Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- The Global Antifungals Market Research Report 2020-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global antifungals market was valued at about $9.4 billion in 2018 and is expected to grow to $11.96 billion at a CAGR of 6.2% through 2022.
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Top Companies in the Global Antifungals Market: Pfizer, Novartis, Merck & Co., Bayer Healthcare, Abbott Laboratories. and Other
Markets Covered: 1) By Drug Type: Echinocandins, Azoles, Polyenes, Allylamines 2) End users: Hospitals & Clinics, Dermatology clinics, Other Users 3) By Route of Administration: Oral, Parenteral, Topical 4) By Therapeutic Indications: Aspergillosis, Dermatophytosis, Candidiasis, Others
North America was the largest region in the antifungals in 2018, followed by Europe and Asia Pacific respectively. This region is expected to remain the largest during the next five years. The antifungals in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
A point prevalence survey was conducted in Turkey, in 2018. According to the survey, antifungal drugs were mostly prescribed in pediatric hematology and oncology (PHO) units (35.2%), followed by neonatal ICUs (NICUs) (19.6%). The other units prescribing antifungal drugs included pediatric services (18.3%), pediatric ICUs (PICUs) (14.6%) and hematopoietic (HSCT) units (7.3%). According to the same survey, the antifungals were used for prophylaxis in 48.8% of patients and about 50% of patients were treated with antifungal drugs based on observation. Among 50% of patients, who were treated post observation, around 18.8% of patients were prescribed an antifungal therapy and 31.2% of patients were targeted for the treatments.
Antifungal drugs manufacturers are offering skimming price for branded drugs. The discovery, development and manufacturing processes of branded drugs generally require high investments. As a result, companies in the market offer the branded drugs at the highest initial prices, and implement other pricing strategies to ensure the product stays competitive at a high price. Price skimming is a pricing strategy in which a company charges a high initial price and then gradually lowers the price to attract more price-sensitive customers. It is used to maximize profits when a new product is introduced in the market. Manufacturers and marketers of branded drugs should consider adopting the price skimming strategy for branded drugs. They should price these branded drugs high to recover the high costs incurred during drug development and manufacturing.
Drug developers and manufacturers are scaling up the various departments such as research and development, marketing, and manufacturing through collaborations and strategic partnerships with other companies and research institutes, to expand the product portfolios. So, companies in the anti-infective drugs market should consider strategic collaborations to broaden their scope and product portfolios to increase the revenues and stay competitive in the market.
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