Antifungal Drugs Market to Reach USD 13.17 Billion by 2027; Rising Usage of Nanotechnology to Accelerate Growth

The global Antifungal drugs market size is anticipated to reach USD 13.17 billion by 2027 owing to the increasing number of skin infections, further attributed to hygiene issues. A fungus is a microorganism that settles on dirty skin and feeds on it. Fungal infections may be superficial or internal wherein they enter the body through inhalation. According to Fortune Business Insights™, in a report titled, “Antifungal Drugs Market Size, Share & COVID-19 Impact Analysis, By Drug Type (Echinocandins, Azoles, Polyenes, and Allylamines), By Indication (Dermatophytosis, Aspergillosis, Candidiasis, and Others), By Route of Administration (Oral, Topical, and Parenteral), By Distribution Channel (Hospital Pharmacies, Retails Pharmacies & Stores, and Others), and Regional Forecast, 2020-2027,” the market value stood at USD 10.24 billion in 2019 and will exhibit a CAGR of 3.3% between 2020 and 2027.

SUBA-itraconazole (Tolsura) by Mayne Pharma Got Approval from U.S. Food and Drug Administration

SUBA-Itraconazole is manufactured for treating histoplasmosis, aspergillosis, and blastomycosis in patients intolerant of amphotericin B therapy. These infections occur in patients who have recently undergone bone marrow transplants or solid organ transplant including HIV patients. This new formulation by Mayne Pharma amalgamates the SuperBioAvailable (SUBA) drug delivery platform with a broad spectrum of antifungal drug itraconazole in a 65mg capsule. The CEO of Mayne Pharma, Scott Richards says, “This drug will help in improving the bioavailability of poorly soluble drugs and treat superficial infections of the nails and skin along with major organs. The reformulation of existing drugs plays a crucial role in clinical outcomes and improving patient compliance. We are glad our product was approved by the FDA.” It received approval in December 2018. Such initiatives taken by companies are expected to help increase the overall revenue of  this market in the coming years.

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https://www.fortunebusinessinsights.com/industry-reports/antifungal-drugs-market-101188

Increasing Number of Skin Infections Will Augment Growth

The increasing awareness about personal health and hygiene is expected to boost the market. Besides this, the rising number of fungal infections is likely to aid in the expansion of the market in the coming years. Additionally, a rise in the adoption of nanotechnology for the formulation of advanced Antifungal drugs is expected to bolster growth. Nanotechnology is used in various medicines for delivering improved patient outcomes. Players are investing in the production of drugs such as Amphotericin B for treating aspergillosis and candidiasis, thereby promoting Antifungal drugs market growth.

On the flip side, the adverse effects of conventional drugs such as bone marrow suppression, hypokalemia, and nephrotoxicity may cause the market to face rough waters. Besides this, the stringent regulations imposed on patent expiry and counterfeit drugs may also hamper the overall market growth in the coming years.

Leading Players Focusing on Expansion of Product Portfolio for Gaining Competitive Edge

The global Antifungal drugs market is dominated by two players, namely, Merck & Co. Inc. and Astellas Pharma Inc. on account of their possession of a diverse portfolio and geographical expansion of their products. Other players operating in the market are engaging in collaborative efforts, such as mergers and acquisitions, joint ventures, contracts and agreements, and partnerships to attract high revenue.

A Notable Industry Development of Market Include:

• September 2019 –  The U.S. Food and Drug Administration approved fast track status to Amplyx for IV and oral formulations of a drug named FOSMANOGEPLIX for seven indications. This includes the treatment of Mucormycosis, invasive candidiasis, and others.

List of Significant Market Manufacturers are:

• McKesson Medical-Surgical Inc


• Abbott


• Astellas Pharma Inc.


• Bayer AG


• Merck & Co., Inc.


• Novartis AG


• Pfizer Inc


• GlaxoSmithKline plc.


• Leadiant Biosciences, Inc.


• Other Vendors

Further Report Findings

• North America held the dominant market share with a revenue of USD 4.61 billion earned in 2019. It is attributed to a rise in the healthcare facilities and the adoption of advanced therapeutic procedures.


• Asia Pacific will exhibit notable growth owing to the rapidly developing healthcare infrastructure and government-supported awareness programs about health and personal hygiene.


• Based on segmentation by drug type, the market is dominated by the azoles segment. However, the polyenes segment earned an 8.1% share in 2019.

 This Global Antifungal Drugs Market is segmented into: