The global Candidiasis Market is estimated to be valued at US$ 984.80 Mn or Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Candidiasis market involves treatment of infections caused by various species of yeast called Candida. These infections are superficial infections of the skin, mouth, throat, and vagina or life-threatening systemic infections of the bloodstream, heart, lungs, liver, eyes, and other tissues.
Market key trends:
One of the key trends in the Candidiasis market is increasing research and development for new antifungal drugs. Currently, available antifungal medications have limitations such as drug resistance, drug-drug interactions, and adverse effects. This has led to an increased focus on R&D of new drug classes and molecules with improved therapeutic efficacy and safety profiles. Many biopharmaceutical companies are conducting clinical trials for novel antifungal therapies targeting specific virulence factors or mechanisms of drug resistance in Candida species. If successful, these new drug candidates can help overcome the challenges with existing antifungal treatments and drive the future growth of the Candidiasis market.
Market key trends:
The global candidiasis market is experiencing transformation due to the growing prevalence of diabetes. An estimated 422 million people globally have diabetes and developed countries have more people with diabetes than any other country. Diabetes increases the risk of candidiasis as it raises the blood sugar levels and lowers the body's ability to fight infections. Thus, rising diabetes rates fuel the risk of fungal infection, driving the growth of the candidiasis market. Furthermore, increasing use of immunosuppressive therapies for cancer, autoimmune disorders treatment also raises susceptibility to candidiasis.
SWOT Analysis
Strength: Presence of major players with wide product portfolio and strong geographic presence. Weakness: Limited preventive measures and vaccines for candidiasis. Opportunity: Growing medical tourism in developing nations. Threats: High cost of newer antifungal drugs and potential side-effects of long-term azole therapy.
Key Takeaways
The Global Candidiasis Market Demand was valued at US$ 984.80 Mn in 2023 and is expected to reach over US$ 1,286 Mn by 2030, expanding at a CAGR of 3.2% during the forecast period. North America dominated the global candidiasis marketin 2023 due to rising awareness about candidiasis and favorable reimbursement policies in the region.
Regional analysis
The candidiasis market in Asia Pacific is predicted to witness the fastest growth over the forecast period majorly driven by rising cases of diabetes due to changing lifestyles and growing medical tourism industry in the region.
Key players
The global candidiasis market is consolidated with major players like Bayer, Teva Pharmaceuticals, Stellar Pharma, Pfizer, Wockhardt, Ranbaxy, Bristol Laboratories, Glenmark Pharmaceuticals, Taro Pharmaceuticals operating worldwide.
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