The antifungal drugs market size has the potential to grow by USD 2.50 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by route of administration (topical, oral, and parenteral) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Abbott Laboratories, Bayer AG, Eisai Co. Ltd., Gilead Sciences Inc., GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., Johnson & Johnson, Merck & Co. Inc., Pfizer Inc., and Sanofi.
Browse TOC and LoE with selected illustrations and example pages of Antifungal Drugs Market
The antifungal drugs market is concentrated. The market is highly competitive because of the presence of numerous medium and small-sized companies. These companies offer a diverse range of generic and OTC drugs to meet customer requirements. To gain competitive advantages and increase their market shares, vendors are focusing on product differentiation, distribution agreements, partnerships, and collaborations with end-users, along with other strategies such as aggressive pricing, online marketing, and strategic acquisitions for geographical and portfolio expansion. Abbott Laboratories, Bayer AG, and Eisai Co. Ltd. are some of the major market participants.
Market drivers such as the increasing prevalence of fungal infections will offer immense growth opportunities to the vendors. However, factors such as the increase in multidrug-resistant fungal pathogens will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this antifungal drugs market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this antifungal drugs market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
Eisai Co. Ltd.
Gilead Sciences Inc.
Glenmark Pharmaceuticals Ltd.
Johnson & Johnson
Merck & Co. Inc.
Antifungal Drugs Market: Segmentation by Geography
North America was the largest antifungal drugs market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The accelerated approvals for several formulations and extensive research and development by manufacturers will significantly drive antifungal drugs market growth in this region over the forecast period.
35% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for antifungal drugs in North America. However, market growth in this region will be slower than the growth of the market in Asia and Europe.
Antifungal Drugs Market: Segmentation by Route of Administration
During the forecast period, the topical segment is expected to grow at a moderate rate due to the absence of systemic side effects on topical antifungal usage, low incidence of drug interactions compared to other routes of administration, the convenience of use, and low cost of therapy. The topical segment is expected to show an accelerating growth momentum during the forecast period, mainly due to the increasing incidence of uncomplicated superficial fungal infections led by a sedentary lifestyle and unhealthy living.
Market growth in the topical segment will be faster than the growth of the market in the oral segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the antifungal drugs market size.
Antifungal Drugs Market: Key Drivers and Trends
The rise in the geriatric population and the number of immune-suppressed patients have increased incidences of fungal infection and chronic diseases, respectively. Also, people who have a weak immune system or HIV consumed immunosuppressants for a long time, or have undergone chemotherapy and transplant surgery, are more prone to fungal infections. Hence, the increasing prevalence of fungal infection, especially Candida infections will boost the demand for antifungal medication.
Clinicians are increasingly prescribing combination therapies over monotherapies because of synergism between antifungals. The synergic action of combination antifungals and the flexibility to combine concurrently or sequentially are driving the popularity of antifungal combination for the treatment of fungal infections. This increasing use of antifungal combination is identified as one of the key antifungal drugs market trends that are driving the market growth. The market is expected to record a CAGR of almost 4% during the forecast period.
Abbott Laboratories, Bayer AG, Eisai Co. Ltd., Gilead Sciences Inc., GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., Johnson & Johnson, Merck & Co. Inc., Pfizer Inc., Sanofi are a few of the key vendors in the antifungal drugs market.