Summary

The Anti-fungal Drugs Market was estimated to be USD 1.58 billion in 2020 and is poised to grow at a CAGR of 3.5% by 2026 to reach USD 1.94 billion.

The COVID-19 pandemic is expected to have a significant impact on the market. As the import and export activities have been restricted due to the lockdown, it is expected to negatively impact the market studied due to shortage and irregular supply of raw materials and finished medical supplies and drugs. However, this might allow local manufacturers to increase their presence in the market. Supply disruption and medicine shortages of medical supplies have been observed in several countries due to the temporary lockdowns of manufacturing sites, export bans, increased demands for medicine for the treatment of COVID-19, and the stockpiling of medicines by individuals.

Governments are taking measures in response to the disruption of the supply chain of medicines. For instance, the European Medicines Agency has issued guidance for companies responsible for manufacturing medicines with respect to the regulatory framework to address the challenges faced during this pandemic situation. These measures are aimed at minimizing the impact of pandemic on production and supply side. Due to the increasing incidences of the pandemic, many public and private organizations have taken initiatives and stepped forward to find a cure for the illness. There are now emerging reports of 2020 that suggest that as many as one-third of patients with severe COVID-19 infection requiring intensive care that may also be battling another life-threatening infection: Invasive aspergillosis, a deadly fungal superinfection caused by Aspergillus mold. Therefore, the researchers have found that patients with COVID-19 may be more at risk of lung infections caused by breathing in the mold. The scientists are thus working towards more research into this area. In the second wave of COVID-19 infections in India, scientists started diagnosing infected or recovering COVID-19 patients with Mucormycosis. In May 2021, the Drugs Controller General of India (DCGI) has cleared applications from five pharmaceutical companies to manufacture anti-fungal drug Amphotericin B, used to treat mucormycosis. Hence, this pandemic situation is expected to increase the demand for OTC products in the short-term but a decrease in the number of prescriptions and diagnosis drugs with disruption in the supply chain of medical supplies that can result in a temporary setback for the market.

The major factors augmenting the growth of the anti-fungal drugs market include increasing awareness about the myriad fungal infections, increasing the number of antifungal drugs available over-the-counter (OTC), and the increase in use of anti-fungal drugs in developing countries. With the rising popularity of over-the-counter (OTC) drugs such clotrimazole, econazole, ketoconazole, miconazole, and amorolfine, many patients are found to prefer OTC drugs to obtain a prescription from a healthcare professional. Increasing in onychomycosiscases, which is a fungal infection of the fingernails and toenails is also expected to boost market growth. For instance, according to the article published Myron A. Bodman on National Institute of Health 2020, the onychomycosis is increasing across the globe and the prevalence estimate range from 1% to 8% of total Nail infection. In addition to the same source patients are generally susceptible to dermatophyte infections in an autosomal dominant pattern and the risk factors associated with this condition are aging, diabetes, tinea pedis, psoriasis, and immunodeficiency among others. Additionally, according to the article “High prevalence of mixed infections in global onychomycosis” published in September 2020, the prevalence of onychomycosis was estimated to be 10% worldwide with the infecting organism most commonly being Trichophyton rubrum. Increase burden of infections like onychomycosis are expected to boost the market growth over the forecast period.

Key Market Trends

The Azoles Segment is Expected to be Among the Major Contributors to the Market

Anti-fungal drug research is gaining momentum, owing to the development of new anti-fungal drugs using the azole group. Azoles are synthetic and semi-synthetic compounds, widely used for superficial and invasive fungal infections. These drugs are used to treat thrush, yeast infection, candidiasis, aspergillosis, tinea versicolor, athlete's foot, jock itch, ringworm, fungal infections, systemic mycosis, and seborrheic dermatitis. The azole anti-fungal group includes two classes the triazoles (fluconazole, itraconazole, voriconazole, posaconazole, and isavuconazole) and the imidazoles (ketoconazole). Triazoles have a broad range of applications in the treatment of superficial and systemic fungal infections. The azole group offers a broad spectrum of activity and improved safety levels. The drugs have fewer adverse effects, less serious drug interactions, and improved absorption and distribution properties. The aforementioned benefits of azoles have contributed toward their dominance over other segments. The azoles are thus currently the most widely used and studied class of anti-fungal agents. The drugs are available in different formulations (capsule, cream, sterile IV solution, lotion, vaginal cream, and tablet).

