Rise in incidences of fungal and nosocomial infections, surge in initiatives by public and private organizations to spread awareness about myriad of fungal infections, and growth in prevalence of fungal infections such as aspergillosis and candidiasis drive the growth of the global antifungal drugs market. Furthermore, upsurge in number of drug approvals provide lucrative opportunities for the expansion of the global anti-fungal drugs market during the forecast period.
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 outbreak of the COVID-19 pandemic led to have a positive impact on the growth of the global antifungal drugs market.
- India contributed to approximately 71% of the global cases of mucormycosis in patients with COVID-19. Rise in cases of mucormycosis infectious disease had increased the usage of anti-fungal drugs.
“Rise in prevalence of chronic diseases such as diabetes, which causes fungal infection are expected to notably contribute toward the growth of the global anti-fungal drugs market during the forecast period.”
Based on dosage forms, the oral segment held the largest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 4.5% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 5.2% during the forecast period.
The global antifungal drugs industry is segmented into drugs class, infection type, therapeutic indication type, and dosage forms. On the basis of drug class, the azoles segment is anticipated to maintain its dominance during the forecast period. This is due to the high usage of drugs such as azole for all the fungal indications and these also offer broad spectrum activity and improved safety levels. In addition, rise in prevalence of most commonly occurring systematic fungal infection such as candidiasis supplements the antifungal drugs market growth. However, the echinocandins are expected to grow rapidly throughout the forecast period. This is owing to the growth in incidence of hospital-acquired infections and increase in life expectancy among people.
Leading players of the global antifungal drugs market analyzed in the research include Pfizer Inc., Sanofi S.A., Gilead Sciences Inc., Merck & Co. Inc, Novartis AG, Abbott Laboratories., GlaxosmithKlinePlc, AstellasPharma Inc., Johnson & Johnson, and MerzPharma.
