Anti Fungal Drugs - Market Insights, Competitive Landscape, and Market Forecast - 2030

Antifungal Drugs Market By Indication (Aspergillosis, Dermatophytosis, Candidiasis, And Others), By Drug Type (Echinocandins [Caspofungin, Micafungin, And Others], Azoles [Voriconazole, Posaconazole, Clotrimazole, And Others], Polyenes [Amphotericin And Others], Allylamines [Terbinafine And Others], And Others), By Dosage Form (Powder, Ointments, Tablets, And Others), and by geography is expected to advance at a respectable CAGR forecast till 2030 owing to the increasing burden of fungal infections such as fungal nail infections, ringworm, vaginal candidiasis, aspergillosis, and others and the increasing research & developmental activities with reference to the antifungal drugs across the globe

The global antifungal drugs market was valued at USD 14,636.88 million in 2022 and is likely to register a CAGR of 4.65% during the forecast period from 2024 to 2030 to reach USD 19,162.67 million by 2030. The antifungal drugs market is observing substantial market growth owing to the growing prevalence of various fungal infections such as fungal nail infections, ringworm, vaginal candidiasis, aspergillosis, candida infections of mouth, throat, and esophagus, fungal eye infections, and others. Further, the increasing availability of antifungal drugs as over-the-counter (OTC), surging demand for generic antifungal drugs, the surging incidence of nosocomial infections worldwide, increasing innovations in the drugs, such as the development of synthetic and semi-synthetic azole-based compounds for the treatment of invasive fungal infections, and others will aid in surging the demand for antifungal drugs. Likewise, the increasing research & developmental activities along with the surging drug approvals and launches, and the presence of key players in the market will create a requisite for antifungal drugs in the market. Therefore, the market for antifungal drugs is estimated to grow at a substantial CAGR during the forecast period from 2024 to 2030.

Antifungal Drugs Market Dynamics:

According to the latest study done by Global Action for Fungal Infections, globally, over 300 million people are affected with a serious fungal infection, yearly. Moreover, as per the same source, invasive aspergillosis affects nearly 1,000,000 people, and invasive candidiasis affects nearly 750,000 people yearly, worldwide.

Further, the growing prevalence of nosocomial or hospital-acquired infections will aid in propelling the market of antifungal drugs during the forecast period. The World Health Organization (WHO) in 2022 stated that in high-income countries, approximately 30% of the patients in intensive care units are affected by at least 1 healthcare-associated infection. Whereas, in middle to low-income countries the frequency of intensive care-acquired infection is 2-3 times higher than that of high-income countries. Thus, the increasing prevalence of hospital-acquired infections is anticipated to propel the demand for antifungal drugs.

Additionally, increasing awareness for many fungal infections, the surging number of over-the-counter antifungal (OTC) drugs, and increased use of antifungal drugs in developing countries, and others will thereby contribute to the growth of the antifungal drugs. Also, with the growing popularity of over-the-counter (OTC) drugs such as clotrimazole, econazole, ketoconazole, miconazole, and amorolfine, many patients are found to be taking OTC drugs.

Therefore, the factors stated above collectively will drive the overall antifungal drugs market throughout the forecast period from 2024-2030.

However, the increasing resistance to antifungal drugs, side effects of antifungal drugs, and stringent regulatory approval process may halt the market growth of antifungal drugs.

The antifungal drugs market was moderately impacted during the period of COVID- 19 pandemic. During the initial stage of the pandemic, the sale of antifungals suffered a collapse owing to the imposition of strict lockdown rules, and disruption in manufacturing, and supply. However, the government classified medicines and drugs under emergency products during the pandemic, thereby leading to an increase in their demand or sales. Moreover, with the involvement of online pharmacies, the sale of many over-the-counter medicines increased, impacting the market for antifungal drugs. Likewise, the ease of lockdown restrictions, the upturn of resources and supply chain, the administration of a vaccine to the public, and with the increasing number of treatment rates for mental disorders, the demand for antifungal drugs increases and is anticipated to do the same during the forecast period from 2022 - 2028.

