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Antifungal drugs market size projects strong growth with a rising CAGR of 4.20%

Antifungal drugs market size projects strong growth with a rising CAGR of 4.20%

The recent insight on Antifungal drugs market outlook for the 2020-2026 forecasts ongoing public-private partnership agreements in the pharmaceutical industry, development of novel antifungal therapeutics and strong prevalence of infections as ongoing market trends and drivers offering potential market opportunity.

The changes in environmental conditions,increased urbanization and globalization are leading to global emergence of infectious diseasesthat favours the growthandtransmission of the pathogens contributing to spreadinfectious fungal diseases.

In addition growing prevalence of fungal infection such as aspergillosis and candidiasis is a key factor driving the antifungal drugs market growth.

However, the availability of alternative therapies combined with the increasedgeneric penetration is posing a challenge for the growth of the antifungal drugs market.

Rising popularity of OTC antifungal drugs drives market growth

Many over-the-counter (OTC)products orcosmeceuticals are increasingly penetrating antifungal drugs market growthwith benefits of treating dermal infections. Extensiveadvertisements and endorsements of OTC products haveincreased their sales over prescriptiondrugs.

OTC topical antifungal agents provided by the key players including miconazole nitrate, butenafinehydrochloride, clotrimazole, tolnaftate, and terbinafine hydrochloride are considered safe and effective for use in the treatment of mild to moderate fungal skin infections.

Demand for treatment of Invasive Fungal Infections strongly influences Antifungal drugs market value

Invasive fungal infections predominate in the inpatient setting with majority of invasive fungal infections in intensive care units, internal medicine and haematology wards within hospitals. High rates of morbidity and mortality are associated with invasive candidiasis and candidemia. 2019, CDC surveillance data indicate that the 30-day all-cause (crude) mortality among people with candidemia is approximately 25%.

Cidara Therapeutics are speeding the development of CD101, which is the first echinocandin antifungal drug to be developed as a topical treatment, in particular for recurrent vulvovaginal candidiasis.

In 2018, FDA grants QIDP and fast track designations to Cidara TherapeuticsInc. for Rezafungin Prophylaxis Development Program delivering lead antifungal product candidate, rezafungin for injection.

Collaboration and development of innovative approaches boosts antifungal drugs market growth

Antifungal drugs market size projects strong inclination towards OTC antifungal drugs and expansive product portfolio. Collaborative approach is widely implemented across the strong market vendors and new emerging antifungal drug makers to cater the needs of improved drug delivery and patient outcome. Accordingly, in July 2018, Sato Pharmaceutical Co., Ltd. and Eisai Co., Ltd. released NAILIN oral antifungal tablets to fulfil the needs of onychomycosis patients.

The key players contributing in the antifungal drugs market include Abbott Laboratories, Astellas Pharma, Inc., Bayer AG, GlaxoSmithKline Plc, Glenmark, Kramer Laboratories, Merck& Co., Inc., Novartis AG, Pfizer Inc., SCYNEXIS, Inc.

Anti-fungal drug market is gaining momentum with emergence of new treatment ,derma indications and drug resistance

The azole group is also an emerging market segment offering treatment from superficial and invasive fungal infections with improved safety levels, such asfewer adverse effects, improved absorption, distribution properties, and less serious drug interactions.

Further, by indication, Dermatophytosis holding as strong market share during the forecast period due to rising incidence of skin infections in children.Children cutaneous tinea and tinea capitis are relatively common in pediatric age group with 3.1% of children in the age group of 0–10 years.

Altogether antifungal drug resistance market segment is emerging with strong prevalence of larger compendium of antifungal agents, both primary and secondary resistance to 5-fluorocytosine are known to occur for strains of Candida species, serving as the basis for restricting use of this agent to combination therapy with other antifungal drugs.

The incorrect prescription of the drugs bythe physicians or course takenby the patients as well as incorrect dosing across agriculture and animal husbandry sector leads to the development of such resistance.

North America is holding the largest Anti-fungal drug market share in the global arena

The market growth across the region is a result of increasing incidence of infectious diseases. In a retrospective study in the U.S across more than 600 ICU’s, the prevalence of invasive aspergillosis (IA) was determined to be 0.017%, with an in hospital mortality of 46%.

Rise in prevalence has raised clinical urgency to increase the usage of these drugs and has boosted development of innovative drugs with fast-track approvals by FDA.

Also, across the developing regions, the growing number of dams, poor living conditions, lack of sanitation, and inadequate waste management systems are the other factors that drive the antifungal market growth.

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