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Antifungals Market 2024 Analysis By Size, Share, Growth, Trends Up To 2033 | Pfizer Inc., Novartis International AG, Merck & Co. Inc., Bayer AG, Abbott Laboratories, Sanofi S.A
Antifungals Global Market Report 2024
The antifungals market size is expected to see strong growth in the next few years. It will grow to $38.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to emerging fungal strains, regulatory approvals, global health concerns, increased healthcare spending, patient education and awareness. Major trends in the forecast period include research and development, telemedicine and e-health, advancements in antifungal drug development, collaborations and partnerships.
Market Overview -
The antifungal drugs refer to drugs that are used to detect and eliminate fungal pathogens. The fungal pathogens thrive in the body in unhygienic and unclean environments. These drugs are also known as antimycotic medications, used to treat and prevent mycoses such as athlete's foot, ringworm, candidiasis (thrush), and serious systemic infections such as cryptococcal meningitis, and others.
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Rising Prevalence Of Fungal Infections Boosts Antifungals Market
The increasing prevalence of fungal infections is expected to propel the growth of the antifungals market. 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. In addition, according to a 2022 article published in British weekly scientific journal, Nature, there was a spike in invasive Candida infections in patients with COVID-19 in the intensive care units (ICUs) of Wuhan, China. Additionally, during the second wave of the pandemic, India reported more than 47,500 cases of COVID-19 associated mucormycosis between May and August 2021. Hence, the increasing incidence of fungal infections is expected to drive the antifungals market in the forecast period.
Competitive Landscape -
Major companies operating in the antifungals market include Pfizer Inc., Novartis International AG, Merck & Co. Inc., Bayer AG, Abbott Laboratories, Sanofi S.A., Kramer Laboratories Inc., GlaxoSmithKline plc, Gilead Sciences Inc., Basilea Pharmaceutica AG, Sigma-Aldrich, Astellas Pharma Inc., Janssen Pharmaceutica NV, Zydus Cadila Healthcare Ltd., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Sumitomo Dainippon Pharma Co. Ltd., Scynexis Inc., Mayne Pharma Inc., Cosmo Pharmaceuticals NV, Leadiant Biosciences Inc, Glenmark Pharmaceuticals Limited, Cidara Therapeutics, MATINAS BIOPHARMA, Mylan N.V., Perrigo Company plc, Wockhardt Ltd., Lupin Limited, Dr. Reddy's Laboratories Ltd, Torrent Pharmaceuticals Ltd., Hikma Pharmaceuticals PLC, Mayne Pharma Group Limited, Fresenius Kabi AG, Baxter International Inc., Akorn Operating Company LLC, Amphastar Pharmaceuticals Inc., Mylan Institutional LLC, West-Ward Pharmaceuticals Corp., Gland Pharma Limited, Aurobindo Pharma Limited
Strategic Collaborations For Expansion In The Anti-Infective Drugs Market
Drug developers and manufacturers are scaling up the various departments such as research and development, marketing, and manufacturing through collaborations and strategic partnerships with other companies and research institutes, to expand their product portfolios. So, companies in the anti-infective drugs market should consider strategic collaborations to broaden their scope and product portfolios to increase revenues and stay competitive in the market.
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Key Segments -
The antifungals market covered in this report is segmented -
1) By Drug Type: Echinocandins, Azoles, Polyenes, Allylamines
2) By Route of Administration: Oral, Parenteral, Topical
3) By End users: Hospitals & Clinics, Dermatology clinics, Other Users
Sub-Segments
By Therapeutic Indications: Aspergillosis, Dermatophytosis, Candidiasis, Other Therapeutic Indications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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