Increasing Number of Anti-Fungal Drugs as Over-The-Counter (OTC)
With rising popularity of Over-The-Counter (OTC) drugs, many patients are preferring OTC drugs because these over the counter drugs are obtaining without a prescription from a healthcare professional. Numerous common and harmless fungal infections are left untreated by patients, owing to medical costs and logistical constraints. These have directly contributed to the rise in the usage of OTC drugs, owing to their ease of availability. According to the Consumer Healthcare Products Association, more than 81% of adults use OTC medicines as their first response to minor ailments. The increased usage of OTC drugs has further contributed to the rise in anti-fungal drug sales over the years. And the other factors such as increasing awareness among the people regarding the fungal infection, and increasing number of the immune-compromised aged population are driving the market growth.
Presence of Generics and Government Regulations in the Pharmaceutical Industry
Although there is an increase in the sales for anti-fungal generic drugs, the market value of anti-fungal drugs has decreased, as the price of generics is almost 20 to 50 % of the branded drugs. To meet the market value, the sales of generics must be increased by at least four times to that of the branded drugs. Even with the increasing volume of generic anti-fungal drug sales, the overall market value of anti-fungal drugs has reduced. The increased usage of generic anti-fungal drugs will restrain the growth of the market in the forecast period.
The pricing regulations by various governments, their strict regulatory frameworks for the approval of anti-fungal drugs, is acting as a restraining factor along with the high penetration of conventional drugs used for treatment is hindering the growth of the global anti-fungal drugs market.
North America to dominate the Market
North America dominates the market due to increasing awareness of fungal infections with the growing incidence of antifungal infections and increasing government and corporate funding in the industry. While Asia-Pacific was estimated to register the fastest CAGR through the forecast period, 2018-2023.
Key Developments in the Market
- October 2017: Gilead Sciences has Acquired the Kite Pharma, Inc.
Reasons to Purchase this Report
- Current and future anti-fungal drugs market outlook in the developed and emerging markets
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- The segment that is expected to dominate the market
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- Identify the latest developments, market shares and strategies employed by the major market players.
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Market Overview
5.3 Porter’s Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Degree of Competition
5.3.4 Threat of Substitution
5.3.5 Threat of New Entrants
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Increasing Number of Antifungal Drugs as Over-The-Counter (OTC)
6.1.2 Increasing Awareness about the Myriad Fungal Infections
6.1.3 Increasing Government and Corporate Funding
6.1.4 Rise in Number of Immune-Compromised Aged Population
6.2 Market Restraints
6.2.1 High Penetration of Conventional Drugs Used For Treatment
6.2.2 Presence of Generics and Government Regulations in Pharmaceutical Industry
6.3.1 Introduction of New Anti-Fungal Drugs
6.4.1 Increasing Resistance to Anti-Fungal Drugs
7. Market Segmentation
7.1 By Drug Type
22.214.171.124 Benzoic Acid
7.2 By Therapeutic Indication
7.3 By Geography
7.3.1 North America
126.96.36.199 Rest of Europe (RoE)
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
7.3.4 Middle East & Africa
220.127.116.11 GCC Countries
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
7.3.5 South America
126.96.36.199 Rest of South America (Rosa)
8. Competitive Landscape
8.1 Mergers & Acquisitions
8.2 Agreements, Collaborations & Partnerships
8.3 New Product Launches
9. Key Players
9.1 Abbott Laboratories
9.4 Bayer Healthcare
9.7 Merck & Co.
9.8 Kramer Laboratories
9.9 Enzon Pharmaceuticals
10. Future of the Market