Antifungal Drugs Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMPH2829 | Last Updated On: Jul 18 2022 | Available Formats

> Global Antifungal Drugs Market Expected to reach a high CAGR of 3.29% during the forecast period 2022-2029: DataM Intelligence

Global Antifungal Drugs Market is segmented By Drug Type (Echinocandins, Azoles (Imidazoles, Voricanazole, Thiazoles, Others), Polyenes (Amphotericin B, Candicidin, Hamycin, Natamycin, Others), Allylamines (Butenafine, Terbinafine, Naftifine, Others)), By Infection Type (Superficial Antifungal Infections, Systemic Antifungal Infections), By Indications (Aspergillosis, Dermatophytosis, Candidiasis, Other), By Dosage Forms (Powders, Ointments, Drugs, Pastes), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Antifungal Drugs Market" is estimated to reach at a high CAGR of 3.29% during the forecast period (2022-2029).  

Antifungals are the drugs that treat fungal infections by acting on the synthesis of the fungal cell membrane, cell wall components, membrane permeability, and synthesis of nucleic acids and the mitotic spindle function of the fungi during cell division. While most fungal infections affect areas such as the skin and nails, some can lead to more serious and potentially life-threatening conditions like meningitis or pneumonia.

 

Market Dynamics

The global antifungal drugs market growth is driven by the growing prevalence of fungal infections such as aspergillosis and candidiasis is one of the key factors driving the market. Moreover, mounting cases of patients suffering from hospital-acquired or nosocomial infections and infectious diseases are poised to stoke the growth of the market during the forecast period.

Rising knowledge about fungal infections and the increasing instances of such infections is expected to drive the growth in the forecast period

The rising knowledge about fungal infections and the increasing instances of such infections on account of aggravating unhygienic environment in populated cities of the world. Systemic candidiasis, for instance, is the most prevalent systemic fungal infection expected to drive growth in the forecast period. The availability of different antifungal drugs in the market to treat them and the soaring popularity of over-the-counter antifungal drugs for dermal infections have also positively impacted the market. Antifungal drugs aid in deterring fungal cell wall development and disrupt their cell membrane and proliferation of cells. The market for antifungal therapies include powders, drugs, pastes, and ointments. Azoles antifungal drugs hold a dominant share in the market on account of rising awareness about them.

Other factors providing tailwinds to the market are favorable government initiatives and corporate funds to boost the industry. Growing healthcare budgets in developing economies are also aiding the market. A recent trend noted by analysts is technological progress in diagnostic tests and devices for more accurate treatment, which further contributes toward market growth.

The ongoing public-private partnership agreements in the pharmaceutical industry are expected to drive the market growth

The ongoing public-private partnership agreements in the pharmaceutical industry for the development of novel therapeutics are projected to offer tremendous growth opportunities to the market. For instance, CARB-X, an international public-private partnership, is anticipated to provide around USD 350 million in the coming five years to boost the R & D pipeline. Partners involved are the U.S. Department of Health and Human Services, Antimicrobial Resistance Centre in England, and Boston University School of Law.

A considerably large range of antifungal preparations, both topical and oral agents such as creams, sprays, tablets, and injections, are commercially available in the market. The rising popularity of over-the-counter antifungal drugs for dermal infections is further escalating market growth.

High investment costs in R&D is likely to hinder the market growth

However, swift uptake of antifungal drugs is their expensiveness and side effects such as allergies. The diminishing efficacy of the drugs in the face of increasing resistance developed by fungi is hampering its market growth.

COVID-19 Impact Analysis

The coronavirus, which affects the respiratory system, also causes other fungal infections in persons with a weak immunity system. Several trials are going on to develop a vaccine or drug to treat this novel coronavirus disease. Few scientists are researching antifungal drugs to eradicate the other infections caused by COVID 19. Patients with coronavirus are at high risk of developing several fungal diseases. Several individuals have already been diagnosed with these infections in China earlier. COVID-19 has shown a positive impact on the antifungal drugs market.

Segment Analysis

The superficial Antifungal Infections segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)

Superficial antifungal infections or mycoses are common treatable conditions seen in everyday clinical practice, although they may also present differently in immunosuppressed patients. Dermatophyte or ringworm infections, superficial candidiasis of the mouth, skin or genital tract and infections due to Malassezia, such as pityriasis Versicolor, are the main conditions. Although the present with typical clinical changes, generally diagnosis is enhanced by direct microscopy or culture of suitable samples.

Because superficial fungal infections are highly common, likely, the primary care physician will frequently treat affected patients. The estimated lifetime risk of acquiring dermatophytosis is between 10 and 20 per cent. The majority of superficial fungal infections are tineas and, of those, the most common are tinea pedis, tinea corporis, and tinea cruris.

Dermatophytosis is expected to dominate the antifungal drugs market during the forecast period

Dermatophytosis is anticipated to hold a sizeable share in the market during the forecast period due to the rising incidence of skin infections in children. In the recent decade, the incidence of this infection has considerably increased due to an unhealthy lifestyle. This has raised concerns for immunocompromised patients, who are susceptible to extensive lesions and atypical manifestations due to fungi.

Moreover, candidiasis, which is the most commonly occurring systemic fungal infection, is expected to exhibit the fastest growth rate over the forecast period. It is a yeast infection caused by the genus Candida. Its treatment has evolved. Some of the changes include appropriate usage of echinocandins and broad-spectrum azoles for the treatment of candidemia, mucosal candidiasis, and invasive candidiasis. The increasing number of patients, who are more susceptible to fungal infections, is a key driver for the segment. In addition, growing awareness among patients and healthcare professionals is poised to spur the growth of the antifungal drugs market.

Geographical Analysis

North America region holds the largest market share global antifungal drugs market

The growth of the region can be attributed to the increasing incidence of infectious diseases. The rise in prevalence has raised clinical urgency to increase the usage of these drugs and has boosted the development of innovative drugs with fast-track approvals by the FDA. In addition, the presence of established pharmaceutical companies, which are consistently striving for extensive commercialization of their drugs and enhancing their geographical reach, is anticipated to be a key factor escalating the growth of the market.

 

Competitive Landscape

The antifungal drugs market is moderately competitive with the presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Gilead Sciences, Inc., Pfizer Inc., Sanofi S.A., Merck & Co., Inc., Novartis International AG, Abbott Laboratories, Bayer AG, Scynexis Inc., Enzon Pharmaceuticals, Inc., and GlaxoSmithKline Plc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the antifungal drugs market globally.    

Antifungal Drugs Market Key Companies to Watch

Sanofi S.A

Overview: Sanofi is a healthcare company, focused on patient needs and engaged in the research, development, manufacture and marketing of therapeutic solutions. Its segments are Pharmaceuticals, Human Vaccines (Vaccines), and Others. The Pharmaceuticals segment comprises the commercial operations of various franchises, including Specialty Care (Rare Diseases, Multiple Sclerosis, and Oncology), Diabetes and Cardiovascular, Established Prescription Products, Consumer Healthcare and Generics, and research and development, production and marketing activities for all of the Company's pharmaceuticals operations.

Product Portfolio: The Company’s portfolio is comprised of drugs, generic medicines, food supplements, cosmetics, and medical devices such as cancer, cardiology, gynecology, and diabetes.

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