Antifungal Drugs Market Size
As per the report published by Market Data Forecast, the size of the global antifungal drugs market is forecasted to worth USD 15.65 Billion by the end of 2025, registering a CAGR of 3.68% between 2020 to 2025.
Key Market Drivers:
Focus on developing generic and innovative drugs by key players is certainly a major factor for the market to grow extensively. An increasing number of infectious diseases such as mucormycosis is accelerating the demand for the antifungal drugs market. Increasing spending on healthcare is also enhancing the growth rate of the market. The increasing number of patients visits hospitals with various diseases is greatly influencing the market demand. Besides, the adoption of sedentary lifestyles and changes in food habits are also a cause for weak immunity among people. Infectious diseases affect more on immunity, fewer people where this is leveling up the growth rate of the market. The increasing prevalence of HIV/AIDS in undeveloped countries due to lack of knowledge is also leveraging the demand of the antifungal drugs market.
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Significant Challenges:
However, people in rural areas are less aware of the treatment procedures available, which is slowly impeding the growth rate of the market. The increasing cost of the raw materials and availability of similar products at a lower price is impeding the growth rate of the antifungal drugs market.
COVID-19 Impact on antifungal drugs market:
The coronavirus, which affects the respiratory system, also causes other fungal infections in persons with a weak immunity system. There are several trials going on to develop a vaccine or drug to treat this novel coronavirus disease. Few scientists are doing research on antifungal drugs to eradicate the other infections caused by COVID 19. The patients with coronavirus are at high risk of developing several fungal diseases. Several individuals have already been diagnosed with these infections in China earlier. COVID-19 has shown a positive impact on the antifungal drugs market.
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This market research report on the global antifungal drugs market has been segmented and sub-segmented based on drug type, therapeutic indications, application, and region.
By Drug Type:
- Echinocandins
- Azoles
- Polyenes
- Allylamines
- Others
By Therapeutic Indications:
- Aspergillosis
- Dermatophytosis
- Candidiasis
- Others
By Application:
- Powders
- Ointments
- Drugs
- Pastes
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
In North America, the antifungal drugs market has the highest shares from recent years and is also to continue the same in the coming years. Quick adoption of the latest technologies in the pharmaceutical companies and ongoing research in the development of innovative drugs are propelling the growth rate of the market in this region. Also, rising disposable income is elevating the demand of the market. Following North America, Europe is next to hold the largest shares of the market. The partnership between public and private organizations in order to develop new products and favorable reimbursement policies is sole to leverage the growth rate of the market. Creating awareness over the use of sprays, creams, and lotions is also a factor boosting up the demand of the market.
The Asia Pacific is expected to register highest growth rate among all regions during the forecast period, owing to the increasing geriatric population. The emergence of e-commerce and the easy availability of the products in online stores are ascribed to bolster the demand of the market. Besides, growing demand for over the counter drugs in many areas is escalating the growth rate of the market.
NOTABLE COMPANIES IN THIS MARKET
Key market participants dominating the global antifungal drugs market analyzed in this report are Gilead Sciences, Inc., Pfizer Inc., Sanofi S.A., Merck & Co., Inc., Novartis International AG, Abbott Laboratories, Bayer AG, Scynexis Inc., Enzon Pharmaceuticals, Inc., and GlaxoSmithKline Plc.
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List of Tables and Figures of the report:
- Global Antifungal Drugs Market, By Region, From 2020 to 2025 (USD Million)
- Global Antifungal Drugs Market, By Drug Type, From 2020 to 2025 (USD Million)
- Global Echinocandins Market, By Region, From 2020 to 2025 (USD Million)
- Global Azoles Market, By Region, From 2020 to 2025 (USD Million)
- Global Polyenes Market, By Region, From 2020 to 2025 (USD Million)
- Global Allylamines Market, By Region, From 2020 to 2025 (USD Million)
- Global Other Drugs Market, By Region, From 2020 to 2025 (USD Million)
- Global Antifungal Drugs Market, By Therapeutic Indications, From 2020 to 2025 (USD Million)
- Global Aspergillosis Market, By Region, From 2020 to 2025 (USD Million)
- Global Dermatophytosis Market, By Region, From 2020 to 2025 (USD Million)
- Global Candidiasis Market, By Region, From 2020 to 2025 (USD Million)
- Global Other Therapeutic Indications Market, By Region, From 2020 to 2025 (USD Million)
- Global Antifungal Drugs Market, By Application, From 2020 to 2025 (USD Million)
- Global Powders Market, By Region, From 2020 to 2025 (USD Million)
- Global Ointments Market, By Region, From 2020 to 2025 (USD Million)
- Global Drugs Market, By Region, From 2020 to 2025 (USD Million)
- Global Pastes Market, By Region, From 2020 to 2025 (USD Million)
- 140+ More
Browse Regional Reports:
- North America Antifungal Drugs Market
- Europe Antifungal Drugs Market
- Asia Pacific Antifungal Drugs Market
- Latin America Antifungal Drugs Market
- Middle East and Africa Antifungal Drugs Market
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