Antifungal Drugs Market is expected to reach US$ 13,997.4 Million in 2028

Publisher: The Insight Partners

The global antifungal drugs market is expected to reach US$ 13,997.4 million in 2028; registering at a CAGR of 3.3% from 2022 to 2028, according to a new research study conducted by The Insight Partners

Azoles Segment, by Drug Type, to Account for Largest Share of Antifungal Drugs Market during 2022–2028

According to our latest study on “Antifungal Drugs Market Forecast to 2027 – Global Analysis – by Infection Type, Drug Type, Therapeutic Indication, and Dosage Form,” the market is expected to grow from US$ 11,135.3 million in 2021 to US$ 13,997.4 million in 2028; it is expected to grow at a 3.3% from 2022 to 2028.

The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the antifungal drugs market is primarily attributed to rising prevalence of fungal infections; increasing incidences of cancers, HIV, and hospital-acquired infections; and favorable government initiatives to combat the antifungal diseases. However, a lack of awareness regarding fungal infections is hampering the market growth.

Based on infection type, the antifungal drugs market is divided into superficial fungal infection and systemic antifungal infection. Based on drug type, the global antifungal drugs market is segmented into echinocandis, azoles, polyenes, allylamines, and others. In 2021, the azoles segment held the largest share of the market. However, the polyenes segment is expected to grow at the fastest rate during the forecast period. Azole antifungals are a group of medicines that contain an azole ring and prevent the growth of a wide range of fungi. Azole antifungal agents can be used to treat fungal infections of the body and skin, including athlete's foot, nail infections, ringworm, and vaginal candidiasis. Based on the dosage form, the market is segmented into drugs, ointment, powder, and others. Based on therapeutic indication, the market is segmented into aspergillosis, dermatophytosis, candidiasis, and others.

Antifungal Drugs Market, by Geography, 2021%)

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Source: The Insight Partners Analysis

Based on region, the global antifungal drugs market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The US is the largest market in North America. Asia Pacific is expected to exhibit the fastest growth due to growing healthcare infrastructure and evolving pharmaceutical & biopharmaceutical industries. Further, India is expected to grow at the highest CAGR in the Asia Pacific antifungal drugs market during the forecast period. The study conducted in 2015 by the Postgraduate Institute of Medical Education and Research (PGIMER) stated that 7 out of per 1,000 patient is affected with fungal infection. Also, the country has the presence of various pharmaceutical companies working on generic and innovative drug formulations. In addition, the pharmaceutical industry in the country is growing rapidly, which is expected to propel the market growth during the forecast period.

Pfizer Inc.; Sanofi S.A.; Gilead Sciences, Inc.; Merck and Co., Inc.; Scynexis Inc.; Novartis International AG; Abbott Laboratories; Bayer AG; Glenmark Pharmaceutical; and Glaxosmithkline Plc. are among the leading companies operating in the global antifungal drugs market.

By geography, the global market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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