It is observed that over the past two decades the incidence of fungal infections has grown drastically. The cases are more frequent in cancer patients, patients with AIDS, and transplant recipients. Antimycotics are compounds that constrain the growth of fungi to facilitate the isolation of bacterial pathogens. Antimycotics are also used for determining the effectiveness of a given antimycotic against a fungal pathogen. Antimycotics focus on both topical and systemic fungal infections. Systemic antimycotics are generally used for the treatment of tinea capitis, onychomycosis, superficial and systemic candidiasis, and treatment of invasive fungal infections. Whereas, topical antimycotics are used for the treatment of superficial mycoses. Some of the fungal infections treated with antimycotic are ringworm, fungal nail infection, vaginal thrush, and others. There are also chances of the development of certain serious fungal infections deep inside the body tissues which are need to be treated in the hospitals.
Antimycotics Market: Drivers and Restraints
Increasing prevalence of an infectious disease is driving the growth of the global antimycotics market. The growing footprint of manufacturers in the Asia Pacific region coupled with the growing economic burden for fungal infections is expected to drive the demand for fungal infection treatment, thereby boosts the growth of the global antimycotics market. Furthermore, developed infrastructure and increasing funding for clinical trials are further expected to drive the growth of the global antimycotics market. However, the unhealthy lifestyle and low awareness are the factors expected to hamper the antimycotics market growth.
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Antimycotics Market: Segmentation
The global antimycotics market is segmented by formulation types, end users and region:
Based on formulation types, the global antimycotics market is segmented into:
- Systemic Antimycotics
- Oral Antimycotics
- Intravenous Antimycotics
- Intra-vaginal Antimycotics
- Topical Antimycotics
Based on End User, the global antimycotics market is segmented into:
- Diagnostic Laboratories and Centers
- Academic and Research Institutes
Antimycotics Market: Overview
The global antimycotics market is expected to grow at a moderate growth rate over the forecast period due to the significant investments to introduce new products to capitalize on the opportunities in the untapped market. Based on formulation type, the global antimycotics market is segmented into systemic and topical formulation types. Amongst them, the systemic formulation type is expected to gain more market share in the global antimycotics market over the forecast period 2028-2028. Based on the end user, the global antimycotics market is segmented into hospitals, diagnostic laboratories and centers, and academic and research institutes.
Antimycotics Market: Regional Outlook
On the basis of geography, the global antimycotics market is segmented into eight key regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding China and Japan, China, Japan, and Middle East & Africa. North America is expected to hold maximum market share in the global antimycotics market due to the growing cases of fungal infections along with increased set up of diagnostic laboratories in the region as compared to other regions. Europe is projected to hold the second highest market share in the global antimycotics market. Asia Pacific region in the antimycotics market is expected to grow at the fastest rate with the maximum growth rate over the forecast period. This is majorly due to a strong foothold of domestic players manufacturing antimycotics. However, the antimycotics market in Latin America, Eastern Europe, and the Middle East and Africa is projected to show a slow growth over the forecast period.
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Antimycotics Market: Key Players
Examples of some of the key players in the global antimycotics market are Merck KGaA, Thermo Fisher Scientific, Pfizer Inc., Novartis AG, Sanofi S.A., AstraZeneca plc, and others. Acquisition, mergers, and strategic collaborations play a vital role in the growth of antimycotics market. The established players are majorly focusing on the introduction of new products to strengthen their product portfolio in order to expand their clientele and grab maximum share in the antimycotics market.