Candidiasis commonly known as thrush is a fungal infection caused by yeasts that belongs to the Candida genus. It can infect the skin, mouth, throat, esophagus, or genital area. candidiasis infections pose a significant economic burden on healthcare systems worldwide owing to the high costs associated with treatment of recurrent infections. Candidiasis treatment market comprises antifungal drugs such as azoles, echinocandins, and polyenes which help cure infections faster with lower chances of recurrence.
The global Candidiasis Market is estimated to be valued at US$ 984.8 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of associated risk factors such as diabetes, use of antibiotics, and immunosuppressive conditions are expected to drive the growth of Candidiasis Market size during the forecast period. According to the Centers for Disease Control and Prevention (CDC), candidiasis infections affect around 75% of women at least once during their lifetime. Likewise, a National Institutes of Health report estimated over 200,000 cases of candidemia in the United States each year. The increasing incidence of recurrent and drug-resistant infections is prompting pharmaceutical companies to invest in R&D and clinical trials of novel antifungal therapies. This focus on developing innovative treatment options is anticipated to open new growth avenues for players in the Candidiasis Market in the coming years.
Segment Analysis
The global candidiasis market is segmented based on infection type, treatment type, route of administration, and distribution channel. By infection type, the market is divided into vulvovaginal candidiasis, oropharyngeal candidiasis, invasive candidiasis, cutaneous candidiasis, and others. The vulvovaginal candidiasis segment currently dominates the market due to the high prevalence of vulvovaginal fungal infections among women. Based on treatment type, the market is bifurcated into antifungal drugs and antifungal medical devices. The antifungal drugs segment dominates as drugs are the first line treatment for most candidiasis types.
Key Takeaways
The global Candidiasis Market is estimated to be valued at US$ 984.8 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030.
Regional analysis: North America is expected to hold the largest share of the global candidiasis market during the forecast period. This is attributed to factors such as the rising prevalence of fungal infections, growing awareness regarding diagnosis and treatment of fungal infections, and advancements in antifungal drugs in the region. Europe is anticipated to witness the fastest growth due to increasing healthcare expenditure and high diagnosis and treatment rates in countries like Germany, UK, and France.
Key players: 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. Basilea Pharmaceutica Ltd and Pfizer Inc currently hold the largest market shares due to their diverse product portfolios for antifungal treatment. SCYNEXIS, Inc. and NovaDigm Therapeutics are developing novel drug candidates to address the unmet needs in invasive fungal infections.
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