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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.
Market Overview:
Candidiasis refers to infections caused by yeasts of the genus Candida, such as C. albicans. The infections can range from superficial, such as oral thrush and vaginitis, to systemic infections such as candidiasis of the bloodstream. Candidiasis most commonly affects the mouth, throat, skin, and vagina, but can also affect other parts of the body, especially in the compromised host. While candidiasis can be treated with antifungal drugs including topical creams, ointments, and oral treatments, the increased emergence of drug resistance among Candida species has turned the focus towards the development of combination therapies.
Market key trends:
One of the key trends witnessed in the candidiasis market is rising combinations of available antifungal drugs. With emergent multi-drug resistance among Candida isolates, clinicians are increasingly relying on combination antifungal therapies that bring two or more drug classes with differing mechanisms of action together. Combinations such as echinocandins with azoles are being evaluated to expand the spectrum of coverage, achieve synergy and prevent or delay the emergence of resistance. Another key trend is the focus on research evaluating new classes of antifungal drugs with novel mechanisms of action and combination therapies that could overcome the limitations of currently available drugs and address the rising need for alternatives.
Read More Insights: https://www.coherentmarketinsights.com/market-insight/candidiasis-market-229
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up manufacturing plant requires high capital investment. However, generic players can enter the market with low cost and marketing strategy.
Bargaining power of buyers: The bargaining power of buyers is moderate. Candidiasis has several treatment options, so patients can switch between brands easily. However, branded drugs have some advantages over generic drugs.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute components from multiple suppliers globally. Suppliers do not have control over prices as the industry is commoditized.
Threat of new substitutes: The threat of new substitutes is low. Candidiasis has limited treatment options and developing new antifungal drugs requires extensive R&D and clinical trials. Biosimilars may pose some threat in the long run.
Competitive rivalry: The competitive rivalry is high among existing players. Major players compete on pricing, new product launches, and marketing & promotion activities to gain higher market share in this consolidating industry.
Key Takeaways
The global candidiasis market is expected to witness high growth, exhibiting CAGR of 3.2% over the forecast period, due to increasing incidence of HIV/AIDS and growing elderly population. North America is expected to dominate the candidiasis market during the forecast period owing to high awareness about treatment and technological advancements in the region.
The global candidiasis market size for 2023 is estimated to be US$ 984.80 Mn. The market is projected to reach ~US$ 1,300 Mn by 2030.
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. Key players are focusing on new drug launches and geographic expansion to strengthen their market position.
