Global Antifungal Agents Market is expected to grow at a CAGR of 8.1% during the forecast period 2022-2030


The global antifungal agents market is expected to grow with a CAGR of 8.1% during the forecast period of 2022-2030. The antifungal agents are fungi static in nature used to prevent and treat mycoses such as candidiasis, ring worm etc. These are basically the drugs which help in detecting and eliminating fungal pathogens from foreign body with less toxic side effects to the body. A fungal infection generally happens in humans due to moist, unhygienic environment. The anti-fungal agent market is witnessing high growth in near future due to increasing awareness among people about myriad fungal infections etc. which helps in boosting this market.

Some of the factors acting as the restraint for the market are high penetration of conventional medicines in many regions of the world a large number of people are preferring the conventional medicines due to a number of factors such as ease of availability as most of these medicines are easily available in the homes, also lower side effects of conventional medicines attract a large portion of the population. Also stringent government regulations regarding the approval and application of the drugs are acting as a barrier for the market. However, in recent times there can be seen high popularity of over the counter drugs and this is expected to act as an opportunity for the antifungal agents in the coming times.

Side effects associated with the drugs and difficulty in application of the topical antifungal agents are few of the challenges faced by the industry, which can be handled to make the segment more profitable and acceptable. Also high challenge is faced by the conventional drug hence larger number of programs must be run among the general public to raise the application of the antifungal agents majorly in the Asian and African countries.

Topical drugs are expected to be the largest revenue generating segment, the topical drug market is expected to grow at a CAGR of 7.5%. Oral drugs are expected to be the second highest revenue generating segment growing with a CAGR of 8.7% during the forecasted period. The Aspergillosis segment is expected to be the third highest revenue generating segment growing with a CAGR of 8.4% during the forecast period of 2022-2030.

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Asia pacific and ROW are expected to be the fastest growing region attaining a CAGR of 10.3% and 10.6% respectively. This is majorly due to the boomin the economies such as India and China. Also there can be seen high investment in the healthcare sectors in Asian and Latin American countries. High growth in candidiasis and aspergillosis. Candidiasis is expected to grow with a high CAGR of 9.3%, this is majorly due to high prevalence rate of the disease.The healthcare sector in the North America is well developed and it is expected to grow with an impressive CAGR during the forecast period in the emerging economies. The population is getting aware with the various diseases of the antifungal infections due to which it is fueling the growth of the market. In the developed regions, such as North America it has a huge and well developed healthcare industry and the US is majorly contributing to the growth of the market in North America.

Global market for antifungal agents has witnessed significant number of market entrants in the last decades, although, the new companies involved does not hold a large market share but they do serve their respective regions. Major companies involved in this market are; Astellas Pharma Inc., Johnson & Johnson, Teva pharma, Novartis and Pfizer. There are many key players in the global antifungal agent market. Companies are focusing on increasing their market share through various strategic initiatives. Among all the strategic initiatives acquisition is widely opted in the global antifungal market.

KEY MARKET MOVEMENTS

  • The global antifungal agents market is expected to grow with a CAGR of 8.1% during the forecast period of 2022-2030.
  • Topical drugs are expected to be the largest revenue generating segment, the topical drug market is expected to grow at a CAGR of 7.5% during the forecast period.
  • Oral drugs are expected to be the second highest revenue generating segment growing with a CAGR of 8.7% during the forecasted period.
  • The Aspergillosis segment is expected to be the third highest revenue generating segment growing with a CAGR of 8.4% during the forecast period of 2022-2030.
  • Asia pacific and ROW are expected to be the fastest growing region attaining a CAGR of 10.3% and 10.6% respectively during the forecast period.

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