Global Anti-fungal Drugs Market - Segmented by Drug Type, Therapeutic Indication, and Geography - Growth, Trends and Forecast (2018 - 2023)
The global anti-fungal drugs market is expected to register a CAGR of 3.6% during the forecast period, 2018 to 2023. Anti-fungal drugs are used to treat the fungal infections which are caused by soggy, unhygienic, and unclean environments in which the microscopic organisms such as fungus thrive. Fungi multiply by spreading microscopic spores.
Increasing Number of Anti-Fungal Drugs as Over-The-Counter (OTC)
With rising popularity of Over-The-Counter (OTC) drugs, many patients are preferring OTC drugs because these over the counter drugs are obtaining without a prescription from a healthcare professional. Numerous common and harmless fungal infections are left untreated by patients, owing to medical costs and logistical constraints. These have directly contributed to the rise in the usage of OTC drugs, owing to their ease of availability. According to the Consumer Healthcare Products Association, more than 81% of adults use OTC medicines as their first response to minor ailments. The increased usage of OTC drugs has further contributed to the rise in anti-fungal drug sales over the years. And the other factors such as increasing awareness among the people regarding the fungal infection, and increasing number of the immune-compromised aged population are driving the market growth.
Presence of Generics and Government Regulations in the Pharmaceutical Industry
Although there is an increase in the sales for anti-fungal generic drugs, the market value of anti-fungal drugs has decreased, as the price of generics is almost 20 to 50 % of the branded drugs. To meet the market value, the sales of generics must be increased by at least four times to that of the branded drugs. Even with the increasing volume of generic anti-fungal drug sales, the overall market value of anti-fungal drugs has reduced. The increased usage of generic anti-fungal drugs will restrain the growth of the market in the forecast period.
The pricing regulations by various governments, their strict regulatory frameworks for the approval of anti-fungal drugs, is acting as a restraining factor along with the high penetration of conventional drugs used for treatment is hindering the growth of the global anti-fungal drugs market.
North America to dominate the Market
North America dominates the market due to increasing awareness of fungal infections with the growing incidence of antifungal infections and increasing government and corporate funding in the industry. While Asia-Pacific was estimated to register the fastest CAGR through the forecast period, 2018-2023.
Key Developments in the Market
October 2017: Gilead Sciences has Acquired the Kite Pharma, Inc.
Major Players: ABBOTT LABORATORIES, PFIZER, GLAXOSMITHKLINE, BAYER HEALTHCARE, NOVARTIS, SANOFI-AVENTIS, MERCK & CO., KRAMER LABORATORIES, ENZON PHARMACEUTICALS, GILEAD, amongst others.
Reasons to Purchase this Report
Current and future anti-fungal drugs market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
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