Anti Fungal Drugs MarketSize and Trends

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).

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

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

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.