Anti-Fungal Drugs Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Anti-Fungal Drugs Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The anti-fungal drugs market is expected to witness a CAGR of 3.5% during the study period.

The COVID-19 pandemic has had a profound effect on the market. As import and export operations are limited due to job closures, there has been a significant impact on the market due to shortages and unavailability of consumer goods and supplies. However, this allowed local producers to increase their presence in the market. Disruption of the supply of goods and shortages of medical supplies has been observed in several countries due to temporary closure of production facilities, restrictions on exports, increased demand for the COVID-19 drug, and drug collection by individuals.

Governments have taken several steps in response to disruptions to the supply chain. For example, the European Medicines Agency issued guidelines to pharmaceutical companies regarding the regulatory framework for dealing with the challenges of this epidemic. These measures were aimed at reducing the impact of the epidemic on the production and supply side. Emerging reports from 2020 suggest that about one-third of patients with severe COVID-19 infection required intensive care who may be fighting another fatal infection: Aspergillosis, a deadly fungal infection caused by Aspergillus fungus. Therefore, researchers have found that patients with COVID-19 may be at greater risk for lung infections caused by fungal respiration. So scientists are working to do further research in this area. In the second wave of COVID-19 infections in India, scientists began diagnosing COVID-19 patients with Mucormycosis. In May 2021, the Director-General of Drugs of India (DCGI) withdrew applications from five fungal drug companies Amphotericin B, which is used to treat mucormycosis. Therefore, this pandemic is expected to increase the demand for OTC products in the short term, but the decline in the number of drugs and drugs for diagnosis of disruptions in the supply chain of medical supplies could lead to a temporary setback in the market.

Major factors contributing to the growth of the fungal drug market include increased awareness of many fungal infections, increasing the number of over-the-counter antiretroviral (OTC) drugs, and increased use of antimicrobial drugs in developing countries. With the growing popularity of over-the-counter (OTC) drugs such as clotrimazole, econazole, ketoconazole, miconazole, and amorolfine, many patients are found to be taking OTC drugs in order to obtain a prescription from a health professional. An increase in onychomycosis cases, a fungal infection of the fingers and toes, is also expected to increase the market growth. For example, according to an article published by Myron A. Bodman at the National Institute of Health 2020, onychomycosis was on the rise worldwide, and the prevalence rate ranges from 1% to 8% of total nail infections. In addition to the same source, patients are prone to dermatophyte infections in the autosomal dominant pattern, and risk factors associated with this condition are aging, diabetes, tinea pedis, psoriasis, and a lack of immunity, among others. In addition, according to the article “High prevalence of mixed diseases on global onychomycosis,” published in September 2020, the prevalence of onychomycosis was estimated at 10% worldwide, and the most contagious organism was Trichophyton rubrum. The increased burden of diseases such as onychomycosis is expected to increase market growth over the forecast period.

Key Market TrendsAzoles Segment Expected to be Among the Major Contributors to the Market

Research on fungal drugs is on the rise, thanks to the development of new antifungal drugs using the azole group. Synthetic azoles and semi-synthetic compounds are widely used for more fungal infections and infections. These drugs are used to treat thrush, yeast infection, candidiasis, aspergillosis, tinea versicolor, athlete's foot, jock itch, ringworm, fungal infections, systemic mycosis, and seborrheic dermatitis. The azole antifungal group includes two phases triazole (fluconazole, itraconazole, voriconazole, posaconazole, and isavuconazole) and imidazoles (ketoconazole). Triazoles has a wide range of applications in the treatment of external fungal infections and the system. The azole group provides a broad spectrum of activity and improved safety standards. Medications have fewer side effects, worse drug interactions, and improved absorption and distribution properties. The above-mentioned benefits of azoles have contributed to their control over other components. Soazoles are currently the most widely used and widely read class of antifungal agents. Medications are available in a variety of forms (capsule, cream, sterile IV solution, ingredient, vaginal cream, and tablet).

The development and innovation of such potential drugs promote the competitiveness of the pharmaceutical market. Your sale of both established agents and newly launched antifungal agents is important. In 2019, Mayne Pharma announced the launch of the TOLSURA (SUBA-itraconazole) 65mg capsule in United States. TOLSURA is a formulation of itraconazole that has been shown to treat fungal infections of the system, including blastomycosis, histoplasmosis, aspergillosis, and others. Therefore, all of these factors are expected to contribute to partial growth in the forecast period.

However, there are already reported problems, such as growing tensions between the Candida and Aspergillus species, especially in azoles, which are believed to be driven by the use of azoles in agriculture. Many developed countries also see high levels of infection, which is expected to increase market demand.

North America Expected to Account for the Largest Market Share

United States is one of the most economically developed countries in the world. It currently holds a large portion of the market. Fungal infections in the US have presented challenges to health authorities in the country. According to the Centers for Disease Control and Prevention (CDC), resistance to certain strains of Candida (which occurs as a common cause of blood-related infections in United States) has been noted. About 7% of all Candida bloodstream tests in the CDC are not resistant to fluconazole. This view has remained strong for the past two decades. However, resistance to echinocandin has increased. In addition, drug-resistant strains are also prevalent in the country. Also, the number of aging people is growing in United States. According to the World Population Aging 2019 report, about 53,340 people were 65 years and older by 2019, and that number is expected to reach 70,842 by 2030, representing about 20% of the country's population. This population is more susceptible to chronic diseases, such as cancer, and thus damage the immune system. Therefore, the population could be more susceptible to fungal infections, which will drive the need for anti-fungal drugs in the country. This population is more susceptible to chronic diseases, thus, putting the immune system at risk. Therefore, the population is more susceptible to fungal infections, which will drive the need for anti-fungal drugs in the country. The incidence and mortality associated with fungal infections have remained virtually unchanged for more than a decade, despite significant advances in the field of fungal treatment. This continued level of fungal spread will provide an opportunity for pharmacists in the country to develop an effective novel and anti-fungal novel, leading to market growth.

Competitive Landscape

The market studied is moderately consolidated due to the presence of a few small and some very big players. Some of the market players include Abbott Laboratories, Bayer AG, Astellas Pharma Inc., Glenmark, GlaxoSmithKline PLC, Merck & Co. Inc., Novartis AG, and Pfizer Inc.

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