by Candidiasis, commonly known as thrush, is a fungal infection caused by any type of Candida (a yeast). It can infect the mouth, throat, esophagus (food pipe), intestines, vagina, or other areas of the body. This infection is commonly seen in people with a weakened immune system, such as individuals suffering from HIV/AIDS, undergoing cancer chemotherapy, or those taking antibiotics or corticosteroids. Candidiasis infections vary in severity from superficial, easily treated infections of the mouth and throat to life-threatening bloodstream and organ infections. Oral medications such as antifungal drugs and creams are commonly prescribed by doctors to control and prevent the spread of candidiasis infections. Growing awareness regarding prevention of opportunistic infections among immunocompromised patients and rise in chronic diseases like diabetes propelling the risk of candidiasis infections is expected to drive the growth of the global candidiasis market.
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 Dynamics:
One of the primary drivers fueling the growth of the candidiasis market is the rising prevalence of opportunistic infections among immunocompromised patients undergoing various treatments such as cancer chemotherapy, organ transplant, and long-term usage of antibiotics and corticosteroids. According to the report, over 1.6 million new cancer cases are anticipated to occur in 2022 and this number is expected to rise further in the coming years. Also, high success rates of organ transplantation have led to expansion of the immunocompromised population. These factors are increasing the risk of acquiring yeast infections like candidiasis, thereby augmenting the demand for effective treatment and prevention measures worldwide.
Additionally, the growing awareness programs conducted by public as well as private institutions have shed light on the importance of regularly screening individuals at high-risk of developing candidiasis infection to enable early diagnosis and management. This awareness regarding preventive healthcare is boosting the adoption of over-the-counter antifungal drugs as a precautionary measure in high-risk groups like diabetic patients, further propelling revenue growth of the candidiasis market.
Segment Analysis
The global candidiasis market is segmented based on therapy into antifungals, antifungal vaccines, and others. Among these, the antifungal segment dominates the market and is expected to continue its dominance during the forecast period due to increasing prevalence of fungal infections and rising cases of drug resistance. Within antifungals, azolesantifungals sub-segment holds the largest market share due to their broad-spectrum antifungal activity and high effectiveness against candida species.
PEST Analysis
Political: Government regulations pertaining to drug approvals and manufacturing standards are expected to impact the candidiasis market.
Economic: Rising healthcare expenditure in developing countries and growing awareness about fungal infections are expected to drive market growth.
Social: Increasing old age population susceptible to opportunistic infections and growing number of HIV/AIDS and cancer patients are fueling the social factors.
Technological: Advancements in diagnosis and treatment methods such as newer drug formulations, combination therapies, and vaccination are influencing the technological landscape in a positive way. Introduction of novel drug delivery systems and vaccines are also aids technological growth.
Key Takeaways
The Global Candidiasis Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising prevalence of risk factors. Geographically, the North America region dominates the candidiasis market and is expected to continue its lead position during the forecast period owing to growing cases of superficial and invasive candidiasis infections.
Regional analysis: The Asia Pacific region is anticipated to witness fastest growth in the candidiasis market during the forecast period. Presence of large patient pool, rising healthcare infrastructure, and growing awareness about fungal diseases are some factors contributing to candidiasis market growth in the Asia Pacific region.
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. Basilea Pharmaceutica Ltd and Pfizer Inc collectively hold over half of the revenue share in the global candidiasis market due to their diverse product portfolio and strong regional presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
