The global antifungal drugs market size was estimated at USD 15.8 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2030. The growing prevalence of fungal infections such as aspergillosis and candidiasis is one of the key factors propelling the market. Fungal infections encompass both systemic and superficial infections including infections of the skin, eye, mouth, and vagina. Antifungal products with fungicidal activity are mostly used to treat a wide array of diseases, such as athlete's foot, ringworm, and fungal meningitis, caused by fungal agents. Mounting cases of hospital-acquired or nosocomial infections and infectious diseases are poised to propel the growth of the market during the forecast period.

Fungal diseases are a public health problem as they can affect any individual. However, there is severe threat of fungal infections to people with weak immune responses such as patients with AIDS. There is a high possibility of development of opportunistic fungal infections in these patients. According to statistics published by the CDC, every year, nearly 152,000 new individuals are affected by cryptococcal meningitis, which is a brain infection and has resulted in 112,000 deaths per year globally. Most of the deaths are reported in sub-Saharan Africa, as the prevalence of HIV/AIDS is more in these countries. This indicates a potential unmet need for highly potent antifungal drugs.

Gather more insights about the market drivers, restrains and growth of the Antifungal Drugs Market

Detailed Segmentation:

Distribution Channel Insights

Hospital pharmacies led the market in 2023. Hospital pharmacies play a key role in ensuring immediate access to crucial medications. They serve both out-patient and in-patient services, facilitating the seamless treatment of fungal infections. Key drivers for this dominance include their proximity to hospitals, ensuring easy medication access, and providing emergency medication services. The segment's dominance is further underscored by factors such as accessibility, cost-effectiveness, adherence to clinical guidelines, and the global increase in prescription rates, especially with the introduction of fluconazole, driving the consumption of antifungal agents worldwide. Triazoles and terbinafine are witnessing expanded usage due to evolving prescribing patterns and resistance epidemiology changes. Despite their life-saving potential, parenterally administered antifungals such as echinocandins and polyenes may be underutilized.

Regional Insights

North America dominated the market and accounted for 40.9% share in 2023. This region dominance is attributed to the highly developed healthcare infrastructure, better affordability, and increasing awareness. Key players are constantly trying to gain a greater market share through various strategic initiatives. Players in the U.S. are leveraging their commercialization abilities to improve their profit margins. In March 2023, Cidara and Melinta announce FDA approval of REZZAYO (rezafungin for injection) for treating candidemia and invasive candidiasis in adults with limited options. It's a novel once-weekly echinocandin, the first FDA-approved in over a decade, offering potential improvements in managing fungal infections, as demonstrated in clinical trials. Such factors are likely to fuel the market in the country.

Drug Class Insights

The Azoles drug class segment dominated the market and accounted for a revenue share of 47.6% in 2023. This dominance is attributed to the influence of key therapeutic agents, including noxafil, vfend, diflucan, and cresemba. Azoles stand out due to their broad-spectrum activity, effectively inhibiting fungal enzymes and supporting fungistatic actions. They treat various conditions such as candidemia, blastomycosis, systemic candidiasis, and ocular fungal infections. Systemic fungal infections are categorized into triazoles and imidazoles, with triazoles offering improved safety profiles, reduced adverse effects, and enhanced absorption, thereby contributing to the growth of this segment.

Indication Insights

The Candidiasis segment held the largest market share in 2023 due to rising incidence of the disease in immunocompromised patients and high rate of recurrent infections. An increase in the prevalence of opportunistic fungal infections is anticipated to fuel the demand for antifungals over the forecast period. Furthermore, the most commonly occurring systemic fungal infection is systemic candidiasis. Candidiasis is an infection caused by yeast known as candida. It can impact the skin, mouth, gut, throat, penis, and vagina. As per CDC, one of the most common bloodstream infections is candidemia, and it has an incidence rate of 9 per 100,000 people, approximately affecting 25,000 people annually.

Dosage Form Insights

Oral drugs dosage form led the market in 2023. This is attributed to the fact that certain antifungal medications are designed for oral administration to ensure proper ingestion. For instance, oral antifungal medications are commonly prescribed to treat throat and mouth yeast infections, such as thrush. Moreover, oral antifungal medications pose a higher risk of drug interactions compared to over-the-counter topical antifungal creams.

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Key Antifungal Drugs Company Insights

• Pfizer, Inc. is engaged in discovery, development, and manufacture of pharmaceutical products. It has a portfolio of vaccines and medicines. The company operates through two business segments: Essential Health (EH) and Innovative Health (IH).

• Merck & Co., Inc. is a global healthcare company involved in development, discovery, manufacture, and commercialization of prescription, branded, & over-the-counter vaccines, pharmaceuticals, and consumer care products for human & animal healthcare markets

• Enzon Pharmaceuticals, Inc. and Astellas Pharma, Inc. are some of the emerging market participants in the antifungal drugs market.

• Astellas Pharma, Inc. is engaged in import/export, manufacture, and marketing of pharmaceuticals. The company has products in the following segments: oncology, neurology, urology, nephrology, immunology, and women's health treatments.

Key Companies profiled:

• Novartis AG
• Pfizer, Inc.
• Bayer AG
• Sanofi
• Merck & Co., Inc.
• GlaxoSmithKline plc
• Abbott
• Glenmark
• Enzon Pharmaceuticals, Inc.
• Astellas Pharma, Inc.

Antifungal Drugs Market Segmentation

Grand View Research has segmented the global antifungal drugs market report based on drug class, indication, dosage form, distribution channel, and region:

Antifungal Drug Class Outlook (Revenue, USD Million, 2018 - 2030)
• Azoles
• Echinocandins
• Polyenes
• Allylamines
• Others

Antifungal Drugs Indication Outlook (Revenue, USD Million, 2018 - 2030)
• Dermatophytosis
• Aspergillosis
• Candidiasis
• Others

Antifungal Drugs Dosage Form Outlook (Revenue, USD Million, 2018 - 2030)
• Oral Drugs
• Ointments
• Powders
• Others

Antifungal Drugs Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
• Hospital Pharmacies
• Retails Pharmacies
• Others

Antifungal Drugs Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Denmark
o Norway
o Sweden
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East and Africa (MEA)
o Saudi Arabia
o UAE
o South Africa
o Kuwait

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Recent Developments

• In December 2023, Astellas Pharma received FDA approval for Cresemba, an antifungal drug, to treat invasive aspergillosis (IA) and invasive mucormycosis (IM) in children.

• In November 2023, Basilea Pharmaceutica acquires rights to fosmanogepix, a broad-spectrum antifungal, through an agreement with Amplyx Pharmaceuticals. The transformative move strengthens Basilea's clinical antifungal pipeline, with plans for phase 3 studies.

• In October 2023, Basilea Pharmaceutica acquires GR-2397, a clinical-stage antifungal compound, from Gravitas Therapeutics. Rebranded as BAL2062, it targets invasive mold infections, completing a phase 1 study. Basilea plans preclinical profiling, targeting phase 2 by H1 2025. The upfront payment is USD 2 million.