Antifungal Drugs Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis

Antifungal Drugs Market Forecast to 2028 - Global Analysis by Infection Type (Superficial Fungal Infection and Systemic Fungal Infection), Drug Type (Echinocandins, Azoles, Polyenes, Allylamines, and Others), Therapeutic Indication (Aspergillosis, Dermatophytosis, Candidiasis, and Others), and Dosage Form (Drugs, Ointment, Powder, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Oct 2023

  • Report Code : TIPRE00003745
  • Category : Pharmaceuticals
  • Status : Upcoming
  • No. of Pages : 169
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The global antifungal drugs market is expected to grow from US$ 11,135.3 million in 2021 to US$ 13,997.4 million in 2028; it is estimated to grow at a CAGR of 3.3% from 2022 to 2028.

Antifungal drugs are used for treating common fungal infections such as fungal nail infections and vaginal infections that appear on the external surface of the body and other fungal invasive infections that occur inside the tissue of the body or in an internal organ such as the lungs and brains. It works against the fungal infection by either killing the fungal cells or constraining their growth. 

The antifungal drugs market is attributed to the rising prevalence of fungal infections; increasing incidences of cancers, HIV, and hospital-acquired infections; and favorable government initiatives to combat the antifungal diseases. However, a lack of awareness regarding fungal infections is hampering the growth of the market.

The antifungal drugs market is segmented on the basis of infection type, drug type, therapeutic indication, dosage form, and geography. The report offers insights and in-depth analysis of the antifungal drugs market, emphasizing various parameters such as market trends, technological advancements, and market dynamics, as well as the competitive landscape analysis of leading market players.

Strategic Insights

Lucrative Regions of Antifungal Drugs Market

Lucrative Regions of Antifungal Drugs MarketMarket Insights

Rising Prevalence of Fungal Infections Bolsters Antifungal Drugs Market Growth

Fungal infections are mainly caused due to microscopic fungi, which are commonly found in the atmosphere. According to the Centers for Disease Control and Prevention (CDC), in the US, from 2013 to 2017, the average incidence of fungal infection was ~9 per 100,000 people. Candidemia is among the most common bloodstream infections in the US. CDC predicts that approximately 25,000 cases of candidemia occur across the country every year. There has been significant variation in the rates of candidemia by age group. The rates have reduced considerably in infants. Candidemia rates are majorly high in people aged above 65 and older. The difference in the incidence of candidemia is due to age, race, alteration in underlying circumstances, socioeconomic status, and other factors.

Moreover, due to the tropical climate, South Asia has a high frequency of fungal infections. For instance, according to a report published by the Down To Earth organization in 2015, infection from yeast is 0.8 among 1,000 patients in the US. Moreover, the incidence is 0.2 and 0.9 per 1,000 patients in Europe and Australia, respectively. However, in India, approximately 1-12 cases occur in every 1,000 patients that are affected by the fungal infection. Therefore, the demand for antifungal drugs is increasing owing to providing treatment that helps maintain the proper immunity of the patients. Thus, the rising cases of fungal infections is likely to drive the market for antifungal drugs in the coming years.

Infection Type-Based Insights

Based on infection type, the global antifungal drugs market is bifurcated into superficial fungal infection and systemic antifungal infection. In 2018, the superficial fungal infection segment held a larger share of the market, and it is also expected to grow at the fastest rate during the forecast period. The rising prevalence of fungal infection of the skin, nails, and hair is likely to increase the growth of the antifungal drugs market during the forecast period.

Antifungal Drugs Market, by Type – 2021 and 2028

Antifungal Drugs Market, by Type – 2021 and 2028

Drug Type-Based Insights

Based on drug type, the global antifungal drugs market is segmented into echinocandis, azoles, polyenes, allylamines, and others. In 2021, the azoles segment held the largest share of the market. However, the polyenes segment is expected to grow at the fastest rate during the forecast period.

Therapeutic Indication-Based Insights

Based on therapeutic indication, the global antifungal drugs market is segmented into aspergillosis, dermatophytosis, candidiasis, and others. In 2021, the candidiasis segment held the largest share of the market. However, the dermatophytosis segment is expected to grow at the fastest rate during the coming years.

Dosage Form-Based Insights

based on dosage form, the global antifungal drugs market is segmented into drugs, ointment, powder, and others. In 2021, the drugs segment held the largest share of the market, and it is expected to grow at the fastest rate during the coming years.

The Asia Pacific antifungal drugs market is expected to grow at the fastest rate during the forecast period. The market is estimated to grow during the forecast period due to the growing pharmaceutical industry in the countries such as China, Japan, and India. China's pharmaceutical industry is among the largest pharmaceutical industry across the globe. The country has shown significant growth in active pharmaceutical ingredient manufacturing, competitiveness, innovations, and final dosage formation. Hence, most multinational companies are showing interest in the Chinese market for drug sales.

In 2021, North America held the largest share of the antifungal drugs market. The North America antifungal drugs market is studied based on the three major countries—the US, Canada, and Mexico. The market growth in the region is majorly contributed by rising cases of fungal infections across the countries and growing awareness programs such as ‘Fungal Disease Awareness Week’. In addition, Mexico is expected to offer several growth opportunities in the coming years due to the rising prevalence of fungal diseases. For instance, according to an article published in the Brazilian Journal of Infectious Diseases in 2018, states that invasive fungal infections affect more than 1.5 million people per year in Mexico.

By geography, the antifungal drugs market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Company Profiles

  • Pfizer Inc.
  • Sanofi S.A.
  • Gilead Sciences, Inc.
  • Merck And Co., Inc.
  • Scynexis Inc.
  • Novartis International AG
  • Abbott Laboratories
  • Bayer AG
  • Glenmark Pharmaceutical
  • Glaxosmithkline Plc.

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Infection Type, Drug Type, Therapeutic Indication, and Dosage Form

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

The List of Companies

  1. Pfizer Inc.
  2. Sanofi S.A.
  3. Gilead Sciences, Inc.
  4. Merck And Co., Inc.
  5. Scynexis Inc.
  6. Novartis International AG
  7. Abbott Laboratories
  8. Bayer AG
  9. Glenmark Pharmaceutical
  10. Glaxosmithkline Plc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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