The global antifungal drugs market to grow at a CAGR of 3.20% during the period 2017-2021.
Antifungal drugs are chemical compounds used to kill or inhibit the growth of fungi. These drugs act by various mechanisms such as the inhibition of cell division, the inhibition of cell wall formation, and cell membrane disruption.
The report covers the present scenario and the growth prospects of the global antifungal drugs market for 2017-2021. To calculate the market size, the report considers revenue generated from the sales of branded, generics and OTC drugs used for the treatment and prevention of various fungal infections. The report also considers the revenue to be generated from the sales of drugs that are expected to be launched in the market along with the decline in revenue from the patent expiries of the marketed drugs during the forecast period. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is increased funding for antifungal research. Currently, few companies are investing in the discovery and R&D of drugs for these infections. This can be attributed to the increased regulatory guidelines and the decreased profits available for the development of antifungal drugs.
According to the report, one of the major drivers for this market is rising popularity of OTC antifungal drugs for dermal infections. Many OTC products or cosmeceuticals are available in the market for the treatment of dermal infections. Extensive advertisements and endorsements of OTC products have increased their sales over prescription drugs. OTC products are cost-effective in nature compared to their branded counterparts.
Further, the report states that one of the major factors hindering the growth of this market is antifungal drug resistance. The development of multidrug resistant microbes is one of the major threats to the human health in the present days. The microbe changes itself to protect against the antimicrobial agent used and thereby develops resistance to the drug. This develops primarily due to the irrational use of drugs. The incorrect prescription of the drugs by the physicians or the incorrect dosing or course taken by the patients along with the increased use in agriculture and animal husbandry industry leads to the development of such resistance.
QIDP and other special regulatory designations
Increase in prevalence of infections and environmental changes
Rising popularity of OTC antifungal drugs for dermal infections
Antifungal drug resistance
Increased availability of generics and alternative therapies
Poor patient adherence
Increased funding for antifungal research
Increased focus on combination therapies
Incorporation of novel technology for product development