New Jersey, NJ, Jan. 16, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global antifungal drugs market is expected to grow from USD 11.92 Billion in 2018 to USD 13.87 Billion by 2026, at a CAGR of 1.91% during the forecast period 2019-2026. Growing prevalence of fungal infections such as aspergillosis and candidiasis are some of the key driving factors driving the market.

Market Outlook of the Antifungal Drugs

  • Antifungal drug or antimycotic drugs, are pharmaceutical substances that act selectively against a fungal pathogen such as candida, ringworms etc. in the treatment of fungal infection. The major groups of antifungals are the polyenes, the azoles, and the allyamines. These groups are distinguished primarily by their chemical structure and mechanism of action. Fungal infections include both systemic and superficial infections such as infection of the skin, eye, mouth, and vagina. Antifungal products with fungicidal activity are mostly used to treat a wide array of diseases, such as athlete's foot, ringworm, and fungal meningitis, caused by fungal agents. Growing incidences of patients suffering from hospital-acquired or nosocomial infections and infectious diseases are expected to drive the market growth over the forecast period.
  • Even though the factors such as increasing incidence of fungal infections as well as increase in awareness pertaining the treatment of fungal diseases are driving the global antifungal drugs market, the increasing resistance to antifungal drugs and stringent regulatory approval process are expected to restrain the market growth over the forecast period. Rising R & D pertaining to the development of novel drugs and increasing demand from the Asia Pacific region is anticipated to create new opportunities for the market growth in upcoming years.

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Drug Class Segment Analysis of the Antifungal Drugs Market

  • Azoles
  • Echinocandins
  • Polyenes
  • Allyamines
  • Others

The Azoles drug segment dominated the global antifungal drugs market with USD 5.83 billion revenue in 2018. This increased market share can be credited to the broad-spectrum action delivered by Azoles. These drugs are of immense use in the treatment of candidemia, blastomycosis, systemic candidiasis, and ocular fungal infections.

Indication Segment Analysis of the Antifungal Drugs Market

  • Dermatophytosis
  • Aspergillosis
  • Candidiasis
  • Others

The Candidiasis segment is projected to grow at the fastest CAGR of 3.98% over the forecast period. Growing incidence of thrush or oropharyngeal candidiasis that develops in the mouth or throat is anticipated to drive the global antifungal drugs market over the forecast period.

Dosage Form Segment Analysis of the Antifungal Drugs Market

  • Drugs
  • Ointment
  • Powder
  • Others

The ointment segment emerged as the leader in global antifungal drugs market with USD 5.11 billion revenue in 2018. Growing use of topical antifungal in the treatment of skin related fungal infections is projected to propel the market growth over the forecast period.

Region Segment Analysis of the Antifungal Drugs Market

  • North America (U.S. , Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

Increasing incidence of infectious disease in addition to presence of established pharmaceutical companies, and well-developed healthcare sector led the North America region to dominate the global antifungal drugs market in 2018. The Asia Pacific region is expected to grow at the highest CAGR of 4.02% over the forecast period. Factors such as growing prevalence of infection caused by the candida genus fungi, growing awareness pertaining the treatment are expected to drive the growth within the Asia Pacific region.

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Competitive Landscape and Key Vendors

  • Key players in the global antifungal drugs market are Abbott, Pfizer, Inc., Novartis AG, Merck & Co., Inc., Sanofi-Aventis, Bayer AG, Enzon Pharmaceuticals, Inc., GlaxoSmithKline Plc, Astellas Pharma, Inc., Sigma-Aldrich Agilent Technologies, Inc., Beckman Coulter, Inc., Sato Pharmaceutical Co., Ltd., Kramer Laboratories, Basilea Pharmaceutical Ltd., Eisai Co., Ltd,  Valeant Pharmaceuticals International, Inc., Tecan Group and among others.
  • For instance in 2018, Sato Pharmaceutical Co., Ltd. and Eisai Co., Ltd. announced release of NAILIN oral antifungal tablets in Japan for the treatment of onychomycosis.
  • For instance, in 2017, researchers from the University of Liverpool working with F2G Limited (Eccles, Manchester) announced that they have developed a new antifungal drug to help in the treatment of life threatening invasive fungal infections such as invasive aspergillosis. The 'orotomides', discovered by F2G Limited, have a novel mechanism of action which is the specific biochemical interaction through which a drug substance produces its pharmacological effect. This is the first new class of antifungal agent to be discovered in the last three decades.

About the Report:

The global antifungal drugs market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, competitor position grid analysis, distribution and marketing channels analysis.

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