April 20, 2024
Candidiasis Market

The Global Candidiasis Market is Estimated to Witness High Growth Owing to Increasing Prevalence of Candida Infections

The global candidiasis market covers therapeutic drugs for treating infections caused by yeast-like fungi of the genus Candida. Candida commonly infects the mouth, throat, esophagus, intestines, and vagina. Treatment involves antifungal drugs such as azoles, echinocandins, and polyenes. Candidiasis is one of the most common opportunistic fungal infections, primarily affecting individuals with compromised immunity. The increasing prevalence of candida infections, especially among critically ill and hospitalized patients, is a key driver of market growth.

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.

Key Takeaways

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. These players are increasingly focusing on developing innovative therapeutic drugs with novel mechanisms of action to address the unmet need.

The rising Candida auris fungal infections globally pose significant opportunities in the Candidiasis Market Growth. C. auris is considered a serious global health threat as it can spread rapidly in healthcare settings. Development of antifungal drugs targeting C. auris is expected to garner attention.

North America dominated the global market in 2024 due to high disease prevalence and growing Candida infections. However, Asia Pacific is anticipated to witness the fastest growth during the forecast period owing to expanding healthcare infrastructure and improving access to diagnosis and treatment in developing countries.

Market Drivers

The increasing prevalence of candida infections globally is a major market driver. According to the Centers for Disease Control and Prevention (CDC), candidiasis is the fourth most common hospital-acquired infection in the United States. Rapidly aging population and rising cases of chronic illnesses increasing the risk of opportunistic infections further drive market growth.

PEST Analysis

Political: The regulatory approvals required for new product launches will affect the candidiasis market. Regulations aim to ensure patient safety and quality of treatment options.

Economic: Factors like the rise in healthcare spending in many countries and increasing per capita incomes will boost the candidiasis market growth. However, high treatment costs can restrain market expansion.

Social: As lifestyle changes lead to shifting dietary patterns and more stress, social factors contribute to higher candida infections globally. Growing health awareness boosts demand for effective treatment and management options.

Technological: Advancements in drug delivery mechanisms, active pharmaceutical ingredients, and diagnostic techniques aid in developing more targeted and effective anti-fungal drugs with lesser side-effects. Research also focuses on developing combination therapies.

In terms of value, North America holds the largest share of the candidiasis market currently due to favorable reimbursement policies, well-developed healthcare infrastructure, and rising incidences of opportunistic infections. Europe follows North America closely due to similar factors and growth in medical tourism from other regions.

The Asia Pacific region is poised to be the fastest-growing market for candidiasis globally over the forecast period. This can be attributed to factors like rising healthcare spending, growing public health awareness, and an increasing elderly population more susceptible to infections. Expansion of healthcare facilities and improving access to diagnosis and treatment in densely populated Asian countries are aiding market growth.

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