The growing threat of fungal infections among a considerable chunk of the global populace is estimated to bring considerable growth prospects for the antifungal drugs market during the forecast period of 2021-2031. In addition, the cases of nosocomial or hospital-acquired infections are also increasing at a rapid pace. These factors are anticipated to bring extensive growth prospects for the antifungal drugs market.
The expanding awareness about the importance of treating fungal infections and an increase in the demand for drugs associated with combating the infections is helping in increasing the growth opportunities of the antifungal drugs market. Furthermore, the importance of personal care is driving many people towards concentrating on keeping immune from fungal infections at bay. All these factors bode well for the growth of the global market.
Technological developments are playing a crucial role in the growth of the antifungal drugs market. The use of modern technologies like nanotechnology to deliver enhanced patient outcomes is boosting the growth prospects of the antifungal drugs market. As per the data by the Centers for Disease Control and Prevention (CDC), nearly 1.7 mn of hospitalized people suffered from nosocomial infections in 2018. These statistics indicate the growing need for antifungal drugs. All these factors are estimated to bring promising growth for the antifungal drugs market.
Transparency Market Research brings a detailed report on the antifungal drugs market with all the essential factors and aspects necessary for the stakeholders. The report on the antifungal drugs market has varied information on different points related to the growth opportunities. Geographical dimensions, competitive insights, current trends, latest developments, and the restraints are included in the report. The report also highlights the impact of COVID-19 on the antifungal drugs market.
Collaborations and product developments are crucial for the growth of the antifungal drugs market. The players in the antifungal drugs market are involved in various collaborations like mergers, acquisitions, joint ventures, and partnerships. In addition, research and development activities also form an important part of the antifungal drugs market growth trajectory. The players indulge in these activities for developing new strategies that boost innovations and provide state-of-the-art drugs to the patients. These activities ultimately influence the growth prospects of the antifungal drugs market.
Some well-entrenched players in the antifungal drugs market are Pfizer Inc., Sanofi-Aventis, Sigma-Aldrich, GlaxoSmithKline Plc, Merck & Co., Enzon Pharmaceuticals, Abbott, and Bayer AG.
The high prevalence of fungal infections in developing countries is expected to fuel the growth of the antifungal drugs market. Countries having poor hygiene standards are often gripped by expansive fungal disease outbreaks. In addition, people having weak immunity are more prone to such infections. Such conditions are estimated to emerge as a breeding ground for the growth of the antifungal drugs market.
The use of antifungal drugs having less side-effect is anticipated to bring substantial growth prospects for the global market. Drugs like imidazoles and triazoles assure enhanced safety levels and have low serious drug interactions and fewer side effects. These benefits may augur well for the growth trajectory.
Among all the regions, North America is prognosticated to be on the forefront in terms of growth share for the antifungal drugs market. The growing awareness about hygiene maintenance and high number of patient pool suffering from fungal infections may prove to be beneficial factors. Furthermore, the support of the government bodies in funding research for antifungal drugs is also estimated to add value to the growth structure of the antifungal drugs market in North America.
Asia Pacific is also expected to invite considerable growth opportunities for the antifungal drugs market. A rise in hospital-acquired infections and the increasing public-private partnerships in countries like India is likely to emerge as a prominent growth factor for the antifungal drugs market.