Antifungal Treatment Market

Increasing incidence of fungal infections

 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. According to the Centers for Disease Control and Prevention (US), more than 75,000 hospitalizations and nearly 9 million outpatient visits occur every year for fungal diseases in the US.

Moreover, there are several products available associated with different routes of administration on the market for the treatment of fungal infections, such as oral and intravenous medicines, creams, sprays, shampoos, solutions, pessaries, and injections. In addition, increasing launches of innovative products is further fueling the growth of the market. For instance, in May 2022, Bayer AG (Germany) launched a new and improved Canesten antifungal treatment solution in India. The product line, which is available in powder and cream forms, has anti-fungal properties that aid in the prevention and treatment of skin infections.

The antifungal cream provides relief from infection, and the mild steroid cream reduces the inflammation due to infection.

Hence, the high availability of different routes of administration and the rising prevalence of different types of fungal infections are fostering market growth.

The Global Antifungal Treatment Market Industry is characterized by various trends and projections that indicate its future trajectory. The market is expected to reach 16.9 USD Billion in 2024, with a gradual increase to 19.6 USD Billion by 2035. This growth reflects a compound annual growth rate (CAGR) of 1.4% from 2025 to 2035. Factors such as rising incidences of fungal infections, advancements in drug development, and increased awareness are likely to shape the market landscape. These trends suggest a robust future for the antifungal treatment sector, driven by ongoing innovations and evolving healthcare needs.

Increased awareness and education regarding fungal infections are pivotal drivers of the Global Antifungal Treatment Market Industry. Public health campaigns and educational initiatives by healthcare organizations aim to inform both healthcare professionals and the general public about the risks associated with fungal infections. This heightened awareness leads to earlier diagnosis and treatment, ultimately increasing the demand for antifungal therapies. As healthcare systems prioritize infection control, the market is likely to benefit from a more informed patient population. Consequently, this trend may contribute to a steady growth rate, with a projected CAGR of 1.4% from 2025 to 2035.

Emerging markets are playing a crucial role in the expansion of the Global Antifungal Treatment Market Industry. Countries with developing economies are witnessing an increase in healthcare expenditure, leading to improved access to antifungal treatments. As these nations invest in healthcare infrastructure, the demand for effective antifungal therapies is likely to rise. Additionally, economic growth in these regions may result in a greater focus on public health initiatives, further driving market demand. The combination of rising incomes and increased healthcare access suggests a favorable environment for market growth in the coming years.

The Global Antifungal Treatment Market Industry is significantly impacted by the rise in immunocompromised populations, including individuals with HIV/AIDS, cancer patients, and organ transplant recipients. These groups are at a higher risk for severe fungal infections, necessitating effective antifungal treatments. As healthcare providers focus on managing these vulnerable populations, the demand for antifungal medications is expected to increase. This trend is particularly evident in regions with high rates of immunocompromised individuals, where healthcare systems are adapting to address these challenges. The market's growth trajectory appears promising as it aligns with the needs of these populations.

The Global Antifungal Treatment Market Industry is experiencing growth due to the increasing prevalence of fungal infections worldwide. Factors such as climate change, urbanization, and immunocompromised populations contribute to this rise. For instance, the World Health Organization indicates that fungal infections affect millions globally, particularly in developing regions. This surge in infections necessitates effective antifungal treatments, thereby driving market demand. As the industry adapts to these challenges, the market is projected to reach 16.9 USD Billion in 2024, reflecting a growing need for innovative therapies and preventive measures.

Innovations in antifungal drug development are significantly influencing the Global Antifungal Treatment Market Industry. The emergence of novel antifungal agents, including echinocandins and triazoles, has expanded treatment options for various fungal infections. These advancements not only enhance efficacy but also aim to reduce side effects, improving patient compliance. Regulatory bodies are increasingly approving new formulations, which may contribute to market growth. As the industry evolves, it is anticipated that the market will continue to expand, with projections indicating a value of 19.6 USD Billion by 2035, driven by ongoing research and development efforts.

