Antifungal Drugs Market Worth ($13.99 Billion by 2028) at 3.3% CAGR – Global Analysis by Therapeutic Indication (Aspergillosis, Dermatophytosis, Candidiasis)

The global antifungal drugs market demand is influenced by rising prevalence of fungal infections; increasing incidences of cancers, HIV, and hospital-acquired infections and favourable government initiatives to combat the antifungal diseases.

New York, March 08, 2023 (GLOBE NEWSWIRE) -- Latest Research Report by The Insight Partners, “Antifungal Drugs Market Size, Share, Growth, Value and Global Forecast to 2028 - Global Analysis by Infection Type (Superficial Fungal Infection and Systemic Fungal Infection), Drug Type (Echinocandins, Azoles, Polyenes, Allylamines, and Others), Therapeutic Indication (Aspergillosis, Dermatophytosis, Candidiasis, and Others), and Dosage Form (Drugs, Ointment, Powder, and Others)”, the global antifungal drugs market size is estimated to grow at a CAGR of 3.3% from 2022 to 2028, it is expected to grow from USD 11.13 billion in 2021 to USD 13.99 billion in 2028.

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Global Antifungal Drugs Market – Report Scope:

Market Size Value in USD 11.13 Billion in 2021
Market Size Value by USD 13.99 Billion in 2028
Growth rate CAGR of 3.3% from 2022 to 2028
Forecast Period 2022-2028
Base Year 2021
No. of Pages 169
No. of Tables 95
No. of Charts & Figures 70
Historical data available Yes
Segments covered Infection Type, Drug Type, Therapeutic Indication, and Dosage Form

Global Antifungal Drugs Market: Competitive Landscape and Key Developments

The antifungal drugs market includes many small and large companies. Market players are adopting various strategies to increase their market shares; these include new product launches, regional expansion, and technological advancements.

Pfizer Inc.; Sanofi S.A.; Gilead Sciences, Inc.; Merck And Co., Inc.; Scynexis Inc.; Novartis International AG; Abbott Laboratories; Bayer AG; Glenmark Pharmaceutical; and Glaxosmithkline Plc. are among the leading companies operating in the global antifungal drugs market. The companies adopt product innovation strategies to meet the rising customer demands globally, allowing them to maintain their brand presence in the global antifungal drugs market.

A few of the recent developments by the market players in the antifungal drugs market are mentioned below:

In December 2018, the US FDA approved Mayne Pharma’s SUBA-itraconazole (Tolsura), which is used for the treatment of certain systemic fungal infections. Itraconazole can be used to treat  both superficial infections, as well as systemic fungal infections of the major organs and is considered as one of the broadest spectrum antifungal drugs.

In September 2018, Aurobindo acquired a generic dermatology portfolio of Novartis US which is likely to include a wide range of therapeutic areas, including topical antibiotics, gynecological and dermatological antifungal agents, anti-acne agents, local anesthetic analgesics, anti-itch, and a dermatological chemotherapeutic agent.

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Public-Private Partnerships Agreements in Pharmaceutical Industry to Drive Global Antifungal Drugs Market Growth:

The recent public-private partnerships (PPPs) agreements in the pharmaceutical industry to develop new and advanced therapeutics are anticipated to offer remarkable growth opportunities for the antifungal drugs market. Various companies and organizations are working on developing advanced pharmaceutical drugs. For instance, in July 2016, CARB-X, a public-private partnership, announced its plan to provide approximately US$ 350 million for the next five years to increase the R&D pipeline. The partners involved in the agreement are the US Department of Health and Human Services, the Antimicrobial Resistance Centre in England, and the Boston University School of Law. In addition, PPPs are multiple stakeholder partnerships developed to increase research efficiency. More recently, in Europe, the number of PPPs have been increased in the healthcare research and development. They enable innovative technologies for validation & animal models, therapeutic target finding, lead selection & in-silico modeling, analytical drug disposition & toxicology, biomarkers & bio-sensoring, drug preparation, and delivery & targeting. Thus, the antifungal drugs market is likely to grow due to increasing revolutionary technologies, innovative products, and successful partnerships between public and private companies during the forecast period.

Antifungal drugs are used for treating common fungal infections such as fungal nail infections and vaginal infections that appear on the external surface of the body and other fungal invasive infections that occur inside the tissue of the body or in an internal organ such as the lungs and brains. It works against the fungal infection by either killing the fungal cells or constraining their growth. 

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