Fungal Infections Drive Demand for Anti-fungal Therapies, Market to Reach US$22.8 Billion by 2033 | Future Market Insights, Inc.

• Availability and effective adoption of generic antifungal drugs and therapies enhance treatment procedures, driving market growth
• Report covers leading companies, revenue and volume forecasts, company rankings, competitive landscape, growth factors, trends, and pricing analysis

Global Anti-fungal Therapy Market Forecast by Azoles, Polyene macrolides, and Others from 2023 to 2033.

NEWARK, Del., Nov. 14, 2023 /PRNewswire/ -- The global antifungal therapy market was valued at US$13.8 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2033, reaching US$22.8 billion by 2033. The azoles segment led the market by drug class in 2022, with a share of approximately 29.1%.

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The increasing fungal disease rate has forced the patient to take anti-fungal drugs, driving the market growth. For instance, on May 20, 2020, according to Fungal Infections in Humans, around 1.7 million people die from serious fungal infections each year, which cause over 150 million cases worldwide.

The rising demand for anti-fungal drugs that can be used effectively on the body without side effects contributes to market opportunities. So, companies are focusing on research and development activities for formulation and development.  Furthermore, antifungal drugs are widely acceptable by several patients as these can be used as an effective medication for fungal infection.

Most of the anti-fungal therapies/drugs require a prescription from a doctor. However, a few are available as over-the-counter (OTC) drugs in emerging countries, expected to drive the anti-fungal therapy market during the forecast period. For instance, on 20 January 2022, according to The Economic Times report, as part of a new over-the-counter (OTC) drug policy, India will soon permit the sale of some drugs without a prescription.

Pharmaceutical manufacturers are concentrating on developing new drug discoveries, formulation of tablets, and different drug dosages. For instance, on 16 December 2022, The U.S. Food and Drug Administration granted final approval to Sun Pharma's new drug for application in antifungal medications.

Antifungal Therapies Market Research Report Scope:

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Key Takeaways from the Market Study

• The azoles drug class is the leading market segment, holding approximately 29.1% market value, as it is known as a broad range of antibiotics used to treat systemic fungal infections.
• The candidiasis segment leads in terms of indication with a market value of 35.0%. A fungus called Candida can majorly infect the skin and other body parts.
• By route of administration, the topical segment is leading the global anti-fungal therapy market and is expected to continue to do so with a projected CAGR rate of 4.7% through 2033.
• By distribution channel, retail pharmacies are leading the global anti-fungal therapy market with a share of 44.0%.
• North America is considered the leading region with a market share of 32.2%, owing to the high prevalence of fungal diseases like histoplasma among the population.

"With increasing formulation and development, rising incidence of fungal diseases, and growing prescription rate for anti-fungal drugs, the anti-fungal therapy market is expected to witness significant expansion over the forecast period," says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).

Market Competition

The market for anti-fungal therapies is fragmented, and there exists a number of local, upcoming, as well as established players. Key players have initiated marketing initiatives to educate the elderly population about the benefits of anti-fungal therapies while also attempting to improve the drugs with different specifications.

Recent Developments

• On July 5, 2019, Hetero Healthcare Ltd., a pharmaceutical company headquartered in Hyderabad, India, launched GOCAN I.V Fluconazole, which is an anti-fungal drug for the treatment of both systemic and superficial fungal infections.
• On May 12, 2020, Fresenius Kabi in the United States launched an antifungal agent micafungin, which is an intravenous drug. By launching the drug, Fresenius Kabi has expanded its product portfolio in anti-fungal drugs segment.

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the blood glucose monitoring devices market in its latest study, presenting a historical demand assessment of 2017 to 2022 and projections for 2023 to 2033. The global blood glucose monitoring devices market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on the drug class – (azoles, polyene macrolides, echinocandins, allylamines and others), indication (dermatophytosis, aspergillosis, candidiasis, and others), route of administration (oral, topical, and parenteral), distribution (retail pharmacies, hospital pharmacies, online pharmacies), and across seven key regions of the world.

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About Healthcare Division at Future Market Insights 

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here. 

About the Author:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.

Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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