by Candidiasis, commonly known as thrush, is a fungal infection caused by any type of Candida, including Candida albicans, Candidaglabrata, Candidatropicalis, and Candida krusei. Candidiasis can cause infections of the mouth, throat, esophagus, and the vagina. If left untreated, candidiasis can spread to other parts of the body. The increasing prevalence of fungal infections worldwide is primarily attributed to factors such as rising antibiotic usage, growing number of AIDS patients, increasing aging population, and lack of hygiene.
The global Candidiasis Market is estimated to be valued at US$ 984.8 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:
The candidiasis market growth is majorly driven by the increasing fungal infections worldwide. According to the Centers for Disease Control and Prevention (CDC), candidiasis is associated with 85–90% of all vaginal infections in women. Moreover, around 25% of all women experience recurrent cases of vaginal yeast infections during their lifetime. Other key factors fueling the market growth include rising healthcare expenditures, growing geriatric population prone to opportunistic infections, innovations and advancements in antifungal drugs, and increasing awareness regarding fungal infections. The market players are focused on developing novel therapeutic drugs with improved safety and efficiency for the treatment of candidiasis. For instance, in August 2020, SCYNEXIS, Inc. announced positive topline results from its ongoing Phase 3 VANISH-303 trial, which is evaluating oral ibrexafungerp for the treatment of vulvovaginal candidiasis.
SWOT Analysis
Strength: The Candidiasis market is driven by the increasing prevalence of opportunistic fungal infections. According to WHO, Candidiasis affects 75% of women at some point in their lives.
Weakness: Low awareness regarding symptoms of Candidiasis infection in developing countries hampers accurate diagnosis and treatment-seeking. Lack of rapid low-cost diagnostic tests also poses challenge.
Opportunity: Growing research and development activities for development of new antifungal drugs and diagnostics offer lucrative growth opportunities.
Threats: Threat from alternative treatment options and emergence of antifungal resistance poses challenge.
Key Takeaways
The Global Candidiasis Market Size is expected to witness high growth at an estimated CAGR of 8.8% during the forecast period of 2023-2030.
Regional analysis: North America dominated the market in 2024 with a share of over 35% due to increasing awareness and availability of advanced treatment. Europe and Asia Pacific are also major regional markets and are projected to witness growth at CAGRs above 8% during the forecast period.
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 focusing on development of new drugs and diagnostics to expand their product portfolios. For instance, in 2022, Pfizer launched its antifungal drug called Tavaborole topical solution 5% for the treatment of onychomycosis of the toenails.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
