Anti-fungal Agents Market is Expected to Grow at a CAGR of 5.50% from 2022 to 2030

Pune, India, 19th April, 2022 /MRFR Press Release/- Market research future published a half-cooked research report on Middle East and Africa Anti-fungal agents market. The Middle East and Africa Anti-fungal agents market is expected to grow at a CAGR of 5.50% during the period 2022 to 2030.

Market Highlights

Anti-fungal agents are used in the treatment of infections caused by fungus. According to global action fund for fungal infection, globally, over 300 million people of all ages suffer from a serious fungal infection every year. The market drivers include rising prevalence of fungal infections, rising awareness, rise of immunity deficient population such as geriatrics, rise in exposure to infectious agents due to environmental factors such as pollution especially by particulates and agriculture residues and climatic conditions such as humidity and temperature, occupational hazards such as Jock itch, crowding etc. Growth of fungal infection due to off label use of broad spectrum antibiotics is a prime factor for the growing market for anti-fungal agents.

The market restraints include rising resistance to anti-fungal agents, use of air filters and air conditioning, excellent spectrum and efficacy of Azole class of anti-fungal agents, loss of patents and genericitization etc. Competition by generics is exceptionally strong and generics account for roughly 50% of total sales for anti-fungal agents. The market penetration is very easy as there has been loss of patents of block buster drugs. Over the counter drugs are an important reasons for the growth of anti-fungal agents market.

The Middle East and Africa anti-fungal agents market is segmented into therapeutic indication which is further segmented into aspergillosis, dermatophytosis, candidiasis and others. On the basis of drug class the sub-segments are azoles, pyrimidines, echinocandins, polyenes, allylamines, and others. By route of administration the market is further divided into oral, local and others.

The market for Middle East and Africa anti-fungal agents is extremely fragmented with a number of small and big players. The market is also affected by substandard and counterfeit products especially in poorer regions of Africa with weak regulatory framework. Product development especially for resistant fungal infections has the highest potential among all the strategies.

The antifungal agents market will reach USD 6.19 billion by 2030 and a CAGR of 5.50% in the forecast period by 2030.

Key Players:

The major participants of this market are: Novartis AG, Pfizer, Inc., Sanofi-Aventis, Merck & Co., Inc., Enzon Pharmaceuticals, Inc., Bayer AG, Astellas Pharma, Inc., GlaxoSmithKline plc, Abbott, Sigma-Aldrich and others

Middle East and Africa Anti-Fungal Agents Market:

The Middle East and Africa Anti-fungal agents market has been evaluated as a growing market and it is expected that the market will grow at a moderate CAGR in future. The Middle East and Africa Anti-fungal agents market is expected to grow with CAGR of ~5.50% during the forecast period. The growth will be primary channeled by the need of unmet medical needs, rising incomes of the population and the high prevalence of fungal infection in Africa. Environmental factors such as high humidity and temperature along with the rich biodiversity of Africa will positively affect the market growth of anti-fungal agents.

Depending on geographic region, anti-fungal agents market is segmented into following countries: UAE, Egypt, Saudi Arabia, Kuwait, Qatar and Oman. UAE is the largest market followed by Egypt. However the future market will be led by the poor developed parts of Africa due to large unmet needs and the seasonal climatic conditions of Africa. The eastern parts of Africa is expected to have greater market share as compared to the hot and dry western coast.

Segmentation:

Middle East and Africa anti-fungal agents market has been segmented on the basis of therapeutic indication which comprises into aspergillosis, dermatophytosis, candidiasis and others. On the basis of drug class; market is segmented into azoles, pyrimidines, echinocandins, polyenes, allylamines, and others. On the basis of route of administration; market is segmented into oral, local and others.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of  Anti Fungal Agents Market Research Report