Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The ongoing research and development of drugs by market players is expected to drive growth of the global antifungal drugs market. In 2015, Astellas Pharma Company launched Isavuconazole (Cresemba) drug in Europe for treatment of adult patients with invasive aspergillosis and mucormycosis, for whom amphotericin B use has been found inappropriate treatment option. This drug is available in the U.S and has a broad spectrum of intravenous and oral formulations and good results with patient safety. The company has received European marketing authorization for isavuconazole in all 28 EU member states, Iceland, Liechtenstein and Norway.
Similarly, in 2017, Pfizer Inc. launched its antifungal drug, Cresemba, in Spain by partnering with Basilea Pharmaceutical. Pfizer Inc. had planned to commercialize this drug in major EU markets and Austria.
Availability of generic drugs for treatment of fungal infections is another factor that is expected to drive growth of this market. For instance, in 2016, Ajanta Pharma launched voriconazole tablets (50-mg and 200-mg dose) in the U.S market. Voriconazole tablets are the generic equivalent of Pfizer’s Vfend, an antifungal drug.
Global Antifungal Drugs Market - Impact of Coronavirus (COVID-19) Pandemic
The spread of the novel coronavirus has hampered growth of the healthcare industry. In December 2019, a cluster of pneumonia cases were reported by Chinese health authorities in China’s Wuhan City. The pneumonia causative agent was identified as a novel coronavirus named COVID-19. This virus spread rapidly across the globe causing a concerning number of fatalities. In March, 2020, the World Health Organization (WHO) declared COVID-19 as a global pandemic and suggested implementation of strict measures to minimize the spread of this disease. The pandemic has slowed growth of the healthcare sector and led to a disturbance in the supply chain.
Moreover, governments across various countries have implemented nationwide lockdowns to curb the spread of COVID-19. Similarly, in various countries across the world, healthcare companies are facing problems of continuing their supply chain operations. The slowdown of in the supply chain has also impacted growth of the global antifungal drugs market.
The global antifungal drugs market is estimated to be valued at US$ 11,591.0 million in 2020 and is expected to exhibit a CAGR of 1.8% during the forecast period (2020-2027).
Fig. 1. Global Antifungal Drugs Market Share (%) Analysis, By Drug Type, 2020
Global Antifungal Drugs Market- Restraints
Stringent government regulations are expected to restrain growth of the market. In 2020, the U.S FDA published Guidance on Antibacterial and Antifungal Drugs in which few sections focusing on establishing the safety and effectiveness of limited population antibacterial and antifungal drugs were added.
Additionally, increasing recall rate of pharmaceutical drugs is expected to restrain growth of this market. For instance, in August, 2020, Pharmaceutical Associates Inc. recalled around 7,416 bottles of nystatin oral suspension after the U.S Food and Drug Administration (FDA) Enforcement Report that showed out-of-specification results in 15-month test interval.
Antifungal Drugs Market Report Coverage
| Report Coverage |
Details |
| Base Year: |
2019 |
Market Size in 2020: |
US$ 11,591.0 Mn |
| Historical Data for: |
2017 to 2019 |
Forecast Period: |
2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: |
1.8% |
2027 Value Projection: |
US$ 13,132.8 Mn |
| Geographies covered: |
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
|
| Segments covered: |
- By Drug Type: Echinocandins, Polyenes, Allylamines, Azoles, Others.
- By Indication: Aspergillosis, Dermatophytosis, Candidiasis, Others.
- By Dosage Form: Powders, Ointments, Drugs, Others.
|
| Companies covered: |
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.
|
| Growth Drivers: |
- Continuous drug launches by market players is expected to drive growth of global antifungal drugs market
|
| Restraints & Challenges: |
- Increasing recall of antifungal drugs
|
Global Antifungal Drugs Market: Opportunities
Increasing fungal resistance to antifungal drugs is expected to create significant opportunities for player to develop new drugs. Fungal resistance is of two types; microbiological and clinical. Microbiological resistance depends on established genetic alteration in the various fungi, and clinical resistance is due to host- or drug-related factors.
Global Antifungal Drugs Market: Regional Analysis
On the basis of region, the global antifungal drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to witness significant growth in the global antifungal drugs market, owing to health complications associated with candidiasis during and after pregnancy. According to the CDC, in 2015, vaginal candidiasis was the second most common type of vaginal infection after bacterial vaginal infection. The CDC estimates that around 1.4 million outpatient visits for vaginal candidiasis occur annually in the U.S.
Additionally, the increasing research and development of novel medications showcasing broad-spectrum antifungal activity against invasive fungal infections caused due to Candida albicans. For instance, in October 2018, researchers at the American Society for Microbiology identified a compound alexidine dihydrochloride, which has the highest antifungal and anti-biofilm activity against a diverse range of fungal pathogens, and potential for use as a pan-antifungal drug.
Fig 2. Global Antifungal Drugs Market Value (US$ mn) & Y-o-Y Growth (%), 2017-2027
Global Antifungal Drugs Market- Competitive Landscape
Key players operating in the global antifungal drugs market are GlaxoSmithKline Plc, Bayer AG, Abbott Laboratories, Merc k & Co., Inc, Glenmark Pharmaceuticals Limited, Enzon Pharmaceuticals, Inc., Pfizer Inc., Gilead Sciences, Inc., Sanofi S.A. and Astellas Pharma, Inc.
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