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Antifungal Drugs Market Size

Report ID: GMI8582
Published Date: Mar 2024
Report Format: PDF

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Antifungal Drugs Market Size

Antifungal Drugs Market was valued at USD 15.5 billion in 2023 and is anticipated to witness growth at a CAGR of 3.7% to reach USD 21.2 billion by 2032. The increasing prevalence of fungal infections fueled by factors such as a growing geriatric population, rising prevalence of chronic diseases, and a higher number of immunocompromised patients is majorly contributing to the market growth.

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Antifungal Drugs Market

What are the growth opportunities in this market?

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For instance, as per the National Institute of Health (NIH), fungal infections are a significant health concern globally, with over 150 million severe cases occurring annually, leading to approximately 1.7 million deaths per year. Thus, this substantial number of patients with fungal infections drives the adoption of the antifungal drugs. Additionally, advancements in diagnostic techniques leading to improved identification of fungal infections are driving the demand for antifungal drugs. Furthermore, the development of novel antifungal therapies with improved efficacy and safety profiles, along with the expanding applications of antifungal drugs in prophylaxis, are expected to fuel market growth.

Antifungal Drugs Market Report Attributes
Report Attribute	Details
Base Year:	2023
Antifungal Drugs Market Size in 2023:	USD 15.5 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	3.7%
2032 Value Projection:	USD 21.2 Billion
Historical Data for:	2018 – 2023
No. of Pages:	234
Tables, Charts & Figures:	407
Segments covered:	Drug Class, Indication, Infection Type, Route of Administration, Medication, Type, Distribution Channel, and Region
Growth Drivers:	Increasing prevalence of fungal infections Rising awareness and adoption of antifungal drugs Increasing R&D activities for developing novel antifungal drugs
Pitfalls & Challenges:	Increasing antifungal drug resistance Increasing product recalls

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Antifungal drugs are a class of medications specifically designed to treat fungal infections caused by different types of fungi. Antifungal drugs are used to treat a wide range of fungal infections, including superficial infections like athlete's foot, ringworm treatment, and vaginal yeast infections, as well as systemic infections like invasive candidiasis and aspergillosis.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global market for antifungal drugs was valued at USD 15.5 billion in 2023 and is anticipated to reach USD 21.2 billion by 2032, backed by the increasing prevalence of fungal infections due to a growing geriatric population, and a higher number of immunocompromised patients.

The azoles segment accounted for a 48.2% market share in 2023 and will continue to be prominent through 2032, as they exhibit a broad spectrum of activity against a wide range of fungal pathogens, including Candida species, Aspergillus species, and dermatophytes.

North America market accounted for a revenue of USD 6.4 billion in 2023 and is anticipated to record a CAGR of 3.3% through 2032, attributed to the presence of advanced healthcare infrastructure and sophisticated medical facilities, which facilitate early diagnosis, treatment, and management of fungal infections.

Abbott Laboratories, Astellas Pharma, Inc., Bayer AG, Enzon Pharmaceuticals, Inc., GlaxoSmithKline plc, Glenmark, Merck & Co., Inc., Novartis AG, Pfizer, Inc., and Sanofi among others.