The global Antifungal Drugs market is expected to reach US$ 13,524.2 Mn in 2027 from US$ 10,182.3 Mn in 2018. The market is estimated to grow with a CAGR of 3.2% from 2019-2027.
The market is driven by the factors such as, rising incidences for the fungal infection of the skin, nails and hair, increasing incidences of cancers, HIV, and hospital-acquired infections and favorable government initiatives to combat the antifungal diseases are likely to drive the growth of the Antifungal Drugs market. However, lack of awareness regarding the fungal infections may restrict the growth of Antifungal Drugs market.
The significantly rising incidences of the fungal infections among others are the leading factors for the market growth.
There are millions of various types of fungi on Earth, but only around 300 are identified as the one who makes people sick. Fungal infections are mainly caused due to microscopic fungi, which is common in the atmosphere. Fungi live outside in soil and on plants and various indoor surfaces and human skin.
The rising number of fungal infections are causing harm to patients. Candidemia is among the most common bloodstream infections in the United States. For instance, according to the Centers for Disease Control and Prevention (CDC), from 2013 to 2017, the average incidence of fungal infection was around 9 per 100,000 people. Though, this number changes as per the geographic location and patient population. CDC predicts that approximately 25,000 cases of candidemia occur across the country per year.
There has been significant variation in the rates of candidemia by age group. The rates have reduced considerably in infants, but it remains higher as compared to other groups. Candidemia rates are majorly high in people aged above 65 and older. The reasons for the difference in incidence by age, race may be due to the alteration in underlying circumstances, socioeconomic status, and other factors. The prevalence of Candidaemia in established countries has been related to the age of patients. The below is the country estimated burden of Candidaemia.
Moreover, due to the tropical climate, South Asia has a high frequency of fungal infections. For instance, according to a report published by Down To Earth organization in 2015, infection from yeast, which is a type of fungus, is 0.8 among 1,000 patients in the US. Moreover, the incidence is found to be 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, demand for the anti-fungal drugs is increasing owing to providing treatment and helps in maintaining the proper immunity to the patients. Thus, the rising rate of fungal infections are likely to drive the market for anti-fungal drugs in the coming years
Some of the major primary and secondary sources included in the report for the Antifungal Drugs market are World Health Organization, National Institute of Health and Medical Research, Centers for Disease Control and Prevention, The New England Journal of Medicine, Journal of Fungi among the others.