The advancements and innovations in such potential drugs fuel the competitiveness of the pharmaceutical market. Sales of both the established agents and newly launched anti-fungal agents are significant. Furthermore, in 2019, Mayne Pharma announced the launch of TOLSURA (SUBA-itraconazole) 65mg capsule in the United States. TOLSURA is a formulation of itraconazole indicated for the treatment of systemic fungal infections, including blastomycosis, histoplasmosis, aspergillosis, and others. Hence, all these factors are expected to contribute to the segment growth over the forecast period.

However, there are some issues reported earlier, such as an increased resistance is being observed among the Candida and Aspergillus species, particularly to azoles, which is believed to be driven by the use of azoles in agriculture. Many developed countries are seeing high infection rates too, which is expected to boost market demand.

North America is Expected to Account for the Largest Market Share

The United States is one of the most developed economies across the world. It currently holds the major share of the market. Fungal diseases in the U.S have presented challenges to the healthcare authorities in the country. According to the Centers for Disease Control and Prevention (CDC), resistance for certain types of Candida (which happens to be the most common cause of healthcare-associated bloodstream infections in the United States) has been noticed. Approximately 7% of all the Candida bloodstream isolates tested at CDC are resistant to fluconazole. This observation remained fairly constant over the past two decades. However, echinocandin resistance has been on the rise. In addition to this, the incidences of multi-drug resistance have also increased in the country. Also, the aging population is on the rise in the United States. According to World Population Ageing 2019 report, around 53,340 people are aged 65 years and above in 2019, and this population is expected to reach 70,842 by 2030, which represents about 20% of the total population in the country. This population is more susceptible to chronic diseases, such as cancer, thereby compromising the immune system. Thus, the population would be more susceptible to fungal diseases, which will drive the demand for anti-fungal drugs in the country. This population is more susceptible to chronic diseases, thereby, compromising the immune system. Thus, the population would be more susceptible to fungal diseases, which will drive the demand of anti-fungal drugs in the country. The incidence and mortality rates associated with the fungal disease have remained unchanged for more than a decade, despite major advances in the field of anti-fungal therapy. This persistent high prevalence rate of the fungal disease will provide opportunities for pharmaceutical players in the country to develop novel and more effective drugs for fungal diseases, leading to market growth.

Competitive Landscape

The market studied is moderately consolidated, owing to the presence of a few small and some very big players. Some of the market players are Abbott Laboratories, Bayer AG, Astellas Pharma Inc., Glenmark, GlaxoSmithKline PLC, Merck & Co. Inc., Novartis AG, Pfizer Inc, etc.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Awareness about the Myriad Fungal Infections
4.2.2 Increasing Number of Antifungal Drugs as Over-The-Counter (OTC)
4.2.3 Rising Consumption of Anti-fungal Drugs in Developing Regions for a Variety of Medical Conditions
4.3 Market Restraints
4.3.1 Medical Conditions
4.3.2 Increasing Resistance to Antifungal Drugs
4.3.3 Side Effects of Antifungal Drugs
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Drug Type
5.1.1 Echinocandins
5.1.2 Azoles
5.1.3 Polyenes
5.1.4 Allylamines
5.1.5 Other Drug Types
5.2 By Indication
5.2.1 Aspergillosis
5.2.2 Dermatophytosis
5.2.3 Candidiasis
5.2.4 Other Indications
5.3 By Dosage Form
5.3.1 Powder
5.3.2 Ointments
5.3.3 Tablets
5.3.4 Other Dosage Forms
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Astellas Pharma Inc.
6.1.3 Bayer AG
6.1.4 GlaxoSmithKline PLC
6.1.5 Glenmark
6.1.6 Arcadia Consumer Healthcare
6.1.7 Merck & Co. Inc.
6.1.8 Novartis AG
6.1.9 Pfizer Inc.
6.1.10 SCYNEXIS Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS