Candidiasis, commonly known as thrush, is a fungal infection caused by any type of Candida yeast, usually Candida albicans. It primarily affects the mouth, throat, and esophagus but can also infect the genitals and cause a condition known as vaginal candidiasis. Candida infections can occur on any part of the body where moisture occurs and range from superficial, mild infections to serious deep-seated infections of vital organs. Treatment usually involves use of antifungal medications such as fluconazole, ketoconazole, nystatin, etc. available in formulations like capsules, tablets, lozenges, ointments, and creams. The rising prevalence of systemic illnesses such as diabetes, HIV, and cancer which weaken the immune system and predispose patients to opportunistic infections like candidiasis is a key driver of the market growth.
The global Candidiasis Market is estimated to be valued at US$ 984.8 Mn 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:
One of the major trends in the Candidiasis Market is the increasing research efforts for developing new antifungal drugs with novel mechanisms of action. Several pharmaceutical companies are undertaking clinical trials of new antifungal classes to address issues like high treatment costs, drug resistance, drug interactions, and adverse effects associated with existing leading drugs. For example, SCYNEXIS, Inc. launched an oral formulation of ibrexafungerp in June 2022 indicated for vulnerable patient populations suffering from vaginal yeast infections, invasive Candida infections and refractory invasive fungal infections. If approved, ibrexafungerp can provide an affordable and safer treatment option.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the established key players have strong presence and experience in the candidiasis market. However, there is opportunity for new products targeting antifungal drug resistance.
Bargaining power of buyers: The bargaining power of buyers is moderate as candidiasis treatment options are diverse and many generics are available at lower costs.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate as raw material suppliers have capability to meet bulk supply requirements of top players.
Threat of new substitutes: New substitutes threat is low as standard and effective treatment options already address candidiasis. However, focus on resistance can provide opportunities.
Competitive rivalry: The candidiasis market sees moderate to high competition among top players to gain market share through new drug launches and acquisitions.
Key Takeaways
The Global Candidiasis Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regionally, North America is expected to dominate the market backed by strong healthcare infrastructure and growing cases of nosocomial infections. Europe is also expected to account for a significant market share owing to high research activities. Asia Pacific region is poised to grow at fastest pace due to increasing awareness and improving healthcare facilities.
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. Key players are focused on new product launches and adopting merger and acquisition strategies to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it