February 25, 2024

Candidiasis Market Is Expected To Be Flourished By Growing Adoption Of Combination Therapies

Candidiasis, also known as thrush or Moniliasis, is a type of fungal infection that is caused by the yeast called Candida. Some risk factors of candidiasis include the usage of antibiotics, pregnancy, diabetes, or conditions that affect the immune system. Candida infections are commonly seen in the mouth, throat, skin, and genitals. With the rising prevalence of chronic diseases globally, the cases of candidiasis are also surging across both developed and developing countries. Additionally, there is a growing preference for combination therapy drugs to treat candidiasis infections owing to their improved efficacy.

The global Candidiasis Market is estimated to be valued at US$ 1134.49 Bn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
One of the key drivers propelling the growth of the candidiasis market is the growing adoption of combination therapies to treat candidiasis infections. Combination drugs exhibit better efficacy by acting on multiple targets simultaneously and minimizing the risk of drug resistance development in fungi. Some of the popular combination therapies available in the market are amphotericin B combined with flucytosine, azoles combined with echinocandins, and azoles combined with polyenes. Additionally, the rising prevalence of chronic diseases like diabetes which impair the immune system is also fueling the cases of opportunistic candidiasis infections worldwide, thereby driving the demand for candidiasis drugs over the forecast period.

Segment Analysis
The Global Candidiasis Market Size is dominated by the hospital pharmacy segment and the increasing number of patients being treated in hospitals. The hospital pharmacy segment accounted for over 50% of the market share in 2024 due to the large volume of patients being treated at hospitals for various candidiasis infections. Clinics are also emerging as an important end-user segment for candidiasis treatment drugs.

PEST Analysis
Political: The governments across major countries are focusing on improving access to antifungal drugs for treating various fungal infections such as candidiasis through favorable reimbursement policies.
Economic: Rising healthcare expenditure globally is positively impacting the growth of the candidiasis market. The growing middle-class population with higher disposable income is also leading to an increase in treatments and diagnosis rates.
Social: Increasing awareness about various fungal infections and their treatment options is driving more patients to seek professional medical help for candidiasis.
Technological: Continuous research and development activities are leading to innovative diagnostic techniques and newer drug formulations with improved efficacy and safety profiles for Candidiasis treatment.

Key Takeaways
The global candidiasis market is expected to witness high growth at a CAGR of 8.8% during the forecast period of 2024 to 2031. The market size is projected to reach US$ 2191.1 Bn by 2031 from US$ 1134.49 Bn in 2024.

Regional analysis: North America accounted for the largest market share of over 40% in 2024 owing to the growing prevalence of fungal infections and availability of advanced healthcare facilities in the region. However, Asia Pacific region is anticipated to witness the fastest growth over the forecast period supported by the rising medical tourism industry and improving access to treatment.

Key players: The 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. Key players are focused on developing novel antifungal drugs through sustained R&D investments and patent pipeline to consolidate their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it