PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1618288
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1618288
Global antifungal drugs market is projected to witness a CAGR of 4.05% during the forecast period 2025-2032, growing from USD 16.72 billion in 2024 to USD 22.97 billion in 2032. The market's growth is boosted by the rising cases of dermatophytosis, aspergillosis, candidiasis, and mucormycosis, coupled with increasing product approvals from various regulatory bodies and rising investments by leading pharmaceutical companies toward novel product launches. Growing awareness about fungal infections and the importance of prompt intervention are also bolstering the market's demand. Different healthcare organizations and governments across the globe are increasingly focusing on conducting public awareness campaigns to boost public awareness about the signs, symptoms, and risks associated with fungal infections, allowing for early detection and fostering prompt treatment adoption. For instance, the Centers for Disease Control (CDC) and its partners across the globe worked together to boost awareness about fungal diseases during Fungal Disease Awareness Week (FDAW) from 16-20 September 2024.
Furthermore, the development and incorporation of advanced diagnostic tools and techniques, including molecular diagnostics, PCR tests, and rapid antigen tests, are improving the accuracy and speed of diagnosis of fungal infections, enabling early intervention. Additionally, pharmaceutical companies are increasingly focusing on developing and introducing therapeutic solutions that are able to address the limitations of existing treatments and improve patient outcomes. Such measures include the development of nanotechnology-based formulations designed for improving clinical outcomes. Continuous research and development efforts are leading to the introduction of novel antifungal drugs and formulations. Such advancements enhance patient adherence and treatment efficacy, addressing the challenges posed by multidrug-resistant fungal strains, among others.
Moreover, the rising cases of hospital-acquired infections also support the growth of the global antifungal drugs market. The CDC estimates that 1 in 31 patients hospitalized in the United States suffers from at least one hospital-associated infection. Fungal pathogens can enter the patient's body and can cause health repercussions ranging from systemic diseases that can be life-threatening to mild skin infections. In hospital settings, fungal pathogens usually enter the body through surgical sites, wounds, burns, and cuts.
Increasing Prevalence of Fungal Infections Boosts Market Demand
The rising prevalence of fungal infections in different regions across the globe is one of the major factors supporting the expansion of the antifungal drugs market. According to data published by the International Society for Infectious Diseases (ISID) in September 2024, approximately 6.5 million cases of invasive fungal infections are reported annually. This growing threat of fungal infections is propelling the demand for effective therapeutic solutions and highlighting the importance of increasing understanding and awareness about managing and treating fungal infections to promote patient safety.
The rising number of patient admissions in ICUs also increases the risk of fungal infections in hospital settings. Additionally, the rapid advancements in diagnostics allow the early diagnosis and detection of fungal infections, further augmenting the requirement for antifungal drugs. Additionally, the expansion of the immunocompromised population due to the rise in cases of conditions including HIV/AIDS, diabetes, and cancer is resulting in a higher susceptibility to fungal infections, propelling the requirement for effective medications and therapies.
Rising Investments Toward the Development of Novel Treatments Support Market Expansion
Leading pharmaceutical and biotechnology companies across the globe are actively working on developing and introducing novel therapeutic solutions to treat fungal infections and combat the growing threat of drug-resistant fungal infections. For instance, in September 2024, F2G Ltd announced that they had secured USD 100 million in funding to commercialize their new class of antifungals. With this funding, the company aims to complete the late-stage development of olorofim for invasive aspergillosis and prepare for regulatory approval in the United States. Olorofim, a part of orotomides, a new class of antifungal drugs, inhibits the dihydroorotate dehydrogenase enzyme from disrupting the synthesis of pyrimidines, which is essential for fungi.
Increased investments are also resulting in the development of antifungal resistance networks. In November 2024, the University of Exeter launched an antifungal resistance network worth approximately USD 2.16 million (£1.7 million). Fifteen projects that aim to reduce the growing threat of drug resistance fungal diseases in middle- and low-income countries received funding via the University's FAILSAFE project.
