Continues research and development activities among key companies for innovation of novel products is expected to propel the global anti-fungal drugs market growth over the forecast period. For instance, Pfizer, Inc., is currently conducting clinical trial study for the effectiveness of Cresemba (isavuconazonium sulfate) (capsule and intravenous (IV)). In patients with invasive Aspergillosis and invasive Mucormycosis in South Korea during the post-marketing surveillance period of Cresemba, as required by Ministry of Food and Drug Safety (MFDS).
The global antifungal drugs market is estimated to be valued at US$ 13.1 Bn in 2021 and is expected to exhibit a CAGR of 3.1% over the forecast period (2022-2028).
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Moreover, key companies are adopting inorganic strategies such as mergers & acquisitions, which in turn, is expected to boost the global anti-fungal drugs market growth in the near future. For instance, in 2019, Appili Therapeutics Inc., a biopharmaceutical company focused on anti-infective drug development, signed an agreement with FUJIFILM Toyama Chemical Co., Ltd., a company headquartered in Japan, to acquire and develop the novel antifungal drug T-2307, which will now be called ATI-2307. This drug candidate is a novel broad-spectrum antifungal agent that has been evaluated in multiple preclinical studies and three human (Phase I) clinical trials.
Impact of COVID-19 Pandemic
The COVID-19 pandemic is expected to limit the growth of the global anti-fungal drugs market over the forecast period. The outbreak of COVID-19 has created challenges for several industries and markets worldwide. In the short term, the pharmaceutical companies, healthcare institutions, pharmaceutical distribution and retail sectors have faced negative impact of COVID-19 spread. According World Health Organization, in December 2019, the manifestation of coronavirus disease (COVID-19) has resulted in more than 4.8 million new cases and nearly 86 000 new deaths worldwide as of 18th May 2021. The COVID-19 pandemic has affected the global economy in three main ways; by directly affecting production and demand, by negatively impacting the supply chain and causing market disruption, and through its financial impact on firms and financial markets. This negative economic impact of COVID-19 is expected to hamper growth of various pharmaceutical markets, which includes the anti-fungal drugs market.
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Moreover, severe economic crisis and broken supply chain acts as a major issue faced by players operating in the antifungal drug market across globe. As a result, the global anti-fungal drugs market growth is also expected to witness a slowdown till the pandemic comes under control.
Major companies are laying gaining product approvals from regulatory authorities, in order to expand their product portfolio. For instance, in February 2018, Insmed, Inc., a biopharmaceutical company, received the U.S. Food and Drugs Administration (FDA) approval for a new drug called Arikayce (Amikacin liposome inhalation suspension), which was approved by the U.S. FDA as it satisfies the limited population pathway for antibacterial and antifungal drugs program.
Key Takeaways
The global anti-fungal drugs market is expected to exhibit a CAGR of 3.1% over the forecast period (2022-2028), owing to growth in potential markets, especially in Europe. However, North America region is accounted for the major share in this market.
Market players are focused on new antifungal drugs, which in turn, is expected to accelerate- growth of the antifungal drugs market over the forecast period. For instance, in 2018, Hansoh Pharma launched an Echinocandin antifungal drug, Hengsen (micafungin sodium for injection).
Key companies operating in the global antifungal drugs market include companies like GlaxoSmithKline Plc, Bayer AG, Abbott Laboratories, Merck & Co., Inc, Glenmark Pharmaceuticals Limited, Enzon Pharmaceuticals, Inc., Pfizer Inc., Gilead Sciences, Inc., Sanofi S.A., and Astellas Pharma, Inc.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Antifungal Drugs Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Antifungal Drugs Industry Impact
Chapter 2 Global Antifungal Drugs Competition by Types, Applications, and Top Regions and Countries
2.1 Global Antifungal Drugs (Volume and Value) by Type
2.3 Global Antifungal Drugs (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Antifungal Drugs Sales, Consumption, Export, Import by Regions
Chapter 5 North America Antifungal Drugs Market Analysis
Chapter 6 East Asia Antifungal Drugs Market Analysis
Chapter 7 Europe Antifungal Drugs Market Analysis
Chapter 8 South Asia Antifungal Drugs Market Analysis
Chapter 9 Southeast Asia Antifungal Drugs Market Analysis
Chapter 10 Middle East Antifungal Drugs Market Analysis
Chapter 11 Africa Antifungal Drugs Market Analysis
Chapter 12 Oceania Antifungal Drugs Market Analysis
Chapter 13 South America Antifungal Drugs Market Analysis
Chapter 14 Company Profiles and Key Figures in Antifungal Drugs Business
Chapter 15 Global Antifungal Drugs Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology….
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