Global Antifungal Drugs Market: Overview
The antifungal drugs market is a very successful over-the-counter drug segment, in which robust generic competition is slated to rake in almost 65% to 70% of total market revenues in the near future. The market is characterized by stiff competition both at the global and regional levels and going forward the competition will likely heat up further on account of the foray of many new entrants in the industry.
Antifungal drugs are used to counter fungal infections resulting on account of soggy, unhygienic, and unclean environments in which microscopic organisms such as fungus thrive. Fungi multiply by spreading microscopic spores. The latter either infect the surface of the body such as the skin, or are inhaled and subsequently lead to fungal infections. Fungal infections can harm superficial as well as systemic parts of the body, such as the eye, skin, mouth, and vagina. Systemic fungal infections result from inhalation or ingestion of spores and lead to fungal pneumonia, meningitis, candidaisis, mucormycosis, etc. Fungal infections are mostly non-lethal, but can result in death in rare cases.
In the report, Transparency Market Research provides a detailed analysis of the global market for antifungal drugs, leveraging top-down and bottom-up approaches to estimate the size of the global market. By segmenting the worldwide market based on various parameters, the study presents an in-depth analysis. It also sheds light on the various growth drivers and factors restraining the take-up of antifungal drugs.
Global Antifungal Drugs Market: Trends and Opportunities
At the forefront of driving demand in the global antifungal drugs market is the rising knowledge about fungal infections and the increasing instances of such infections on account of aggravating unhygienic environment in populated cities of the world. Systemic candidiasis, for example, is the most prevalent systemic fungal infection expected to boost growth in the upcoming years. The availability of different antifungal drugs in the market to treat them and the soaring popularity of over-the-counter antifungal drugs for dermal infections has also positively impacted the market. Antifungal drugs aid in deterring fungal cell wall development and disrupt their cell membrane and proliferation of cells. The market for antifungal therapies include powders, drugs, pastes, and ointments. Azoles antifungal drugs hold a dominant share in the market on account of rising awareness about them.
Other factors providing tailwind to the market are favorable government initiatives and corporate funds to boost the industry. Growing healthcare budgets in developing economies are also aiding the market. A recent trend noted by analysts is technological progress in diagnostic tests and devices for more accurate treatment, which further contributes toward market growth.
Countering the growth of the global antifungal drugs market is continued preference for conventional drugs to treat fungal infections. Yet another factor hampering the swift uptake of antifungal drugs is their expensiveness and side effects such as allergies. Diminishing efficacy of the drugs in the face of increasing resistance developed by fungi is another market challenge.
Global Antifungal Market: Regional Outlook
The report segments the market into Asia Pacific, North America, Europe, and the Rest of the World. Among them, North America leads the market with a dominant share. This is because of the major market players being concentrated in the U.S., resulting in extensive research and development in the region for innovating better drugs. Europe follows North America in the anti-fungal drugs market due to the increasing prevalence of fungal infections in the region and development of unique antifungal biopharmaceuticals.
In the near future, Asia Pacific is anticipated to register substantial growth, bolstered by the burgeoning consumer base in the densely populated, swiftly developing economies of India and China. The increasing per capita income, coupled with growing awareness about personal hygiene, and better access to healthcare has stimulated the market in the two nations.
Companies Mentioned in the Report
To present an in-depth assessment of the competition prevailing in the market, the report has profiled some of the key companies operating in the market, such as Merck & Co., Inc., Novartis AG, Sanofi-Aventis, Pfizer, Inc., Bayer AG, Enzon Pharmaceuticals, Inc., GlaxoSmithKline plc, Abbott, and Sigma-Aldrich. In order to capture a greater share in the market, the players are increasingly focusing on product development and carefully considered deal-making.
Global Antifungal Drugs Market is segmented as:
Global Antifungal Drugs Market, by Geography
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.