Asia-Pacific Antifungal Drugs Market is estimated at $1.94 billion in 2016 and is poised to be growing at a CAGR of 4.1%, to reach $2.38 billion by 2021.
In the following few years, the market is projected to grow enormously with the growing global population.
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Antifungal drugs are used to cure fungal infections which are usually caused by unclean, unhygienic and damp environment. Fungal infections are the invasion of epithelial tissue by microscopic organisms.
Systemic fungal infections are caused by the indigestion or inhalation of fungus spores and cause fungal pneumonia and opportunistic fungus causes diseases like candidaisis, meningitis, mucormycosis,.Most of the fungal infections and fungal diseases are generally non-lethal but they are very uncomfortable to live with.
Commonly occurring fungal infections are responsible for the rise of antifungal drugs market. Antifungal drugs work through various mechanisms such as by inhibiting cell wall formation, cell membrane disruption and cell division.
The major factors driving the market are rising awareness of fungal infections with the increasing incidence of antifungal infections all over the world, rising government and corporate funding in the industry. Further, more and more development of public private partnership in the pharmaceutical industry and the rising popularity of over-the-counter antifungal drugs for dermal infections is vastly responsible for the increasing the market size.
the increase of population with weak, in whom the occurrence of fungal infections is much more than average, will drive the market. Existing high penetration of conventional drugs used for the treatment of fungal infections is restraining the Asia-Pacific Antifungal drugs market’s growth.
The key challenges faced by the Asia-Pacific Antifungal drugs market are cost of drugs and their effectiveness in treatments. As many countries in Asia-Pacific are having emerging economies, the antifungal drugs market in the region is going to grow fastest.
The antifungal drugs market is segmented by drug type into Echinocandins, Azoles, Polyenes, Allylamines and Other Drugs. the market is segmented by type of therapeutic indications into Aspergillosis, Dermatophytosis, Candidiasis, Other therapeutic indications.
And the market is also segmented by applications into Powders, Ointments, Drugs, Pastes. While Azoles which include fluconazole, itraconazole, ketoconazole, posaconazole and voriconazole, are systemically acting, Echinocandins which include anidulafungin, caspofungin and micafungin are lipopeptides derived from natural fungal fermentation products and Polyenes which include include amphotericin B deoxycholate and liposomal amphotericin B.
Corifungin are systemically acting and disrupts eukaryotic cellular membranes. Azoles segment is the largest segment of the market followed by echinocandins.
On the basis of geography, the Asia-pacific antifungal drugs market is segmented into the countries China, India, Japan, South Korea. The Antifungal drugs market in Asia-Pacific is the fastest growing followed by Latin America.
India antifungal drugs market is the fastest growing in the Asia-pacific region.
Major market players dominating the market, include Alternaria, Pfizer, Novartis, Sanofi-Aventis, Merck & Co., Asperqillus, Bayer Healthcare, Kramer Laboratories, Enzon Pharmaceuticals, Glaxosmithkline Gilead and Abbott Laboratories.
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