Global Antifungal Drug Market valued approximately USD 14.27 billion in 2017 is anticipated to grow with a healthy growth rate of more than 3.85% over the forecast period 2018-2025. Global Antifungal Drug Market to reach USD 19.30 billion by 2025.The rising incident of many Fungal infections. These infections may lead to death in patients with a compromised immune system, such as in individuals who acquired immune deficiency syndrome and leukemia, and is termed as opportunistic infections.
The increasing prevalence of infectious diseases and hospital-acquired infections is expected to fuel the demand for therapeutics over the forecast period. Fungal infection is found to attack both superficial and systemic parts of the body, in the skin, eye, mouth, and vagina, leading to diseases, such as athlete’s foot, fungal meningitis, and ringworm, which are treated using antifungal products. A wide range of fungicidal preparations, such as creams, sprays, tablets, and injections, are available and increasing adoption of these products is predicted to drive the demand over the next seven years.
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries.
According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
The regional analysis of Global Antifungal Drug Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America, on account of high patient awareness levels and R&D intensity pertaining to new drug development, led the market in 2017 Other regions, such as Asia Pacific and Latin America, growing at a faster growth rate. Asia Pacific is anticipated to witness the fastest CAGR during the forecast period. The presence of huge target population, growing establishment of healthcare facilities, and high unmet clinical needs related to fungal diseases are anticipated to provide a potential growth platform to this region for pharmaceutical players.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Drug Class:
§ Azoallyamines,
§ Echinocandins
§ Polyenes,
§ Allyamines,
§ Others
By Indication:
§ Dermatophytosis
§ Aspergillosis
§ Candidiasis
§ Others
By Regions:
§ North America
o U.S.
o Canada
§ Europe
o UK
o Germany
§ Asia Pacific
o China
o India
o Japan
§ Latin America
o Brazil
o Mexico
§ Rest of the World
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.”
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