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Antifungal Drugs Market Trends

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

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Antifungal Drugs Market Trends

The growing prevalence of fungal infections including both common superficial infections and severe systemic infections, drives demand for antifungal medications to manage and treat these conditions.
Factors such as the rising incidence of immunocompromised populations due to diseases like HIV/AIDS, the widespread use of immunosuppressive therapies, and the growing number of invasive medical procedures contribute to the higher susceptibility to fungal infections. For instance, the incidence of fungal infections in people living with HIV/AIDS, particularly opportunistic fungal infections, remains a significant concern. Cryptococcal meningitis, caused by C. neoformans, is a major issue for individuals with HIV/AIDS, with an estimated 152,000 cases occurring worldwide each year.
To cater to this increasing demand for antifungal drugs, pharmaceutical companies are investing in research and development efforts to introduce innovative antifungal drugs, thereby driving market growth.
In addition to this, increased awareness among healthcare professionals about the importance of fungal infection diagnosis and management leads to higher rates of diagnosis and prescription of antifungal medications, further boosting the overall market growth.

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.