The Global Antifungal Drugs Market was worth $12.15 billion in 2016 and estimated to be growing at a CAGR of 3.68%, to reach $14.56 billion by 2021. The market is expected to grow enormously in the next few years, with the growing global population.
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Antifungal drugs are used to cure fungal infections, which occur due to, unclean, unhygienic and damp environment. Fungal infections are caused by microscopic organisms invading epithelial tissue. Systemic fungal infections are usually caused by the indigestion or inhalation of fungus spores and cause fungal pneumonia and opportunistic fungus causes diseases such as candidaisis, meningitis, mucormycosis and some others. Though most of the fungal infections and diseases are non-lethal, they are very uncomfortable to live with and their common occurrence is responsible for the emerging antifungal drugs market. Antifungal drugs work using various mechanisms such as by inhibiting cell wall formation, cell membrane disruption and cell division.
The major factors driving the market are increasing awareness of fungal infections with the growing incidence of antifungal infections all over the world, increasing government and corporate funding in the industry. Further, the development of public private partnership in the pharmaceutical industry and the rising popularity of over-the-counter antifungal drugs for dermal infections is responsible for the growing antifungal drugs market size. Also, the rise in population with weak immune system due to cancer chemotherapy or acquired immunodeficiency syndrome, in whom the occurrence of fungal infections is much more than average, will drive the market. High penetration of conventional drugs used for the treatment of fungal infections is restraining the market growth. The key challenges faced by the market are cost of drugs and their effectiveness in treatments.
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The global antifungal drugs market is segmented based on drug type into Echinocandins, Azoles, Polyenes, Allylamines and Other Drugs. Also, the market is segmented by type of therapeutic indications into Aspergillosis, Dermatophytosis, Candidiasis and Other therapeutic indications. And the market is also segmented by applications into Powders, Ointments, Drugs, Pastes. While Azoles
(fluconazole, itraconazole, ketoconazole, posaconazole and voriconazole) are systemically acting, Echinocandins (anidulafungin, caspofungin and micafungin) are lipopeptides derived from natural fungal fermentation products and Polyenes (amphotericin B deoxycholate and liposomal amphotericin B Corifungin) are systemically acting and disrupt eukaryotic cellular membranes. Azoles antifungal drug market is the largest segment of the market followed by echinocandins antifungal drug market.
On the basis of geography, the global market is analysed under regions namely North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America and Europe together contribute to major share of the global antifungal drugs market, while the market in Asia-Pacific is the fastest growing followed by Latin America.
Some of the major companies dominating the market, include Alternaria, Pfizer, Novartis, Sanofi-Aventis, Merck & Co., Asperqillus, Kramer Laboratories, Bayer Healthcare, Enzon Pharmaceuticals, Glaxosmithkline Gilead and Abbott Laboratories.
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