by Candidiasis, also known as thrush, is a fungal infection caused by any type of Candida (a yeast). Candida infections can cause irritation of the mouth (oral thrush), esophagus (esophagitis), intestines (intestinal thrush), or the genital area (yeast infection or genital thrush). Products used for the treatment of candidiasis include antifungal medications such as fluconazole, itraconazole, nystatin, voriconazole. These drugs are available in various drug delivery forms like oral tablets, suspension, topical creams and lozenges to effectively treat infections affecting various parts of the body. With increasing prevalence of chronic diseases like diabetes, HIV/AIDS, and cancers which predispose individuals to candidiasis infections, the demand for effective antifungal agents is growing significantly.
The global Candidiasis Market is estimated to be valued at US$ 984.8 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the key trends gaining traction in the candidiasis market size is the growing adoption of combination therapy. Combination therapy involves the use of two or more antifungal drugs with different mechanisms of action. Combining antifungals helps combat drug resistance and improves treatment outcomes for invasive and refractory candidiasis infections. Some of the commonly used drug combinations in clinical practice include fluconazole plus flucytosine and an echinocandin (caspofungin, micafungin or anidulafungin) plus fluconazole or voriconazole. Owing to the benefits of combination therapy, many new drug combinations are being evaluated which is expected to boost the candidiasis market during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants to the candidiasis market is medium as high capital requirements are needed for R&D, branding and compliance.
Bargaining power of buyers: The bargaining power of buyers in the candidiasis market is medium as buyers have multiple treatment options but demand is highly inelastic.
Bargaining power of suppliers: The bargaining power of suppliers in the candidiasis market is low as there are many suppliers for raw materials and production with low switching costs.
Threat of new substitutes: The threat of new substitutes for candidiasis treatment is low as limited alternatives are available though new treatment types are being explored.
Competitive rivalry: The competitive rivalry in the candidiasis market is high due to a large number of players offering generic drugs for treatment.
Key Takeaways
The global candidiasis market is expected to witness high growth over the forecast period. The global Candidiasis Market is estimated to be valued at US$ 984.8 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030.
Regional analysis comprises: North America will account for around 45% of the total candidiasis market share by 2030 supported by growing healthcare spending, research and development investments, and increasing awareness about candidiasis and its treatment options in the region. Additionally, rising prevalence of HIV and diabetes in Latin America and Asia Pacific is also expected to drive the market in these regions during the forecast period.
Key players related content comprises: 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. There is high competition between these players for developing newer drugs and expanding geographically.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
