ANTI FUNGAL DRUGS MARKET ANALYSIS

The global anti fungal drugs market is estimated to be valued at US$ 14.0 billion in 2023 and is expected to exhibit a CAGR of 3.5% during the forecast period (2023-2030).

Analysts’ Views on the Global Anti-Fungal Drugs Market:

The increasing number of patients, who are more susceptible to fungal infections, is a key driver for the growth of the market over the forecast period. The rising number of product launches by the key players in the market is also expected to drive the market growth over the forecast period.

Figure 1. Global Anti Fungal Drugs Market Share (%), By Drug Type, 2023

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Global Anti Fungal Drugs Market - Drivers

• Increasing product approvals by regulatory bodies: Increasing product approvals by regulatory bodies are expected to drive the growth of the market over the forecast period. For instance, Zydus Lifesciences, a pharmaceutical company, announced that it had received the final approval from the U.S. Food and Drug Administration (FDA) to market its antifungal medicine Micafungin, which is used to treat certain types of fungal or yeast infections.
• Increasing adoption of inorganic growth strategies such as agreements: Increasing adoption of inorganic growth strategies such as agreements by the key players in the market are expected to drive the growth of the global anti fungal drugs market over the forecast period. For instance, on March 30, 2023, GSK plc, a pharmaceutical company, and SCYNEXIS, Inc., a biotechnology company that develops products for the treatment of fungal infections, announced they have entered into an exclusive license agreement for Brexafemme (ibrexafungerp tablets), a U.S FDA approved, first-in-class antifungal for the treatment of vulvovaginal candidiasis (VVC) and for reduction in the incidence of recurrent VVC (RVVC). This exclusive license agreement gives GSK plc rights to commercialize Brexafemme for VVC and RVVC while continuing to develop ibrexafungerp, which is in phase III clinical trials for the potential treatment of invasive candidiasis (IC), a life-threatening fungal infection.

Figure 2. Global Anti Fungal Drugs Market Share (%), By Region, 2023

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Global Anti Fungal Drugs Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global anti fungal drugs market over the forecast period. The global anti fungal drugs market is expected to witness significant growth in the coming years, driven by the acceptance of New Drug Application (NDA) by the regulatory bodies. For instance, in December 2022, F2G Inc., a biotechnology company announced that the U.S. FDA has accepted for filing of its New Drug Application (NDA) for olorofim for the treatment of invasive fungal infections in patients with limited or no treatment options.

Global Anti Fungal Drugs Market - Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, are facing problems with the transportation of products from one place to another.

The COVID-19 pandemic profoundly affected the market, with import and export operations being limited due to closures, resulting in shortages and unavailability of consumer goods and supplies. However, emerging reports and research indicated that a significant number of patients with severe COVID-19 infections required intensive care and were fighting another fatal infection, such as aspergillosis, caused by Aspergillus fungus. According to a study published in Journal of Microbiology, Immunology, and Infection in February 2021, Invasive Pulmonary Aspergillosis (IPA) incidence ranged from 19.6% to 33.3% among the studied population. Thus, researchers have found that patients with COVID-19 were at greater risk of pulmonary infections caused by fungal respiration, creating a demand for anti-fungal drugs during the later phases of the pandemic. Consequently, despite the short-term decline in the number of drugs and supply chain disruptions, the increasing fungal infections among COVID-19 patients had a considerable impact on the market, which is expected to continue to gain traction during the analysis period.

Global Anti Fungal Drugs Market Segmentation:

The global anti fungal drugs market report is segmented into by drug type, indication, dosage form, distribution channel, and region.

• By drug type, the market is segmented into echinocandins, polyenes, allylamines, azoles, and others. Out of which, the azoles segment is expected to hold a dominant position in the global anti fungal drugs market during the forecast period, and this is attributed to the increasing product launches by the key players in the market. For instance, in October 2021, Intas Pharmaceuticals Limited, a pharmaceutical company, announced the launch of an innovative antifungal drug, Super Bioavailable Itraconazole-SB 100 mg, under the brand name Itaspor-SB Forte/Subawin.
• By indication, the market is segmented into aspergillosis, dermatophytosis, candidiasis, mucormycosis, and others. Out of which, aspergillosis is expected to dominate the market over the forecast period, and this is attributed to the increasing acceptance of supplemental New Drug Application (sNDA) by the key players in the market. For instance, on August 11, 2023, Astellas Pharma Inc., a pharmaceutical company, announced that the U.S. FDA has accepted its supplemental New Drug Application (sNDA) for CRESEMBA (isavuconazonium sulfate) as a treatment for fungal infections, including invasive aspergillosis (IA) or invasive mucormycosis (IM) in pediatric patients.
• By dosage form, the market is segmented into powders, ointments, injections, tablets, and others. Out of which, tablets is expected to dominate the market over the forecast period, and this is attributed to increasing adoption of inorganic growth strategies such as collaborations by the key players in the market. For instance, in May 2022, Shionogi & Co., Ltd., a pharmaceutical company and F2G Ltd., a biotechnology company, announced that they have entered a strategic collaboration to develop and commercialize the new antifungal agent olorofim for invasive fungal infections in Europe and Asia Pacific. Olorofim is a novel oral antifungal therapy developed by F2G Ltd to treat Invasive Aspergillosis (IA) and other rare mold infections. Olorofim works through a unique mechanism of action, different from existing classes of antifungals, exerting fungicidal activity through inhibition of the pyrimidine synthesis pathway.
• By distribution channel, the market is segmented into hospital pharmacies, online pharmacies, and retail pharmacies. Out of which, hospital pharmacies is expected to dominate the market over the forecast period, and this is attributed to growing healthcare spending by governments. For instance, according to U.S. Centers for Medicare and Medicaid Services’ 2021 findings on the National Health Expenditure (NHE) in the U.S., hospital expenditure grew by 6.4% to US$ 1,270.10 billion in 2020.

