Mucormycosis Market 2019 Analysis - Research Covers Top 10 Players as Abbott Laboratories, Biocon Limited, Cadila Pharmaceuticals Limited, Novartis AG, F. Hoffman La Roche
Mucormycosis (zygomycosis) is a serious but rare fungal infection caused by a group of molds called mucormycetes. Moreover, inhaling fungal spores from the air can affect the lungs and sinuses, the fungus also invades the skin through wounds such as cut, scrape, burn, or other type of skin trauma. There are approximately 1.5 million different species of fungi on the earth, however, only around 300 are responsible for causing diseases and infections in humans. Fungal infection may affect anyone, but they are most common in people with weakened immune systems and can occur in nearly any part of the body. Risk factors for developing mucormycosis include uncontrolled diabetes, cancer, organ transplant, neutropenia, skin trauma such as cuts, scrapes, punctures, or burns.
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These infections need to be treated with prescribed antifungal medication, usually amphotericin B, posaconazole or isavuconazole. Amphotericin B, posaconazole, and isavuconazole are medications given intravenously. Furthermore, posaconazole and isavuconazole can also be administered orally. Often, mucormycosis requires surgery to remove the infected tissue.
The prognosis of mucormycosis is usually poor. It depends on various factors such as the overall health of the patient and ability to respond to treatments, the speed of diagnosis, and treatment provided. For instance, the mortality rate with rhinocerebral and GI mucormycosis is about 85% while the mortality rate for patients with other types of mucormycosis is about 50%. Patients who survive this infection often end up having disabilities such as blindness, limb loss, organ dysfunctions among others.
The market growth is mainly driven by increasing prevalence of fungal infections, availability of wide range of products, and rising incident of immunological diseases. Moreover, increasing awareness about fungal infection and increasing government support for research & development have fuelled the market growth. However, side effects of the treatment and presence of misbranded and spurious drugs may slow the growth of the market. There are a number of medicines available in the market for the treatment of fungal infections such as oral and intravenous medicines, creams, sprays, shampoos, solutions, and pessaries.
Rising incidence of immunological diseases and availability of a wide range of products has driven the growth of the global mucormycosis market. Furthermore, rising geriatric population, increasing government support, and increasing healthcare expenditure have fueled the growth of the market. However, side effects of the drugs and presence of misbranded drugs may hinder the growth of the market.
The global market for mucormycosis is expected to grow at a CAGR of approximately 7.3% during the forecast period, 2017-2023.
The Global Mucormycosis Market key players are Abbott Laboratories (U.S.), Biocon Limited (India), Cadila Pharmaceuticals Limited (India), Novartis AG (Switerzland), F. Hoffman La Roche (Switerzland), Merck Sharp and Dohme (U.S.), Mylan Labs (U.S.), Bristol Myers Squibb (U.S.), Bayer AG (Germany), Lonza Group (Switerzland), Sanofi (France), Johnson & Johnson (U.S.), Pfizer Inc. (U.S.), Gilead Sciences (U.S.), and others
The mucormycosis is segmented on the basis of species, diagnosis, treatment, and end-users.
On the basis of the species, the market is segmented into Rhizopus, Rhizomucor, Cunninghamella, Apophysomyces, Saksenaea, Lichtheimia (formerly Absidia), and Mucor, and others
On the basis of the diagnosis, the market is segmented into Computed Tomography (CT), Magnetic resonance imaging (MRI), tissue biopsy, and others.
On the basis of the treatment, the market is segmented into surgery, antifungal drugs, amphotericin B therapy, and others. The antifungal drugs is further categorized into posaconazole, isavuconazole, voriconazole, fluconazole, and flucytosine, and others.
On the basis of the end-user, the market is segmented into hospitals & clinics, medical institutes, research organization, and others.
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The Global Mucormycosis Market consists of countries namely the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas dominate the global mucormycosis market owing to a well-developed healthcare sector and huge patient population for mucormycosis. Many antifungal drugs have lost their patients during the last few years such as Terbinafine products like Lamisil lost their patient in 2017. As there is limited oral preparation in the market, development and licensing of new drugs in the market is the huge opportunity for the development of the market during the forecasted period.
Europe is the second largest market for the global mucormycosis owing to the advancements in the technology of the surgical devices along with the rising occurrence of fungal infections among the patients. The European government introduced incentives to help simplify the improvement of anti-infective drugs and dropping the risk and cost of manufacturers. Some other factors driving the market include the growing percentage of diabetes mellitus population mainly in the developed countries of Europe. The average diabetes prevalence rate in Europe is 8.6% of the adult population.
Asia Pacific is the fastest growing region for antifungal treatment due to increasing prevalence of HIV, and huge untapped growth opportunities for the development of the market. Every year, approximately 7.1% of the Korean population receives treatment for fungal diseases. Therefore, further research is needed to understand and monitor the prevalence of mycoses to establish management policies to reduce the burden of fungal diseases.
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