The global Antifungal Drugs market accounted to US$ 10,182.3 Mn in 2018 and is expected to grow at a CAGR of 3.2% during the forecast period 2019 – 2027, to account to US$ 13,524.2 Mn by 2027.
The market for Antifungal Drugs is expected to grow significantly due to factors such as rising incidences for the fungal infection of the skin, nails and hair, increasing incidences of cancers, HIV, and hospital-acquired infections and favorable government initiatives to combat the antifungal diseases are likely to drive the growth of the Antifungal Drugs market. However, lack of awareness regarding the fungal infections may restrict the growth of Antifungal Drugs market.
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The major players operating in the Antifungal Drugs market include, Pfizer Inc., Sanofi S.A., Gilead Sciences, Inc., Merck And Co., Inc., Scynexis Inc., Novartis International AG, Abbott Laboratories, Bayer AG, Glenmark Pharmaceutical, and Glaxosmithkline Plc.
Global Antifungal Drugs market was segmented by infection type, drug type, therapeutic indication, and dosage form. On the basis of the infection type, the market is segmented as superficial fungal infection and systemic antifungal infection. Based on the drug type, the Antifungal Drugs market is segmented into echinocandins, azoles, polyenes, allylamines, and others. On the basis of the therapeutic indication, the Antifungal Drugs market is segmented into aspergillosis, dermatophytosis, candidiasis, and others. By dosage form, the market is segmented into drugs, ointment, powder, and others.
The market has carried out various organic and inorganic growth strategies in the market which has assisted in strengthening their product offering in the market.
Superficial fungal infection segment is expected to drive the market for antifungal drugs over the forecast period by infection type segment.
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Strategic Insights
Organic and inorganic growth strategies were observed in global Antifungal Drugs industry. The organic strategies which were conducted more compared to the inorganic strategies for the Antifungal Drugs. For instance, in November, 2017, Merck & Co., Inc. declared that the U.S. Food and Drug Administration (FDA) approved PREVYMIS (letermovir) to be uses as once-daily tablets for oral use and injection for intravenous infusion. Thus, the organic strategy has enabled the company to grow its business in the market.
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