The antifungal drugs market is a very successful over-the-counter drug segment, in which robust generic competition is slated to rake in almost 65% to 70% of total market revenues in the near future. The market is characterized by stiff competition both at the global and regional levels and going forward the competition will likely heat up further on account of the foray of many new entrants in the industry.
The global antifungal drugs market is segmented based on drug type, therapeutic indications, dosage forms, infection type, and geography. Based on drug type, it is classified into echinocandins, azoles, polyenes, allylamines, and other drugs. Furthermore, based on therapeutic indications the market is categorized into aspergillosis, dermatophytosis, candidiasis, and others. In terms of dosage forms, it is divided into powders, ointments, drugs, and pastes.
Availability of generic drugs for treatment of fungal infections is another factor that is expected to drive growth of this market. For instance, in 2016, Ajanta Pharma launched voriconazole tablets (50-mg and 200-mg dose) in the U.S market. Voriconazole tablets are the generic equivalent of Pfizer’s Vfend, an antifungal drug.
The incidence of fungal infections due to numerous diseases has increased over the last few decades. Furthermore, bloodstream infection incidence is bimodal, with adult people and premature babies having the maximum risk. Cancer treatment using chemotherapy and radiation causes various changes in the body as they destruct cancer cells. Among the significant difference, one is that this treatment weakens the immune system that increases the chances of getting a fungal infection
Increasing prevalence of HIV in Asia Pacific region is the key factor for the market growth. Rising awareness about the antifungal treatment and availability of new treatment methods drive the market in Asia Pacific region. In Asia Pacific, the market shows growth opportunities in China and India. China is expected to be the fastest growing market with the CAGR of 5.24% during the forecasted period.
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