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The Candidiasis Market is estimated to be valued at US$ 984.80 Mn or 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.
Market Overview:
Candidiasis, also known as thrush, is a fungal infection caused by any type of Candida (a yeast fungus). Candida albicans is the most common type that causes infections in humans. Candidiasis results in white creamy lesions in the mouth, throat, genitals or other moist areas of skin. It can be treated by antifungal medicines available in various dosage forms like tablets, lozenges, creams and injections. Advances in diagnostic techniques help detect candidiasis early and effectively guide treatment decisions.
Market Dynamics:
One of the major growth drivers in the Candidiasis Market is the rising incidence of risk factors associated with candidiasis infections. Conditions like diabetes, HIV/AIDS, dentures wearing, antibiotics use and immunosuppression increase susceptibility to Candida overgrowth. According to WHO, there were around 38 million people living with HIV globally in 2019. Furthermore, the CDC estimates that over 30 million Americans have diabetes. Secondly, ongoing research and development has led to the availability of improved diagnostics and targeted therapies for candidiasis. This allows for early intervention and more effective management of infections. Recent developments in molecular diagnostics enable identification of causative Candida species, which is important for guiding appropriate antifungal treatment.
Segment Analysis
The Candidiasis market is dominated by the drugs sub segment. Antifungal drugs account for over 80% of the market share due to high prevalence of Candida infections globally. Oral thrush, also known as oral candidiasis, is the most common type of Candida infection that affects the mouth and tongue. It is caused by an overgrowth of the Candida fungus. The antifungal drugs sub segment deals with a wide range of prescription and over-the-counter topical and oral drugs used to treat oral and genital candidiasis.
PEST Analysis
Political: The regulations around drug discovery, development and marketing approvals influence the Candidiasis market. Various regulatory bodies like the FDA regulate the entire life cycle of a drug.
Economic: Emerging economies provide significant growth opportunities owing to rising healthcare spending. However, pricing pressure and compulsions to use cheaper generics impacts margins.
Social: Rising lifestyle diseases and changing demographics lead to high prevalence of fungal infections. Poor hygiene and sanitation in developing nations also contribute to the disease burden.
Technological: Advancements in drug delivery systems aid better targeting and effectivity. Novel drug formulations help improve patient compliance for antifungal treatments.
Read More @ https://www.coherentmarketinsights.com/market-insight/candidiasis-market-229
Key Takeaways
The global Candidiasis market is expected to witness high growth, exhibiting CAGR of 3.2% over the forecast period, due to increasing prevalence of opportunistic invasive fungal infections. The market size for 2023 is estimated to be US$ 984.80 Mn.
North America holds the largest share of the global Candidiasis market due to advanced healthcare settings and higher spending on antifungal drugs. The United States contributes significantly owing to a large patient pool being treated annually.
Europe is the second largest regional market supported by growing Candida resistance and aging population susceptible to candidiasis. Asia Pacific is expected to witness the highest growth rate during the forecast period with China and India emerging as high potential markets.
Key players operating in the Candidiasis market are Bayer, Teva Pharmaceuticals, Stellar Pharma, Pfizer, Wockhardt, Ranbaxy, Bristol Laboratories, Glenmark Pharmaceuticals, Taro Pharmaceuticals and Perrigo among many other local players. The market is highly consolidated with top four players holding over 50% share. New entrants focus on novel formulations to gain market share.