By region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America accounted for the largest market share of over 40% in 2022 is owing to various factors and one of them is increasing number of people with fungal infections. Moreover, market players are forming strategies to distribute and sell antifungal medicine in the US. For instance, in March 2023, GlaxoSmithKline PLC (UK) entered into an agreement with Scynexis, Inc. (US) to commercialize and develop Brexafemme (ibrexafungerp), a first-in-class medicine to treat antifungal in the US.

Further, the major countries studied are: The US, Canada, Germany, France, the UK, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil.

FIGURE 3: ANTIFUNGAL TREATMENT MARKET, BY REGION, 2023 & 2032 (USD MILLION)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

The Europe anti-fungal infection market growth is driven by majorly invasive fungal infections, which have been dramatically increasing since the last decade in the European countries. Moreover, patients with hematologic malignancies and hematopoietic cell transplant recipients (HCT) are found to get invasive fungal infections in the European population. 

Furthermore, as per the Eurosurveillance, an increasing number of cases of Candida auris have been reported in 2021 and 2022 in countries such as France, Germany, Greece, Italy, the Netherlands, Spain, Belgium, and Austria. Furthermore, the Germany antifungal treatment market held the largest market share in 2022 and UK antifungal treatment market is the fastest growing market in the Europe region.

The Asia-Pacific anti-fungal treatment market is the fastest-growing region during the forecast period owing to increasing fungal infection cases in Asian countries. In 2020, the Global Action for Fungal Infections (GAFFI) and Fudan University (Shanghai) estimated that one million people suffer from invasive aspergillosis in China each year. The populations at risk of invasive aspergillosis are those with lung cancer, chronic obstructive pulmonary diseases , pulmonary tuberculosis, acute myelogenous leukemia, and the late stage of the human immunodeficiency virus. 

Additionally, fungal infections are more common in tuberculosis patients, thus increasing the incidence of tuberculosis diseases (TB), which is driving the region’s growth. As per the World Health Organization (WHO) Global TB Report 2022, in India, 210 per 1,000,000 people were diagnosed with TB in 2021. Moreover, China antifungal treatment market held the largest market share in 2022 and India antifungal treatment market is the fastest growing market in the Asia-Pacific region.

The anti-fungal treatment market is distinguished by the presence of numerous, local players catering to medical devices that are evolving at a rapid pace. The increasing incidents of fungal infections, increasing prevalence of immunological diseases in the anti-fungal treatment, and the availability of wide range of products are further expected to drive the growth of the anti-fungal treatment market during the forecast period. However, the side-effects of treatment may hamper the growth of the anti-fungal treatment market.

The major players have adopted a strategy of obtaining regulatory approval from government agencies for their drugs and signing contracts and agreements to broaden their reach and reduce operational costs. Moreover, the anti-fungal treatment market is extremely competitive, with players competing, partnering, and investing heavily in R&D to gain a significant market share. The market is moderately fragmented with rising competition, product launches, increasing collaborative partnerships, and other strategic decisions to achieve operational efficiency.

Pfizer, Inc. (US) manufactures and develops vaccines and medicines for a wide range of medical disciplines that include oncology, cardiology, immunology, diabetology/endocrinology, and neurology. Pfizer also collaborates with healthcare providers, governments, and local communities to support and broaden access to high-quality, reasonably priced healthcare globally. Pfizer distributes its goods through distributors, retailers, hospitals, clinics, public institutions, and pharmacies. The company has R&D platforms in the field of biosimilars, gene therapy, precision medicines, and medicinal sciences. 

Furthermore, the company supplies its products in North America, South America, Asia-Pacific, Australia, Europe, Africa, and the Middle East. Moreover, in April 2021, the company acquired the biotech firm Amplyx Pharmaceuticals (US) to add more anti-infective drugs to its pipeline and develop antifungal medications. The company's main component, fosmanogepix, is an inventive investigational antifungal that is being created to treat invasive fungal infections.