Surge in the prevalence of fungal infections along with rise in the awareness levels pertaining to myriad fungal infections facilitate the growth of the global antifungal drugs market. Furthermore, patent expirations and increasing funding effects of antifungal diseases offer lucrative opportunities. The North America region contributed to more than one-third of the total antifungal drugs market share in 2017. This segment is expected to maintain its dominance throughout the forecast period.
The global Antifungal Drugs market generated $14.23 billion in 2017 and is estimated to reach $17.72 billion by 2023, growing at a CAGR of 3.7% from 2017 to 2023. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Favorable government funds to combat the antifungal diseases along with the increasing prevalence of fungal infection drive the growth of the market. Furthermore, rising awareness levels pertaining to myriad fungal infections supplement the market growth. However, the growing population with antifungal drug resistance and the presence of counterfeit drugs and side effects of antifungal drugs restrict the growth. On the other hand, patent expirations and increasing funding from public & private organizations offer lucrative opportunities for the market.
Based on the region, Asia-Pacific would grow at the fastest CAGR of 4.5% from 2017 to 2023. However, the North America region contributed more than one-third of the total share in 2017 and is estimated to maintain its dominance during the forecast period. The report also includes the study of different regions such as Europe and LAMEA.
Based on therapeutic indication, Candidiasis segment held more than one-third of the total market share in 2017 and will maintain its dominance throughout the forecast period. However, the Dermatophytosis segment is estimated to register the highest growth rate with a CAGR of 4.1% from 2017 to 2023.
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The leading market players analyzed in the research include the GlaxoSmithKline Plc. Pfizer Inc., Enzon Pharmaceuticals, Inc., Sanofi S.A., Scynexis Inc., Gilead Sciences, Inc., Bayer AG, Merck & Co., Inc., Abbott Laboratories, and Novartis International AG. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.