Global Echinocandins Market: Overview

Echinocandin is a new class of antifugal agents that work by inhibiting cell wall synthesis. These agents act by inhibiting β-1, 3-glucan synthase complex. Caspofungin is the first approved echinocandin candidate. Caspofungin was approved by the U.S. FDA for the treatment of invasive candidiasis in patients resistant to other antifungal agents, empirical therapy in febrile neutropenia, esophageal candidiasis, and certain forms of candidemia. Echinocandins offer several advantages over other antifungal agents. The potential benefits of echinocandins include less risk of drug–drug interactions, novel mechanism of action, and lower incidence of adverse effects.

Global Echinocandins Market: Key Trends

The global echinocandins market is projected to grow at a rapid pace during the forecast period. Echinocandins have been studied extensively and offer advantages such as broad spectrum of activity including strains of fungi resistant to other antifungal agents and fewer side effects with no hepatotoxicity and nephrotoxicity compared to macrolide and azole antifungals. The expanding indications of echinocandins in secondary fungal infections have shown promising results which is expected to drive the global echinocandins market.

Global Echinocandins Market: Segmentation

The global echinocandins market can be segmented based on drug type, indication, and region. In terms of drug type, the market can be classified into caspofungin, micafungin, and anidulafungin. Based on indication, the global echinocandins market can be categorized into esophageal candidiasis, candidemia with invasive candidiasis, febrile neutropenia, invasive aspergillosis, and others. In terms of region, the global echinocandins market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Candidemia is a major cause of mortality in immunosuppressed patients due to rise in invasive fungal infections. These patients show reduced susceptibility to azole antifungals. Fluconazole has been the mainstay of the treatment of candedimia patients; however, it is losing ground due to increase in resistance among Candida species. Moreover, aspergillosis is a major contributor of morbidity in patients with hematological malignancies and those undergoing transplants. Amphotericin B used against invasive fungal infections leads to nephrotoxicity and high incidence of infusion related adverse effects. Introduction of echinocandins against this backdrop is a promising development in antifungal armamentarium.

Global Echinocandins Market: Regional Analysis

North America is projected to account for the largest share of the global market in terms of revenue during the forecast period. High research and development activities in the field of antifungal drugs, ongoing clinical trials with echinocandins, and increase in incidence of fungal infections in the region are the major factors attributed to the high market share of the region. According to the U.S. Department of Health & Human Services, invasive candidiasis is one of the common health care-associated infection. Around 46,000 cases of invasive candidiasis are reported in the U.S. each year. Europe is anticipated to account for the second largest share of the global market owing to high awareness among people about the treatment options and rise in prevalence of chronic diseases. Asia Pacific is expected to witness strong growth during the forecast period. Rise in government initiatives to improve health care, increase in geriatric population, surge in disposable income, and high investment by key players in the emerging markets in Asia Pacific are likely to fuel the growth of the echinocandins market in the region.

Global Echinocandins Market: Competitive Landscape

The global echinocandins market is highly fragmented due to presence of large number of global as well as new players. Major players operating in the market are Alkem Laboratories Ltd., Glenmark Pharmaceuticals Ltd., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Mylan N.V., Merck & Co., Inc., Fresenius SE & Co. KGaA, Xellia Pharmaceuticals, and MSD Pharmaceuticals Pvt. Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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