global Antifungal Drugs market generated $14.23 billion in 2017 and is estimated to reach $17.72 billion by 2023

18/dic/2020 17:00:33 Automotive Market Research Reports Contatta l'autore

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Rise in prevalence of fungal infections worldwide along with an increase in public funding to develop subsequent medication propels the growth of the global antifungal drugs market.

According to the report, the global Antifungal Drugs market generated $14.23 billion in 2017 and is estimated to reach $17.72 billion by 2023, growing at a CAGR of 3.7% from 2017 to 2023. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.

The surge in prevalence of fungal infections worldwide, increase in knowledge of myriad fungal infections among populace, and rise in government funds to tackle antifungal diseases drive the growth of the global antifungal drugs market. Additionally, expiration of existing patents and rise in funding from public & private organizations would provide lucrative opportunities to emerging market players in the near future. However, growth in population that possess antifungal drug resistance and side-effects associated with antifungal drugs hamper market growth.

Based on dosage form, the drugs segment held nearly one-third of the total market share in 2017 and will maintain its dominance throughout the forecast period. Furthermore, this segment is estimated to register the highest growth rate with a CAGR of 4.2% from 2017 to 2023.

Based on the region, Asia-Pacific would grow at the fastest CAGR of 4.5% from 2017 to 2023. However, the North America region contributed more than one-third of the total share in 2017 and is estimated to maintain its dominance during the forecast period. The report also includes the study of different regions such as Europe and LAMEA.

Drugs to dominate the global market based on dosage

By dosage form, drugs are not only anticipated to remain the dominant segment in the near future but are also projected to grow at the fastest CAGR of 4.2%. They are expected to generate more than 30% of the global market revenue by 2023, owing to their stability with respect to physical, chemical, and microbiological attributes that help in providing accurate dosage to the patients.

The leading market players analyzed in the research include the GlaxoSmithKline Plc. Pfizer Inc., Enzon Pharmaceuticals, Inc., Sanofi S.A., Scynexis Inc., Gilead Sciences, Inc., Bayer AG, Merck & Co., Inc., Abbott Laboratories, and Novartis International AG. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.

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