Among all the segmentation, the drug type segment is expected to dominate the market over the forecast period, and this is attributed to the increasing adoption of inorganic growth strategies, such as acquisitions, by the key players in the market. For instance, in April 2021, Pfizer Inc., a pharmaceutical company, announced that it has acquired Amplyx Pharmaceuticals, Inc., a privately-held company dedicated to the development of therapies for debilitating and life-threatening diseases that affect people with compromised immune systems. Amplyx Pharmaceuticals, Inc’s lead compound, Fosmanogepix (APX001), is a novel investigational asset under development for the treatment of invasive fungal infections.

Global Anti Fungal Drugs Market - Cross Sectional Analysis:

Increasing product launches by the key players in the market is also expected to boost demand global anti fungal drugs market in North America. For instance, in June 2021, Cadila Pharmaceuticals, a pharmaceutical company, announced the launch of a new triazole antifungal drug posaconazole, which has been found to be effective against a wide range of invasive fungal disease. The drug has also been recommended as a second line treatment for mucormycosis or black fungus as it is commonly known.

Global Anti Fungal Drugs Market: Key Developments

In August 2020, Alembic Pharmaceuticals Limited, a pharmaceutical company, announced that the company has received approval from the U.S. FDA for anti fungal Tavaborole Topical Solution. Tavaborole Topical Solution is indicated for the treatment of onychomycosis of the toenails.

In June 2021, Mankind Pharma, a pharmaceutical company, announced the launch of Posacoazole Gastro resistant tablets used to treat black fungus.

In December 2022, SCYNEXIS, Inc., a biotechnology company pioneering innovative medicines to overcome and prevent difficult-to-treat and drug-resistant fungal infections, announced that the U.S. Food and Drug Administration (FDA) has approved a second indication for BREXAFEMME (ibrexafungerp tablets) for the reduction in the incidence of recurrent vulvovaginal candidiasis (RVVC).

In December 2021, Novo Holdings A/S, a life science company, has announced that the U.S. Food and Drug Administration (FDA) has accepted for filing its New Drug Application (NDA) for olorofim for the treatment of invasive fungal infections in patients who have limited or no treatment options.

Global Anti Fungal Drugs Market: Key Trends

• Increasing adoption of inorganic growth strategies such as acquisitions: Increasing adoption of inorganic growth strategies, such as acquisitions, by the key players in the market are expected to drive the growth of the market over the forecast period. For instance, on January 24, 2023, Sandoz International GmbH, the global leader in off-patent (generic and biosimilar) medicines, signed an agreement to acquire worldwide product rights for leading systemic antifungal agent Mycamine (micafungin sodium, Funguard in Japan) from Astellas Pharma Inc., a Japan-based pharmaceutical company.

Global Anti Fungal Drugs Market: Restraint

• Increasing product recalls: Increasing product recalls are expected to hamper the growth of the global anti fungal drugs market. For instance, on February 18, 2023, Biocon Pharma, an innovation led fully integrated biopharmaceutical company that develops affordable biosimilars, generic formulations & complex active pharmaceutical ingredients (APIs), announced the voluntary recall of 3,665 bottles of antifungal medication in the U.S. market for failed degradation specifications.

Global Anti Fungal Drugs Market - Key Players

The major players operating in the global anti fungal drugs market include GlaxoSmithKline Plc, Bayer AG, Abbott Laboratories, Merck & Co., Inc, Glenmark Pharmaceuticals Limited, Enzon Pharmaceuticals, Inc., Pfizer Inc., Gilead Sciences, Inc., Sanofi S.A., and Astellas Pharma, Inc., Alembic Pharmaceuticals Limited, and SCYNEXIS, Inc.

*Definition: Antifungal drugs are the drugs that treat fungal infections by killing or stopping the growth of dangerous fungi in the body. Fungi can develop resistance to antifungal drugs the same way bacteria can develop resistance to antibiotics. Resistance happens when germs develop the ability to defeat the drugs designed to kill them. That means the germs are not killed and continue to grow.