Antifungal Drugs Market Segment Analysis:

Antifungal Drugs Market by Indication (Aspergillosis, Dermatophytosis, Candidiasis, and Others), Drug Type (Echinocandins [Caspofungin, Micafungin, and Others], Azoles [Voriconazole, Posaconazole, Clotrimazole, and Others], Polyenes [Amphotericin and Others], Allylamines [Terbinafine and Others], and Others), Dosage Form (Powder, Ointments, Tablets, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the drug type segment of the antifungal drugs market, the clotrimazole segment is expected to have a significant revenue share in the year 2023. This was primarily owing to the increasing prevalence of fungal infections across the globe. Also, the expanding launches and strategic investments, and other activities by the key players related to the segment will support driving its market during the forecast period. Further, the wide application circle of clotrimazole is anticipated to propel its market during the forecast period.

For instance, azoles drugs are used to treat thrush, yeast infection, candidiasis, aspergillosis, tinea versicolor, athlete's foot, jock itch, ringworm, fungal infections, systemic mycosis, and seborrheic dermatitis.

Also, clotrimazole provides a broad spectrum of activity and improved safety standards. The medication has fewer side effects and improved absorption and distribution properties.

Further, various other strategic steps taken by key players in the market will help in increasing the demand for Antifungals. For instance, in June 2022, Cadila Pharmaceuticals launched a new triazole antifungal drug Posaconazole that is effective against a wide range of invasive fungal diseases. The drug was also recommended as a second-line treatment for Mucormycosis. Also, in 2019, Mayne Pharma announced the launch of the TOLSURA (SUBA-itraconazole) 65mg capsule in the United States. TOLSURA is a formulation of itraconazole that has been shown to treat fungal infections of the system, including blastomycosis, histoplasmosis, aspergillosis, and others.

Therefore, owing to the above-mentioned factors, the demand for azoles upsurges, thereby the category is expected to witness considerable growth eventually contributing to the overall growth of the global antifungal drugs market during the forecast period.

North America is expected to dominate the overall Antifungal Drugs Market:

Among all the regions, North America is expected to dominate the global antifungal drugs market in the year 2023 and is expected to do the same during the forecast period from 2024-2030.

This can be ascribed to the increasing demand for antifungal drugs among the patients in the region owing to the increasing prevalence of various fungal infections such as athlete's foot, jock itch, ringworm, Aspergillosis, Candidiasis, and others. Further, the increasing number of antifungal drugs as over-the-counter (OTC), the rising awareness about the treatment of fungal infections, and the presence of key domicile players contribute to the growth of the antifungal drugs market in North America during the forecast period from 2022 - 2028.

For instance, as per the Centers for Disease Control and Prevention (CDC) 2022, an estimated 1.4 million outpatient visits for vaginal candidiasis occur annually, in the United States.

Additionally, according to the Centers for Disease Control and Prevention (CDC), resistance to certain strains of Candida (which occurs as a common cause of blood-related infections in the United States) has been noted in the United States and about 7% of all Candida bloodstream tests are not resistant to fluconazole.

Though, resistance to echinocandin has increased. In addition, drug-resistant strains are also prevalent in the region. Also, the number of aging people is growing in the United States, which may act as a supportive factor for market growth. According to the World Population Aging 2019 report, about 53,340 people were 65 years and older by 2019, and that number is expected to reach 70,842 by 2030, representing about 20% of the country's population. This population is more susceptible to chronic diseases, such as cancer, thus damaging the immune system. Hence, the population could be more susceptible to fungal infections, which will drive the need for anti-fungal drugs in the region. This population is more susceptible to chronic diseases, thus, putting the immune system at risk. Therefore, the population is more susceptible to fungal infections, which will drive the need for anti-fungal drugs in the United States.

Furthermore, various players are conducting clinical trials on antifungal drugs, which will create an opportunity for the market to grow in the upcoming years. For instance, Scynexis, Inc., a United States-based biotech company, is conducting a multicenter, open-label, non-comparator, single-arm study to evaluate the efficacy and safety of ibrexafungerp in patients >= 18 years of age with a documented invasive and/or severe fungal disease that has been intolerant or refractory (rIFI) to Standard of Care (SoC) antifungal treatment.

Moreover, the market players in the country are continuously concentrating on the development of novel drugs to tackle fungal infections using antifungal drugs, and they are also adopting various strategies to develop better drugs with reduced side effects. Thus, this is likely to drive the market in the region. For instance, in May 2022, the US Food and Drug Administration approved Vivjoa (oteseconazole) by Mycovia Pharmaceuticals' azole antifungal for chronic vaginal yeast infection. Oteseconazole, a tetrazole, is designed to inhibit fungal CYP51 enzymes but not human CYP enzymes. Human enzyme inhibition accounts for the side effects of other azole antifungals, thus reducing the side effects.

