Antifungal Drugs Industry
In 2023, the global antifungal drugs market was valued at approximately USD 15.8 billion, with forecasts suggesting a compound annual growth rate (CAGR) of 3.8% from 2024 to 2030. This growth is significantly driven by the rising prevalence of fungal infections, including aspergillosis and candidiasis. Fungal infections encompass both systemic and superficial infections, affecting areas such as the skin, eyes, mouth, and vagina. Antifungal drugs with fungicidal properties are primarily used to treat various fungal diseases, including athlete's foot, ringworm, and fungal meningitis. Additionally, the increasing occurrence of hospital-acquired or nosocomial infections and infectious diseases is expected to further support market expansion over the forecast period.
Fungal diseases present a serious public health challenge since they can impact anyone, with individuals who have weakened immune systems, such as AIDS patients, facing a heightened risk. Opportunistic fungal infections pose a significant threat to these patients. According to data from the CDC, around 152,000 new cases of cryptococcal meningitis, a severe brain infection, are recorded globally each year, resulting in approximately 112,000 deaths annually. The majority of these deaths are reported in sub-Saharan Africa, where HIV/AIDS prevalence is high, underscoring the urgent need for potent antifungal treatments in these regions.
Rising awareness of fungal infections is anticipated to improve diagnostic rates, which, in turn, is likely to drive the adoption of antifungal treatments. In September 2022, the CDC organized Fungal Disease Awareness Week to emphasize the importance of antifungal therapies, reduce drug resistance, and encourage early recognition of fungal infections to help lower mortality rates. These awareness initiatives are bolstered by organizations such as the Aspergillosis Trust, which works to educate the public on aspergillosis. Platforms like aspergillosis.org have also introduced World Aspergillosis Day and are raising funds in collaboration with the Fungal Infection Trust to support affected patients. Such initiatives are essential in addressing the growing need for antifungal drugs and increasing treatment accessibility.
Gather more insights about the market drivers, restrains and growth of the Antifungal Drugs Market
Drug Class Insights
Azoles Drug Class Segment:
- In 2023, the Azoles drug class dominated the antifungal drugs market, accounting for a revenue share of 47.6%.
- This dominance is driven by the effectiveness of key therapeutic agents, including Noxafil, Vfend, Diflucan, and Cresemba.
- Azoles are known for their broad-spectrum antifungal activity, particularly their ability to inhibit fungal enzymes and support fungistatic actions, making them effective against a wide range of fungal infections.
- Azoles are used to treat various conditions, such as candidemia, blastomycosis, systemic candidiasis, and ocular fungal infections.
- Systemic fungal infections are categorized into two main types: triazoles and imidazoles. Triazoles, in particular, offer several advantages, including improved safety profiles, reduced adverse effects, and enhanced absorption, contributing to the segment's growth.
- Industry Innovations:
- In August 2023, Astellas Pharma received FDA acceptance for the supplemental New Drug Application (sNDA) of CRESEMBA, a significant step toward innovation in the treatment of invasive aspergillosis and invasive mucormycosis in pediatric patients.
- This acceptance highlights the industry's commitment to addressing invasive fungal infections in children, particularly through the approval of azole drugs such as isavuconazole, which could further increase the market share for this class of antifungal medications.
Allylamines Drug Class Segment:
- Allylamines are synthetic fungicidal agents that are expected to experience significant growth during the forecast period, registering a notable compound annual growth rate (CAGR).
- These drugs are commonly prescribed for treating nail infections, jock itch, athlete’s foot, and ringworm.
- Lamisil is the most frequently prescribed topical antifungal medication, second only to fluconazole, for the treatment of systemic fungal infections by dermatologists.
- The rising prevalence of dermatological diseases, particularly those caused by fungal infections, is expected to further drive the growth of this segment.
Order a free sample PDF of the Antifungal Drugs Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
English
Arabic
French
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek
Siswati