Global Antifungal Drugs Market Size to Reach USD 91.81 Billion in 2032 | Emergen Research

Increasing funding and investments in healthcare is a key factor driving antifungal drugs market revenue growth

Vancouver, Sept. 20, 2023 (GLOBE NEWSWIRE) — The global antifungal drugs market size was USD 13.81 Billion in 2021 and is expected to register a revenue CAGR of 3.6% during the forecast period, according to latest analysis by Emergen Research. Increasing high-value investments in the healthcare sector and Research & Development (R&D) initiatives by various major companies is a key factor driving market revenue growth. In addition, growing prevalence of various fungal skin infections with increasing awareness about fungal disease for early identification and prevention id driving revenue growth of the market.

Majority of life-threating fungal infections inflicts individuals with altered immune function, such as HIV/AIDS, cancer chemotherapy, and hematology, among others. Rising incidence of invasive fungal infections along with immunodeficiency diseases is another major factor driving demand for antifungal drugs. In addition, ease of application of antifungal treatments in the form of oral tablets, topical cream/ointment, and IV drips, as well as their availability as over-the-counter medications, is a key factor increasing demand for antifungal drugs by the healthcare sector. Moreover, increased R&D for new formulated medications for treatment of fungal infections is contributing to growth of the market. On 21 May 2021, MSN Labs launched Posaconazole under the brand PosaOne, for treatment of deadly black fungus both in form of injections and delayed-release tablets. PosaOne, a triazole antifungal drug recommended for treatment of mucormycosis patients, was introduced as 100mg delayed-release tablets and 300mg injections.

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However, various side-effects of antifungal drugs such as allergic reactions, liver damage, itchy skin, and diarrhea, among others, as well as growing resistance to antifungal medications are expected to restrain growth of the market

Scope of Research

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Major Companies and Competitive Landscape

The global antifungal drugs market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective antifungal drugs. Some major players included in the global antifungal drugs market report are:

• GSK Group of Companies
• Novartis AG
• Pfizer Inc.
• Bayer AG
• Merck & Co., Inc.
• Abbott
• Astellas Pharma Inc.
• Enzon Pharmaceuticals, Inc.
• Glenmark Pharmaceutical Inc.
• Leadiant Biosciences, Inc.

Strategic Development

• On 16 May 2022, Novo Holdings which is a leading global life sciences investor, collaborated with Shinogi with its portfolio company F2G Ltd. to develop and commercialize antifungal agent olorofim for treatment of invasive fungal infections in Europe and Asia. F2G is a U.S., UK, and Austria based biotech company, which is focused on discovery and development of novel therapies to treat life-threatening invasive fungal infections. This deal value included upfront payment of USD 100 million with F2G eligibility of additional regulatory and commercial milestones of around USD 380 million in addition to double-digit royalties on net sales and share development costs. Olorofim is a novel oral antifungal therapy drug for treatment of invasive aspergillosis and other rare mold infections, which is developed by F2G. Currently olorofim is in a Phase 2b open-label study and Phase 3 randomized study.

• On 2 June 2021, SCYNEXIS which is a biotechnology company focused on innovative medicines to prevent and overcome difficult-to-treat and drug-resistant fungal infections, was granted approval by the U.S. Food and Drug Administration (FDA) for BREXAFEMME (ibrexafungerp tablets) for oral use in patients diagnosed with Vulvovaginal Candidiasis (VVC). BREXAFEMME represents the first and only oral non-azole treatment for vaginal yeast infections. Leveraging 14 years of patent protections, SCYNEXIS is expected to move forward with its pipeline of ibrexafungerp indications for creation of a long-lasting antifungal franchise in both hospital and community settings.

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Some Key Highlights From the Report

• The azoles segment accounted for a significant revenue share in 2021. Azoles inhibit synthesis of ergosterol, which is a critical component in fungal cell membrane owing to high utilization for treatment of fungal infections of body and skin, thereby driving revenue growth of this segment. In addition, high demand for ketoconazole, fluconazole, and itraconazole for increasing clinical uses for fungal infections, such as Candidiemia, Cryptococcosis, Aspergillosis, and Coccidioidomycosis, among others, is one of the key factors contributing to growth of this segment.
• The dermatophytosis segment accounted for largest revenue share in 2021. Increasing incidence of dermatophytosis cases, which has contagious properties to spread from point of contact and also from animal to human is driving revenue growth of this segment. Moisture and warm conditions is a major factor for rising incidences of dermatophytosis in tropical countries, in addition to sweating, owing to outdoor physical activities in hot humid weather and unhygienic environment.
• The topical segment accounted for a significant revenue share in 2021.  Provision of targeting site of infection, reduction in risk of systemic side effects, better efficacy of treatment, and increase patient compliance are some of major key factors driving revenue growth of this segment.
• Online pharmacies segment is expected to register significant growth rate over the forecast period owing to easy accessibility of over-the-counter drugs for treatment. Moreover, growth of this segment is further supported by increased access to online services & faster growth in the number of internet users.
• The Asia Pacific market is expected to register a significant growth rate over the forecast period owing to emergence of pharmaceutical companies, increase in collaborations in pharmaceutical industries in countries such as India, South Korea, and rise in hospital-oriented fungal infections are primary factors driving revenue growth of the market in region. Growing population in countries, such as China and India with increasing disposable income, is contributing to growth of the market.

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Emergen Research has segmented the global antifungal drugs market based on drug type, indication analysis, route of administration, distribution channel, and region:

• Drug Type Outlook (Revenue, USD Billion; 2019-2030)
  • Azoles
  • Polyenes
  • Echinocandins
  • Allylamines
• Indication Analysis Outlook (Revenue, USD Billion; 2019-2030)
  • Dermatophytosis
  • Candidiasis
  • Aspergillosis
  • Others
• Route of Administration Outlook (Revenue, USD Billion; 2019-2030)
  • Topical
  • Oral
  • Parenteral
• Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
  • Online pharmacies
  • Retail pharmacies & drug stores
  • Hospital pharmacies
• Regional Outlook (Revenue, USD Billion; 2019-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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