The global antifungal treatment market is continually ascending on the growth scale. Significant factors contributing to the growth of the market include the increasing awareness about the myriad fungal infections and increasing government & corporate initiatives to control the symptoms of the conditions. Moreover, the introduction of breakthrough medicines that have distinctly changed the approach to antifungal therapy, sometimes even allowing oral treatment of chronic mycoses, is accelerating the market growth.
According to Market
Research Future (MRFFR), the global antifungal treatment
market is booming and expected to garner a valuation of USD 19,558.0 MN
by 2023. In its recent antifungal treatment market analysis, MRFR also asserts
that the market would register a CAGR of 4.61 % over the assessment period
(2017 – 2023). Increased risk in wear artificial nails, alongside the people
with a weakened immune system and increasing occurrences of weakened immune
systems, foster the antifungal treatment industry.
Increasing prevalence of
various fungal infections alongside the rise in the number of immune-compromised
aged population and population that come in contact with resistant fungal
strains and infections drive the market growth, significantly. On the other
hand, skepticism towards the efficacy of antifungal medicines among patients or
practitioners is a major growth impeding factor for the market. Also,
government regulations for pharmaceutical production and allergic reaction to
some types of antifungal drugs obstruct market growth.
Mainly, people with a
weakened immune system are vulnerable to invasive fungal infections. People who
are at high risk of acquiring fungal infections include HIV & AIDS patients
and cancer patients who are undergoing high-dose chemotherapy and taking
medicines to suppress the immune system, such as corticosteroids. Also, people
having an organ transplant take immunosuppressant, which make them vulnerable
to fungal infections.
Global Antifungal Treatment
Market - Segments
MRFR has segmented the
market into five main dynamics to widen the scope of understanding,
By Drugs Class
: Azoles, Echinocandins, Pyrimidines, Polyenes, Allylamines, and
others.
By Therapeutic Indication
: Systemic, Coccidioidomycosis, Candidiasis, Cryptococcosis,
Prophylactic, and others.
By Pathogen
: Candida, Cryptococcus, Aspergillus, Coccidioides Immitis,
Trichophyton, Zygomycetes, and others.
By End-users
: Hospitals & Clinics, Dermatology Clinics, and others.
By Regions
: Europe, Americas, Asia Pacific, Middle East & Africa,
and Rest-of-the-World
Global Antifungal Treatment
Market - Regional Analysis
North America leads the new antifungal drugs. In
2016, the market accounted for a significant share, reaching a valuation of USD
5,539.4 MN. This market growth attributes to the increasing prevalence of
immunological diseases and high healthcare expenditures in the region. Over the
forecast period, the North American antifungal treatment is expected to grow at
a substantial CAGR, creating a considerable revenue pocket.
Europe stands second in
terms of the global antifungal treatment market size. The flourishing
antifungal treatment device market is significantly impacting the market growth
in the region. Driven by the availability of advanced treatment facilities,
skilled medical professionals, and the adoption of new therapies, the European
antifungal treatment market growth is projected to rise significantly during
the forecast period.
The Asia pacific antifungal
treatment market is emerging as a rapidly growing market, globally. The increasing
prevalence of HIV is the key factor driving the growth of the antifungal
treatment market in the APAC. Besides, the rising awareness about the
antifungal conditions and the availability of new treatment methods foster the
growth of the market. China is the fastest-growing market, which is estimated
to register 5.24% CAGR during the forecasted period. Also, the Indian
antifungal treatment market shows major growth opportunities with its large
unmet needs.
Global Antifungal Treatment
Market - Competitive Analysis
Characterized by the
presence of several notable players, the global antifungal treatment market
appears to be highly competitive. To gain a considerable market share, these
players incorporate strategic initiatives such as mergers & acquisitions,
collaborations, expansion, and treatment/ technology launch. The high growth
potential demonstrated by the market attracts several new entrants, which in
turn intensifies the competition in the market.
Top players invest
substantially in R&D and clinical trials to develop effective medicines and
treatments. Presently, a growing number of companies are working on the
development of new antifungal medication. Drug manufacturing companies are
collaborating with hospitals to provide better solutions. Increasing the
adoption of new drugs, therapies, and treatment options are strengthening the
potential growth of this market.
Major Players:
Players leading the global
antifungal treatment market include Pfizer Inc. (US), Novartis AG
(Switzerland), Sanofi (France), Astellas (Japan), Merck & Co., Inc. (US),
and Bayer AG (Germany), among others.
Industry/Innovation/Related
News:
November 21, 2019 --- Appili
Therapeutics Inc.(Canada), a publicly-traded biopharmaceutical company focused
on anti-infective drug development, announced signing an agreement with
FUJIFILM Toyama Chemical Co., Ltd. (Japan) to acquire and develop the novel
antifungal drug - T-2307. FUJIFILM Toyama is engaged in the research,
development, manufacture, and sale of small molecule pharmaceuticals. This drug
candidate - T-2307 is a novel broad-spectrum antifungal agent that has been
evaluated in multiple preclinical studies and three human Phase I clinical
trials.
September 04, 2019 --- Cidara
Therapeutics, Inc. (the US), a clinical-stage biotechnology company and
Mundipharma GmbH (Germany), a leading pharmaceutical company, announced their
strategic partnership to develop and commercialize rezafungin, a medicine
useful for the treatment and prevention of invasive fungal infections. The
collaboration combines strengths to develop and commercialize life-saving
antifungal treatment and prophylaxis, an area of high unmet medical need.
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