The global anti fungal drugs market is estimated to be valued at US$ 14.0 billion in 2023 and is expected to exhibit a CAGR of 3.5% during the forecast period (2023-2030).
Analysts’ Views on the Global Anti-Fungal Drugs Market:
The increasing number of patients, who are more susceptible to fungal infections, is a key driver for the growth of the market over the forecast period. The rising number of product launches by the key players in the market is also expected to drive the market growth over the forecast period.
Figure 1. Global Anti Fungal Drugs Market Share (%), By Drug Type, 2023
Global Anti Fungal Drugs Market - Drivers
Figure 2. Global Anti Fungal Drugs Market Share (%), By Region, 2023
Global Anti Fungal Drugs Market - Regional Analysis
Among regions, North America is estimated to hold a dominant position in the global anti fungal drugs market over the forecast period. The global anti fungal drugs market is expected to witness significant growth in the coming years, driven by the acceptance of New Drug Application (NDA) by the regulatory bodies. For instance, in December 2022, F2G Inc., a biotechnology company announced that the U.S. FDA has accepted for filing of its New Drug Application (NDA) for olorofim for the treatment of invasive fungal infections in patients with limited or no treatment options.
Global Anti Fungal Drugs Market - Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, are facing problems with the transportation of products from one place to another.
The COVID-19 pandemic profoundly affected the market, with import and export operations being limited due to closures, resulting in shortages and unavailability of consumer goods and supplies. However, emerging reports and research indicated that a significant number of patients with severe COVID-19 infections required intensive care and were fighting another fatal infection, such as aspergillosis, caused by Aspergillus fungus. According to a study published in Journal of Microbiology, Immunology, and Infection in February 2021, Invasive Pulmonary Aspergillosis (IPA) incidence ranged from 19.6% to 33.3% among the studied population. Thus, researchers have found that patients with COVID-19 were at greater risk of pulmonary infections caused by fungal respiration, creating a demand for anti-fungal drugs during the later phases of the pandemic. Consequently, despite the short-term decline in the number of drugs and supply chain disruptions, the increasing fungal infections among COVID-19 patients had a considerable impact on the market, which is expected to continue to gain traction during the analysis period.
Global Anti Fungal Drugs Market Segmentation:
The global anti fungal drugs market report is segmented into by drug type, indication, dosage form, distribution channel, and region.
Among all the segmentation, the drug type segment is expected to dominate the market over the forecast period, and this is attributed to the increasing adoption of inorganic growth strategies, such as acquisitions, by the key players in the market. For instance, in April 2021, Pfizer Inc., a pharmaceutical company, announced that it has acquired Amplyx Pharmaceuticals, Inc., a privately-held company dedicated to the development of therapies for debilitating and life-threatening diseases that affect people with compromised immune systems. Amplyx Pharmaceuticals, Inc’s lead compound, Fosmanogepix (APX001), is a novel investigational asset under development for the treatment of invasive fungal infections.
Anti Fungal Drugs Market Report Coverage
|Base Year:||2022||Market Size in 2023:||US$ 14.0 Bn|
|Historical Data for:||2018 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||3.5%||2030 Value Projection:||US$ 17.8 Bn|
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., Alembic Pharmaceuticals Limited, and SCYNEXIS, Inc.
|Restraints & Challenges:||
Global Anti Fungal Drugs Market - Cross Sectional Analysis:
Increasing product launches by the key players in the market is also expected to boost demand global anti fungal drugs market in North America. For instance, in June 2021, Cadila Pharmaceuticals, a pharmaceutical company, announced the launch of a new triazole antifungal drug posaconazole, which has been found to be effective against a wide range of invasive fungal disease. The drug has also been recommended as a second line treatment for mucormycosis or black fungus as it is commonly known.
Global Anti Fungal Drugs Market: Key Developments
In August 2020, Alembic Pharmaceuticals Limited, a pharmaceutical company, announced that the company has received approval from the U.S. FDA for anti fungal Tavaborole Topical Solution. Tavaborole Topical Solution is indicated for the treatment of onychomycosis of the toenails.
In June 2021, Mankind Pharma, a pharmaceutical company, announced the launch of Posacoazole Gastro resistant tablets used to treat black fungus.
In December 2022, SCYNEXIS, Inc., a biotechnology company pioneering innovative medicines to overcome and prevent difficult-to-treat and drug-resistant fungal infections, announced that the U.S. Food and Drug Administration (FDA) has approved a second indication for BREXAFEMME (ibrexafungerp tablets) for the reduction in the incidence of recurrent vulvovaginal candidiasis (RVVC).
In December 2021, Novo Holdings A/S, a life science company, has announced that the U.S. Food and Drug Administration (FDA) has accepted for filing its New Drug Application (NDA) for olorofim for the treatment of invasive fungal infections in patients who have limited or no treatment options.
Global Anti Fungal Drugs Market: Key Trends
Global Anti Fungal Drugs Market: Restraint
Global Anti Fungal Drugs Market - Key Players
The major players operating in the global anti fungal 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., Alembic Pharmaceuticals Limited, and SCYNEXIS, Inc.
*Definition: Antifungal drugs are the drugs that treat fungal infections by killing or stopping the growth of dangerous fungi in the body. Fungi can develop resistance to antifungal drugs the same way bacteria can develop resistance to antibiotics. Resistance happens when germs develop the ability to defeat the drugs designed to kill them. That means the germs are not killed and continue to grow.
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