PUBLISHER: The Business Research Company | PRODUCT CODE: 1426383
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426383
Candidiasis, a fungal infection caused by the overgrowth of Candida species, commonly affects areas such as the mouth, throat, gut, and genital regions. The primary methods of treating candidiasis involve antifungal medications, which can be either topical (applied to the affected area) or oral (ingested), depending on the severity and location of the infection.
Candidiasis therapeutics encompass various treatment approaches, including medication, surgery, and other interventions. Medication involves the use of pharmaceutical drugs to manage or alleviate the condition. The treatments target specific anatomical sites such as oral candidiasis, vulvovaginal candidiasis, cutaneous candidiasis, invasive candidiasis, and systemic candidiasis. These medications can be administered through various routes, including injectable, oral, and others, catering to both adult and pediatric patients. The end-users for these treatments include hospitals, homecare settings, specialty clinics, and other healthcare facilities.
The candidiasis therapeutics market research report is one of a series of new reports from The Business Research Company that provides candidiasis therapeutics market statistics, including candidiasis therapeutics industry global market size, regional shares, competitors with a candidiasis therapeutics market share, detailed candidiasis therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the candidiasis therapeutics industry. This candidiasis therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The candidiasis therapeutics market size has grown steadily in recent years. It will grow from $3.06 billion in 2023 to $3.19 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth observed in the historic period can be attributed to various factors, including the increased incidence of candidiasis, antibiotic use and resistance, the prevalence of hospital-acquired infections, shifts in fungal resistance patterns, and the impact of awareness and education programs. These factors collectively contributed to the demand for candidiasis therapeutics and the adoption of treatment measures during this period.
The candidiasis therapeutics market size is expected to see steady growth in the next few years. It will grow to $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The anticipated growth in the forecast period can be attributed to the adoption of precision medicine approaches, the implementation of global antifungal stewardship programs, the increasing prevalence of Candida auris, and global efforts against antifungal resistance. Additionally, major trends expected in the forecast period include advancements in drug delivery technologies, the rise of telemedicine and remote patient monitoring, a shift towards patient-centric care, the exploration of combination therapies, and collaborative research initiatives. These trends are likely to shape the landscape of candidiasis therapeutics in the coming years.
The projected rise in fungal infections is poised to act as a significant driver propelling the growth of the candidiasis therapeutics market in the upcoming period. Fungal infections, caused by diverse fungi, can affect various human body parts, including the skin, mucous membranes, and internal organs. The escalating instances of compromised immune systems among individuals and the growing prevalence of fungal infections heighten the vulnerability to candidiasis. This scenario presents an opportunity for manufacturers to develop and supply specialized, more efficacious antifungal drugs that target underlying fungal pathogens. These drugs aid in symptom alleviation, complications prevention, patient recovery, containment of Candida infections within healthcare settings, and contribute to enhanced patient outcomes. As indicated by the Centers for Disease Control and Prevention (CDC) in July 2023, fungal infection-related hospitalizations surged to a total of 59,212 by 2021. Furthermore, the hospitalization rate escalated from 25.0 in 2020 to 26.8 in 2021 per 10,000 hospitalizations, showing an average annual increase of 8.5%. Notably, fungal hospitalizations exhibited notably high death rates, particularly among COVID-19 patients associated with aspergillosis (57.6%), invasive candidiasis (55.4%), mucormycosis (44.7%), and unspecified mycoses (59.0%). Hence, the escalating incidence of fungal infections is anticipated to drive the growth of the candidiasis therapeutics market.
The increasing number of clinical trials is expected to further fuel the growth trajectory of the candidiasis therapeutics market. Clinical trials serve as pivotal research studies aimed at assessing the safety and efficacy of novel medical treatments, interventions, drugs, or devices in human subjects. Within the domain of candidiasis therapeutics, these trials play a crucial role by offering a systematic and stringent evaluation platform for testing the safety and effectiveness of potential treatments. As reported by ClinicalTrials.gov in May 2023, the number of registered clinical trials surged to around 437,533 in 2023, compared to 399,499 registered studies in 2022 across all 50 states of the United States and spanning 221 countries. This increase underscores the rising momentum and significance of clinical trials in shaping the landscape of candidiasis therapeutics. Consequently, the burgeoning number of clinical trials emerges as a key factor driving the growth of the candidiasis therapeutics market.
