Press release
Antifungals Market Size, Share Analysis, Growth, Trends And Global Forecast 2023-2032
Antifungals Market Report
The Business Research Company's Antifungals Global Market Report 2023 identifies the increasing incidence of fungal infections as the major driver for the antifungals market's growth in the forecast period. Diseases such as SARS, Zika virus, Ebola and COVID-19 have increasingly led to infections in various parts of the world, leading to an increase in the global disease burden. According to the World Health Organization (WHO), in 2022, over the course of the COVID-19 pandemic, the number of fungal infections increased markedly amongst hospitalized patients.
The global antifungals market size will grow from $31.12 billion in 2022 to $35.19 billion in 2023 at a compound annual growth rate (CAGR) of 13.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market share of the global antifungals is expected to grow to $54.88 billion in 2027 at a CAGR of 11.8%.
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Major competitors in the antifungals market are Pfizer, Novartis, Merck & Co., Bayer Healthcare and Abbott Laboratories, Sanofi-Aventis, Kramer Laboratories, GlaxoSmithKline Gilead, Enzon Pharmaceuticals Inc., and Basilea Pharmaceuticals AG.
A key trend in the antifungals market includes skimming prices for branded drugs. The discovery, development, and manufacturing processes of branded drugs generally require high investments. As a result, companies in the market offer branded drugs at the highest initial prices and implement other pricing strategies to ensure the product stays competitive at a high price. Price skimming is a pricing strategy in which a company charges a high initial price and then gradually lowers the price to attract more price-sensitive customers. It is used to maximize profits when a new product is introduced in the market. Manufacturers and marketers of branded drugs should consider adopting the price skimming strategy for branded drugs. They should price these branded drugs high to recover the high costs incurred during drug development and manufacturing.
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The antifungals market is segmented -
•By Drug Type: Echinocandins, Azoles, Polyenes, Allylamines
•End users: Hospitals & Clinics, Dermatology clinics, Other Users
•By Route of Administration: Oral, Parenteral, Topical
•By Therapeutic Indications: Aspergillosis, Dermatophytosis, Candidiasis, Other Therapeutic Indications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the antifungals market.
The Business Research Company's "Global Antifungals Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Antifungals Market Include:
1. Executive Summary
2. Antifungals Market Characteristics
3. Antifungals Market Trends And Strategies
4. Antifungals Market - Macro Economic Scenario
5. Antifungals Market Size And Growth
……
26. Africa Antifungals Market
27. Antifungals Market Competitive Landscape And Company Profiles
29. Key Mergers And Acquisitions In The Antifungals Market
30. Antifungals Market Future Outlook and Potential Analysis
31. Appendix
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