Antifungal Drugs Market Size to be worth $20.5 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, May 24, 2022 /PRNewswire/ -- The global antifungal drugs market size is expected to reach USD 20.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.7% from 2022 to 2030. The increasing incidence of fungal infections worldwide is the key factor stoking the growth of the market. In addition, the rise in the adoption of immunosuppressive and antineoplastic agents, prosthetic devices and grafts, and broad-spectrum antibiotics has resulted in an increased incidence of fungal infections in recent years.

Key Insights & Findings from the report:

• Several types of fungicidal preparations, such as creams, sprays, tablets, and injections, are available. Increasing adoption of these products is anticipated to drive the market during the forecast period.
• The 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.
• The candidiasis indication segment is expected to witness the fastest CAGR over the forecast period due to increasing drug resistance of the Candida species to Azoles.
• North America held the largest market share in 2021 owing to higher awareness levels pertaining to the treatment of fungal infection and the presence of a large target population.
• In Asia pacific, the market is projected to register the fastest growth during the forecast period due to improving healthcare facilities coupled with rising government initiatives to create awareness of infectious diseases among the population.
• 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 are poised to provide the market with lucrative growth opportunities. For instance, Astellas Pharma partnered with Vical Incorporated for the development of VL-2397, an antifungal drug for the treatment of pulmonary aspergillus.

Get More Insights from full market research report with TOC: - "Antifungal Drugs Market Size, Share & Trends Analysis Report By Drug Class (Azoles, Echinocandins, Polyenes, Allylamines), By Indication (Dermatophytosis, Aspergillosis, Candidiasis), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Antifungal Drugs Market Growth & Trends

According to statistics published by the Centers for Disease Control and Prevention in 2017, it has been estimated that every year, nearly 220,000 new individuals are affected by cryptococcal meningitis, which is a brain infection and has resulted in 181,000 deaths per year around the world. Most of the deaths were reported in sub-Saharan Africa, due to the high prevalence of HIV/AIDS. This indicates the potential demand for antifungal drugs due to the high prevalence of mycological infections around the globe.

The government authorities in many countries had ordered nationwide lockdowns in order to contain the spread of COVID-19. Similarly, health systems in a number of countries around the world were having trouble maintaining their supply chains. The slowness of the supply chain has also impacted the demand for antifungal medications. As aged people are more prone to infectious diseases and chronic conditions, including HIV and cancer, the rise in the geriatric population worldwide is likely to stir up the demand for antifungals to treat opportunistic fungal infections. The demand for fungistatic agents is estimated to remain strong through 2030 due to mounting cases of fungal infections that are difficult to diagnose, yielding high mortality and morbidity rates.

Antifungal Drugs Market Segmentation

Grand View Research has segmented the global antifungal drugs market by drug class, indication, and region:

Antifungal Drugs Market - Class Outlook (Revenue, USD Million, 2018 - 2030)

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

Antifungal Drugs Market - Indication Outlook (Revenue, USD Million, 2018 - 2030)

• Dermatophytosis
• Aspergillosis
• Candidiasis
• Invasive Candidiasis
• Vulvovaginal Candidiasis (VVC)
• Mouth/Throat/Esophageal Candidiasis
• Other Candida Infections
• Others

Antifungal Drugs Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• Japan
• China
• India
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• South Africa 

List of Key Players of the Antifungal Drugs Market

• Novartis AG
• Pfizer, Inc.
• Bayer AG
• Sanofi
• Merck & Co., Inc.
• GlaxoSmithKline plc
• Abbott
• Glenmark
• Enzon Pharmaceuticals, Inc.
• Astellas Pharma, Inc.

Check out more related studies published by Grand View Research:

• Anti-infective Agents Market - The global anti-infective agents market size is expected to reach over USD 144.8 billion by 2026 according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.4% during the forecast period. Rising prevalence of infectious diseases such as HIV, H1N1, and Ebola virus reflect the profound changes in behavioural patterns of communities over the recent decades. The societal changes and increasing awareness among healthcare professionals and patients are driving the growth.
• Hospital Acquired Infections Therapeutic Market - The global hospital acquired infections therapeutic market size is expected to reach USD 12.5 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.4% from 2020 to 2027. The high prevalence of HAIs, rise in approval and launch of new drugs, and growing hospitalization due to the rise in prevalence of chronic diseases are driving the market.
• Antiviral Drugs Market - The global antiviral drugs market size is expected to reach USD 60.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of (-0.6%) from 2021 to 2028. This is owing to the loss of patent protection of drugs and the high R&D investment required for developing antiviral drugs. However, the rising prevalence of viral infections and the presence of a potential pipeline for the treatment of HIV infection are expected to fuel the growth over the forecast period.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected] 
Web: https://www.grandviewresearch.com 
Grand View Compass | Grand View Pipeline 
Follow Us: LinkedIn | Twitter

SOURCE Grand View Research, Inc.