The latest report by IMARC Group, titled “Antifungal Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global antifungal drugs market size reached US$ 14.0 Billion in 2021. Antifungal drugs, also known as antimycotic drugs, are pharmaceutical medicines used for the treatment of fungal infections on the skin, hair, and nails. They are used to kill or prevent the growth of fungi that cause infection in the body. They also neutralize fungal agents and dermatophytes, such as candida and tapeworms, and aid in the treatment of athlete’s foot, ringworm, aspergillosis, candidiasis, and fungal meningitis. As a result, antifungal drugs are given to the patient in capsule, gel, liquid, and pill variants or injected directly into the bloodstream to treat fungal infections.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Antifungal Drugs Market Trends:
The market is primarily driven by the growing prevalence of fungal and nosocomial infections across the globe. In addition, the easy availability of over-the-counter (OTC) drugs in urban and rural areas represents another major growth-inducing factor. Besides this, the leading manufacturers are investing extensively in research and development (R&D) of novel therapeutics to introduce sprays, creams, tablets, and injections with enhanced efficacy. This, coupled with the development of synthetic and semi-synthetic azole-based compounds for the treatment of invasive fungal infections, is contributing to market growth. Moreover, the expanding pharmaceutical industry, the rising health consciousness among the masses, and the implementation of favorable government policies promoting public health are some of the other factors creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 17.4 Billion by 2027, exhibiting a CAGR of 3.7% during 2022-2027.
Based on the drug class, the market has been classified into azoles [voriconazole (Vfend), posaconazole (noxafil), clotrimazole (Canesten), isavuconazole (CRESEMBA), and others], echinocandins [caspofungin (cancidas), micafungin (mycamine/ funguard), and others], polyenes [amphotericin (amBisome), and others], allylamines [terbinafine (Lamisil), and others], and others.
- On the basis of the indication, the market has been segmented into dermatophytosis, aspergillosis, candidiasis [invasive candidiasis, vulvovaginal candidiasis (VVC), mouth/throat/esophageal candidiasis, and others], and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Abbott Laboratories, Arcadia Consumer Healthcare Inc., Astellas Pharma Inc., Bayer AG, GlaxoSmithKline Plc, Merck & Co. Inc., Merck KGaA, Novartis AG, Pfizer Inc., Sanofi S.A., and Scynexis Inc.
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