Global Antifungal Drugs Market to Reach US$ 17.4 Billion by 2027, Impelled by Increasing Prevalence of Fungal Infections

The global market is primarily driven by significant growth in the pharmaceutical sector.

SHERIDAN, WY, USA, October 25, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled " Antifungal Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global antifungal drugs market size reached US$ 14.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.4 Billion by 2027, exhibiting a growth rate (CAGR) of 3.7% during 2022-2027. 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.

Note: 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.

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Antifungal Drugs Market Trends:

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 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the global antifungal drugs market has been studied in the report with the detailed profiles of the key players operating in the market.

Competitive Landscape with Key Players:

• 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:

• Azoles
• Echinocandins
• Polyenes
• Allylamines
• Others

Breakup by Indication:

• Dermatophytosis
• Aspergillosis
• Candidiasis
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key Highlights of the Report:               

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Industry Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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