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The global Chronic Aspergillosis Treatment Market is estimated to be valued at US$ 3.21 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Chronic aspergillosis is a group of lung diseases caused by fungal infections that leads to inflammation and scarring in the lungs. It is mainly caused by Aspergillus fungus which is commonly found in decaying vegetation and grows well in moist and warm conditions. The main types of chronic aspergillosis include chronic pulmonary aspergillosis, chronic sinus aspergillosis, and chronic disseminated aspergillosis. Most common treatment options includes oral or intravenous antifungal medications such as voriconazole, itraconazole and amphotericin B. Increased awareness about diagnosis and treatment of this life threatening disease is expected to boost the demand for chronic aspergillosis treatment drugs over the forecast period.
Market key trends:
One of the key trend in the chronic aspergillosis treatment market is the development of novel drug delivery forms. Currently available treatment options involve intravenous and oral routes of drug administration. However, to improve patient compliance and address site specific treatment, companies are focused on developing new drug delivery formulations such as inhaled antifungals and targeted drug therapies. For instance, Evolusumab developed by F2G is an inhaled formulation of amphotericin B targeting direct delivery to the lungs. Similarly, PAN-307 being developed by Pulmocide is a nebulized liposomal formulation of amphotericin B for treating chronic pulmonary aspergillosis. Such novel formulations are expected to offer more effective treatment and drive the market growth during the forecast period.
Porter’s Analysis
Threat of new entrants: Low barriers to entry,such as capital requirements or technology but new players face established brands and distribution networks of existing players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute treatments. However certain drugs have patent protection.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to requirement of specialized raw materials and inputs for manufacturing of drugs.
Threat of new substitutes: Potential new drug classes that can be developed to treat chronic aspergillosis with lesser side effects pose threat.
Competitive rivalry: Intense competition among existing players due to presence of substitutes and established brands.
Key Takeaways
The global Chronic Aspergillosis Treatment market is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing prevalence of immunosuppressive diseases associated with chronic conditions. The North America region is expected to dominate the market throughout the forecast period owing to growing incidences of chronic pulmonary diseases and technological advancements in the region. Europe is expected to witness steady growth in the Chronic Aspergillosis Treatment market during the analysis period.
Key players operating in the Chronic Aspergillosis Treatment market are Astellas Pharma Inc., Abbott Laboratories, Pfizer Inc., Pulmocide Ltd., Johnson & Johnson, Mylan N.V., Glenmark Pharmaceuticals, Merck & Co., Inc., Mayne Pharma Group Limited, GlaxoSmithKline plc., PULMATRiX, Inc., F2G Ltd, Teva Pharmaceutical Industries Ltd., and Novartis International AG. Astellas Pharma Inc., has a strong brand presence for antifungal drugs such as Mycamine and offers treatments for difficult-to-treat chronic fungal infections including chronic pulmonary aspergillosis.
Regional analysis
Europe Chronic Aspergillosis Treatment market is expected to witness significant growth due to increasing R&D investments for development of novel drugs to treat chronic fungal infections. According to European Lung white book 2012, chronic pulmonary aspergillosis (CPA) is a major problem in Europe, attributable to approximately 14,000 deaths annually. This is expected to fuel the demand for anti-fungal drugs and drive market growth in the region over forecast period.
