Antifungal Drugs Market is Expected Size to Reach USD 13.39 Billion in 2028 - Reports and Data

The global antifungal drugs market is expected to reach USD 13.39 Billion in 2028 and register a revenue CAGR of 1.4% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth include increasing prevalence of skin and fungal infections among all age groups, high demand for antifungal drugs in developing countries, and high geriatric population prone to fungal infections.

Over the recent years, there has been rapid increase in the prevalence of fungal infections across the globe owing to factors such as low immunity, constantly changing climatic conditions, and unhygienic lifestyles. Most fungal infections are non-lethal but can cause inconvenience to people suffering from them. Various antifungal drugs are used to prevent and treat different fungal infections such as athlete's foot, candidiasis, ringworm, and jock itch. These drugs are either prescribed or are available over-the-counter in hospitals or retail pharmacies.

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One of the key factors fueling global market revenue growth is the rising prevalence of mucormycosis in patients suffering from coronavirus. Other factors such as improving healthcare infrastructure, rising disposable income, growing healthcare spending, favorable government schemes, and increasing investments in R&D activities are expected to fuel market growth.

However, factors such as increasing number of drug/product recalls, growing resistance against many antifungal drugs, and adverse effects of certain antifungal drugs such as itching, redness, nausea, diarrhea, or nephrotoxicity are expected to hamper overall market growth to a certain extent over the forecast period.

Some key highlights of the report:

Based on route of administration, the oral segment is expected to register steady revenue CAGR between 2021 and 2028. This can be attributed to increasing prevalence of fungal infections and diseases, availability of many broad-spectrum antifungal oral drugs, high preference for tablets due to easy administration and quick absorption, and increasing production of new formulation drugs.

Based on distribution channel, the hospital pharmacies segment is expected to account for significant revenue share over the forecast period. This can be attributed to factors such as increasing patient visits to hospitals, availability of advanced antifungal creams and lotions in hospital pharmacies, improving healthcare infrastructure, and growing demand for prescription as well as over-the-counter drugs.

The European market is expected to account for steady revenue growth during the forecast period owing to factors such as high prevalence of skin infections and fungal diseases, increasing healthcare spending, presence of well-developed healthcare facilities, and availability of advanced treatments for fungal infections. Other factors such as increasing investments in research and development activities, high focus on developing more effective drugs for fungal diseases and infections, and presence of leading key players are expected to fuel market growth during the forecast period.

The market in Asia Pacific is expected to register a revenue CAGR of 1.9% over the forecast period owing to increasing prevalence of fungal infections, rising awareness about fungal diseases, growing R&D investments, rising healthcare spending, and improving healthcare infrastructure. Other factors such as favorable government initiatives, rising per capita income, and increasing demand for advanced skincare treatments are also expected to play an important role in growth of the Asia Pacific market.

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, and product & service portfolio. The Antifungal Drugs market is extremely competitive and consists of several key players at the regional and global levels. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures, and collaborations to strengthen their market position and enhance their product portfolio.

Leading companies operating in the market are:

Abbott Laboratories, Pfizer, Inc.
Novartis AG, Merck & Co., Inc.
Sanofi-Aventis
Bayer AG
Enzon Pharmaceuticals, Inc.
GlaxoSmithKline Plc
Astellas Pharma, Inc.
Gilead Sciences, Inc.
Leadiant Biosciences, Inc.
Sigma-Aldrich
Glenmark Pharmaceuticals
Sun Pharmaceutical Industries Ltd.
Mylan N.V
Maan Medex Private Ltd.
Lifevision Healthcare
Medico Remedies Limited

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Antifungal Drugs Market Segmentation:

Drug Class Outlook:
Azoles
Voriconazole
Posaconazole
Clotrimazole
Isavuconazole
Others
Echinocandins
Caspofungin
Micafungin
Others
Polyenes
Amphotericin B
Candicidin
Hamycin
Natamycin
Others
Allylamines
Terbinafine
Others
Others

Indication Outlook:
Candidiasis
Invasive Candidiasis
Vulvovaginal Candidiasis (VVC)
Mouth/Throat/Esophageal Candidiasis
Others
Dermatophytosis
Aspergillosis
Others

Distribution Channel Outlook:
Hospitals Pharmacies
Specialty Clinics
Retail Pharmacies
Online Pharmacies

Regional Outlook:
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

Some essential purposes of the Antifungal Drugs market research report:

Vital Developments: Custom investigation provides critical improvements to the Antifungal Drugs market, including R&D, new item shipment, coordinated efforts, development rate, partnerships, joint efforts, and local development of rivals working in the market on a global scale and regional.

Market Characteristics: The report contains Antifungal Drugs market highlights, income, limit, limit utilization rate, value, net, creation rate, generation, utilization, import, trade, supply, demand, cost, part of the industry in general, CAGR, and gross margin. Likewise, the market report offers an exhaustive investigation of the elements and their most recent patterns, along with Service market fragments and subsections.

Investigative Tools: This market report incorporates the accurately considered and evaluated information of the major established players and their extension into the Antifungal Drugs market by methods. Systematic tools and methodologies, for example, Porter's Five Powers Investigation, Possibilities Study, and numerous other statistical investigation methods have been used to analyze the development of the key players working in the Antifungal Drugs market.

Convincingly, the Antifungal Drugs report will give you an unmistakable perspective on every single market reality without the need to allude to some other research report or source of information. This report will provide all of you with the realities about the past, present, and eventual fate of the Antifungal Drugs market.

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