Global Antifungal Drugs Market to Surpass US$ 16.2 Billion by 2028, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the global antifungal drugs market is estimated to be valued at US$ 13.1 billion in 2021 and is expected to exhibit a CAGR of 3.1% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Antifungal Drugs Market:

Key trends in the market include increasing research and development activities, product launches and approvals, inorganic activities such as acquisition, increasing prevalence of fungal infections and others.

Increasing product approvals by the regulatory authorities is expected to drive the growth of the global antifungal drugs market over the forecast period. For instance, on May 11, 2021, Drug Controller General of India (DCGI), approved the use of antifungal drug liposomal amphotericin B or LAmB, for the treatment of mucormycosis. According to the National Center for Biotechnology Information, 4th May 2021, Mucormycosis is a deadly fungus infection, which is currently increasing in India among the patients who have recovered from COVID-19 infection.

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Key players are engaged in inorganic activities such as acquisitions, in order to expand their product portfolio. This is expected to increase the growth of the antifungal drugs market over the forecast period. For instance, on April 28, 2021, Pfizer, Inc., a pharmaceutical company, acquired, Amplyx Pharmaceuticals, Inc., a company indulged in developing treatments for life-threatening diseases. This acquisition has expanded Pfizer, Inc.’s product portfolio by addition of Phase II novel anti-fungal drug candidate, Fosmanogepix (APX001).

Market players are indulged in conducting research and development activities for the development of new drugs. This is expected to increase the growth of the market over the forecast period. For instance, Astellas Pharma Global Development, Inc., a pharmaceutical company based in Tokyo, Japan, is currently conducting clinical trials for evaluating the safety, tolerability, and efficacy of isavuconazonium sulfate in pediatric participants. Isavuconazonium sulfate is a systemic antifungal medication of the triazole class, which is used to treat invasive aspergillosis and mucormycosis. Currently the trial is in Phase II and is expected to be completed by February 2, 2022.

Key Market Takeaways:

Increasing prevalence of fungal infections among the global population is expected to increase the growth of the global antifungal drugs market over the forecast period. For instance, according to the article published in the Journal of Fungi in 2017, globally, till the year 2016 approximately 1.5 million people died and over a billion people were affected due to fungal infections. According to the Center for Disease Control and Prevention (CDC), 2020, candida is a leading cause of healthcare-associated bloodstream infections in the U.S. hospitals. Each case of candidemia is estimated to result in an additional 3 to 13 days of hospitalization and an increase of around US$ 6,000 to US$ 29,000 in healthcare costs.

Among regions, North America is expected to hold a dominant position in the global antifungal drugs market over the forecast period, owing to increasing launches of antifungal drugs. For instance, on May 12, 2021, Fresenius Kabi launched and antifungal agent Micafungin in the U.S., which is an intravenous drug. By launching the drug, Fresenius Kabi has expanded its product portfolio in antifungal drugs segment.

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Competitive Landscape:

Key players operating in the global antifungal drugs market include GlaxoSmithKline Plc, Bayer AG, Abbott Laboratories, Merck & Co., Inc, Glenmark Pharmaceuticals Limited, Enzon Pharmaceuticals, Inc., Pfizer Inc., Gilead Sciences, Inc., Sanofi S.A., and Astellas Pharma, Inc.

Market Segmentation:

• Global Antifungal Drugs Market, By Drug Type:
  • Echinocandins
  • Polyenes
  • Allylamines
  • Azoles
  • Others
• By Indication:
  • Aspergillosis
  • Dermatophytosis
  • Candidiasis
  • Mucormycosis
  • Others
• By Dosage Form:
  • Powders
  • Ointments
  • Drugs
  • Others
• By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • U.K.
      • Germany
      • Italy
      • Spain
      • France
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • Australia
      • India
      • China
      • Japan
      • ASEAN
      • South Korea
      • Rest of Asia Pacific
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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Global #Antifungal Drugs Market is projected to grow at a CAGR of 3.1% during the forecast period 2021-2028, Says Coherent Market Insights