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Global Antifungal Drugs Market to Grow at a CAGR of 5% During 2022-2027, Aided by the Rising Cases of Fungal Infections

According to a new report by EMR titled, ‘Global Antifungal Drugs Market Report and Forecast 2022-2027’, the global antifungal drugs industry stood at a value of around USD 13.2 billion in 2020. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 5%.

The antifungal drugs market is driven by the rising cases of fungal infections, such as cryptococcal meningitis, candidiasis, tinea versicolor, jock itch, systematic mycosis, and seborrheic dermatitis, among others, coupled with the increasing inclination of patients towards minimal invasive treatment. Surgeries can lead to different complications in the body, especially among the geriatrics. Over the forecast period, the growing expansion of the pharmaceutical and healthcare sector in the emerging economies is likely to bolster the market growth.

In terms of region, North America is likely to account for a significant share in the market, owing to the rising efforts by the healthcare authorities and government of the United States towards reducing the mortality rates in cases of fungal infections. The growing susceptibility of the fungal infections, such as candidiasis, blastomycosis, systematic candidiasis, owing to the rising number of athletes, growing inclination of the youth towards sporting activities and the decreasing immunity of the citizens due to high consumption of fast food are some of the factors which are likely to augment the market in the region in the forecast period.

In June 2021, Scynexis Inc (NASDAQ: SCYX) announced the approval of Brexafemme by U.S. Food and Drug Administration (FDA). Brexafemme is an antifungal drug, which is used to treat vaginal yeast infections, also known as Vulvovaginal candidiasis. In addition to this, the Brexafemme represents the first new class of antifungal drugs in 20 years.

Market Breakup by Drug Class, Indication, and Region:

  • The market is segmented on the basis of drug class into azoles, echinocandins, polyenes, and allylamines, among others.
  • The different indications considered in the market include dermatophytosis, aspergillosis, and candidiasis.
  • Region-wise, the global market for antifungal drugs can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

  • The global market for antifungal drugs is driven by the rising cases of fungal infections.
  • The market is anticipated to be propelled by the rising geriatric population, which is more susceptible to fungal infections such as candidiasis, systematic mycosis, and yeast infection, among others.
  • The growing expansion, along with the growing investments towards the R&D activities in the healthcare and pharmaceutical industry in emerging economies, is likely to augment the market growth.
  • The market will further be aided by the increasing inclination of the patients towards minimal invasive fungal therapies.

Key Offerings of the Report:

  • The EMR report gives an overview of the global antifungal drugs market for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the drug classes, indications, and regions of antifungal drugs.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global antifungal drugs industry are Abbott Laboratories, GlaxoSmithKline PLC, Novartis AG, and Pfizer Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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