Published By : 20 Dec 2016 | Published By : QYRESEARCH
Antifungal drugs that help to counter fungal pathogens inside the human body, have seen a robust growth in their global market due to the rising instances of fungal infections brought about by the increasing unhygienic conditions in populated cities and towns worldwide. Other factors driving growth in the global antifungal market are greater awareness about fungal infections, the abundant availability of a wide array of antifungal drugs in the market, and the high demand for over-the-counter antifungal drugs. Such drugs act as a detriment to fungal cell wall development and rapid proliferation of cells. The antifungal therapies are available in the form of pastes, powders, drugs, and ointments in the market.
Countering the growth in the market is the increasing inefficacy of antifungal drugs due to the growing resistance developed by fungi and their expensiveness. Side-effects such as allergies caused by such drugs has also negatively impacted their rapid uptake.
Entry of New Players to Heat up Competition in the Market
The global market for antifungal drugs is highly competitive. The environment is cutthroat both at the global and regional levels. In the near future, the competition will likely heat up further on account of the emergence of many new players in the industry. Also stoking the competition are favorable government initiatives such as sagacious collaborations with private players which have aided pharma operators from anti-fungal drug category to expand further.
Rising Prevalence of Fungal Infection Makes North America Dominant Market
Geography-wise, the market for antifungal drugs can be segmented into Asia Pacific, North America, Europe, and the Rest of the World. North America dominates the market on account of the considerable occurrence of fungal infections and innovative antifungal biopharmaceuticals being developed in the region. Asia Pacific, powered by China and India, is anticipated to see substantial growth in the coming years on the back of rising awareness about healthcare and personal care and growing spending power of the people in the region. The tropical country of India is a veritable breeding ground for different kinds of fungi and hence fungal infections. This provides ample opportunities to pharma operators to purvey their anti-fungal drugs.