Global Anti Fungal Drugs Market Size, Share & Industry Analysis, By Drug Type (Echinocandins, Azoles, Polyenes, and Allylamines), By Indication (Dermatophytosis, Aspergillosis, Candidiasis, and Others), By Route of Administration (Oral, Topical, and Parenteral), By Distribution Channel (Hospital Pharmacies, Retails Pharmacies & Drug Stores, and Others), and Regional Forecast, 2020-2027

The global antifungal drugs market size was valued at USD 10.24 billion in 2019 and is projected to reach USD 13.17 billion by 2027, exhibiting a CAGR of 3.3% during the forecast period.

Fungi are defined as the microorganisms that are capable of staying alive in a wide array of environments. Fungi can lead to diverse infections in the human body ranging from superficial skin to systemic that enters into the body through inhalation. These infections occur in the human body usually due to high exposure to unhygienic environments of fungus or due to low immune systems. Therefore, individuals can suffer from fungal infections primarily on skin, hair, and lungs, the rising prevalence of which is triggering the market growth. The most common fungal infections include ringworm, athlete’s foot, fungal nail infection, and they are boosting this market during the forecast period. In addition to this, the increasing incidence of infections such as mucormycosis, candidiasis, and others that are expected to propel growth rate. Furthermore, Antifungal drugs restrict fungal microorganisms from growing on the host cell and eliminate the occurrence of fungal infection. Thus, the availability of diverse antifungal drugs for the treatment of fungal infection and over-the-counter drugs for the treatment of dermal infection is positively influencing the antifungal drug market growth. According to an article published in the National Center for Biotechnology Information in 2019, it is estimated that approximately 1 million cases of cryptococcosis are reported annually resulting in 625,000 deaths globally. Thus, the increase in prevalence of cryptococcosis is fueling the demand for these drugs in the market.

MARKET TRENDS

Increase in Usage of Nanotechnology in Formulation of Advanced Antifungal Drugs to Propel Market Growth.

An increase in the prevalence of fungal infections across the globe has prompted manufacturers to develop advanced formulation medications for better clinical outcomes. This in turn, is propelling the growth of the market during the forecast period. Therefore, manufacturers are focusing on the advanced formulation of medications that can be developed with the help of nanotechnology. Nanotechnology is widely used in different areas of medicine to deliver improved patient outcomes. For instance, nanotechnology is used for the treatment of onychomycosis (nail fungus) that causes nail disfigurement, pain, and other issues. Furthermore, players are also focusing on the development of drugs such as Amphotericin B which is a topical nanoemulsion formulation Antifungal drug for the treatment of candidiasis & aspergillosis, thereby triggering the market growth.

Moreover, the introduction of nanostructured drug delivery systems for the treatment of oral and vaginal candidiasis is emerging as one of the critical factors bolstering growth of the market.

MARKET DRIVERS

Rise in Incidence of Nosocomial Infections to Augment Antifungal Drugs Market Growth

Over the years, fungal infections are considered a major health problem across the globe. Additionally, the incidence of nosocomial infections is also propagating the market growth. Factors responsible for the growth of nosocomial infections are the growing incidences of cancer, an increase in hematopoietic stem cell transplantation, and others that result in weakening of the immune system. Thus, a low immune system leads to the occurrence of fungal infections that are positively driving the market growth. For instance, aspergillosis usually occurs in patients suffering from intermediate to severe degree of immunocompromised. According to the Center for Disease Control and Prevention (CDC) in 2018, it is estimated that 1.7 million of the hospitalized population suffer from nosocomial infections while being treated for some other health complications and more than 98,000 patients die due to hospital-acquired infections. Additionally, the World Health Organization (WHO) 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. The increasing number of hospital-acquired infections is expected to augment and to drive the growth of this market.

