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Aantifungal drugs market
Global Antifungal Drugs Market generated $16.6 billion in 2020, and is projected to reach $25.0 billion by 2030, witnessing a CAGR of 3.9% from 2021 to 2030.
Rise in prevalence of chronic diseases such as diabetes, which causes fungal infection are expected to notably contribute toward the growth of the anti-fungal drugs market during the forecast period.” — Onkar Sumant
PORTLAND, OREGON, UNITED STATES, July 21, 2022 /EINPresswire.com / -- According to the report, the Antifungal drugs market size was valued at $16.6 billion in 2020, and is estimated to reach $25.0 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Antifungal drugs are medications that selectively eliminate fungal infections from the host. These fungal agents multiply by spreading spores that subsequently lead to infection on skin, hairs, vagina, and other body parts. The fungal infection causes candidiasis, fungal pneumonia, mucormycosis, and other diseases. The antifungal drugs market is continuously growing and evolving owing to robust developmental efforts made by researchers and market players in the field.
The surge in prevalence of fungal infections worldwide, increase in knowledge of myriad fungal infections among populace, and rise in government funds to tackle antifungal diseases drive the growth of the global antifungal drugs market. Additionally, expiration of existing patents and rise in funding from public & private organizations would provide lucrative opportunities to emerging market players in the near future. However, growth in population that possess antifungal drug resistance and side-effects associated with antifungal drugs hamper market growth.
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Rise in incidences of fungal and nosocomial infections, surge in initiatives by public and private organizations to spread awareness about myriad of fungal infections, and growth in prevalence of fungal infections such as aspergillosis and candidiasis drive the growth of the global antifungal drugs market. Furthermore, upsurge in number of drug approvals provide lucrative opportunities for the expansion of the global anti-fungal drugs market during the forecast period.
COVID-19 scenario:
The outbreak of the COVID-19 pandemic led to have a positive impact on the growth of the global antifungal drugs market.
India contributed to approximately 71% of the global cases of mucormycosis in patients with COVID-19. Rise in cases of mucormycosis infectious disease had increased the usage of anti-fungal drugs.
The report offers detailed segmentation of the global antifungal drugs market based on drug class, infection type, therapeutic indications, dosage forms, and region.
Moreover, development of pharmaceutical industries and improvement in healthcare spending are anticipated to drive the growth of the anti-fungal drugs market. In addition, Fungal Genetic Resource of India (FUNGEN) was engaged in training graduate student mycologists in colleges and universities in isolation techniques, and operating on a crowdsourcing model with“mini-collections” developed at participating centers to provide awareness about fungus, the diseases caused by them, and the treatments. Hence, such robust initiatives taken by nongovernmental organizations are expected to fuel the market growth.
Asia-Pacific to grow at the fastest rate through 2030
Asia-Pacific is expected to register the highest growth rate of 4.5% CAGR throughout the forecast period, owing to the presence of countries with a high populace base, such as India and China, where the antifungal drug usage rate is on a rise due to the growing awareness about fungal infections among the common people and high prevalence of diseases.
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Leading players of the global antifungal drugs market analyzed in the research include Pfizer Inc., Sanofi S.A., Gilead Sciences Inc., Merck & Co. Inc, Novartis AG, Abbott Laboratories., GlaxosmithKlinePlc, AstellasPharma Inc., Johnson & Johnson, and MerzPharma.
We also Offers Regional and Country Reports-
Japan Antifungal Drugs Market
South Korea Antifungal Drugs Market
Singapore Antifungal Drugs Market
China Antifungal Drugs Market
Indonesia Antifungal Drugs Market
Australia Antifungal Drugs Market
Taiwan Antifungal Drugs Market
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