Antifungal Drugs Market Set to Reach USD 25.0 Billion by 2030, With a Sustainable CAGR Of 3.9%

PORTLAND, GA, UNITED STATES, November 27, 2024 /EINPresswire.com/ -- Rise in incidences of fungal and nosocomial infections, surge in initiatives by public and private organizations to spread awareness about myriad of fungal infections, and growth in prevalence of fungal infections such as aspergillosis and candidiasis drive the growth of the global antifungal drugs market. Furthermore, upsurge in number of drug approvals provide lucrative opportunities for the expansion of the global anti-fungal drugs market during the forecast period.

According to the report published by Allied Market Research, the global Antifungal Drugs Market generated $16.6 billion in 2020, and is projected to reach $25.0 billion by 2030, witnessing a CAGR of 3.9% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

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Factors that drive the growth of the global anti-fungal drugs market are growth in prevalence of fungal infection, rise in awareness levels pertaining to myriad of fungal infections, and increase in demand for generic drugs. Moreover, the production of antifungal drugs by key players such as GlaxosmithKline Plc manufactures, performs R&D activities, and develops innovative products applicable in the six end core areas, respiratory, HIV &infectious diseases, vaccines, immuno-inflammation, oncology, and rare diseases. It offers more products to improve the treatment for patients, consumers, and healthcare providers. It has a significant global presence in more than 150 countries. It manufactures antifungal creams, Clioquinol, Miconazole, Nystatin, Oxiconazole, and Terbinafine. With these antifungal drugs, GSK sustains its market presence in the global antifungal drugs market.

The report offers detailed segmentation of the global antifungal drugs market based on drug class, infection type, therapeutic indications, dosage forms, and region.

Based on therapeutic indications, the candidiasis segment held the highest market share in 2020, holding more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the dermatophytosis segment is estimated to register the highest CAGR of 4.7% from 2021 to 2030.

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Moreover, development of pharmaceutical industries and improvement in healthcare spending are anticipated to drive the growth of the anti-fungal drugs market. In addition, Fungal Genetic Resource of India (FUNGEN) was engaged in training graduate student mycologists in colleges and universities in isolation techniques, and operating on a crowdsourcing model with “mini-collections” developed at participating centers to provide awareness about fungus, the diseases caused by them, and the treatments. Hence, such robust initiatives taken by nongovernmental organizations are expected to fuel the market growth.

Based on dosage forms, the oral segment held the largest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 4.5% from 2021 to 2030.

Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 5.2% during the forecast period.

Leading players of the global antifungal drugs market analyzed in the research include Pfizer Inc., Sanofi S.A., Gilead Sciences Inc., Merck & Co. Inc, Novartis AG, Abbott Laboratories., GlaxosmithKlinePlc, AstellasPharma Inc., Johnson & Johnson, and MerzPharma.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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