The global antifungal drugs market size was USD 11.93 Billion in 2022 and is expected to register a revenue CAGR of 1.4% during the forecast period. Key factors driving global market revenue growth include increasing incidence of mucormycosis, candidiasis, and dermatophytosis, aspergillosis across all age groups worldwide, rising awareness about fungal infections, and increasing demand for over-the-counter drugs.
Fungal infections are one of the major burdens of skin diseases across the globe. In humans, fungal infections occur when an invading fungus takes over a part of the body. Fungus can enter human body through inhalation. Fungal infections can occur due to unhealthy and unhygienic lifestyles, moist or warm environment, or low immune system. Although fungal infections are mostly non-fatal, they can cause major inconvenience.
Fungal infections are commonly seen on folds of skin, feet, fingers, groin, or lungs. These infections are also seen in mucous membranes of the mouth or vagina. Over the years, rapidly changing climatic conditions, high prevalence of infectious diseases, increasing geriatric population, and rising adoption of immunosuppressive agents, prosthetic grafts, and devices have resulted in high prevalence of fungal infections. Some common fungal infections include athlete’s foot, ringworm, jock itch, cutaneous candidiasis, and onychomycosis among others.
To cater to rising cases of fungal infections, various market players and leading companies are launching novel and effective antifungal drugs. These drugs are widely used to treat and limit the spread of various fungal infections affecting skin, hair, and nails. The most common mode of action of antifungal drugs is the disruption of the cell membrane of the fungus. These drugs are available in various forms, such as creams, liquid or spray, shampoo, gels, injections, and pills.
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Though antifungal drugs are widely used for skin diseases and fungal infections, there has been an increase in risk of possible minor side effects, such as itching, nausea, redness, rashes, abdominal pain, diarrhea, or adverse effects such as hepatotoxicity, nephrotoxicity, hypokalemia, hyponatremia, or oligospermia. As a result, various market players are investing and focusing on developing enhanced and cost-effective antifungal formulations and medications to address increasing concerns about side effects.
Market Dynamics:
Drivers: Increasing investments in research and development activities and high focus on using nanotechnology for formulating advanced drugs
Antifungal drugs are rapidly gaining traction over the years owing to increasing prevalence of various fungal infections across the globe, rising incidence of hospital-acquired infections, and growing awareness about personal hygiene. Increasing disposable income, improving healthcare infrastructure, availability of various antifungal drugs, and rising focus on using nanotechnology for formulating advanced drugs are some key factors fueling global market growth. Demand for antifungal drugs is also increasing amidst COVID-19 pandemic, as people infected with COVID-19 are at high risk of acquiring mucormycosis. Further, increasing investments in research and development activities, availability of well-trained healthcare practitioners for treating complicated infections, rising funds for research by public and private organizations, and availability of geriatric drugs are expected to fuel global market growth.
Restraints: Increasing resistance against many antifungal formulations and growing numbers of drug recalls
Various medical practitioners, especially in developing countries, offer conventional drug treatment which can lead to complications and adverse effects. In addition to this, there has been rising incidence of resistance against various antifungal formulations. These factors are expected to hamper overall market growth to a certain limit over the forecast period. Other factors such as availability of expensive medicines and counterfeit drugs, strict government regulations, and increasing numbers of drug/product recalls are expected to negatively impact revenue growth of the global antifungal drugs market in the coming years.
Key Takeaways:
Drug Class Outlook:
Based on drug class, the global market is broadly segmented into azoles, echinocandins, polyenes, and allylamines. Azoles are further segmented into voriconazole, posaconazole, clotrimazole, and isavuconazole, while echinocandins are segmented into caspofungin, micafungin, and others. On the other hand, polyenes are segmented into amphotericin b, candicidin, hamycin, natamycin, and others.
The azoles segment is expected to account for significantly larger revenue share over the forecast period owing to increasing prevalence of various fungal infections, high preference for azoles for treating systemic fungal infections, such as blastomycosis, candidiasis, coccidioidomycosis, mucormycosis among others, and ongoing research on azole compounds. Azole-derived compounds are highly preferred due to properties such as high chemical stability, a broad spectrum of action, and oral bioavailability.
Route of Administration Outlook:
The global market is segmented into oral, topical, and parenteral based on the route of administration. The topical segment is expected to account for largest revenue share over the forecast period owing to high preference for topical drugs, easy application, fewer side effects and targeted therapy, availability of many approved topical anti-fungal drugs, and growing investments for increasing production and development of more effective topical drugs. Topical delivery of antifungal drugs is the most preferred route against many skin dermatophytes due to direct access, comparatively high retention rate at the target, and also reduced systemic toxicity. Drugs such as itraconazole and clotrimazole are commonly used for topical administration in the form of gels and creams, which helps in site-specific drug delivery, better patient compliance, as well as bioavailability.
Indication Outlook:
Based on indication, the global market is segmented into candidiasis, dermatophytosis, aspergillosis, and others. The dermatophytosis segment is expected to account for significantly larger revenue share between 2021 and 2028 owing to increasing prevalence of fungal infections in children, high risks of acquiring dermatophytosis infections due to unhygienic and unhealthy lifestyle, and availability of advanced treatments and non-prescription antifungal creams, powders, and lotions.
