NEW YORK, Jan. 5, 2017 /PRNewswire/ -- The global antifungal drugs market was valued at USD 10.7 billion in 2015 and is expected to reach a value of USD 12.6 billion by 2025. The increasing incidence of fungal infections worldwide is the key contributing factor for the growth of the antifungal drugs market in the coming years. Rising adoption of immunosuppressive andantineoplastic agents, prosthetic devices and grafts, and broad-spectrum antibiotics have resulted in the increasing incidence of fungal infections in the recent years.
The growing geriatric population prone to infectious diseases and higher prevalence of chronic conditions, including HIV and cancer, are further contributing toward the rising demand for antifungals to treat opportunistic fungal infections over the forecast period. The large demand for these fungistatic agents is due to the nature of fungal infections, which are difficult to diagnose, yielding high mortality and morbidity rates.
Further Key Findings from the Study Suggest:
Echinocandins segment is anticipated to exhibit lucrative growth owing to their cell wall-specific fungicidal property coupled with their broad-spectrum activity against Aspergillus and Candida species without cross-resistance risks
Candidiasis indication segment is anticipated to witness the fastest CAGR over the forecast period due to the increasing drug resistance of the Candida speciesto Azoles
North America held the largest market share as of 2015, which is attributable to higher awareness levels pertaining to the treatment of fungal infection and presence of target diseases in the population
Asia pacific is predicted to exhibit the fastest growth due to improving healthcare facilities coupled with rising government initiatives to create awareness of infectious diseases amongst the population
The companies are focusing on the development of effective therapeutic agents for the treatment of systemic fungal infections in immune-compromised patients
Numerous ongoing public-private partnership agreements in the pharmaceutical industry for the development of novel therapeutics is predicted to provide this market with lucrative growth opportunities
For example, the public-private partnership, namely Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator is anticipated to provide USD 44 million in 2016 and around USD 350 million in the coming 5 years to boost the R&D pipeline
The partners involved in this partnership are the U.S. Department of Health and Human Services, the Antimicrobial Resistance Centrein England, and Boston University School of Law
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