Global Vaginal Fungi Infections Treatment Market, by Drug Type (Fluconazole, Nystatin, Flucytosine and Others), by Route of Administration (Oral and Topical), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 987.2 million in 2020 and is expected to exhibit a CAGR of 5.3% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Launch of novel products by market players to augment the market growth
Continuous product development and product launches are expected to propel the growth of the market. For instance, in January 2018, Lupin Limited (Lupin) launched Flucytosine capsules USP, 250 mg and 500 mg, which are AB rated generic equivalent of ANCOBON Capsules, 250 mg and 500 mg. Similarly, in November 2017, Perrigo Company plc, launched the generic version of Nystatin and triamcinolone acetonide cream indicated for the treatment of cutaneous candidiasis.
Moreover, major key players in the market are focused on research and development of novel products, which is expected to boost the market growth. For instance, in October 2020, Mycovia Pharmaceuticals, Inc., a late stage emerging biopharmaceutical company, announced that the last patient finished its final visit for the global Phase 3 ‘VIOLET Studies’ for Oteseconazole (VT-1161) for the treatment of recurrent vulvovaginal candidiasis (RVVC).
Global Vaginal Fungi Infections Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in over 30.6 million infected individuals worldwide as of 21st September 2020.
COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channel, and by its financial impact on firms and financial markets. Due to lockdowns, several countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of such drugs from one place to another.
Moreover the COVID-19 pandemic has impacted the supply of raw materials and potent compounds, which are used for manufacturing drugs such as vaginal fungi infections treatment and this is expected to hamper the market growth in the near future.
Browse 37 Market Data Tables and 25 Figures spread through 185 Pages and in-depth TOC on “Vaginal Fungi Infections Treatment Market – by Drug Type (Fluconazole, Nystatin, Flucytosine and Others), by Route of Administration (Oral and Topical), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027”
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Key players in the market are focused on strategies such as mergers and acquisitions to enhance their product portfolio. For instance, in July 2020, ANI Pharmaceuticals, Inc. acquired Fluconazole Tablets USP, 50mg, 100mg, 150mg, and 200mg from a private company, in order to expand its generic portfolio.
Key Takeaways of the Global Vaginal Fungi Infections Treatment Market:
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