Synchronous Condenser Market to hit US$ 580.28 Million, Globally, by 2027 at 2.6% CAGR: The Insight Partners

According to our latest study on "Systemic Aspergillosis and Systemic Candidiasis Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Type and Application," the market is expected to reach US$ 580.28 Million by 2027 from US$ 507.64 Million in 2019; it is estimated to grow at a CAGR of 2.6% from 2020 to 2027. The report provides trends prevailing in the global systemic aspergillosis and systemic candidiasis market, and the drivers and hindrances pertaining to the market growth.

The increase in the prevalence of fungal infections and complications associated with their treatment are encouraging players to invest in R&D activities. This, in turn, is propelling the formation of new antifungal drugs for better outcomes, which is likely to impact the market positively. The antifungal drugs currently used for fungal treatment include voriconazole, liposomal, amphotericin b, systemic oral azoles, and topical, and antifungal agents. These drugs are highly recommended; however, there is a certain limitation in terms of treatment of systematic aspergillosis and systemic candidiasis. Thus, newly formulated drugs are required for a serious fungal infection, which is likely to create an opportunity for the market. Furthermore, the high rate of mortality and morbidity of candida infection is also an opportunity for the systemic aspergillosis and systemic candidiasis market.

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Based on type, the systemic aspergillosis and systemic candidiasis market are segmented into voriconazole, liposomal amphotericin b, systemic oral azoles, topical antifungal agents, and others. In 2019, the systemic oral azoles segment held the largest share of the market. The same segment is expected to grow at the fastest rate during the forecast period owing to the rising number of invasive fungal infections. Oral azole drugs, such as fluconazole, and itraconazole, have a major advantage in systemic antifungal therapy. Among all three, fluconazole has the most attractive pharmacologic (pharmacokinetics and pharmacodynamic) profile, including the capacity to produce high concentrations of active drugs in cerebrospinal fluid and urine.

Candida Auris is a fungus that causes a serious global health threat. It causes severe illness in hospitalized patients in several countries, including the US. Patients can remain colonized with C. Auris for a long time. Also, C. Auris can persist on surfaces in healthcare environments. This can result in the spread of C. Auris among patients in healthcare facilities. According to a CDC report of 2021, US cases of C. Auris have been found in patients who had recent stays in healthcare facilities in Egypt, India, Kenya, Kuwait, Pakistan, South Africa, South Korea, the UAE, and Venezuela, which also have documented cases. Thus, this can be a hospital-acquired infection. The emergence of Candida Auris is considered as one of the most serious problems associated with nosocomial transmission and infection control practices in the hospital environment.

Additionally, the CDC stated that 560 cases of C. Auris infections were reported in the US as of January 31, 2019. Furthermore, despite the execution of countermeasures to limit fungal infections in intensive care units (ICUs), cases continue to be observed and reported, with a tendency toward an endemic pattern. This shows the ability of C. Auris to persistent infection in the clinical environment, enabling its transmission within the critical care setting. Unlike other Candida species, C. Auris can colonize different anatomical sites (e.g., skin, axilla, and stool) and contaminate the hospital equipment and surfaces, creating a vicious cycle of spreading, acquisition, and infection, particularly in ICUs.

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In 2019, North America led the global synchronous condenser market with more than 37.4% of revenue share, followed by Europe and Asia Pacific regions, respectively. Currently, synchronous condenser adoption has increased in the US and Canada through industries such as electrical utilities and grid operators, metals and mining, marine and oil and gas. Furthermore, growing investment in the adoption of renewable energy by government bodies and private companies in the process is fueling the growth of the region's industry. In 2019, for example, US investments in renewable energy accounted for US$ 301.7 billion. Growing investment is therefore enabling companies to deliver advanced solutions around the local and global sectors of power generation.

Most of the engines used in industries are induction engines in which currents would be drawn by loads such as lamps, fans, heaters, etc. Due to large reactive components, these lagging currents would decrease the power factor of the entire unit. The overall performance of the device would therefore decrease. Using a synchronous motor in parallel with induction motors or transformers, the leading reactive volt-amperes supplied by the synchronous motor may be corrected by compensating for the lagging reactive volt-amperes of other power equipment. In this way, to increase the overall power factor of the device, a synchronous condenser is useful.

The List of Companies - Synchronous Condenser Market

Novartis Ag; Sanofi-Aventis; Pfizer, Inc.; Merck And Co., Inc.; Enzon Pharmaceuticals, Inc.; Bayer Ag; Astellas Pharma, Inc.; Glaxosmithkline Plc; Abbott; and Cipla are among the leading companies operating in the systemic aspergillosis and systemic candidiasis market.  

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

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