Antimycotic drugs are another name for antifungal drugs. As a pharmaceutical fungicide or fungistatic, it is employed in the treatment and prevention of mycoses such athlete’s foot, ringworm, and candidiasis (thrush), as well as more severe systemic infections like cryptococcal meningitis. In most cases, a prescription is required to receive these medications (over-the-counter). Systemic and topical antifungal medications are both readily available. Systemic antifungals are taken orally or intravenously, while local antifungals are applied topically or vaginally, as needed. Drugs like ketoconazole,fluconazole, itraconazole, fosfluconazole, posaconazole, isavuconazole, voriconazole, and so on are all examples of anti-fungal agents that can be given systemically.
Global Antifungal Drugs Market – Impact of the Coronavirus (COVID-19) Pandemic
During the forecast period, the global market for antifungal growth drugs is expected to grow at a slower rate than normal due to the COVID-19 pandemic. The new coronavirus’s rapid proliferation has stifled development in the healthcare sector. Authorities in Wuhan City, China, reported a rash of pneumonia cases in December 2019. One novel coronavirus, designated COVID-19, was found to be the underlying cause of the pneumonia outbreak. Many people died as this virus quickly circled the globe. The World Health Organization (WHO) designated COVID-19 a global pandemic in March 2020 and recommended implementing stringent measures to curb the disease’s spread. Since then, the pandemic has slowed expansion in the healthcare sector and caused a disruption in the supply chain.
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In addition, several countries’ governments have ordered nationwide lockdowns in an effort to halt the spread of COVID-19. In a similar vein, healthcare providers in many parts of the world are having trouble maintaining their supply chains. Supply chain bottlenecks have also stymied expansion in the international antifungal drugs industry.
We anticipate a 3.1% CAGR for the worldwide antifungal drugs market between 2016 and 2021, bringing the total market value to an anticipated US$ 13.1 Billion in 2021. (2021-2030).
The global market for antifungal medications is predicted to expand during the forecast period as a result of rising R&D spending by industry participants to create innovative new products.
Over the projection period, the worldwide antifungal drugs market is predicted to expand as market participants engage in clinical studies for the development of antifungal drugs. Pfizer, Inc., for one, is conducting clinical trials on isavuconazole sulphate to evaluate its efficacy, safety, and optimal dosing in the therapy of individuals with mucormycosis and invasive aspergillosis. Phase II of the experiment is now underway, with completion anticipated on May 26, 2022.
The antifungal medications market is projected to expand as a result of rising product launches by key players
Many major market participants are putting their R&D efforts into developing novel treatments to treat fungal infections. As a result, the market is likely to expand at a faster rate than anticipated. For example, in 2019, the Hyderabad, India-based pharmaceutical company Hetero Healthcare Ltd. released the antifungal medicine GOCAN I.V. Fluconazole for treating including both systemic and superficial fungal infections.
Cresemba, an antifungal medication made by Pfizer Inc., was introduced to the Spanish market in 2017 through collaboration with Basilea Pharmaceutical. Pfizer Inc. marketed this medicine in significant European Union (EU) markets and Austria.
Antifungal medicines market growth is anticipated to be boosted by market participants’ efforts to introduce generic pharmaceuticals for treating of fungal infections
Further fueling this industry is the introduction of generic medications for treating fungal infections. Ajanta Pharma, for example, introduced voriconazole pills (50 mg and 200 mg dosage) to the American market in 2016. The antifungal pill Vfend, made by Pfizer, has a generic version in voriconazole tablets.
Global Antifungal Drugs Market – Restraints
The government’s strict controls are anticipated to slow the market’s expansion. Antibacterial and antifungal drug approval guidelines were issued by the U.S. Food and Drug Administration in 2020. Antibacterial and antifungal drugs can only be approved by the U.S. Food and Drug Administration for the treatment of serious, life-threatening infections in a small subset of patients with unmet needs.
The rising frequency with which pharmaceutical products are being recalled is also anticipated to slow the development of this market. For instance, due to FDA enforcement actions, in August of 2020, Pharmaceutical Associates Inc. recalled 7,416 bottles of nystatin oral suspension. The recall has been classified by the U.S. FDA as Class II, which means that consumers should stop using the recalled product immediately despite the fact that it may have some negative health effects, but that these effects should be short-lived and treatable by a doctor.
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Global Antifungal Drugs Market – Regional Analysis
North America, Europe, Latin America, Asia-Pacific, the Middle East, and Africa are the geographical sub segments of the worldwide antifungal medicines market.
As antifungal pharmaceuticals used to treat fungal infections have been granted priority review status in the United States, the market for these medications in North America is poised for rapid expansion. Examples include Scynexis Inc., whose application for its vaginal yeast infection treatment ibrexafungerp was accepted by the U.S. Food and Drug Administration and granted priority review status on December 7, 2020. The U.S. Food and Drug Administration also granted the medicine fast-track and qualified infectious disease product (QIDP) classification.
Antifungal Drugs Market Report Coverage:
|The market size value in 2023||US$ 13.1 Bn|
|The revenue forecast in 2030||US$ 16.2 Bn|
|Growth Rate||CAGR of 3.1% from 2023 to 2030|
|The base year for estimation||2022|
|Historical data||2017 – 2021|
|Forecast period||2023 – 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||By Drug Type: Echinocandins, Polyenes, Allylamines, Azoles, Others
By Indication: Aspergillosis, Dermatophytosis, Candidiasis, Mucormycosis, Others
By Dosage Form: Powders, Ointments, Drugs, thers
|Growth Drivers||Receiving priority review status from the regulatory authorities
Increasing research and development activities by the market players
Increasing launches of antifungal drugs by the market players
Availability of generic antifungal drugs
|Restraints & Challenges||Stringent government regulations for antifungal drugs
Increasing drug recall rates
The global antifungal pharmaceuticals market is projected to expand over the forecast period, helped along by the rising number of studies investigating innovative antifungal medications. Recently, a compound called alexidine dihydrochloride was discovered to have potent antifungal and anti-biofilm activity against a wide variety of fungal pathogens, suggesting that it may one day be developed into a pan-antifungal drug by researchers at the American Society for Microbiology in October 2018.
Global Antifungal Drugs Market – Competitive Landscape
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. are all major competitors in the global antifungal medications market.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Antifungal Drugs Market Size Analysis from 2023 to 2030
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 (2017-2021)
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 (2023-2030)
Chapter 16 Conclusions
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