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 29.08 billion by 2030. In its recent antifungal
treatment market analysis, MRFR also asserts that the market would register a
CAGR of 6.35 % over the assessment period. 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 makes 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 is attributed 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:
The global antifungal treatment
market player 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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