Antifungal drugs market: Decreasing effectivity of the drugs in the face of accelerating resistance developed by fungi to be a significant market challenge
Antifungal drugs Market Size, Share and Growth.
Antifungal drugs Market worth was USD 13.06 Billion in 2018. It was expected to reach at a CAGR of 3.68% to reach USD 15.65 Billion by 2023.
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Antifungal drugs Market Overview:
The antifungal drugs find and eliminate fungal pathogens resulting in a negligible impact on the body. The fungal infection within the body is caused because of the unsanitary and unclean environments whereby fungal agent thrives. These agents grow by spreading spores that subsequently lead to infection on the skin (superficial) or when inhaled (systemic)-fungal infections. The fungal infection leads to candidiasis, fungal pneumonia, mucormycosis, and other diseases. These infections are generally non-lethal but can lead to death in rare cases.
Antifungal drugs Market drivers and restraints:
At the forefront of driving call in the global antifungal drugs market is the increasing awareness regarding the fungal infections and also the rising instances of such infections on account of exacerbating unhygienic atmosphere in inhabited cities of the globe. General fungal infection, for example, is the most common systemic fungal infection is estimated to fuel the growth in the coming years. Countering the expansion of the world antifungal drugs market is the continued preference for conventional drugs to treat fungal infections. One more issue hampering the swift uptake of antifungal drugs is their costliness and side effects like allergies. Decreasing affectivity of the medicine within the face of rising resistance developed by fungi is another market challenge.
Antifungal drugs Market segmented as:
By Drug type:
• Echinocandins
• Azoles
• Polyenes
• Allylamines
• Others
By Therapeutic indications:
• Aspergillosis
• Dermatophytosis
• Candidiasis
• Others
By Dosage forms:
• Powders
• Ointments
• Drugs
• Pastes
By Infection Type:
• Superficial
• Systemic antifungals
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Geographical analysis:
Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Among these, North America dominates the market with a large share. This is due to the key market players being concentrated in the U.S., leading to extensive research and development in the region for innovating better drugs. Europe follows North America within the antifungal drugs market because of the rising prevalence of fungal infections in the region and development of distinctive antifungal biopharmaceuticals. In the coming years, Asia Pacific is expected to register high growth, bolstered by the burgeoning customer base in the densely inhabited, swiftly growing economies of India and China
Important market players:
Major industries operating in the market are Merck & Co., Inc., Novartis AG, Sanofi-Aventis, Pfizer, Inc., Bayer AG, Enzon Pharmaceuticals, Inc., GlaxoSmithKline plc, Abbott, and Sigma-Aldrich.
The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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