IMARC Group, a leading market research company, has recently released a report titled “Antifungal Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global antifungal drugs market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the antifungal drugs market?
The global antifungal drugs market size reached US$ 14.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.
What is antifungal drugs?
Antifungal drugs, or antimycotic drugs, are used to stop the growth of infection-causing fungi. Such microorganisms can cause ringworm, yeast infection, and nail and skin inflammation that can be managed and treated through the administration of oral or injectable antifungal drugs. Fungal infections can also lead to circulatory and respiratory system illnesses upon inhalation.
Antifungals can be classified into three classes based on their site of action, including polyenes, azoles, and allylamines. They are extensively adopted to treat various disorders, such as athlete’s foot, candidiasis, ringworm, fungal meningitis, and aspergillosis. Currently, antifungal drugs are mainly available in cream, spray, tablet, over-the-counter (OTC), and intravenous (IV) injection forms.
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The increasing prevalence of fungal and nosocomial infections across the globe is creating a positive outlook for the market. In line with this, the growing need for effective OTC medicines, such as antifungal drugs, across the healthcare sector to treat systematic and superficial infections of the skin, eye, vagina, and mouth is propelling the market growth.
Furthermore, the rising number of drug approvals and the widespread adoption of nanotechnology to formulate advanced antifungal medicines that improve patient outcomes are aiding the market growth. This is further influenced by the advent of synthetic and semi-synthetic azole-based compounds for the treatment of invasive fungal infections, which is acting as a growth-inducing factor. Besides this, continuous research and development (R&D) activities in the medical science field to engineer novel antifungal drugs in different delivery modes and their availability across multiple distribution channels are supporting the market growth.
Antifungal Drugs Market 2023-2028 Competitive Analysis and Segmentation:
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
- Scynexis Inc.
Key Market Segmentation:
The report has segmented the global antifungal drugs market on the basis of drug class, indication and region.
Breakup by Drug Class:
- North America
- Latin America
- Middle East and Africa
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