The candidiasis market is estimated to be valued at US$ 984.80 Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Candidiasis, also known as thrush or yeast infection, is a fungal infection caused by yeast-like fungi of the genus Candida. The most common symptom is white colored patches that develop in the mouth or throat. Candidiasis can also affect other parts of the body including the esophagus, lungs and bloodstream. For vaginal candidiasis, symptoms include itching, burning, and thick white discharge. Cream and ointment antifungal drugs are commonly used to treat candidiasis infections of the skin, mouth, and vagina. Oral medications are prescribed for severe infections and recurrent cases.
Market Dynamics:
The growth of the candidiasis market is majorly driven by the rising prevalence of candidiasis infections globally. According to statistical reports, almost 75% of all women experience at least one episode of vulvovaginal candidiasis in their lifetime. In addition, increasing cases of opportunistic fungal infections due to rise in HIV/AIDS cases, diabetes, and cancer treatments that weaken the immune system is also fueling market growth. Furthermore, growing number of initiatives from public and private organizations to spread awareness regarding various fungal infections is creating high demand for diagnosis and treatment options. However, development of drug resistance to available antifungal drugs is a major challenge for players operating in the candidiasis market.
SWOT Analysis
Strength: The Candida fungus is present in many humans normally without causing infections. This means developed therapeutics faces less issues regarding chronic infection. The market has experienced strong R&D investments from key players to develop novel therapeutics. Existing drugs have proven efficacy and safety profiles against various candida infections.
Weakness: Diagnosis of Candidiasis remains a challenge as symptoms are similar to other conditions. Differential diagnosis is required to confirm the candida etiology. Existing antifungal drugs have limitations such as drug interactions, side effects, and development of resistance over time.
Opportunity: Rising incidence of hospital-acquired infections and invasive candidiasis worldwide drives the need for improved treatment options. The increasing diabetic and HIV affected population are high-risk groups for Candidiasis. Successful research on novel drug classes and mechanisms of action can lead to next-gen therapies.
Threats: Generic competition threatens the sales of major antifungal drugs going off patent. Developing novel therapeutics requires high R&D investments with uncertain success rate. Environmental changes can impact the epidemiology and virulence of Candida strains challenging therapeutic efficacy over time.
Key Takeaways:
The Global Candidiasis Market Size is expected to witness high growth, exhibiting CAGR of 3.2% over the forecast period, due to increasing prevalence of invasive fungal infections among high-risk groups. North America currently dominates the market attributed to developed healthcare infrastructure and increasing healthcare spending in the region.
Regional analysis:
North America leads the Candidiasis market accounting over 35% market share in 2023 due to supportive insurance and reimbursement policies fostering new therapeutics adoption. Asia Pacific exhibits the fastest growth owing to rising medical tourism, improving healthcare infrastructure and growing diabetic population in major Asian countries.
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., among others. Major players focus on developing novel antifungal compounds to overcome resistance and safety issues associated with existing antifungals.
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