Increase in R&D Activities and Pipeline of New Drugs to Accelerate Market Growth

High prevalence of fungal infections and the complications associated with its treatment are propelling players to invest on R & D activities. This in turn, is propelling the formation of new antifungal drugs for better outcomes which is positively impacting the market growth. The antifungal drugs that are currently used for fungal treatment include azoles, polyenes, and echinocandins. Although they are highly recommended, there are certain limitations in terms of treatment of invasive fungal infections. Thus, the launch of newly formulated drugs is required for serious fungal infections which will positively influence the market growth during the forecast period. Furthermore, the high rate of morbidity and mortality, further attributable to the prevalence of candida infection is a strong indication that new products are required for advanced treatment of fungal infections globally. This will stimulate the market in the near future. In addition to this, resistance to most widely used drugs for the treatment of aspergillosis and recurring toxicity of currently available Antifungal treatment are boosting the development of novel antifungal drugs. Hence, to overcome the complications oriented to limitations of currently available drugs manufacturers have aimed to increase R&D activities and conduct clinical trials for their new drugs which is triggering the key market growth. For instance, the Access to Medical Foundation research  mentioned that eight major pharmaceutical companies have combined 77 projects in their R&D pipeline aiming towards the development of Antifungal drugs. In addition to this, GlaxoSmithKline plc. has the largest R&D pipeline of 27 pipeline candidates and Merck & Co., Inc. has 12 pipeline candidates for Antifungal medicine development which is also expected to add impetus to the market during the forecast period.

Additionally, the Global Action Fund for Fungal Infections set up in 2013 which focuses on public health voice for patients suffering from fungal infections is also propagating the market during the forecast period.

MARKET RESTRAINTS

 High Adverse Effects and Usage of Conventional Drugs is Hampering the Market

Although, Antifungal drugs which are highly recommended to eliminate fungal infections by medical practitioners which are boosting the market. On the flip side, the rise in availability of generic drugs and expensive drugs for the regular treatment of fungal infection is restricting the market growth. Furthermore, the high adverse effect of the antifungal drugs used for the eradication of fungal infection is also negatively influencing the growth of the market. For instance, amphotericin B which is highly recommended for fungal infection has various adverse drug effects. These include nephrotoxicity, hypokalemia, bone marrow suppression, and others which is negatively influencing the growth of the market. Furthermore, stringent government regulations, patent expiration, increase in fungal resistance and counterfeit drugs are also hindering the market during the forecast period.

SEGMENTATION

By Drug Type Analysis

Azoles Dominated the Global Market

Based on the drug type, the antifungal drugs market is segmented into azoles, echinocandins, polyenes, and allylamines. Azoles are considered to be the leading segment owing to its fungicidal properties and increased revenue generation in 2019. Azoles are systemic antifungal drugs that include fluconazole, ketoconazole, and others which are highly recommended for fungal infection treatment, thereby upscaling the market.

Echinocandins are lipopeptides obtained from natural fungal fermentation products which consist of micafungin, caspofungin, and others. This segment is expected to grow and to register the highest CAGR owing to more cost effectiveness and is highly considered for the management of invasive systemic fungal infections. Polyenes are considered to be important as they are widely used in treatment of serious fungal infections such as cryptococcal meningitis, blastomycosis, and others. Furthermore, allylamines also influence the market growth as they are widely used in the treatment of tinea, trichophyton, and epidermophyton species.

By Indication Analysis

Increasing Prevalence of Dermatophytosis to Contribute to the Dominance of the Segment

In terms of indication, the market is segmented into dermatophytosis, aspergillosis, candidiasis, and others. Dermatophytosis is a non-fatal superficial infection on skin. Dermatophytosis is anticipated to dominate the market owing to an increase in prevalence of dermatophytosis cases. For instance, according to the National Center for Biotechnology Information (NCBI) in July 2019, the prevalence of dermatophytosis cases is associated with an age group of participants ranging from 11-20 years and 21-30 years.

Candidiasis is the second most dominating segment. Owing to increase in nosocomial infection in the patients being treated in invasive care units for various health problems. Furthermore, aspergillosis is also anticipated to gain a significant share due to increase in treatment of invasive pulmonary aspergillosis which causes fungal infections. The others segment include fungal pneumonia, fungal meningitis, mucormycosis which are also considered to be of high risk fungal infections that are propelling the market growth.

Moreover, emergence of COVID-19 pandemic across the globe is also influencing the market growth. As patients with weak immune systems are at high risk of facing life-threatening fungal infection and can also suffer from respiratory disorders. For instance, invasive aspergillosis infection which is caused due aspergillus spores generally present in the air we breathe. Hence, this can further lead to occurrence of respiratory disorder which is also aiding towards the market growth.

By Route of Administration Analysis

Topical Segment Dominated the Global Market

In terms of route of administration, the market is segmented into oral, topical and parenteral. Among these, the topical antifungal route of administration holds the largest antifungal drugs market share owing to an increase in the adoption of topical drugs globally. Furthermore, the growing use of topical drugs by medical practitioners for dermatological fungal infections is positively impacting the market. As a result of the rise in consumption of topical drugs is prompting the key players to focus on the large production of advanced formulation topical drugs. The oral segment is anticipated to register a relatively higher CAGR during the forecast period. This is owing to the introduction of new formulation drugs that can be consumed easily without the risk of invasive procedures to obtain effective treatment. The parenteral segment also accounts for notable growth due to large consumption of parenteral products offering treatment of invasive aspergillosis fungal infections.