Therefore, the interplay of the aforementioned factors above would provide a conducive growth environment for antifungal drugs in the North America.

Antifungal Drugs Market Key Players:

Some of the key market players operating in the antifungal drugs market include Abbott., Bayer AG, GSK plc., Merck & Co., Inc., Cadila Pharmaceuticals., Glenmark, SCYNEXIS, Inc., Astellas Pharma d.o.o., Arcadia Consumer Healthcare, Novartis AG, Pfizer Inc., Leadiant Biosciences, Inc., Sun Pharmaceutical Industries Ltd., Viatris Inc., Sanofi, Gilead Sciences, Inc., Apotex Inc., Aurobindo Pharma USA, Cipla Inc., Dr. Reddy's Laboratories Ltd., and others.

Recent Developmental Activities in the Antifungal Drugs Market:

In October 2022, Intas Pharmaceuticals Limited on Tuesday announced the launch of an innovative antifungal drug, Super Bioavailable Itraconazole-SB 100mg under the brand name - Itaspor-SB Forte/Subawin. The drug will substantially reduce the cost of the therapy for fungal infection, and also is expected to improve patient compliance and reduce the Doctor's counseling time. It will reduce dosing to half, Intas said in an announcement.

In May 2022 announced the launch of the new and improved range of Canesten, their anti-fungal treatment solution in India.

In June 2022, Scynexis announced the approval of Brexafemme by the United States Food and Drug Administration for the treatment of vaginal yeast infections.

Key Takeaways from the Antifungal Drugs Market Report Study

• Market size analysis for current antifungal drugs market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the antifungal drugs market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global antifungal drugs market.
• Various opportunities available for the other competitor in the antifungal drugs market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030.
• Which are the top-performing regions and countries in the current antifungal drugs market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for antifungal drugs market growth in the coming future?

Target Audience who can be benefited from this Antifungal Drugs Market Report Study

• Antifungal drugs providers
• Research organizations and consulting companies
• Antifungal drugs -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in antifungal drugs
• Various end users who want to know more about the antifungal drugs market and the latest developments in the antifungal drugs market.

Frequently Asked Questions for the Antifungal Drugs Market:

1. What are antifungal drugs?

Antifungal drugs are prescribed for the treatment of diseases caused by various fungi such as Aspergillosis, candida, and others. These drugs work either by killing the fungal cells or stopping them from growing and multiplying. The antifungal drugs can be administered orally, or applied topically, or administer intravenously through an IV drip.

2. What is the global market for antifungal drugs?

The global antifungal drugs market was valued at USD 14,636.88 million in 2022 and is likely to register a CAGR of 4.65% during the forecast period from 2024 to 2030 to reach USD 19,162.67 million by 2030.

3. What are the drivers for the global antifungal drugs market?

The antifungal drugs market is witnessing positive market growth owing to the factors such as the growing prevalence of various fungal infections, the increasing number of antifungal drugs as over-the-counter (OTC), the surging incidence of nosocomial infections worldwide, increasing product innovations, such as the development of synthetic and semi-synthetic azole-based compounds for the treatment of invasive fungal infections, surging new drug launches and approvals, presence of key players in the market, and others will create an exigency for the antifungal drugs market.

4. Who are the key players operating in the global antifungal drugs market?

Some of the key market players operating in the antifungal drugs market include Abbott., Bayer AG, GSK plc., Merck & Co., Inc., Cadila Pharmaceuticals., Glenmark, SCYNEXIS, Inc., Astellas Pharma d.o.o., Arcadia Consumer Healthcare, Novartis AG, Pfizer Inc., Leadiant Biosciences, Inc., Sun Pharmaceutical Industries Ltd., Viatris Inc., Sanofi, Gilead Sciences, Inc., Apotex Inc., Aurobindo Pharma USA, Cipla Inc., Dr. Reddy's Laboratories Ltd., and others.

5. Which region has the highest share of the antifungal drugs market?

Among all the regions, North America is estimated to hold a significant revenue share in the global antifungal drugs market. This can be ascribed to the increasing demand for antifungal drugs among the patients in the region owing to the increasing prevalence of various fungal infections such as athlete's foot, jock itch, ringworm, Aspergillosis, Candidiasis, and others. Further, the increasing number of antifungal drugs as over-the-counter (OTC), the rising awareness about the treatment of fungal infections, and the presence of key domicile players in the region are the reasons which act as a supportive factor for the North America antifungal drugs market growth.