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Invasive Fungal Infections Report 2024 - Market Share Analysis And Trends
Invasive Fungal Infections Global Market Report 2024
According to The Business Research Company's, The invasive fungal infections market size has grown strongly in recent years. It will grow from $7.21 billion in 2023 to $7.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to global spread of infections, hematopoietic stem cell transplants, aging population, hospital-acquired infections, environmental factors..
The invasive fungal infections market size is expected to see steady growth in the next few years. It will grow to $9.08 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to global health preparedness, public health education, novel antifungal agents, climate change impact, multidisciplinary approaches.. Major trends in the forecast period include advancements in diagnostic technologies, tailored therapeutic approaches, patient-centric care, combination antifungal therapies, collaborations for drug development..
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Market Drivers and Trends:
The rise in the population suffering from human immunodeficiency virus (HIV) is expected to propel the growth of the invasive fungal infection market going forward. HIV (Human Immunodeficiency Virus) infection is a virus that compromises the immune system's ability to defend against diseases and illnesses. The rising number of individuals with compromised immune systems, such as HIV (Human Immunodeficiency Virus) or AIDS (acquired immunodeficiency syndrome), increases the susceptibility to invasive fungal infections, creating opportunities for manufacturers to develop and supply specialized and more effective antifungal drugs. For instance, in July 2023, according to The Joint United Nations Programme on HIV/AIDS (UNAIDS), the Switzerland-based United Nations program dedicated to addressing the global HIV/AIDS epidemic, the global population living with HIV increased to 39 million in 2022, up 3.17% from 37.7 million in 2020. Furthermore, there were approximately 1.3 million new HIV infections reported in 2022. Therefore, the rise in the population suffering from the human immunodeficiency virus (HIV) will drive the growth of the invasive fungal infection market.
Major companies operating in the invasive fungal infection market are focused on developing an antifungal drug such as Posaconazole to address the increasing demand for more effective and innovative treatments for fungal infections and gain a competitive edge in the market. Antifungal drugs such as Posaconazole are medications designed to treat fungal infections by inhibiting growth or killing the fungi responsible for the disease. For instance, in June 2021, Cadila Pharmaceuticals Ltd., an India-based pharmaceutical company, launched Posaconazol, a new triazole antifungal drug. It is effective against various invasive fungal diseases and is recommended as a second-line treatment for mucormycosis (black fungus). This drug is approved to prevent aspergillus and candida infections in immunocompromised patients and treat oropharyngeal candidiasis (OPC).
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Major Key Players of the Market:
Pfizer Inc., Merck And Co. Inc., Bayer AG, Abbott Laboratories, GSK plc, Gilead Sciences Inc., Siemens Healthineers, Mylan N.V., Astellas Pharma Inc., Quest Diagnostics Incorporated, Sun Pharmaceutical Industries Ltd., BioMérieux SA, BioMarin Pharmaceutical Inc., Xellia Pharmaceuticals, Basilea Pharmaceutica, Cidara Therapeutic Inc., Pulmocide Ltd., NovaBiotics Ltd, F2G Ltd., Giner Inc., Ciron Drugs And Pharmaceuticals Pvt. Ltd., Hexima Limited, Scynexis Inc., Enzon Pharmaceuticals Inc., Matinas BioPharma Holdings Inc., Biosergen AB
Invasive Fungal Infections Market 2024 Key Insights:
• The Invasive Fungal Infections Market is expected to grow to $9.08 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%.
• Impact Of Hiv Epidemic On The Invasive Fungal Infection Market
• Advancements In Antifungal Drug Development And Market Competitiveness
• North America was the largest region in the invasive fungal infections market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the invasive fungal infections market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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