Surge in the prevalence of fungal infections along with rise in the awareness levels pertaining to myriad fungal infections facilitate the growth of the global antifungal drugs market. Furthermore, patent expirations and increasing funding effects of antifungal diseases offer lucrative opportunities. The North America region contributed to more than one-third of the total antifungal drugs market share in 2017. This segment is expected to maintain its dominance throughout the forecast period.
According to the report, the global
The global antifungal drugs market size was valued at $16.6 billion in 2020, and is projected to reach $25.0 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.
. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Antifungal drugs to primarily cater the systemic antifungal infections
By infection type, the systemic antifungal segment is expected to maintain its dominant position through 2023 and occupy almost 70% of the global market. This is attributed to their increased demand owing to their bioavailability, efficacy, and enhanced ability to provide better treatment against a broad spectrum of fungi that affects the internal organs severely.
Favorable government funds to combat the antifungal diseases along with the increasing prevalence of fungal infection drive the growth of the market. Furthermore, rising awareness levels pertaining to myriad fungal infections supplement the market growth. However, the growing population with antifungal drug resistance and the presence of counterfeit drugs and side effects of antifungal drugs restrict the growth. On the other hand, patent expirations and increasing funding from public & private organizations offer lucrative opportunities for the market.
Drugs to dominate the global market based on dosage
By dosage form, drugs are not only anticipated to remain the dominant segment in the near future but are also projected to grow at the fastest CAGR of 4.2%. They are expected to generate more than 30% of the global market revenue by 2030, owing to their stability with respect to physical, chemical, and microbiological attributes that help in providing accurate dosage to the patients.
Asia-Pacific to grow at the fastest rate through 2030
Asia-Pacific is expected to register the highest growth rate of 4.5% CAGR throughout the forecast period, owing to the presence of countries with a high populace base, such as India and China, where the antifungal drug usage rate is on a rise due to the growing awareness about fungal infections among the common people and high prevalence of diseases.
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Azoles projected to be the primary drug type in the near future
Based on drug type, azoles is projected to be the largest and fastest growing segment throughout the forecast period, growing at a CAGR of 3.9% to occupy more than one-third of the global market by 2030. Azoles play an active role in the treatment of many fungal infections and the newer versions have evolved to be the first line of defense against myriad fungal infections such as aspergillosis.
The leading market players analyzed in the research include the GlaxoSmithKline Plc. Pfizer Inc., Enzon Pharmaceuticals, Inc., Sanofi S.A., Scynexis Inc., Gilead Sciences, Inc., Bayer AG, Merck & Co., Inc., Abbott Laboratories, and Novartis International AG. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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