Antifungal Drugs Market Will Generate New Growth Opportunities by 2024

Antifungal drugs medication is done for treating fungal infections with minimal side effects on the body. Basically this fungal infections are organism that feed by breaking down the living tissue these fungi are commonly known as dermatophytes. Dermatophytes can cause infection of the skin, hair and nail as they have a unique ability to utilize the keratin. There are some common fungal infections such as ringworm, athlete’s foot, fungal n ail infection and vaginal thrush these can be treated by antifungal drugs. Antifungal drugs works by either killing the fungal cell by causing the contents of the cell to break and leak out and the cell to die and also by preventing the cell from growing. There are different types of antifungal medicines such as topical antifungals which are mostly applied on the skin, nails or hair, secondly there are oral antifungals which are consumed or swallowed in capsule, liquid form or pill and last is intravenous antifungal which are directly injected in the blood stream so as to prevent the fungal infection. The antifungal drugs are segmented as over-the-counter drug products particularly for dermal infections. Advancement in technology and drug delivery is expected to boost the global antifungal market.

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According to Center of Disease Control and Prevention (CDC) approximately 46,000 new cases of Invasive candidiasis occur every year in U.S. which is a common bloodstream infection in U.S. The incidence rate of fungal infections such as Candida species causing infection vary substantially by geographic location and patient population and it is therefore causing challenge to healthcare professionals. The antifungal drugs market is mainly driven by the incidence and prevalence rate of the antifungal infections. Moreover due to benefits such as cost effective products, growing population of immunocompromised individuals and minimal side-effects physician are prescribing these products. Healthcare professionals are conducting patient education program for creating the awareness among the general population. However antifungal drugs market has some restraints such as presence of alternative therapies may hinder the growth of the antifungal drugs market.

The Global Antifungal drugs market is segmented on the basis of product form, distribution channel and regional presence: Segmentation based on product form Gels, Cream, Shampoo, Injections,Liquids or Spray, Tablets (Pill). Segmentation based on distribution channel Specialty Clinics, Hospital Pharmacies,Retail Pharmacies, E-commerce.

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With the fungal disease leading to increase in the incidence of fungal infections Antifungal drugs market is increasing very rapidly. Moreover significant rising awareness among general population and rise in disposable income will boost the Antifungal drugs market during the forecast period.

Geographically the Antifungal drugs market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific and MEA region.

In the United States, Candidemia is the common form of invasive candidiasis and a common bloodstream infections. North America followed by Europe is dominating the Antifungal drugs market as high incidence of fungal infections and development of novel antifungal biopharmaceuticals. In Asia Pacific region the antifungal drugs market is expected to deliver significant growth due to the rise in per capita income in this region which is expected to further fuel market demand.

This growth is also due to the increasing awareness towards personal safety and health care. China is expected to register significant market growth in antifungal drugs owing to the growing access of public with healthcare professional and growing economy. Also the antifungal drugs market is expected to become highly competitive due to entry of potential entrants in the market by the end of forecast period.

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Some major companies in the Antifungal drugs market are Pfizer, Sanofi-Aventis, Kramer Laboratories, Enzon Pharmaceuticals, Abbott Laboratories, Novartis, Merck & Co., Bayer Healthcare and Glaxosmithkline Gilead.