Global Antifungal Drugs Market Growth is Influenced by Rising Prevalence of Fungal Infections Coupled With an Increase in Awareness | Reports and Data

NEW YORK, September 17, 2019 (Newswire.com) - ​The global antifungal drugs market is expected to reach USD 13.03 Billion by 2026, according to a new report by Reports and Data. Antifungal drugs are used to treat fungal infections. Rising prevalence of fungal infections and fungal diseases is one of the most significant factors anticipated to boost the market demand in the upcoming years. Though most of the infections caused by fungus are non-fatal in nature, they cause great inconvenience to the people suffering from it and as a result would require proper medication for their cure.

An increase in the level of disposable income of the people coupled with increasing awareness towards healthy well-being is likely to boost the growth of the market in the future. An increase in the population of people with weak immunity who are vulnerable to fungal infection and an increase in the elderly population are also forecast to drive the market in the future.

Additionally, increased investments made in R&D along with public-private partnership agreements in the pharmaceutical industry to come up with novel and more effective drugs for treating fungal infections as well as the increasing demand for OTC (over-the-counter) antifungal drugs, especially for treatment for skin-related infection, is causative of the growth of the market.

Availability of generic drugs and conventional therapies for fungal infections may create hindrances in the growth of the market in the forecast period.

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 Further key findings from the report suggest

• Azoles held the largest market share of over 40% in 2018 and are expected to witness the fastest growth rate of 1.6% in the forecast period. The growing demand of Azoles may be attributed to the ongoing development of novel antifungal drugs by making use of the azole group.
   
• Azoles are extensively used for the treatment of superficial and invasive fungal infections. The drug has fewer side-effects, less severe drug interactions, and enhanced absorption and distribution properties.
   
• Dermatophytosis held a market size of USD 2.79 billion in 2018 and is estimated to grow at a rate of 1.7% throughout the forecast period owing to the increasing prevalence of skin infections especially in children.

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• The antifungal drugs market in North America contributed to the largest market share of around 40% in 2018 and is estimated to grow at a rate of 1.1% during the forecast period.
   
• The market dominance of North America may be attributed to the growing prevalence of fungal infections coupled with an escalation in the usage of these drugs is anticipated to fuel the market demand in the forecast period.
   
• Key participants include Merck & Co. Inc., Novartis AG, Pfizer Inc., Bayer AG, Enzon Pharmaceuticals Inc., GlaxoSmithKline PLC, Abbott, Sigma-Aldrich, Glenmark Pharmaceuticals, and Astellas Pharma Inc. among others.
   
• In December 2019, GlaxoSmithKline and Pfizer, two significant companies in the market, announced the merging of their health care divisions, forming a market leader in OTC (over the counter) health care products such as pain relievers and vitamins with joint sales of USD 12.7 billion.

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Segments covered in the report:

For the purpose of this report, Reports and Data have segmented the global antifungal drugs market on the basis of drug class, dosage form, indication, distribution channel, and region:                       

Drug Class Outlook (Revenue, USD Million; 2016-2026)

• Azoles
  • Voriconazole (Vfend)
  • Posaconazole (Noxafil)
  • Clotrimazole (Canesten)
  • Isavuconazole (CRESEMBA)
  • Others
• Echinacandins
  • Caspofungin (Cancidas)
  • Micafungin (Mycamine/ Funguard)
  • Others
• Polyenes
  • Amphotericin (AmBisome)
  • Others
• Allylamines
  • Terbinafine (Lamisil)
  • Others
• Others

Dosage Form Outlook (Revenue, USD Million; 2016-2026)

• Liquid or Spray
• Shampoo
• Gels
• Injections
• Pills
• Creams

Indication Outlook (Revenue, USD Million; 2016-2026)

• Candidiasis
• Dermatophytosis
• Aspergillosis
• Others

Distribution Channel Outlook (Revenue, USD Million; 2016-2026)

• Hospitals Pharmacies
• Specialty Clinics
• Retail Pharmacies
• Online Pharmacies

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)

• North America
  • U.S.
• Europe
  • U.K.
  • France
• Asia Pacific
  • China
  • India
  • Japan
• MEA
• Latin America
  • Brazil

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