Market Summary
The Global Antifungal Drugs market was valued at USD 15.3 billion in 2021 and it is predicted to reach USD 20.5 billion by 2030, rising at a compound annual growth rate (CAGR) of 3.7 % from 2022 to 2030.
Mycosis such as athlete’s foot, ringworm, candidiasis, serious systemic infections such as cryptococcal meningitis, and others. Infections of the skin, eye, mouth, and vaginal canal are all examples of fungal infections. It is impossible to prevent the spread of infectious fungi in the environment. Fungal infections can have two forms: systemic and superficial. Serious fungal infections are more likely in people with compromised immune systems.
The rise in fungal and nosocomial diseases is driving the worldwide antifungal market. In addition, the antifungal medications market is predicted to grow because of an increase in governmental and private sector initiatives to raise awareness about a variety of fungal illnesses. COVID-19 has resulted in a significant increase in demand for medical supplies such as oxygen cylinders, protective equipment, and oximeters. But due to the Supply chain disruption and strict social distance restrictions have harmed the antifungal drug industry.
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SEGMENT OUTLOOK:
By Type:
In 2021, azoles segment dominated the market. Yeast infection, candidiasis, tinea versicolor, athlete’s foot, jock itch, ringworm, nail fungus, fungal infections, and seborrheic dermatitis are all treated with azole antifungals. They operate by slowing down and stopping fungal growth. In 2021, the Echinocandins accounted for the second-largest revenue share. To treat invasive candidiasis in critically unwell and neutropenic individuals Echinocandins are primarily used. it is also used for empiric antifungal therapy in neutropenic fever sufferers.
By Indication Type:
In 2021, the dermatophytosis category dominated the market and the Candidiasis segment accounted for the second-largest revenue share. Due to unhealthy lifestyle and long working hours Fungi flourishes. In the warm, wet settings, fungal skin infections are common. The feet, groyne, and skin folds are only a few examples.
By Dosage Type:
In 2021, the topical dominated the market. The growing use of topical creams by dermatologist to cure fungal infections is propelling the formulation more advanced antifungal creams. In 2021, the oral accounted for the second-largest revenue share. The increasing awareness about the benefits of oral medications along with need for faster treatment is driving the market.
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By Regional Outlook:
In 2021 North America dominated the market. Availability research and development and infrastructure facilities in the healthcare has enabled the continent to monopolies the world markets. Higher adoption of new technology drives the demand. The increased awareness along with rising number of suffers is driving the demand. The government policies have also paved the way for increased demand. In 2021, Asia Pacific is expected to grow at the fastest CAGR during the projection period. Rising awareness along with income of the people in the region is pushing the market. The increasing spending by the governments in the R&D along with the demand for safe and quick treatments for fungal infections is acting as a catalyst for the market. The increasing concerned about the fungal infections and its ill effects is the major factor contributing for the growth of the market.
By Key Competitors and Market Share Analysis:
As a result, leading firms are focused on maintaining long-term operations and developing research, development, and distribution capabilities to increase their market position. The competition among the players is based on numerous parameters including innovation, product offerings, price, and corporate reputation.
The following are some of the major market players operating across the globe:
- Hologic Inc
- Koninklijke Philips N.V.
- Quest Diagnostics Incorporated
- Siemens Medical Solutions USA Inc.
- bioMérieux SA
- Abbott
- BD
- Cardinal Health, Inc.
- F. Hoffmann-La Roche Ltd
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Segments Covered in the Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2030. For the purpose of this report, Data Lab Forecast has segmented the global Antifungal Drugs Market report on the basis of Type, Indication Type, Dosage Type, and region:
The report segment of the global Antifungal Drugs market is as follows:
Global Antifungal Drugs Market: By Type Outlook (Revenue, USD Million, 2021 – 2030)
- Echinocandins
- Azoles
- Polyenes
- Allylamines
- Others
Global Antifungal Drugs Market: By Indication Type Outlook (Revenue, USD Million, 2021 – 2030)
- Aspergillosis
- Dermatophytosis
- Candidiasis
- Others
Global Antifungal Drugs Market: By Dosage Type Outlook (Revenue, USD Million, 2021 – 2030)
- Oral
- Topical
- Others
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