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Aspergillosis Treatment Market Forecast 2024: Emerging Therapeutics and Global Trends
Aspergillosis Treatment Market Forecast
According to The Business Research Company's, The aspergillosis treatment market size has grown strongly in recent years. It will grow from $2.97 billion in 2023 to $3.14 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to diagnostic advancements, demand for antifungal medications, increased incidence, invasive procedures.
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Market Drivers and Trends:
The increasing prevalence of fungal infections is expected to propel the growth of the aspergillosis treatment market going forward. Fungal infections, also known as mycosis, are diseases caused by fungi. It can also cause infections in humans and animals. Aspergillosis is a fungal infection that affects various body parts, including the respiratory system, lungs, brain, kidneys and other organs. Aspergillosis treatment, such as voriconazole, aims to control the fungal infection, alleviate symptoms, prevent complications and improve overall health. For instance, in July 2023, according to the Centers for Disease Control and Prevention (CDC), a US-based public health agency, fungal hospitalization rates increased from 22.3 in 2019 to 25.0 in 2020 and 26.8 in 2021, a rise of an average of 8.5% annually per 10,000 hospitalizations. Therefore, the increasing prevalence of fungal infections is driving the growth of the aspergillosis treatment market.
Major companies operating in the aspergillosis treatment market are focused on introducing innovative aspergillosis drugs and solutions to sustain their position in the market. Drug development increases treatment options for aspergillosis, such as posaconazole oral suspension that provides more targeted and effective treatment options for patients. For instance, in April 2023, Hikma Pharmaceuticals plc, a UK-based pharmaceutical company, launched Posaconazole oral suspension in the US for aspergillosis treatment. These drugs apply to patients at high risk of contracting invasive aspergillus and candida infections as they have severely compromised immune systems, such as hematopoietic stem cell transplant (HSCT) recipients with graft-versus-host disease (GVHD). Oropharyngeal candidiasis (OPC), especially OPC refractory (OPC) to itraconazole and fluconazole, is another condition for which posaconazole oral suspension is recommended.
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Major Key Players of the Market:
Basilea Pharmaceutica Ltd., Pfizer Inc., Johnson and Johnson, AbbVie Inc., Bayer AG, Novartis AG, Merck and Co. Inc., Sanofi S.A., Bristol Myers Squibb Company, AstraZeneca PLC, GSK PLC, Takeda Pharmaceutical Company, Eli Lilly and Company, Gilead Sciences Inc., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries, Astellas Pharma Inc., Regeneron Pharmaceuticals, Mylan N.V. , Sun Pharmaceutical Industries, Jazz Pharmaceuticals, Dr. Reddy's Laboratories, Cipla Ltd., Bruker Corporation, Hikma Pharmaceuticals PLC.
Aspergillosis Treatment Market 2024 Key Insights:
• The aspergillosis treatment market size is expected to grow to $3.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Rising Prevalence Of Fungal Infections Spurs Aspergillosis Treatment Market
• Innovative Aspergillosis Treatment Solutions Enhance Patient Care
• North America was the largest region in the aspergillosis treatment market in 2023.
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