Antifungal Drugs Market Growth & Trends
The global antifungal drugs market size is expected to reach USD 20.52 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.8% from 2024 to 2030. The increasing incidence of fungal infections worldwide is the key factor stoking the growth of the market. In addition, the rise in the adoption of immunosuppressive and antineoplastic agents, prosthetic devices and grafts, and broad-spectrum antibiotics has resulted in an increased incidence of fungal infections in recent years.
According to statistics published by the Centers for Disease Control and Prevention in 2017, it has been estimated that every year, nearly 220,000 new individuals are affected by cryptococcal meningitis, which is a brain infection and has resulted in 181,000 deaths per year around the world. Most of the deaths were reported in sub-Saharan Africa, due to the high prevalence of HIV/AIDS. This indicates the potential demand for antifungal drugs due to the high prevalence of mycological infections around the globe.
The government authorities in many countries had ordered nationwide lockdowns in order to contain the spread of COVID-19. Similarly, health systems in a number of countries around the world were having trouble maintaining their supply chains. The slowness of the supply chain has also impacted the demand for antifungal medications. As aged people are more prone to infectious diseases and chronic conditions, including HIV and cancer, the rise in the geriatric population worldwide is likely to stir up the demand for antifungals to treat opportunistic fungal infections. The demand for fungistatic agents is estimated to remain strong through 2030 due to mounting cases of fungal infections that are difficult to diagnose, yielding high mortality and morbidity rates.
Request a free sample copy or view report summary:
Antifungal Drugs Market Report
Antifungal Drugs Market Report Highlights
- The Azoles drug class segment dominated the market and accounted for a revenue share of 47.6% in 2023. This dominance is attributed to the influence of key therapeutic agents, including noxafil, vfend, diflucan, and cresemba.
- The Candidiasis segment held the largest market share in 2023 due to rising incidence of the disease in immunocompromised patients and high rate of recurrent infections.
- Aspergillosis is expected to register significant CAGR during the forecast period. Aspergillosis is an infection caused by mold called aspergillosis, which usually affects the respiratory system.
- Oral drugs dosage form led the market in 2023. This is attributed to the fact that certain antifungal medications are designed for oral administration to ensure proper ingestion.
- Hospital pharmacies led the market in 2023. Hospital pharmacies play a key role in ensuring immediate access to crucial medications. They serve both out-patient and in-patient services, facilitating the seamless treatment of fungal infections.
- North America dominated the market and accounted for 40.9% share in 2023. This region dominance is attributed to the highly developed healthcare infrastructure, better affordability, and increasing awareness.
- Asia Pacific is anticipated to witness significant growth during the forecast period. This is owing to the presence of large target population, developing healthcare facilities, and increase in investments by leading market players
Key Antifungal Drugs Companies:
- Novartis AG
- Pfizer, Inc.
- Bayer AG
- Sanofi
- Merck & Co., Inc.
- GlaxoSmithKline plc
- Abbott
- Glenmark
- Enzon Pharmaceuticals, Inc.
- Astellas Pharma, Inc.
