22 February 2021
Visiongain has published a new report on Antifungal Drugs Market Report to 2031. According to the Visiongain analysis, the global Antifungal Drugs market is anticipated to grow at a CAGR of XX% during the forecast period (2021-2031). The global Antifungal Drugs market is segmented by type (Azoles, Echinocandins, Polyenes), By Application (Aspergillosis, Dermatophytosis, Candidiasis, Others), by Administration (Drugs, Powders, Others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). The report includes detailed Profiles of Leading Antifungal Drugs Companies. PLUS COVID-19 Recovery Scenarios.
Global Antifungal Drugs Market was valued at US$XX billion in 2021 and is projected to reach a market value of US$ XX billion by 2031. The study covers detailed and insightful chapters on market overview, market segments, new developments, competitive landscape, strategic recommendations, key company analysis, market opportunities, pricing analysis, gap analysis, porter’s 5 forces model, company profiling, geographical analysis, and analytical overview of the market. The rising incidences of fungal infection and increasing awareness to treat infection among people are some of the factors that are driving the growth of antifungal drugs market.
COVID-19 Impact on the Global Antifungal Drugs Market
The COVID-19 pandemic has disrupted the supply chain of antifungal drugs market due to the stringent lockdowns around the globe. China, India, the US, and other EU countries are the biggest manufacturers of the antifungal drugs. Flight restrictions in the first quarter of 2020 affected the sales of the antifungal drugs market. The supply chain disruption and the stringent social distancing norms hit the antifungal drugs market. However, with the unlocking of the economies in the second quarter of 2020 brought back the derailing growth of the antifungal drugs market.
Rising incidences of fungal infection.
The rising incidence of fungal infection increases among older population, and in the patients with compromised immune system. According to National Institute of Health, the prevalence of fungal infection in females is 1.3 times higher than males. About 1.5 million people dies and billions are affected due to fungal diseases globally. The rising incidence and prevalence rate of fungal infection will boost the market in near future.
Availability of limited number of antifungal drugs to treat fungal infection.
There are limited number of antifungal drugs to treat fungal infection, which contributes towards increasing rate of morbidity and mortality. However, only few classes of antifungal agents, such as polyenes, azoles, and echinocandins received FDA-approval to treat invasive fungal infection.
Emerging antifungal resistance in drugs
The increasing resistance to antifungal drug is major concern, increasing percentage of resistance to azole antifungal class. In US Candida auris is developing multidrug-resistant type of Candida, which creates serious health threat among the population. The limited number of approved antifungal drugs, contributing towards high mortality rate. The resistance to amphotericin B is rare; however, some fungal species display intrinsic resistance to polyene.
Pfizer Inc., GlaxoSmithKline PLC, Bayer Healthcare LLC, Novartis AG, Sanofi-Aventis, Merck & Co., Glenmark Pharmaceuticals Ltd., Basilea Pharmaceutica Ltd, SCYNEXIS Inc., F2G Ltd, are some of the key players contributing to the growth of the global Antifungal Drugs market. The market players are adopting new strategies to stay competitive in the global market such as new product developments, joint ventures, mergers and acquisitions, and geographical expansions.
For instance, in June 2020, F2G Ltd, announced the olorofim received both FDA Orphan Drug Designation for Coccidioidomycosis and Qualified Infectious Disease Product (QIDP) designation for multiple fungal infections. Currently, olorofim is being investigated in an open-label single-arm Phase 2b study in patients with proven invasive fungal disease or probable invasive aspergillosis.
In November 2018, Zydus Cadila received the US FDA approval to market Nystatin and Triamcinolone Acetonide ointment, which are used to treat skin fungal infection.
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