Hospital Pharmacies Account for a Significant Share of the Market
Hospital pharmacies accounted for a significant market share over the historical period and are expected to generate similar results over the forecast period. These pharmacies serve both in- and out-patients, enhancing patient experience and ensuring seamless treatment of fungal infections. The high preference for hospital pharmacies can be attributed to the presence of skilled professionals and pharmacists to guide patients about the potential side effects of the drugs and their appropriate use. Patients also prefer hospitals for receiving treatments for fungal infections due to the comprehensive care available across the healthcare institute, which includes monitoring treatment progress and follow-up consultations, ensuring improved treatment outcomes. Thus, increasing the reliance on hospital pharmacies.
Meanwhile, retail pharmacies are expected to witness significant growth in the coming years. The growth is supported by the convenience provided by these distribution channels because of their personalized services, competitive pricing and discounts, and privacy and discretion. Additionally, these pharmacies also stock OTC and prescription medications, offering a broad range of treatment options and catering to patients suffering from both mild and severe fungal infections.
North America Region Holds Major Market Share
The growth of the North American antifungal drugs market can be attributed to the rising cases of fungal infections in the region, the increase in hospitalization, the strong presence of leading pharmaceutical companies, and growing initiatives by the regional government to bolster public awareness.
Additionally, recent approvals from the regulatory bodies for introducing new antifungal drugs in the region support the market's expansion. In June 2024, Biocon Limited announced that they had secured approval for their complex and integrated injectable product micafungin, available in 100 and 50 mg vials from the United States Food and Drug Administration (US FDA). The drug has been indicated to treat a wide range of yeast and fungal infections. Such approvals are expected to boost the availability of effective treatment solutions in the region, providing lucrative growth opportunities for the market.
Meanwhile, the Asia-Pacific is expected to grow rapidly over the forecast period. This growth is supported by the presence of a large population, increasing investments towards the enhancement of the pharmaceutical and healthcare sectors, and rising prevalence of fungal infections in countries such as Japan.
Future Market Scenario (2025-2032F)
As per the global antifungal drugs market analysis, the market is expected to observe significant growth over the coming years due to the rising cases of fungal infections, growing awareness about the disease among the general population, increasing accessibility of therapies for fungal diseases, and rising investments by leading pharmaceutical companies towards novel product launches. The rapid expansion of the population is also expected to augment the number of cases of fungal diseases, boosting the global antifungal drugs market size. As per the estimates of the United Nations, the global population is projected to reach USD 9.7 billion in 2050.
Additionally, there has been a notable increase in research and development efforts to develop new antifungal agents. Innovations in drug formulations and mechanisms of action are expanding treatment options, particularly for resistant strains of fungi. This continuous pipeline of new products is anticipated to enhance market dynamics significantly.
Increased investments in healthcare infrastructure globally are also expected to facilitate better access to antifungal therapies, further driving market demand. The focus on improving medical facilities will likely lead to more patients seeking treatment for fungal infections.
Key Players Landscape and Outlook
The key players of the market are actively engaging in partnerships to expand their product portfolio and bolster the availability of fungal treatment solutions across different regions, supporting the market's expansion. In March 2023, SCYNEXIS, Inc. and GlaxoSmithKline plc announced an exclusive agreement for commercialization and development of Brexafemme (ibrexafungerp). Brexafemme is used for treating vulvovaginal candidiasis (VVC) and reducing incidences of recurrent VVC. Such activities are expected to augment the availability of antifungal medicines that provide a broad spectrum of activity against both emerging and existing strains of fungi, enhancing patient convenience and expanding the market share of the leading market players.
Additionally, in March 2024, the US FDA granted Astellas Pharma US, Inc.'s CRESEMBA (isavuconazonium sulfate) orphan drug and pediatric exclusivity for treating invasive mucormycosis (IM) and invasive aspergillosis (IA) in pediatric patients. As the first company to receive FDA approval for treating IM and IA in patients that are one year old, Astellas received orphan drug exclusivity, providing them with 7 years of exclusive marketing rights for CRESEMBA.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.