The global candidiasis market is primarily driven by the rising prevalence of opportunistic fungal infections due to growing elderly population, rising cases of HIV/AIDS, the increasing use of immunosuppressive therapies, and growing number of surgical procedures. Candidiasis, also known as candida infection, is a fungal infection caused by any type of Candida yeast, usually Candida albicans. It can affect the mouth, throat, esophagus, and genitals. Candida also commonly causes infections of the nails, skin, and mucous membranes.
Key Takeaways
Key players operating in the Candidiasis Market Growth are Basilea Pharmaceutica Ltd, Astellas Pharma Inc., SCYNEXIS, Inc., NovaDigm Therapeutics, Mycovia Pharmaceuticals, Inc., Pfizer Inc, and Viatris Inc., among others. Basilea Pharmaceutica Ltd is one of the leading players in the candidiasis drug market with its approved antifungal drug Cresemba.
The prevalence of opportunistic fungal infections is increasing globally with rise in aging population, HIV/AIDS patients, and cancer patients undergoing chemotherapy. Growing incidences of diabetes mellitus and rise in immunosuppressive conditions are further driving the risk of developing a fungal infection. This growing disease burden is expected to drive the demand for antifungal drugs for candidiasis treatment over the forecast period.
The candidiasis drug market is witnessing expansion in regions with high disease prevalence and growing access to healthcare. The companies are focusing on geographic expansion and capacity increase in developing countries of Asia Pacific, Latin America, Middle East, and Africa.
Market drivers
The key driver fueling the growth of the candidiasis market is rising prevalence of opportunistic fungal infections globally. Growing elderly population above 65 years of age, increasing cancer cases undergoing chemotherapy, rise in HIV infections, and frequent usage of broad-spectrum antibiotics and corticosteroids are leading to opportunistic candidal infections. According to the Centers for Disease Control and Prevention (CDC), candidiasis affects nearly a quarter of the general population in the United States, resulting in significant healthcare burden. The high and growing prevalence of fungal infections worldwide is thus expected to drive the demand for antifungal drugs for candidiasis treatment over the forecast period.
Geopolitical tensions mount challenges for the Candidiasis market growth. The ongoing geopolitical conflicts and economic sanctions have disrupted supply chains and trade relations globally. This volatility has negatively impacted production and distribution networks for anti-fungal drugs and medical devices used to diagnose and treat Candidiasis infections. Manufacturers are facing difficulties in procuring raw materials and components from sanctioned countries. Rise in commodity prices and shipping costs due to supply chain bottlenecks have increased the overall cost of drugs and related products. Furthermore, political instability and uncertainty in various regions have weakened investor sentiments, reducing investments in R&D activities.
To sustain long-term growth, companies must develop strategies that circumvent trade barriers and identify alternative sourcing options. Collaboration with local partners can help establish manufacturing facilities in different geographic markets. This will make supply chains more resilient. Additionally, focus on novel delivery methods and developing low-cost generic drugs can increase affordability and drive adoption in emerging economies.
The Candidiasis market in Europe accounts for the largest value share currently. This is attributed to the rising prevalence of hospital-acquired infections, growing immunosuppressed patient population, and availability of advanced diagnostic tests and treatment courses. North America follows Europe with a significant market size due to high awareness and frequent diagnostic practices. Asia Pacific is poised to become the fastest growing regional market owing to its huge patient pool, improving access to healthcare facilities, and increasing healthcare expenditures. Latin America and Middle East & Africa also present lucrative prospects for market participants.
The geographical regions that will experience substantial market growth over the forecast period include India, China, Brazil, Mexico, Iran, Turkey and other Southeast Asian countries. This is because of the large untapped opportunities, growing medical tourism industry, rising income levels, expanding health insurance coverage and improving clinical standards in these emerging economies. Promoting awareness initiatives, enhancing diagnostic capabilities and introducing cost-effective treatments can help accelerate Candidiasis treatment uptake across developing Asian and Latin American regional markets.
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