Antifungal Agents Market Depth Analysis and Industry Forecast, 2022-2027

In the coming years, the worldwide antifungal agents market is projected to grow at a promising pace owing to the rising incidence of nosocomial infections. Fungi are microorganisms that are capable of causing various infections in humans, spanning from superficial skin to systematic that enter the body through inhalation. Lower immune systems and exposure to unhygienic conditions are root causes for the occurrence of infections in human bodies. Primarily, the market is driven by a rise in people suffering from fungal infections on hair, skin, and lungs.

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In the wake of the pandemic, the world witnessed disruptions in supply chains. To overcome this supply chain turmoil, governments have taken diverse initiatives. Besides, growing research and development activities coupled with a pipeline of new drugs are set to expand the antifungal agents market exponentially. Going forward, the market growth is further augmented by the greater use of antimicrobial drugs in developing economies, rising awareness of several fungal infections, and a growing number of over-the-counter antiretroviral (OTC) drugs.

Azoles Gains Supremacy Over the Other Types of Antifungal Agents

Over the recent past, the antifungal agents market has been witnessing an upward trend. Based on the type of drug, the market is fragmented as azoles, polyenes, allylamines, and echinocandins. Among these types, considering the capability to generate higher revenue and fungicidal properties, the azoles are envisaged to reign supreme across the types of antifungal agents. Synthetic azoles and semi-synthetic compounds are extensively used to treat infections along with fungal infections, thereby upscaling the market. Additionally, several therapeutic drugs viz Cresemba, Diflucan, Noxafil, and Vfend of azoles drug class are projected to contribute significantly towards the antifungal agents market valuation. Azoles' ability to work on a broader range of fungal infections with improved safety levels has gained it excellent prominence and increased its sales.

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North America is Growing Leaps and Bounds at the Helm of Soaring R&D Activities and Presence of Well-Established Players

North America successfully dominates the antifungal agents market by garnering a lion's share over the forecast timeline. A sophisticated approval process framework, surging research and development activities, and the growing prevalence of staunch players are building the momentum for regional market growth. In the coming years, the usage of these antifungal agents is anticipated to rise in the developed countries of North America. Based on analysis, the U.S. and Canada are expected to steer the market at the helm of increasing sales of antifungal agents due to escalating rates of fungal infections.

The higher susceptibility of the country's population to chronic diseases affects the immune system, thus, causing fungal infections. The consistent incidence and mortality closely related to fungal infections - increased the demand for antifungal agents in the region, and created lucrative opportunities for pharmacists to develop effective novel and anti-fungal novels.

Key Players are Progressively Developing Advanced & Effective Products to Enhance their Market Positions

Competitive players across the global antifungal agents market include Abbott Laboratories, Glenmark, Bayer AG, Merck & Co. Inc., Novartis, and Pfizer, GlaxoSmithKline. The major players are progressively increasing their research and development activities to develop next-gen antifungal agents that can efficiently fight fungal infections. For instance: In 2021, Scynexis came up with a new antifungal drug to treat vaginal yeast infections, Brexafemme, which got approved by the US FDA (Food and Drug Administration).

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