New York, US, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Antifungal Treatment Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Antifungal Treatment Market Information By Drugs Class, Therapeutic Indication, Pathogen, End Users, and Region - Forecast Till 2027”, the market to reach USD 25,764.67 million by 2027 at a CAGR of 6.35%.
Market Scope:
The Antifungal treatment comprises a variety of products, including azoles and echinocandins. The operational efficiency of Antifungal business units depends on the sourcing, manufacturing, and marketing of products. Ongoing technological advancements, government regulations, and consumer preferences affect the lucrativeness of the Antifungal treatment market.
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Competitive Landscape:
The promising contenders in the ani fungal treatment market are
- Pfizer Inc. (U.S.)
- Astellas Pharma Ltd. (Japan)
- Novartis International AG (Switzerland)
- Sanofi S.A. (France)
- Merck KGaA (Germany)
- Bayer AG (Germany)
- Abbott Laboratories (U.S.)
- Janssen Pharmaceuticals (U.S.)
- Gilead Sciences, Inc. (U.S.)
- Cipla Inc. (India)
Market Drivers:
The fungal infection is especially common in those with a poor immune system or immunological problems. They were also the most common cause of death among the young. Furthermore, approximately 220,000 episodes of cryptococcal meningitis occur each year in AIDS patients around the world. Antifungal medicines come in a variety of shapes and sizes, which will benefit overall market growth. However, because many of them have various side effects, producers have a big chance to develop new medications. Many medications are not recommended for pregnant women or children. The improved awareness about treatment methods will further enhance the global market in the forecast period.
Market Restraints:
Antifungal medication, in contrast to its curative effects, can have a variety of adverse effects. Irritation, itching, headaches, diarrhea, and anemia are just a few of them. It is also to blame for the damage to the kidneys and liver. Furthermore, several Antifungal medications have the potential to trigger allergic responses. These effects can reduce the growth of the market share in the forthcoming period.
COVID 19 Analysis
Far-reaching social and economic implications have had a negative impact on manufacturing, local business, and investments. The coronavirus outbreak is primarily a public health concern. It is, however, a growing global threat. The coronavirus epidemic is a cause of recession in some nations and a warning since it kept worldwide annual growth below 2.5 percent, commonly regarded as a recessionary threshold for the global economy. The COVID-19 epidemic has harmed the global Antifungal therapy market. The World Health Organization declared the outbreak a pandemic in 2020. The COVID-19 epidemic is wreaking havoc on worldwide economies and the U.S. economy, and it may also have a direct impact on the operations of many businesses and the third-party vendors they rely on.
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Market Segmentation
On a drug class basis, Azoles, commonly used drugs for treating fungal diseases and infections, are most widely used for systemic fungal infections. Hence, they will lead the overall market in the forecast period.
On the therapeutic indications’ basis, the systemic type accounts for the largest share and is anticipated to register a CAGR of 6.63% from 2020 to 2027.
By Pathogen basis, the Cryptococcus neoformans segment, a major pathogen causing complications in humans and animals, is estimated to steer the market in the forecast period.
By end user, the dermatology clinic segment will generate the highest level of revenue during the forecast period.
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Regional Analysis
The availability of a massive research budget is expected to enhance the number of grants available to researchers working on new Antifungal therapy items. Due to a growing number of patients and the availability of diagnostic and treatment facilities in the region, Europe is expected to develop significantly during the projection period. The Antifungal treatment market in the region is developing due to increased access to improved treatment facilities, rising government initiatives to stimulate research in order to find a solution for the growing number of cases, and rising healthcare expenditure. Asia-Pacific is predicted to be the fastest-growing Antifungal therapy market. The escalating R&D funding by developing countries such as China and India for the availability of basic therapies is largely responsible for this significant growth. Because of the expanding number of firms and subsidiaries offering treatment choices throughout the Middle East and Africa, the market for Antifungal treatment is growing at a rapid pace. Recently, Matinas BioPharma Holdings, Inc, a clinical-stage biopharmaceutical company focused on improving intracellular delivery of critical therapeutics through its paradigm-shifting lipid nanocrystal (LNC) platform delivery technology, announced that the United States Patent and Trademark Office (USPTO) had issued a Notice of Allowance for U.S. Patent Application covering MAT2203, a novel lipid nanocrystal (LNC) platform delivery technology, the Company’s oral, LNC formulation of Antifungal medicine amphotericin B.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
