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. 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 RD 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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