Antifungals Market Value To Reach $11.96 Billion By 2022 | Report By TBRC

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Nov 19, 2019, 14:10 ET

LONDON, Nov. 19, 2019 /PRNewswire/ -- Antifungal drugs are used to detect and eliminate fungal pathogens. The fungal pathogens thrive in the body under unhygienic and unclean environments. These drugs are also known as an antimycotic medication, used to treat and prevent mycosis such as athlete's foot, ringworm, candidiasis (thrush), serious systemic infections such as cryptococcal meningitis, and others. The global antifungals market was valued at about $9.4 billion in 2018 and is expected to grow to $11.96 billion at an annual growth rate of 6.2% through 2022. North America was the largest region in the antifungals market in 2018, followed by Europe and Asia Pacific. North America is expected to remain the largest during the next five years. The antifungals market in Asia Pacific is forecast to register the highest annual growth rate during 2018-2023. The antifungals market can be sub-segmented by product type into azoles and others. Request A Sample Of This Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=2442&type=smp

Major players in the antifungals market are Pfizer, Novartis, Merck & Co., Bayer Healthcare, and Abbott Laboratories. Drug developers and manufacturers are scaling up the various departments such as research and development, marketing, and manufacturing through collaborations and strategic partnerships with other companies and research institutes, to expand their product portfolios. So, companies in the anti-infective drugs market should consider strategic collaborations to broaden their scope and product portfolios to increase their revenues and stay competitive in the market.

Antifungal drugs manufacturers are offering skimming prices for branded drugs. The discovery, development and manufacturing processes of branded drugs generally require high investments. As a result, companies in the market offer the branded drugs at the highest initial prices, and implement other pricing strategies to ensure the product stays competitive at a high price. Price skimming is a pricing strategy in which a company charges a high initial price and then gradually lowers the price to attract more price-sensitive customers. It is used to maximize profits when a new product is introduced in the market. Manufacturers and marketers of branded drugs should consider adopting the price skimming strategy for branded drugs. They should price these branded drugs high to recover the high costs incurred during drug development and manufacturing. Browse Complete Report @ https://www.thebusinessresearchcompany.com/report/antifungals-global-market-report

Pharmaceutical companies and federal governments are increasingly working together in partnerships and collaborations to provide funding and implement incentive programs for the research and development (R&D) of anti-infective drugs. These partnerships provide financial and technical assistance across different clinical development phases to pharmaceutical companies. Programs such as the Innovative Medicines Initiative's (IMI's) New Drugs for Bad Bugs (ND4BB) program, Joint Programming Initiative on Antimicrobial Resistance (JPIAMR), and Biomedical Advanced Research and Development Authority's (BARDA) Broad Spectrum Antimicrobials Program have been implemented for the development of novel antibiotics by focusing on R&D gaps. Similarly, the Global Antibiotic Research and Development Partnership (GARDP) was set up by the World Health Organization (WHO) and the Drugs for Neglected Diseases Initiative (DNDi) in May 2016. This R&D initiative focuses on the development of new or improved antibiotic treatments.

Antifungal Drugs Point Prevalence Survey

A point prevalence survey was conducted in Turkey, in 2018. According to the survey, antifungal drugs were mostly prescribed in pediatric hematology and oncology (PHO) units (35.2%), followed by neonatal ICUs (NICUs) (19.6%). The other units prescribing antifungal drugs included pediatric services (18.3%), pediatric ICUs (PICUs) (14.6%) and hematopoietic (HSCT) units (7.3%). According to the same survey, the antifungals were used for prophylaxis in 48.8% of patients and about 50% of patients were treated with antifungal drugs based on observation. Among 50% of patients, who were treated post observation, around 18.8% of patients were prescribed an antifungal therapy and 31.2% of patients were targeted for the treatments.

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Browse a set of similar reports offered by TBRC:

Pharmaceutical Drugs Market By Segments (Musculoskeletal Disorders Drugs, Cardiovascular Drugs, Oncology Drugs, Anti-Infective Drugs, Metabolic Disorder Drugs, Central Nervous System Drugs, Genito-Urinary Drugs, Respiratory Diseases Drugs, Gastrointestinal Drugs, Hematology Drugs, Dermatology Drugs, Ophthalmology Drugs) - Global Forecast To 2022 @ https://www.thebusinessresearchcompany.com/report/pharmaceutical-drugs-market

Anti-Infective Drugs Market By Type Of Product (Antibiotics, Antivirals, Antifungals And Others (Including Anthelminthic And Antiprotozoal Drugs)), Opportunities And Strategies – Global Forecast To 2022 @ https://www.thebusinessresearchcompany.com/report/anti-infective-drugs-market

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