In the year 2018 Antifungal Drugs Market was valued at $13.06 billion. By the year 2023, it is predicted to reach $15.65 billion with the pace of 3.68% CAGR.
An antifungal medication, also known as an antimycotic medication, is a pharmaceutical fungicide or fungistatic used to treat and prevent mycosis such as athlete’s foot, ringworm, candidiasis (thrush), serious systemic infections such as cryptococcal meningitis, and others. Such drugs are usually obtained by a doctor’s prescription, but a few are available OTC (over-the-counter).
The antifungal drugs market is classified based on drug type into Echinocandins, Azoles, Polyenes, Allylamines and Other Drugs. Azoles antifungal drug market is the largest division of the market followed by echinocandins antifungal drug market.
The global antifungal drugs market is geographically segmented into
- North America,
- Latin America and Middle East & Africa. North
The America and Europe together contribute to a major share of the global antifungal drugs market, while the market in Asia-Pacific is the fastest growing followed by Latin America. The Middle East & Africa Antifungal Drugs Market is expected to reach the growth rate of CAGR of 3.462% by 2023.
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Factors affecting market growth:
Antifungal Drugs market is majorly affected by the following factors
- The increasing awareness of fungal infections with the growing incidence of antifungal infections all over the world (+)
- The increase in government and corporate funding in the industry. (+)
- The development of a public-private partnership in the pharmaceutical industry and the rising popularity of over-the-counter antifungal drugs for dermal infections is responsible for the growing antifungal drugs market size. (+)
- The rise in population with weak immune system due to cancer chemotherapy or acquired immunodeficiency syndrome, in whom the occurrence of fungal infections is much more than average. (+)
- High penetration of conventional drugs used for the treatment of fungal infections. (-)
- Cost of drugs and their effectiveness in treatments. (-)
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The Most important industries contributing to the global market are Alternaria, Pfizer, Novartis, Sanofi-Aventis, Merck & Co., Aspergillus, Kramer Laboratories, Bayer Healthcare, Enzon Pharmaceuticals, GlaxoSmithKline Gilead and Abbott Laboratories.
The scope of the report:
1. Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the untapped regions.
2. The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
3. Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
4. Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
5. Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
6. A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
7. Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
8. An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
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