Antifungal Drugs Market | Global Market Opportunities & Strategies to 2025
Posted by Shristi on October 3rd, 2019
“The Global Antifungal Drugs Market growing at a significant CAGR over the seven years of forecast years 2019-2025 to reach US$ 18,643.8 Mn by 2025 owing to grow in prevalence of fungal diseases among the population”
The global antifungal drugs market was valued at US$ XX Mn in 2018 and increasing at a significant growth rate over the forecast years due to increase in the prevalence of fungal diseases such as aspergillosis, candidiasis, dermatophytosis and others. For instance, according to Center for Diseases Control and Prevention, approximately 1 Mn affected with cryptococcal meningitis, a brain infection caused by fungus around the globe. Moreover, surge in incidence of hospital acquired infection, increase in the R&D expenditure for the development of newer antifungal drugs, unhygienic environments in underdeveloped countries, and rise in healthcare expenditure are propel the global antifungal drugs market over the forecast years. However, alternative treatment procedures for the fungal infections, patent expiry of branded drugs, and entry of generics into market are hamper the growth of antifungal drugs market over the forecast timeframe
Global antifungal drugs market segmented on the basis of drug class, disease type, route of administration, distribution channel, and region
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Azoles Dominate the Global Antifungal Drugs Market
Based on the drug class, global antifungal drugs market segmented into azoles, echinocandins, polyenes, allylamines, and others. Among all the drug classes, azoles dominated the global antifungal drugs market in 2018 and the same trend is expected over the forecast years owing to launch of newer therapeutics into the market. For instance, in November 2017, Pfizer partnered with Basilea to launch antifungal drug Cresemba (Isavuconazole) used in the treatment of mucormycosis infection in adults. Moreover, increase in the awareness among the population about antifungal drugs also surge the global antifungal drugs market over the future years.
North America Leads the Global Antifungal Drugs market
PBI’s global antifungal drugs market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2014-2018 and expected to dominate over 2019-2025 owing to surge in the incidence of fungal diseases in U.S. and Canada. For instance, according to CDC, approximately 25,000 people diagnosed with candidemia each year. Moreover, favorable reimbursement policies, increase in the R&D activities for the development of newer therapeutics, and surge in healthcare expenditure are bolster the market over the forecast years. Asia Pacific antifungal drugs market projected to exhibit significant growth due to large patient pool, rapid growth in population in India and China, and launch of generics in the regions.
Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players
Global antifungal drugs market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance. In December 2016, Dr. Reddy’s launched Nystatin and Triamcinolone Acetonide Cream, a generic antifungal product for the treatment of cutaneous candidiasis.
Key player’s profiles in the report are AbbVie, Inc., Merck & Co. Inc., Amgen, Inc., Novartis AG, Sanofi S.A., Eisai Co., Ltd., GlaxoSmithKline plc, Dr. Reddy’s Laboratories, Enzon Pharmaceuticals, Inc., and Basilea Pharmaceuticals, Ltd.,
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Precision Business Insights (PBI) in its report titled “Global Antifungal Drugs Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
By Drug Class
Route of Administration
By Distribution Channel
Middle East and Africa (MEA)
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About the AuthorShristi
Joined: September 17th, 2019
Articles Posted: 60
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