By 2021, Antifungal Drug Market Size Worth US 14.10 Billion: A to Z Research
Sarasota, FL -- (SBWire) -- 10/31/2017 --According to the report, the global antifungal drug market accounted for around USD 11.30 billion in 2015 and is expected to reach approximately USD 14.10 billion by 2021, growing at a CAGR of around 3.6% between 2015 and 2021.
Fungi are a diverse group of microorganisms that have modified themselves to remain alive in a wide array of environments. These environments may vary from the human body to discrete areas of nature. Fungi can produce diverse human infections ranging from superficial skin infections to internal organ invasion in the body. These viable infections usually happen due to decrease in natural human defenses/immune system or due to heavy exposure to the fungus. Selection of therapies for treating fungal infections based on the type of infection or type of fungus involved in infection. Topical/superficial infections are usually treated with topical agents whereas peripheral infection is treated with systemic therapy.
Globally, antifungal drug market has been accelerated due to the continuous rise in percentage of fungal infections specially the ringworm infection. Furthermore, lack of awareness coupled with self medication are considered as major key factors which are expected to promotes the growth of antifungal drug market. Moreover many lifestyle-related factors, such as sedentary lifestyle, eating junk food which may leads to weaken the immune system and thus promote the fungal growth. However, high penetration of conventional drugs is key restraining factor for the growth of anti-fungal drug market. Nonetheless, ongoing research and development in prevention and treatment of fungal infection like to bring growth avenues nearby future.
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Based on drug type, the global market of antifungal drug is bifurcated into five types: echinocandins, azoles, ployenes, allylamines and others. Azoles are systemically acting antifungal drug which include fluconazole, itraconazole, ketoconazole, posaconazole and voriconazole. The echinocandins are lipopeptides derived from natural fungal fermentation products. They include anidulafungin, caspofungin and micafungin. Azole derivative was the leading derivatives in term of generating revenue in 2015 and this growth is expected to continue within the forecast period. The growth is attributed due to effective price and fungicidal properties of azole derivatives like ketokonazole, itaconazole etc.
Based on therapeutic indication, the global market of antifungal drug is bifurcated into four types: aspergillosis, dermatophytosis, candidiasis and others. The most commonly encountered fungal infections are those that affect the skin layers. Approximately 1-2% of the world's population is affected by dermatophytoses (superficial fungal infections of the skin). Seborric dermatisis, ringworm infection, jock itch are the examples of various topical fungal infections.
Based on dosage form, the global market of antifungal drug is bifurcated into four types: powders, ointments, drugs and pastes. Over the counter antifungal drugs like clo-trimoxazole (sulphamethoxazole + trimethoprim) are available in powder, ointment form and can be easily obtained without doctor/physician prescriptions. Whereas, majority of the oral antifungal drugs are prescription based medicines and are available in various dosage forms such as tablets, capsules and suspensions. Powder, ointment is covering approximately more than 55% of antifungal drug market.
Based on geographies, the global market of antifungal drug is bifurcated into five types: North America, Europe, Asia Pacific, Latin America and Middle East and Africa. These segments are further bifurcated into the U.S., UK, Germany, France, China, Japan, India and Brazil. North America accounted for the largest share of the global antifungal market, followed by Europe. This growth is attributed due to rising awareness related to health care in this region. Moreover, antifungal drug market has huge opportunity in the emerging markets of Asia Pacific region due to increasing standard of living, large pool of patient in this region. The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period, due to the rising incidence of fungal infection, increasing government support and growing upper middle-class population and rise in disposable income level in this region. Understanding the rising episodes of fungal infections in the country, the government employed various measures on its own including public private partnership (PPP). This development is largely responsible for propelling the Indian market of antifungal drug.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global antifungal drug market include Asperqillus, Alternaria, Abbott Laboratories, Pfizer, Glaxosmithkline, Bayer Healthcare, Novartis, Sanofi-Aventis, Merck & Co., Kramer Laboratories, Enzon Pharmaceuticals, and Gilead.
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