspergillosis, Dermatophytosis, Candidiasis, and others. Dosage forms segment is bifurcated into Powders, Ointments, Drugs, and Pastes.
Based on Region, the global antifungal drugs market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America is further classified into the U.S., Canada, and Mexico. Europe is further segmented into Germany, the U.K., France, Italy, Spain, Russia, and the rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, South Korea, and the rest of APAC. The RoW includes South & Central America, the Middle East, and Africa. Currently, North America dominates the global market among all the geographies owing to the hike in fungal infections and active market players in the region.
The prominent players of the global antifungal drug market are Merck & Co., Inc., Pfizer Inc., Gilead Sciences, Inc., Sanofi S.A., Novartis International AG, Abbott Laboratories, Bayer AG, Scynexis Inc., Enzon Pharmaceuticals, Inc., GlaxoSmithKline Plc., Astellas Pharma, Inc., Agilent Technologies, Inc., Sigma-Aldrich Corporation, and Beckman Coulter, Inc., among others.
Market Segmentation and Scope of the Global Antifungal Drug Market
By Drug Type
By Infection Type
By Therapeutic Indications
By Dosage Forms