Market Challenges And Opportunities
| Restraints & Challenges: |
- Increasing product recalls
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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.
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