Global AntifungalDrugs Market, by Drug Type (Echinocandins, Polyenes, Allylamines, Azoles,and Others), By Indication (Aspergillosis, Dermatophytosis, Candidiasis, andOthers), By Dosage Form (Powders, Ointments, Drugs, and Others), and by Region(North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),is estimated to be valued at US$ 11,591.0 million in 2020 and is expected toexhibit a CAGR of 1.8% during the forecast period (2020-2027), as highlightedin a new report published by Coherent Market Insights.
Global Antifungal Drugs Market -Impact of Coronavirus (COVID-19) Pandemic
The outbreak of COVID-19 hascreated challenges for several industries and markets worldwide. Due to rise inCOVID 19, society and healthcare facilities have paid more attention to thehealthcare industry, which will impose both positive and negative impact acrossits different sub-sectors. In the short term, the pharma companies, healthcareinstitutions, pharmaceutical distribution and retail have negative impact ofcovid-19 spread. According World Health Organization, in December 2019, themanifestation of coronavirus disease (COVID-19) has resulted in more than 29.6million infected individuals worldwide as of September 2020. The COVID-19 pandemichas affected the global economy in three main ways; by directly affectingproduction and demand, by negatively impacting the supply chain and marketdisruption, and through its financial impact on firms and financial markets.This negative economic impact is expected to hamper growth of variouspharmaceutical markets which includes the antifungal drugs market.
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Moreover, severe economic crisisand broken supply chain is a major issue faced by players operating in theantifungal drug market across globe. The pandemic has negatively impacted themedical healthcare industry in terms services provided by healthcarefacilities. As a result, the global antifungal drugs market growth is alsoexpected to witness a slowdown till the period of COVID-19 control. Majorpharmaceutical companies are focused on developing vaccines for treatingCOVID-19.
Browse 28 Market Data Tables and25 Figures spread through 149 Pages and in-depth TOC on Global Antifungal DrugsMarket, by Drug Type (Echinocandins, Polyenes, Allylamines, Azoles, Others) ByIndication (Aspergillosis, Dermatophytosis, Candidiasis, Others) By DosageForms (Powders, Ointments, Drugs, Others) and by Region (North America, LatinAmerica, Europe, Asia Pacific, Middle East, and Africa), - Forecast to 2027"
Moreover, key players in themarket are involved in various growth strategies such as gaining productapproval from regulatory authorities, in order to strengthen their marketpresence. For instance, in February 2018, Insmed, Inc., a biopharmaceuticalcompany, received the U.S. Food and Drugs Administration (FDA) approval for anew drug called Arikayce (amikacin liposome inhalation suspension) which wasapproved limited population pathway for antibacterial and antifungal drugsprogram.
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Key Takeaways of the GlobalAntifungal Drugs Market:
The global antifungal drugsmarket is expected to exhibit a CAGR of 1.8% during the forecast period(2020-2027) owing to launches of antifungal drugs for fungal infectiontreatment.
Among drug type, theEchinocandins segment is expected to hold a major revenue share in 2027 owingto launches of this drug type. For instance, in 2018, Hansoh Pharma launchedechinocandins antifungal drug Hengsen (micafungin sodium for injection).
Major players operating in theglobal antifungal drugs market are GlaxoSmithKline Plc, Bayer AG, AbbottLaboratories, Merck & Co., Inc, Glenmark Pharmaceuticals Limited, EnzonPharmaceuticals, Inc., Pfizer Inc., Gilead Sciences, Inc., Sanofi S.A. andAstellas Pharma, Inc.
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