USD 14.4 billion
Report ID:
SQMIG35J2113 |
Region:
Global |
Published Date: May, 2024
Pages:
219
|Tables:
94
|Figures:
76
Global Antifungal Agents Market size was valued at USD 14.4 billion in 2022 and is poised to grow from USD 14.98 billion in 2023 to USD 20.5 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).
Antifungal agents are drugs that selectively eliminate fungal pathogens from host with minimal toxicity. Growing incidence of fungal infections and rising demand for fungal infection medications are projected to bolster the demand for antifungal agents across the forecast period. Advancements in antifungal drug discovery and development processes are also forecasted to augment antifungal agents market growth trajectory over the coming years. High investments in antifungal drug research are also a key factor that will bolster the sales of antifungal agents in the future. Underdeveloped and developing countries will be highly lucrative markets for antifungal agent providers going forward. On the contrary, antifungal resistance and limited spectrum of antifungal agents are projected to be key restraints for antifungal agents market development in the long run.
Global Market Size
USD 14.4 billion
Largest Segment
Azoles
Fastest Growth
Echinocandins
Growth Rate
4% CAGR
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The global antifungal agents market is segmented based on drug type, application, therapeutic condition, and region. In terms of drug type, the market is bifurcated into echinocandins, azoles, ployenes, allylamines, and others. Based on application, the market is divided into powders, ointments, drugs, and pastes. In terms of therapeutic condition, the market is segmented into aspergillosis, dermatophytosis, candidiasis, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Drug Type
Azoles are projected to emerge as the dominating segment in the global antifungal agents market. The use of azoles to treat a wide variety of fungal infections is what allows this segment to account for a high market share. Fewer side effects and enhanced absorption are also key benefits that promote the use of azoles and help its dominance.
Demand for echinocandins is estimated to rise at a rapid pace over the coming years as incidence of complex fungal infections increases. Growing use of echinocandins for treatment of complex fungal infections is projected to boost market growth in the future.
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North America is estimated to account for a substantial share of the global antifungal agents market owing to rising cases of fungal infections in this region. of a developed healthcare infrastructure and growing investments in the R&D of novel antifungal drugs and medications are also contributing to the dominance of this segment over the coming years. Increasing cases of antifungal resistance in this region will also boost market growth going forward. The United States is forecasted to spearhead the demand for antifungal agents in the long run.
Meanwhile, the demand for antifungal agents in the Asia Pacific region is slated to rise at a rapid pace over the coming years. Rising awareness regarding fungal infections, high investments in healthcare infrastructure development, and growing availability of novel antifungal agents are all helping this region to maintain its fastest-growing stance in the global landscape. China, India, Indonesia, and Japan are slated to be the most lucrative markets for antifungal agent providers in the Asia Pacific region.
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Drivers
High Prevalence of Fungal Infections
Advancements in Antifungal Drug Development
Restraints
Antifungal Resistance
Limited Spectrum
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Antifungal agent manufacturers should invest heavily in R&D of novel agents and drugs that can be used for a wide variety of fungal infections. Antifungal agent companies can collaborate and partner with each other to fast track the development and launch of novel products going forward.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising incidence of fungal infections and advancements in fungal drug development are key factors promoting the demand for antifungal agents. Antifungal resistance and limited spectrum of antifungal agents are estimated to be the key constraints for antifungal agents market growth across the forecast period and beyond. North America leads the global sales of antifungal agents owing to the presence of a developed healthcare infrastructure and rising fungal infection prevalence. Antifungal agents market players should collaborate and partner with personalized medicine developers to enhance their future market growth potential.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 14.4 billion |
Market size value in 2031 | USD 20.5 billion |
Growth Rate | 4% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Antifungal Agents Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Antifungal Agents Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Antifungal Agents Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Antifungal Agents Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35J2113