Distribution Channel Outlook:
Based on distribution channels, the global market is segmented into hospital pharmacies, specialty clinics, retail pharmacies, and online pharmacies. Among these, the hospital pharmacies segment is projected to account for largest revenue share over the forecast period owing to increasing prevalence of various fungal infections, rising hospital visits for skin-related treatments and consultations, increasing numbers of prescription drugs, improving healthcare infrastructure, and availability of various antifungal creams, lotions, and powders in hospital pharmacies.
Regional Outlook:
Geographically, the North American market accounted for largest revenue share in 2022 and is expected to continue its leading position in the global market over the forecast period. This can be attributed to factors such as increasing prevalence of fungal infections and fungal diseases across the region, rising investments in research and development activities, growing number of drug approvals, and presence of well-developed healthcare systems, research centers, and treatment facilities. Other factors such as high prevalence of various chronic diseases, availability of better treatment for fungal diseases and infections, increasing awareness about fungal infection detection tests, ongoing research on developing more effective antifungal creams, lotions, and drugs are expected to fuel growth of the North American market.
The market in Asia Pacific is expected to register a revenue CAGR of 1.9% during the forecast period owing to rising cases of fungal infections, government initiatives to increase awareness about fungal infections, improving healthcare infrastructure, and growing investments in research and development activities. Further, rising numbers of pharmaceutical companies, increasing geriatric population, growing adoption of latest treatment facilities, and rising disposable income are also expected to fuel Asia-Pacific antifungal drugs market growth over the forecast period.
Competitive Landscape:
The global antifungal drugs market is quite competitive and comprises key players at global and regional levels. Major players in the market are focused on product development, and they are adopting various strategies such as mergers and acquisitions, partnerships, license agreements, joint ventures, and collaborations to expand their product base and strengthen their market position.
Abbott Laboratories, Pfizer, Inc., Novartis AG, Merck & Co., Inc., Sanofi-Aventis, Bayer AG, Enzon Pharmaceuticals, Inc., GlaxoSmithKline Plc, Astellas Pharma, Inc., Gilead Sciences, Inc., Leadiant Biosciences, Inc., Sigma-Aldrich, Glenmark Pharmaceuticals, Sun Pharmaceutical Industries Ltd., Mylan N.V, Maan Medex Private Ltd., Lifevision Healthcare, and Medico Remedies Limited are key companies profiled in the global antifungal drugs market report.
Strategic Developments:
- In April 2021, Pfizer Inc., announced the acquisition of Amplyx Pharmaceuticals, Inc., a firm involved in developing therapies for debilitating and life-threatening diseases. Amplyx’s Fosmanogepix is a novel drug in phase 2 clinical trials where it is being evaluated for efficacy and safety of oral as well as intravenous formulations for treating patients with life-threatening fungal infections. In addition to this acquisition, Pfizer has also secured ownership over Amplyx’s early-stage pipeline for antifungal and antiviral therapies.
Pipeline Analysis:
Astellas Pharma, Inc., announced US FDA approval for supplemental new drug application (sNDA) for Mycamine for treatment of Candidemia, candida peritonitis, and acute disseminated candidiasis in pediatric patients below 4 months of age. Mycamine was earlier approved for adults and children above 4 months in 2005 and 2013 respectively. This drug is the first drug approved for invasive candidiasis in children younger than 4 months.
In June 2021, Mankind Pharma launched a novel product, Posaforce 100, Posaconazole Gastro-resistant tablets to cater to rising prevalence of black fungus (mucormycosis) in India amidst coronavirus outbreak. The formulation has received approval from the Drug Controller General of India (DCGI) and the US FDA and is highly recommended by ICMR and AIIMS to treat mucormycosis.
Segments Covered in the report
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides an analysis of market trends in each sub-segment from 2022 to 2030. For the purpose of this report, Reports and Data has segmented the global antifungal drugs market on the basis of drug class, route of administration, indication, distribution channel, and region:
Antifungal Drugs Market Report Scope
Segments covered By Drug Class Outlook, Route of Administration Outlook, TIndication Outlook ,Distribution Channel Outlook, Regional Outlook
By Drug Class Outlook
Azoles
Voriconazole
Posaconazole
Clotrimazole
Isavuconazole
Others
Echinocandins
Caspofungin
Micafungin
Others
Polyenes
Amphotericin B
Candicidin
Hamycin
Natamycin
Others
Allylamines
Terbinafine
Others
Others
By Route of Administration Outlook
Oral
Topical
Parenteral
By Indication Outlook
Candidiasis
Invasive Candidiasis
Vulvovaginal Candidiasis (VVC)
Mouth/Throat/Esophageal Candidiasis
Others
Dermatophytosis
Aspergillosis
Others
By Distribution Channel Outlook
Hospitals Pharmacies
Specialty Clinics
Retail Pharmacies
Online Pharmacies
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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