By Distribution Channel Analysis

Increasing Number of Antifungal Drug Prescription to Boost Hospital Pharmacies Growth

Based on distribution channel, the market is classified into retail pharmacies, hospital pharmacies, & stores, and online pharmacies. The hospital pharmacies segment is anticipated to dominate the market. Owing to increase in fungal infected patients results in regular hospital visits for obtaining advanced treatment. The increase in patient's concern for maintenance of hygienic life is boosting the market. Additionally, the retail pharmacies & drug stores segment is also anticipated to emerge as the fastest-growing segment in the market. Owing to the rise in the drug supply to medical professionals, healthcare centers, and others. In addition to this, an increase in the number of patients opting for non-prescription drugs, ease and convenience to the drug, and others are propelling the growth of online pharmacies during the forecast period.

REGIONAL ANALYSIS

The antifungal drugs market in North America accounted for USD 4.61 billion in 2019. North America is anticipated to dominate the market globally. The significant factors responsible for the dominance of the market in the region is due to an increase in hygiene awareness, a rise in the prevalence of patients suffering with fungal infections, adoption of advanced therapeutics, and others. Europe is expected to hold the second-largest market share. owing to an increase in healthcare infrastructure, rise in healthcare expenditure, growing number of patients suffering from fungal infections, and others. Furthermore, Asia Pacific is expected to register the highest CAGR during the forecast period. Due to   the high prevalence of patients suffering from fungal diseases and infections, an increase in R & D activities by key manufacturers, a rise in hospital-oriented infections, government support, and others. For instance, an increase in cases of fungal infections has propelled the Government of India to come up with public-private partnership (PPP) which in turn is largely influencing the growth opportunities of the market in the country. Additionally, major key players entering into the region are also adding impetus to the market. The market in Latin America and Middle East & Africa is anticipated to experience lower growth owing to the unmet needs of healthcare, low awareness associated with hygiene maintenance, and others.

KEY INDUSTRY PLAYERS

Diverse Product Portfolio by Astellas Pharma, Inc. and Merck & Co., Inc. to Aid the Market Growth.

The key players dominating the market are Astellas Pharma Inc.  and Merck & Co., Inc., due to diverse product portfolios and strong presence across the globe. In terms of revenue, Astellas Pharma Inc. holds dominance owing to its revenue generating products such as AmBisome and MYCAMINE for the treatment of Antifungal infections. Furthermore, Merck & Co., Inc. experienced significant upscale across the globe during the forecast period, because of its highly revenue generating products such as Cancidas and Noxafil. Moreover, collaboration between key market players is also supporting the growth of the market. For instance, Pfizer Inc. made an agreement with Basilea Pharmaceutica Ltd. to manufacture and market the product named CRESEMBA (ISAVUCONAZOLE) in China and Asia Pacific.

LIST OF KEY COMPANIES PROFILED:

• Astellas Pharma Inc.


• Merck & Co., Inc.


• Pfizer Inc


• Leadiant Biosciences, Inc.


• McKesson Medical-Surgical Inc


• GlaxoSmithKline plc.


• Novartis AG


• Bayer AG


• Abbott


• Others

KEY INDUSTRY DEVELOPMENTS:

• April 2018 – Sun Pharmaceutical Industries Ltd. launched an Antifungal powder named Abzorb to treat dermatological fungal infections which include ringworm, jock itch, and athlete’s foot. This product is considered to be both prescription and over –the-counter.


• October 2017 – Mylan N.V. launched Caspofungin acetate injection which is the first generic version product of the Merck & Co. and is used for the various high risk fungal infections. The product is majorly used for those who cannot use or respond to the other fungal medications such as amphotericin B.

REPORT COVERAGE

The antifungal drugs market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, drug type, indication, route of administration, and distribution channel. Besides this, the report provides key insights into the market, current trends and highlights major industry developments such as mergers, acquisitions, and collaborations, new product launches, prevalence of fungal infections, and pipeline analysis.  In addition to this, the report also focuses on the major driving factors and restraints that are influencing the market positively over the course of the period.

Report Scope & Segmentation