India Mucormycosis Treatment (Black Fungus Drugs) Market, by Species (Rhizopus, Cunninghamella, Rhizomucor, Saksenaea, Apophysomyces, Lichtheimia, Mucor, and Others), by Diagnosis Method (Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Tissue Biopsy, and Others), by Drugs (Amphotericin B, Isavuconazole, Posaconazole, Voriconazole, Flucytosine, Fluconazole, and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies) is estimated to be valued at US$ 9.1 million in 2021 and is expected to exhibit a CAGR of 3.5% during the forecast period (2021-2028).
The increasing prevalence of mucormycosis in India is expected to drive growth of the India Mucormycosis Treatment (Black Fungus Drugs) Market over the forecast period. For instance, according to the article published in the Microorganisms journal on March 4, 2021, the following pie chart depicts the different clinical forms of mucormycosis in India and their occurrence in Indian population in percentage.
Market players are indulged in receiving approvals for their anti-fungal drugs, from the regulatory authorities for the treatment of mucormycosis in Indian population. This is expected to fuel growth of the India Mucormycosis Treatment (Black Fungus Drugs) Market, over the forecast period. For instance, on March 15, 2021 the Drug Controller General of India (DCGI), approved Bharat Serums and Vaccines Limited’s anti-fungal medication Liposomal Amphotericin – B or LAmB, for the treatment of mucormycosis in India.
India Mucormycosis Treatment (Black Fungus Drugs) Market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic is expected to drive growth of the India Mucormycosis Treatment (Black Fungus Drugs) Market over the forecast period. The outbreak of COVID-19 has created challenges for several industries and markets. In the short term, the pharmaceutical companies, healthcare institutions, pharmaceutical distribution and retail sectors have faced negative impact of COVID-19 spread. According to the World Health Organization, the manifestation of coronavirus disease (COVID-19) has resulted in more than 2.74 million new cases and nearly 0.3 million new deaths in India as on May 25, 2021.
Many companies in India are importing Amphotericin B drug from the outside companies, for the management of mucormycosis in the COVID-19 patients. For instance, Gilead Sciences, headquartered in USA, have sent over 121,000 vials of AmBisome (Amphotericin B) to India. The company is expected to supply one million doses of AmBiosome to India through Mylan N.V., a global generic and specialty pharmaceutical company. The above factors are expected to drive growth of the India Mucormycosis Treatment (Black Fungus Drugs) Market over the forecast period.
Browse 32 Market Data Tables and 26 Figures spread through 161 Pages and in-depth TOC on India Mucormycosis Treatment (Black Fungus Drugs) Market, by Species (Rhizopus, Cunninghamella, Rhizomucor, Saksenaea, Apophysomyces, Lichtheimia, Mucor, and Others), by Diagnosis Method (Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Tissue Biopsy and Others), by Drugs (Amphotericin B, Isavuconazole, Posaconazole, Voriconazole, Flucytosine, Fluconazole and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies)
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The increasing government initiatives for the treatment of mucormycosis patients is expected to propel growth of the India Mucormycosis Treatment (Black Fungus Drugs) Market over the forecast period. For instance, on May 15, 2021, Maharashtra government announced that the entire treatment cost for the mucormycosis patients, in Maharashtra, will be covered under the Mahatma Jyotiba Phule Jan Arogya Yojana, as the medicines available for the treatment of mucormycosis are expensive.
Key Takeaways of the India Mucormycosis Treatment (Black Fungus Drugs) Market:
- The India Mucormycosis Treatment (Black Fungus Drugs) Market is expected to exhibit a CAGR of 3.5% over the forecast period (2021-2028),
- The increasing prevalence of mucormycosis among the India population is expected to drive growth of the India Mucormycosis Treatment (Black Fungus Drugs) Market over the forecast period. For instance, on May 25, 2021, Jammu and Kashmir government declared mucormycosis (Black Fungus Drugs) infection as an epidemic, after the first reported death due to black fungus.
- Some of the major players operating in the India Mucormycosis Treatment (Black Fungus Drugs) Market include Natco Pharmaceuticals, Alembic Pharmaceuticals, Gufic Biosciences, Lyca Pharmaceuticals, Emcure Pharmaceuticals, Bharat Serums and Vaccines, BDR Pharmaceuticals, Cipla Limited, Lifecare Innovations, Synbiotics Limited, Kamla Lifesciences, Cadila Healthcare Limited, and TLC Pharma Labs
