VANCOUVER, BC, Jan. 4, 2023 /PRNewswire/ -- The antifungal drugs market size reached USD 13.81 Billion in 2021 and is expected to register a CAGR of 3.6% during the forecast period, according to latest analysis by Emergen Research. Growing prevalence of various fungal skin infections coupled with rising awareness about fungal diseases is a few of the key factors driving the revenue growth of market. Moreover, rising Research & Development (R&D) projects for novel drugs as well as rapid adoption of nanotechnology for advanced formulation of medications are also major factors significantly contributing to the growth of market.
Various fungal diseases, which affect the skin, eyes, hair, and lungs, such as ringworm, toenail fungus, athlete's foot, and rhinosinusitis, are caused by exposure to unclean surroundings and by weakened immune systems. Every year, fungal pathogens cause at least 13 million illnesses and 1.5 million deaths worldwide, mostly in those with weakened immune systems.
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According to the Centers for Disease Control and Prevention (CDC), approximately 7,199 deaths from fungal diseases occurred in 2021. Demand for antifungal treatments is also significantly influenced by the accessibility of over-the-counter pharmaceuticals as well as ease of administration via oral pills, topical creams, ointments, and IV drips. Increasing collaboration among major companies is contributing to the growth of market. On 16 May 2022, F2G, a portfolio company of Novo Holdings, and Shionogi form a strategic partnership to promote the company's novel antifungal drug Olorofim across Europe and Asia.
A brand-new oral antifungal medication called Olorofim was developed by F2G to treat invasive aspergillosis (IA) and other uncommon mold diseases. Olorofim exerts fungicidal activity by inhibiting the pyrimidine synthesis pathway, a unique mode of action that sets it apart from all other families of antifungals.
As the global immunocompromised population rises mainly owing to an increase in HIV infections and in part because of the effective management of major underlying illnesses, invasive fungal infections continue to emerge in record numbers. Those with cancer, HIV/AIDS, organ transplants, chronic respiratory diseases, and post-primary TB infection are among the populations most at risk for invasive fungal infections. Such factors are expected to boost the growth of the market.
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Drivers:
Growing prevalence of fungal infections and increasing number of product launches are a few of the key factors boosting the revenue growth of market. Global warming, surge in international travel, and increased commerce are all contributing to a rise in both the prevalence and geographic range of fungal illnesses. The reported prevalence of invasive fungal infections among hospitalized patients increased considerably during the COVID-19 pandemic. Risks for the emergence of more invasive types of diseases in the general population are rising along with the resistance of the fungi that cause common illnesses (such candida oral and vaginal thrush) to treatment.
On 25 2022, World Health Organization (WHO) released a study outlining the first-ever list of 19 fungi that pose the highest risk to public health, or "priority pathogens," in the form of fungus. The WHO Fungal Priority Pathogens List (FPPL) is the first global attempt to systematically prioritize fungal pathogens, considering the unmet needs for research and development (R&D) and the relevance that is associated with public health. To boost the international response to fungi infections and antifungal resistance, the WHO FPPL seeks to direct and motivate more research and policy measures.
Restraints:
Antifungal resistance develops when antifungal medications fail to inhibit the spread of a fungal infection. Individuals with weakened immune systems are especially vulnerable. Antifungals do not work on superbugs like Candida auris, limiting therapy choices. Various antifungal drug adverse effects such as allergic reactions, liver damage, itchy skin, and diarrhea, among others, as well as rising antifungal treatment resistance, are expected to constrain growth of market.
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Growth Projections:
The antifungal drugs market is expected to register a CAGR of 3.6% over the forecast period and revenue is projected to increase from USD 13.81 Billion in 2021 to USD 18.89 Billion in 2030. Rising awareness about fungal infections is expected to support revenue growth of the market.
Current Trends and Innovations:
Increasing incidence of Invasive Fungal Infection (IFI), high levels of associated mortality, limitations in existing agents (such as toxicity, drug-drug interactions, and resistance), and the need for agents against difficult-to-treat infections such as Scedosporium and Fusarium are some of the primary factors leading to improvement of new antifungal drugs. The development of novel formulations for antifungal medications, as well as interest in nanoparticles as new forms of antifungal drug carriers, is boosting the revenue growth of the market. Traditional antifungals' efficacy and pharmacokinetic characteristics are being enhanced by making alterations to their chemical structures.
Strategic Initiatives:
Major companies included in the market report are GSK Group of Companies, Novartis AG, Pfizer Inc., Bayer AG, Merck & Co., Inc., Abbott, Astellas Pharma Inc., Enzon Pharmaceuticals, Inc., Glenmark Pharmaceutical Inc., and Leadiant Biosciences, Inc.
- On 12 October 2021, Intas Pharmaceuticals Limited announced the launch of Itaspor-SB Forte/Subawin, a novel antifungal medicine containing Super Bioavailable Itraconazole-SB 100mg. The medicine is predicted to significantly lower the cost of fungal infection therapy, as well as enhance patient compliance and minimize the Doctor's counseling time.
Scope of Research
Report Details | Outcome |
Market Size in 2021 | USD 13.81 Billion |
CAGR (2022-2030) | 3.6 % |
Revenue Forecast to 2030 | USD 18.89 Billion |
Base Year for Estimation | 2021 |
Historical Data | 2019-2020 |
Forecast Period | 2022-2030 |
Quantitative Units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments Covered | Drug type, indication analysis, route of administration, distribution channel, and region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Country Scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
Key Companies Profiled | GSK Group of Companies, Novartis AG, Pfizer Inc., Bayer AG, Merck & Co., Inc., Abbott, Astellas Pharma Inc., Enzon Pharmaceuticals, Inc., Glenmark Pharmaceutical Inc., and Leadiant Biosciences, Inc. |
Customization Scope | 10 hours of free customization and expert consultation |
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Emergen Research has segmented antifungal drugs market on the basis of drug type, indication analysis, route of administration, distribution channel, and region:
- Drug Type Outlook (Revenue, USD Billion; 2019-2030)
- Azoles
- Polyenes
- Echinocandins
- Allylamines
- Indication Analysis Outlook (Reveue, USD Billion; 2019-2030)
- Dermatophytosis
- Candidiasis
- Aspergillosis
- Others
- Route of Administration Outlook (Revenue, USD Billion; 2019-2030)
- Topical
- Oral
- Parenteral
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Online pharmacies
- Retail pharmacies & drug stores
- Hospital pharmacies
- Regional Outlook (Revenue, USD Billion, 2019 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- UAE
- Saudi Arabia
- Africa
- Rest of Middle East
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