As per the report published, the Antifungal Drugs Market size in North America is estimated at USD 5.15 billion in 2021. It is further projected to be growing at a CAGR of 3.7% and worth USD 6.18 billion by 2026. In the following years, the market is poised to grow significantly with the rising global population.
Antifungal drugs are commonly used to cure fungal infections due to unclean, unhygienic, and damp environments. Invasion of epithelial tissue by microscopic organisms leads to fungal infections. Systemic fungal infections are caused due to indigestion or inhalation of spores, leading to fungal pneumonia, and diseases like candidiasis, meningitis, mucormycosis, etc., are caused by opportunistic fungus. Although the majority of fungal infections and diseases are commonly non-lethal, they are very uncomfortable to the host, and their common occurrence is responsible for the rising antifungal drugs market. Antifungal drugs work via various mechanisms such as inhibiting cell wall formation, cell membrane disruption, and cell division.
The North American Antifungal drugs market is expected to be driven by the proliferation of contagious diseases, the rising number of fungal infectious diseases such as miconazole and terbinafine. Also, the increased health concerns and expanding government and non-government support for antifungal disorders are expected to drive the market growth rate throughout the forecast period.
In many parts of North America, fungal infections are viewed as a major public health concern.
Further, the adoption of technological advancement in the production of various pharmaceuticals and delivering effective treatment techniques for various infectious diseases around the region is expected to fuel the growth of North America antifungal drugs market.
On the other hand, the market is also likely to be aided by increased investment in research & development institutes.
Increased cancer rates, a surge in hematopoietic stem cell transplantation, and other immune system-related factors are all driving the growth of the North American antifungal drugs market.
Furthermore, during the forecast period, the North American Action Fund for Fungal Diseases, which was founded in 2013 and focused on public health advocacy for patients with fungal diseases, is predicted to fuel the market. Due to the significant frequency of fungal illnesses and the issues connected with their treatment, players are investing in R&D efforts with good results. As a result, new antifungal drugs are being created to improve results, which assists the growth of the North America antifungal drugs market.
However, the concerned associated long-term side effects with the usage of these drugs hamper the market growth. In addition, antifungal drug demand is also being slowed by variations in the rate of pharmaceutical manufacture.
In addition, the scarcity of qualified personnel in the pharmaceutical manufacturing industries, which is the key restraint in the North America antifungal drugs market.
However, the economy slows down, with the pandemic being the primary cause of improper government funds to cure these fungal viral infectious. Furthermore, the government's stringent rules and regulations for approving new drugs are the major challenging factor.
This research report on the North American Antifungal Drugs Market has been segmented and sub-segmented into the following categories:
By Drug Type:
By Therapeutic Indications:
The United States
Rest of North America
The North American antifungal drugs market is estimated to account for the majority of the market share region throughout the forecast period, owing to the rapid adoption of new technologies. The market for antifungal drugs in North America is expected to increase at a CAGR of 3.7%. North America is estimated at USD 5.15 billion in 2021. It is further projected to be growing and worth USD 6.18 billion by 2026. According to the Consumer Healthcare Products Association, over 81 percent of Americans use over-the-counter medications as their first line of defense against minor illnesses. Antifungal drug sales have risen in tandem with the increased usage of over-the-counter treatments. The United States and Canada are the two most important countries in dealing with the antifungal drug companies and providing improved infrastructure for the North American region.
However, the United States dominates the North America antifungal drugs market, and it is likely to continue its growth throughout the forecast period. The market growth is attributed to the greater awareness of fungal infections, antifungal ailments, and increased government and corporate organizations. In addition, the development of a variety of high-quality, low-cost medications is accelerating the market growth rate.
On the other hand, the Canadian Antifungal market is expected to grow promisingly during the forecast period. Increased investment in research and development institutes, an increase in the number of immune-compromised older people, and increasing health concerns are propelling the growth of the North America antifungal drugs market.
Some of the major companies dominating the North American Antifungal drugs market are Alternaria, Pfizer, Novartis, Sanofi-Aventis, Merck & Co., Aspergillus, Kramer Laboratories, Bayer Healthcare, Enzon Pharmaceuticals, Glaxosmithkline Gilead, and Abbott Laboratories.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Drug Type
5.2 By Therapeutic Indications
5.3 By Application
6. Geographical Analysis
6.2 United States
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.5 Merck & Co.
8.7 Kramer Laboratories
8.8 Bayer Healthcare
8.9 Enzon Pharmaceuticals
8.10 Glaxosmithkline Gilead
8.11 Abbott Laboratories
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
a) List of Tables
b) List of Figures
Regional, and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and also identify the regions that are still untapped
The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis, and analyst overview to study and sustain the market environment
Competitive landscape analysis lists out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies, and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market