Antifungal Drugs Market Size Worth $13.8 Billion By 2025 | CAGR: 1.9%
Published Date : 20 / 08 / 17 | Report Format: PDF
The global antifungal drugs market is expected to grow at growth rate of 1.9% to reach USD 13.8 billion by 2025.
Fungi are recognized as a major problem for respiratory conditions and symptoms in COPD, asthma, and bronchiectasis patients. Favorable government initiatives would in turn surge in demand for antifungals, leading to drive the market growth. For instance, in January 2015, company named Scynexis, Inc. received U.S. FDA fast track designation for the SCY-078 (oral formulation) for the invasive fungal infections treatment. Such approvals will drive the market growth to great extent. Also, the market for antifungal drugs will undoubtedly increase over the coming few years owing to the surge in demand/utilization of antifungal drugs increase at constant rate over the coming few years.
Sale of many established as well as some new antifungal drugs touch peak revenue which shows the potential growth of the market. For example, established agent fluconazole and terbinafine had achieved peak revenue in excess of USD 1 billion. Peak revenue of of voriconazole recorded USD 800 million, itraconazole was around USD 900 million and similarly caspofungin was about USD 600 million. This increase in the drug sale will significantly boost the market to great extent.
One of the other factors aiding the spread of these diseases was to rising number of patient population susceptible to fungal infections. For example, according to the Centre for Disease Control and Prevention, fungal infection cause substantial morbidity and mortality among patients. Currently, antifungals drugs represent more than 7% of the global anti-infective market and with around 20% annual growth which is anticipated to cross over USD 15 billion in value after some years. However, in contrast to antibacterials, there are very limited number of antifungal drugs available commercially which would hamper the market growth to some extent.
Antifungal drugs are divided in terms of Azoles, Echinocandins, Polyenes, Allylamines and others. Echinocandins is the highest growing drug class in antifungal treatment, with 4.2% CAGR during the forecast period. In terms of indication, the market divided as Dermatophytosis, Aspergillosis, Candidiasis and Others. Candidiasis segment hold largest revenue and is expected to maintain its dominant position in future. Regionally, the market analyzed in terms of North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Developed regions accounted for the largest share owing to the rise in research and development activities in this area. North America (U.S.) recorded almost 35% share of the total market in 2016.
Key companies such as Pfizer, Inc., Novartis AG, Sanofi-Aventis, Merck, Bayer AG, and GlaxoSmithKline exhibit their potential in this market. Extensive research and development activities coupled with new product approval helped these companies to record significant revenue share of the global market.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
MARKET, BY INDICATION
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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