Global Markets for Antifungal Agents
The total global market for antifungal agents was worth more than $13.5 billion in 2005 and declined to just under $12.2 billion in 2006. The market will continue to dip through 2007 to $11.9 billion but will recover to more than $14.7 billion, a compound annual growth rate (CAGR) of 2.8%
Antifungal agents for humans held the highest share of the market through the forecast period. In 2007 they will be worth more than $11.2 billion and will reach nearly $14 billion by 2012, a CAGR of 4.5%.
Trends for fungal infections among animals are still a major concern as industry trends indicate. The market for animal antifungals will be worth $107 million in 2007 and will reach $110.7 million by 2012, a CAGR of 3.5%.
Fungi are highly resistant microbiological agents. In other words, they are resistant to compounds designed to eradicate them through the various antifungal mechanisms of action such as disrupting reproductive capabilities, destroying cell walls, or modifying fungal DNA and cell functioning. Fungal infections and infestations in humans, animals, plants, and the environment are also on the rise, with many having lethal consequences. As such, BCC was particularly interested in examining the antifungal market growth for current products, market shift for those products that are now relegated to OTC status previously having only been provided by prescription, and to identify new antifungal research, development, new drug applications, and novel approaches to the market.
BCC examined the antifungal market in its 2003 report PHM029A - The Market for Antifungal Drugs. Due to the rapidly changing market, BCC chose to reexamine the marketplace through another analysis and project its new growth potential. Additionally, the prior report focused only on human fungal diseases and associated antifungals. This report also incorporates the marketplace for antifungals in the veterinary, agriculture, and environmental industries.
SCOPE OF STUDY
This report contains:
- An examination of the major markets for antifungal applications in human healthcare, veterinary healthcare, agriculture and the environment/buildings
- Analysis of each market segment on the global level, with current market status, and forecasts for growth over the next five years to 2012
- Highlights and reviews of FDA restrictions, government legislation, as well as discussions on fungal resistance and changes in consumer preferences, such as a greater demand for OTC medications and/or natural and alternative remedies
- Presentation of new drug and patent applications, new methods of drug administration, drug discovery and development, and various clinical trials and applications
- Profiles for important companies
Through a comprehensive industry survey, inclusive of online database searches of industry specific data sources coupled with financial, trade, government, and marketing database sources as well as telephone interviews with independent sources comprising companies, government agencies, and academic experts, BCC was able to compile data to present our analysis of the antifungal market, by market segment. Figures presented are based on 2006 dollars.
Of the companies and agencies surveyed, the majority were pharmaceutical or compound manufacturers. Additional information was supplied by known industry/trade sources.
Danielle West is a doctor of naturopathy who has worked extensively consulting with individuals previously diagnosed with fungal infections. In addition to her naturopathic consulting practice, Dr. West is a known speaker and guest lecturer, and has authored numerous articles and several books on healthcare. She has an extensive background ghostwriting peer reviewed journal articles for the medical profession.
The market for antifungal drugs is estimated at $5.9 billion in 2002, including both prescription and OTC products.
Overall, the market is projected to rise at an average annual growth rate (AAGR) of 7.9% through 2007 to $8.7 billion.
There are about 30 branded prescription systemic and topical antifungal agents on the market and several dozen over-the-counter branded and generic topical antifungal products.
Products from several entirely new categories of compounds will be introduced during the forecast period.
More than a dozen new prescription products are in clinical development and will contribute to the growth in this market.