The global antifungal drugs market was valued at USD 13 billion in 2016 and is expected to surpass USD 15 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global antifungal drugs market, under its infectious and rare diseases portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Pfizer, Merck, Astellas Pharma, Novartis, and Johnson & Johnson.
According to Sapna Jha, a lead analyst for infectious and rare diseases research at Technavio, “The rising popularity of OTC (over the counter) antifungal drugs for dermal infections to drive the global antifungal drugs market. Many OTC products or cosmeceuticals are available in the market for the treatment of dermal infections.”
Extensive advertisements and endorsements of OTC products have increased their sales over prescription drugs. OTC products are cost-effective in nature compared to their branded counterparts. Moreover, few of OTC topical antifungal medication, including miconazole nitrate, butenafine hydrochloride, clotrimazole, tolnaftate, and terbinafine hydrochloride are considered safe and effective for use in the treatment of mild to moderate fungal skin infections.
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Increased funding for antifungal research
Currently, few companies are investing in the discovery and R&D of drugs for these infections, due to the increased regulatory guidelines and the decreased profits available for the development of antifungal pills. However, the increase in the number of infection is creating an unmet medical need in the market. To fulfill the need, various government and non-governmental institutes are likely to provide the necessary funding to the research institutes and companies.
Incorporation of novel technology for product development
The incorporation of novel technologies in the development of products for the treatment of fungal infections is one of the upcoming trends in the market. For instance, the development of Onmel by Merz Pharmaceuticals containing the active ingredient itraconazole was done using the Meltrex technology of Abbott. The use of this technology makes the drug more effective by allowing the otherwise poorly soluble drugs to be more bioavailable in a tablet. Thus, the use of new technologies for the development and delivery of the drugs helps in increasing its efficacy, thereby providing better treatment options.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Antifungal Drugs Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Anesthesia Drugs Market 2017-2021
- Global Orphan Drugs Market 2017-2021
- Global Alopecia Drugs Market 2016-2020
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