Antifungal Drugs Market Exhibits a Stunning Growth Potentials | Pfizer Inc., Sanofi S.A., Gilead Sciences, Inc., Merck

  

Antifungal medications are used to detect and remove fungal diseases with minimal negative effects on the body. Unhygienic and dirty settings in which fungal agents grow promote fungal infection in the body. These agents multiply by disseminating spores, which then cause infections on the skin (superficial) or in the lungs (systemic)-fungal diseases.

By 2023, the global antifungal drugs market is predicted to grow from $13,719 million in 2016 to $17,718 million. During the projected period, 2017-2023, the industry is expected to grow at a CAGR of 3.7 percent.

The antifungal medications market is driven by key players' continued focus on the development of new generic and unique anti-infective pharmaceuticals and formulation technologies to address serious fungal infections. The different launches made by many key entities demonstrate this. Basilea Pharmaceutica Ltd., for example, launched CRESEMBA (isavuconazole) in the United Kingdom in 2016.

Drug type, therapeutic indications, dosage forms, infection type, and location are all used to segment the worldwide antifungal medicines market. It is divided into echinocandins, azoles, polyenes, allylamines, and other medications based on drug type. Furthermore, the market is divided into aspergillosis, dermatophytosis, candidiasis, and other therapeutic indications.

Powders, ointments, medicines, and pastes are the several types of dosage forms. The market is divided into superficial and systemic antifungals based on the kind of infection. Geographically, the market is examined in North America, Europe, Asia-Pacific, and Latin America and the Caribbean. In 2016, azole accounted for three-eighths of the total market share across medication types.

This is the highest of all, and the trend is likely to continue during the forecast period. The tendency has been seen due to an increase in global awareness of medicine availability and fungal infections. Dermatophytosis is predicted to increase at the greatest CAGR of 4.1 percent during the forecast period in the indication type.

Increased prevalence of fungal infection, increased awareness of numerous fungal infections, and increased demand for treatments to address linked diseases are all factors that are driving demand for antifungal drugs. Counterfeit medications and resistance to antifungal drugs, on the other hand, limit market growth.

The expansion of the antifungal medications market in India is fueled by a growing awareness of personal hygiene. Furthermore, India provides a tropical environment for the growing of various species of fungi, providing pharmaceutical companies with several options to keep the medication market inundated with various anti-fungal treatments. As a result, the market for antifungal medications is likely to grow in the near future.

Pfizer Inc., Sanofi S.A., Gilead Sciences, Inc., Merck & Co., Inc., Novartis International AG, Abbott Laboratories, Bayer AG, Scynexis Inc., Enzon Pharmaceuticals, Inc., and GlaxoSmithKline Plc are among the top competitors in the worldwide antifungal medications market, according to the report.