The increasing prevalence of candida infections globally due to rising virulence of candida yeasts and growing immunocompromised population is expected to drive the growth of the candidiasis market.
The global Candidiasis Market is estimated to be valued at US$ 1134.49 Bn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of candida infections globally is one of the major factors fueling the growth of the candidiasis market. As per the CDC, candidiasis affects around 20-25% of women at least once during their lifetime. Risk factors such as unnecessary antibiotic use, poorly controlled diabetes, HIV/AIDS, and pregnancy increases the chances of developing candidiasis infections. Furthermore, increasing adoption of antifungal drugs such as fluconazole and voriconazole for prophylactic treatment in high-risk population is also contributing to the market growth. Recent advancements in drug discovery has led to development of several pipeline drug candidates which are expected to receive regulatory approvals and launch in the market during the forecast period, thereby propelling the candidiasis market growth.
Segment Analysis
The Global Candidiasis Market Demand is dominated by the treatment segment. Treatment is further segmented into drug class and route of administration. Among these, the antifungals sub-segment dominates the market due to high prevalence of fungal infections. Moreover, antibiotics being the first line of treatment for candidiasis boosts the growth of this sub-segment.
Key Takeaways
The global candidiasis market is expected to witness high growth over the forecast period. The global Candidiasis Market is estimated to be valued at US$ 1134.49 Bn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2031.
Regional analysis shows that North America region currently dominates the market due to increase in number of HIV patients, presence of developed healthcare infrastructure. Europe is the second fastest growing region owing to rising cases of invasive candidiasis.
Key players operating in the candidiasis market are Basilea Pharmaceutica Ltd, Astellas Pharma Inc., SCYNEXIS, Inc., NovaDigm Therapeutics, Mycovia Pharmaceuticals, Inc., Pfizer Inc, and Viatris Inc., among others. Basilea Pharmaceutica Ltd's antifungal drug Cresemba (isavuconazole) has emerged as a key treatment option for various types of fungal infections including candidiasis. Astellas Pharma's antifungal drug Mycamine (micafungin sodium) is also gaining popularity for treatment of candida infections.
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