Mucormycosis Market Size Worth $616.1 Million By 2028 | CAGR: 3.4%: Polaris Market Research

NEW YORK, May 18, 2021 /PRNewswire/ -- The global mucormycosis market size is expected to reach USD 616.1 million by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 3.4% from 2021 – 2028. Increasing incidences of immunological diseases, a huge surge in the prevalence of fungal infections in COVID-19 recovered patients, and the availability of a range of medical products are the major driving factors for the market growth. In addition to this, growing awareness among people about the early cure of fungal infections coupled with increasing government support in R&D initiatives for the timely treatment of mucormycosis is expected to further contribute to the exponential growth of the market. 

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Key Trends Observed in the Mucormycosis Market

• Based on treatment, the amphotericin B therapy segment is accounted for the largest market share as it is the preferred treatment for fungal infections. This is the only approved antifungal therapy for mucormycosis that is widely used in European countries as the standard of treatment.
• By end-use, the hospitals and clinics segment dominated the global mucormycosis market and is projected to increase its dominance during the forecast period. The segment's growth attributed to increased hospital admissions due to increasing patients having fungal infections.
• Asia Pacific is projected to be a dominant regional market during the forecast period, owing to a continuous rise in cases of fungal infections leading to mucormycosis and increasing patients detected with HIV disease.
• Synbiotics Limited, a subsidiary of Ambalal Sarabhai Enterprises (ASE) and a leading manufacturer of the API Amphotericin B has ramped up the manufacturing capacity for fulfilling the rising demand for the most effective anti-fungal antibiotic.

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COVID-19 Impact on Mucormycosis Market

There is a sudden rise in the cases of mucormycosis in COVID-19 affected countries, especially in India. Some of the people who have recovered from the COVID-19 disease detected with fungal infections after few days, causing mucormycosis disease among these people. It is posing a challenge as well as providing lucrative opportunities for industry players to bring more effective medical solutions to contain the spread of such fungal infections.

Regional Developments

North America dominated the market for mucormycosis, owing to the presence of a huge patient population, availability of well-developed healthcare infrastructure, and increasing investment in the R&D program to bring innovation in the healthcare service offerings. In the Asia Pacific, the market is expected to garner the fastest growth rate on account of the growing prevalence of HIV, a rise in cases of mucormycosis during the COVID-19 pandemic, and positive steps taken by the government to contain the spread of fungal infections among COVID-19 recovered patients in the region.

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Competitive Outlook

Several leading companies are working dedicatedly to develop new drugs and innovate new treatments for the early diagnosis and cure of mucormycosis, owing to the increasing prevalence of mucormycosis amid the COVID-19 pandemic. Market participants are also entering into strategic collaborations to ensure the distribution of their drugs globally.

Some of the key players dominating the global mucormycosis market are Biocon Limited, Abbott Laboratories, Cadila Pharmaceuticals Limited, F. Hoffman La Roche, Novartis AG, Merck Sharp and Dohme, Bristol Myers Squibb, Mylan Labs, Bayer AG, Sanofi, Lonza Group, Johnson & Johnson, Gilead Sciences, and Pfizer Inc. are some of the key players operating in the global market

Target Audience

• Supply Side: Biopharmaceutical and Pharmaceutical Company
• Demand Side: Hospitals, Medical Institutes, Research Organization
• Regulatory Side: World Health Organization

Polaris Market Research has segmented the mucormycosis market report on the basis of diagnosis, treatment, end-use, and region:

Mucormycosis, Diagnosis Outlook (Revenue – USD Million, 2016 – 2028)

• Computed Tomography (CT)
• Magnetic Resonance Imaging (MRI)
• Tissue Biopsy
• Others

Mucormycosis, Treatment Outlook (Revenue – USD Million, 2016 – 2028)

• Surgery
• Antifungal Drugs
• Posaconazole
• Isavuconazole
• Voriconazole
• Fluconazole
• Flucytosine
• Others
• Amphotericin B Therapy
• Others

Mucormycosis, End use Outlook (Revenue – USD Million, 2016 – 2028)

• Hospitals & Clinics
• Medical Institutes
• Research Organization
• Others

Mucormycosis, Regional Outlook (Revenue – USD Million, 2016 – 2028)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Italy
• France
• Spain
• Austria
• Netherlands
• Asia Pacific
• China
• Japan
• India
• Indonesia
• Malaysia
• South Korea
• Latin America
• Brazil
• Argentina
• Mexico
• Middle East & Africa
• Israel
• Saudi Arabia
• South Africa
• UAE

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