The global Candidiasis Market is estimated to be valued at US$ 984.80 Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Candidiasis causes fungal infection in the mouth (oral thrush), esophagus(esophageal candidiasis), other parts of the digestive system or the female reproductive tract (vaginal yeast infection or vulvovaginal candidiasis). Drug delivery systems like intravenous injections, topical creams, and oral capsules/tablets are available for the treatment of candidiasis infections.
Market key trends:
One of the key trends in the candidiasis market is growing preference for advanced drug delivery systems over conventional therapies. Novel drug delivery systems allow targeted delivery of antifungal drugs at the site of infection and help in improving efficacy while reducing side effects associated with systemic therapies. For example, lipid-based nano-formulations encapsulating antifungal drugs enable passive targeting to infectious sites and sustained release of drugs. This enhances antifungal activity and lowers toxicity.
Strength: Candidiasis market has high prevalence of opportunistic fungal infection such as candidiasis which drives the market growth. Advancement in diagnosis and treatment options also supports the market.
Weakness: Lack of awareness in developing nations regarding symptoms and management of candidiasis poses a challenge.
Opportunity: Innovation of novel antifungal drugs and treatments provides lucrative opportunities. Growing aging population susceptible to fungal infections further expands market opportunities.
Threats: Stringent regulatory approvals and high costs associated with R&D are major threats. Patent expiries of blockbuster drugs also pose threats.
The Global Candidiasis Market Size is expected to witness high growth, exhibiting CAGR of 3.2% over the forecast period, due to increasing prevalence of chronic diseases and opportunistic fungal infections. According to market estimations, the size of global Candidiasis market was valued at US$ 984.80 Mn in 2023.
North America is expected to dominate the global Candidiasis market during the forecast period. High awareness about fungal infections and presence of major market players drive the North America market. Asia Pacific market is anticipated to exhibit fastest growth rate owing to improving healthcare infrastructure and increasing healthcare spending.
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. Major players are focused on gaining approvals for novel antifungal drugs and expanding their product portfolio through partnerships and mergers.