Dublin, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The "Global Antifungal Agents Market 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The global antifungal agents market is estimated to grow at a significant CAGR of nearly 3.5% during the forecast period
The rise in the prevalence of infections such as aspergillosis and candidiasis has been significantly driving the market. Another major factor propelling the growth of the market include the rise in incidences of fungal infection. As per the Centers for Disease Control and Prevention (CDC), in 2017, there were nearly 23,000 cases of invasive candidiasis in the US.
Fungal diseases cost $7.2 billion in direct medical costs in 2017. 75,000 hospitalizations and nearly 9 million outpatient visits were reported due to fungal diseases in 2017. This, in turn, is encouraging the demand for antifungal agents that can fight fungal infection without damaging cells of the body.
Furthermore, medical advancements that include ongoing drug discovery and public-private initiatives to treat fungal diseases are driving market growth. Additionally, evolving opportunities in emerging economies such as the development of advanced healthcare infrastructure facilities are also expected to propel the growth of the market.
The COVID-19 pandemic has led to an increased demand for anti-fungal agents in the market. The patients hospitalized for the treatment of COVID-19 are at risk of healthcare-associated infections including candidemia or bloodstream infections that are caused by Candida. Additionally, the rise in the number of cases of black fungus, white fungus, and pink fungus has been increasing the demand for antifungal agents.
The global antifungal agents market is segmented based on drug class, dosage type, and route of administration. Based on drug class, it is segmented into polyene, echinocandins, allylamines, azole. Based on dosage type, it is further classified into powder, ointment, and drugs. Based on the route of administration, it is further classified into parenteral, topical, and oral.
North America is anticipated to witness a significant share in the market owing to the potential healthcare spending and rising prevalence of fungal diseases in the region.
Furthermore, specialized drug discovery for these diseases in the region also drives the market growth in the North American market. In addition, the presence of established pharmaceutical companies, which are consistently focusing on extensive commercialization of their drugs and enhancing their geographical reach, is anticipated to be a key factor escalating the growth of the market in the region.
Whereas, Asia-Pacific is expected to be the fastest-growing region in the market. The attributable factors include improving healthcare infrastructure, rising incidences of black fungus and other fungi in the country such as India, and rising medical tourism in the region. Thus, the global players are focusing on high R&D investment as well as commercializing branded drugs at a relatively lower price in the region.
Partnership & collaborations, product launches, and mergers and acquisitions are some crucial strategies adopted by the market players to gain a competitive advantage over their competitors.
Major players in the market include Abbott Laboratories, Inc., Pfizer Inc., and Bayer AG, among others.
Key Topics Covered:
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Antifungal Agents Market, by Drug Class
5.1.1. Polyene
5.1.2. Echinocandins
5.1.3. Allylamines
5.1.4. Azole
5.2. Global Antifungal Agents Market, by Dosage Type
5.2.1. Powder
5.2.2. Ointment
5.2.3. Drugs
5.3. Global Antifungal Agents Market, by Route of Administration
5.3.1. Parenteral
5.3.2. Topical
5.3.3. Oral
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
- Abbott Laboratories, Inc.
- Astellas Pharma Inc.
- Basilea Pharmaceutica Ltd.
- Bayer Healthcare LLC
- Bristol-Myers Squibb Co.
- Cadila Healthcare Ltd.
- Cosmo Pharmaceuticals N.V.
- Dr. Reddy's Laboratories Ltd.
- Gilead Sciences, Inc.
- Janssen Pharmaceutica NV
- Mayne Pharma Group Ltd.
- Merck & Co., Inc.
- Pfizer Inc.
- Sanofi-Aventis Groupe SA
- SCYNEXIS, Inc.
- Sumitomo Dainippon Pharma Co., Ltd.
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
- Viatris Inc.
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