The potential side effects associated with antifungal drugs used in treating candidiasis are poised to act as a significant restraint on the growth trajectory of the candidiasis therapeutic market. These medications can lead to adverse effects and potential toxicity when used over prolonged periods, posing a challenge in balancing treatment efficacy with patient safety. For instance, data published by the Korean College of Clinical Pharmacy in September 2022 reported a cumulative total of 901 adverse events linked to antifungal drugs, including oral fluconazole, with 422 specifically associated with itraconazole until April 2022. Furthermore, there were 86 adverse event reports for fluconazole and 46 for itraconazole in 2021. Such findings indicate the considerable impact of side effects attributed to antifungal drugs, which could impede the growth prospects of the candidiasis therapeutic market.
Leading companies operating within the candidiasis therapeutics market are dedicatedly engaged in developing innovative drugs, such as BREXAFEMME (ibrexafungerp tablets), aimed at mitigating the occurrence of recurrent vulvovaginal candidiasis (RVVC) in adult women. BREXAFEMME (ibrexafungerp tablets) constitutes an oral, non-azole medication designed for the treatment of vulvovaginal candidiasis (VVC) and reducing the incidence of recurrent vulvovaginal candidiasis (RVVC), commonly known as chronic yeast infections. For instance, in December 2022, Scynexis Inc., a prominent US-based pharmaceutical company, secured approval from the US Food and Drug Administration (FDA) for BREXAFEMME (ibrexafungerp tablets). The medication targets Candida albicans, the fungus responsible for VVC, by obstructing its growth. Notably, BREXAFEMME is deemed a safe and effective treatment option for vulvovaginal candidiasis (VVC), available solely through prescription, with a recommended dosage of one 150-mg capsule taken orally once daily for a single day. This innovative drug stands as a promising advancement in addressing candidiasis, offering a viable treatment solution while navigating potential concerns related to adverse drug effects.
In May 2023, GSK plc, a prominent UK-based pharmaceutical company, finalized the acquisition of Licensing rights for ibrexafungerp from Scynexism Inc. in a transaction amounting to $90 million. This strategic acquisition grants GSK exclusive rights to further the development and commercialization of ibrexafungerp drugs, a groundbreaking antifungal medication designed for the treatment of vulvovaginal candidiasis (VVC). The acquisition is aimed at expediting the advancement and market availability of ibrexafungerp. Scynexism Inc., a notable US-based pharmaceutical company specializing in therapeutic solutions for fungal diseases, including candidiasis, initially developed this innovative medication.
Major companies operating in the candidiasis therapeutics market report are Pfizer Inc., Biocon Limited, Torrent Pharmaceuticals Ltd., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A., AstraZeneca plc., GSK plc., Amgen Inc., Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., Cipla Inc., Bruker Corporation, Lupin Limited, Galapagos NV, Basilea Pharmaceutica Ltd., WOCKHARDT Limited, Pacgen Life Science Corporation, Cidara Therapeutics Inc., Ablynx NV, Amplyx Pharmaceuticals Inc., NovaDigm Therapeutics Inc., SCYNEXIS Inc., Medivir AB, Mycovia Pharmaceuticals Inc., NovaBiotics Inc., Matinas BioPharma Holdings Inc.
North America was the largest region in the candidiasis therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the candidiasis therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the candidiasis therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The candidiasis therapeutics market consists of revenues earned by entities by providing services such as medication services, diagnostic tests, consultation services, and medical monitoring services. The market value includes the value of related goods sold by the service provider or included within the service offering. The candidiasis therapeutics market also includes sales of topical creams and ointments, oral medications, medical devices, probiotics, nutritional supplements and antifungal medications that are used in providing these services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Candidiasis Therapeutics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on candidiasis therapeutics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for candidiasis therapeutics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The candidiasis therapeutics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.