Global Antifungal Agents Market Report 2022: Rising Incidences of Fungal Diseases Driving Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Antifungal Agents Market Research and Forecast, 2022-2028” report has been added to ResearchAndMarkets.com’s offering.

The global antifungal agents market is anticipated to grow at a significant CAGR of nearly 3.5% during the forecast period. Antifungal agents prevent and destroy the growth of fungi that are responsible for several diseases such as aspergillosis, ringworm, and skin infection, among others. Antifungal drugs include azoles, polyenes, echinocandins, and allylamines.

Antifungal agents are a class of drugs that are used to detect and eliminate fungal infections from the body with minimal side effects. The major factor contributing to the growth of the market include the rising number of patients suffering from hygiene-related issues in emerging countries. However, the availability of alternative treatments is expected to hinder the growth of the market.

Another major factor contributing to the growth of the market is the rising incidences of fungal diseases. Fungal disease causes serious illness and death and many of them go undiagnosed. There is no government surveillance for common fungal infections such as ringworm and vaginal candidacies.

According to the 2019 Antibiotic Resistance Threats report, the Centre for Disease Control and Prevention (CDC) stated that each year in the US, there are more than 2.8 million antibiotic-resistant infections and more than 35,000 people die as a result. The report prioritizes bacteria and fungi into one of four categories based on level of concern: Urgent, Serious, Concerning, and Watch List, with urgent being the highest threat level. Infectious disease is responsible for more than 8.4 billion mortalities globally and is accounted for two of the World Health Organization’s (WHO) top ten causes of mortalities globally.

Segmental Outlook

The global antifungal agents market is segmented based on drug class, dosage type, and route of administration. Based on drug class, it is segmented into polyene, echinocandins, allylamines, and azole. Based on dosage type, it is further classified into powders, ointments, and drugs. Based on the route of administration, it is further classified into parenteral, topical, and oral.

Azole Segment Holds Significant Share in the Market

In 2020, the Azole group segment holds the largest share in the market and is also anticipated to grow during the forecast period. Azoles are synthetic and semi-compounds that are used for the treatment of invasive fungal infections. The drug is used to treat yeast infection, candidiasis, aspergillosis, ringworm, nail fungus, fungal infections, mycosis, thrush, and tinea versicolor. Additionally, the drugs are available in different forms such as oral tablets, oral capsules, cream, vaginal cream, sterile IV solution, and tablets.

Market Players Outlook

Key players operating in the market include Abbott Laboratories, Inc., Pfizer Inc., and Bayer AG, among others. These companies adopt various strategies such as partnership & collaborations, finding a new market or product innovations in their core competency to stay competitive in the market.

For instance, in April 2021, Pfizer acquired Amplyx Pharmaceuticals, Inc. which is a privately-held company with its focus on the development of therapies for debilitating and life-threatening diseases. Additionally, in April 2021, Merck, known as MSD acquired Pandion Therapeutics Inc. the acquisition was completed through a merger of Merck’s wholly-owned subsidiary Pandion, and at the end of the merger, Pandion became a wholly known subsidiary of Merck. The acquisition will comprehend the product portfolio of Merck and will benefit patients, surgeons, and healthcare systems.

Key Topics Covered:

1. Report Summary

2. Market Overview and Insights

3. Competitive Landscape

4. Market Determinants

5. Market Segmentation

6. Regional Analysis

7. Company Profiles

Companies Mentioned

• Abbott Laboratories, Inc.
• Astellas Pharma Inc.
• Basilea Pharmaceutica Ltd.
• Bayer Healthcare LLC
• Bristol-Myers Squibb Co.
• Cadila Healthcare Ltd.
• Cosmo Pharmaceuticals N.V.
• Dr. Reddy’s Laboratories Ltd.
• Gilead Sciences, Inc.
• Janssen Pharmaceutica NV
• Mayne Pharma Group Ltd.
• Merck & Co., Inc.
• Pfizer Inc.
• Sanofi-Aventis Groupe SA
• SCYNEXIS, Inc.
• Sumitomo Dainippon Pharma Co., Ltd.
• Sun Pharmaceutical Industries Ltd.
• Teva Pharmaceutical Industries Ltd.
• Viatris Inc.

For more information about this report visit https://www.researchandmarkets.com/r/16vflj

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