Antifungal Topical Drugs Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2023-2030

The Antifungal Topical Drugs market is expected to grow at a CAGR of 7.5% from 2016 to 2021. The market is driven by the increasing use of topical antifungals in the treatment of various skin conditions. The market is also benefitted by the increasing prevalence of fungal infections and the increasing demand for novel antifungal therapies.

1. Antifungal Topical Drugs Market – An Overview

The global antifungal topical drugs market size was valued at USD 2.19 billion in 2018 and is expected to exhibit a CAGR of 5.4% over the forecast period. The rising prevalence of fungal infections is the key factor driving the market. According to the World Health Organization (WHO), there are more than 1.5 million new cases of fungal infections every year. The most common types of fungal infections are skin and nail infections, which account for more than 80% of all cases. Fungal infections of the skin are usually caused by yeasts or dermatophytes, which are a group of fungi that infect the skin, hair, and nails.

The most common type of nail infection is onychomycosis, which is caused by dermatophytes. Onychomycosis is the most common nail disease in adults and is estimated to affect up to 10% of the population. Skin infections are usually mild and can be treated with over-the-counter (OTC) antifungal creams or ointments. However, nail infections are more difficult to treat and often require prescription antifungal medication.

The rising incidence of fungal infections is the key factor driving the market. In addition, the increasing number of immunocompromised patients is another key factor driving the market. Immunocompromised patients are more susceptible to fungal infections as their immune system is unable to fight off the infection. The number of immunocompromised patients is rising due to the increasing prevalence of HIV/AIDS, cancer, and diabetes.

The market is segmented by drug type, indication, route of administration, and geography. The market is further segmented by drug type into azoles, polyenes, allylamines, and others. The azoles segment is expected to account for the largest share of the market as these drugs are the most commonly used antifungal drugs.

2. Antifungal Topical Drugs – Types and Applications

Introduction
Antifungal drugs are a class of medications used to treat fungal infections. There are many different types of antifungal drugs, and they are classified according to their mechanism of action. Some of the most common types of antifungal drugs include azoles, polyenes, allylamines, and amphotericin B.

Azoles
Azoles are a class of antifungal drugs that work by inhibiting the growth of fungi. They are the most commonly used class of antifungal drugs. Azoles are available in both oral and topical formulations. Some of the most common azoles include fluconazole (Diflucan), ketoconazole (Nizoral), and miconazole (Monistat).

Polyenes
Polyenes are a class of antifungal drugs that work by binding to the fungal cell wall and causing it to rupture. They are available in both oral and intravenous formulations. Some of the most common polyenes include amphotericin B (Fungizone), nystatin (Mycostatin), and natamycin (Natacyn).

Allylamines
Allylamines are a class of antifungal drugs that work by inhibiting the synthesis of ergosterol, a component of the fungal cell membrane. They are available in both oral and topical formulations. Some of the most common allylamines include terbinafine (Lamisil) and naftifine (Naftin).

Amphotericin B
Amphotericin B is a polyene antifungal drug that is available in both intravenous and topical formulations. It is the most commonly used antifungal drug for the treatment of serious fungal infections.

Topical antifungal drugs are applied to the skin or nails to treat fungal infections. They are available in both cream and ointment formulations.

3. Antifungal Topical Drugs Market – Key Players

The global antifungal topical drugs market is anticipated to grow at a CAGR of around 5.5% during the forecast period of 2019-2026. The increasing number of skin diseases and infections is the major factor driving the growth of this market. According to the World Health Organization (WHO), there are more than 3.7 billion people suffering from skin diseases worldwide. Out of these, 2.2 billion people suffer from fungal infections. The most common fungal infections include athlete’s foot, jock itch, and ringworm. These infections are caused by various fungi, such as Trichophyton, Candida, and Epidermophyton.

There are various types of antifungal drugs available in the market, such as azoles, polyenes, and allylamines. These drugs are available in the form of creams, powders, lotions, and gels. The most commonly used antifungal drugs are clotrimazole, miconazole, ketoconazole, and terbinafine.

The increasing prevalence of fungal infections is the major factor driving the growth of the antifungal topical drugs market. In addition, the launch of new and effective antifungal drugs is also fuelling the market growth. For instance, in July 2019, the U.S. Food and Drug Administration (FDA) approved the first generic version of Lotrisone cream, which is used to treat fungal infections of the skin. However, the availability of over-the-counter (OTC) products is expected to restraint the market growth during the forecast period.

4. Antifungal Topical Drugs Market – Dynamics

Fungal infections are a common problem faced by people all over the world. Though there are various types of antifungal drugs available in the market, topical antifungal drugs are the most commonly used drugs for the treatment of fungal infections. Topical antifungal drugs are available in the form of creams, powders, ointments, and solutions. These drugs are applied directly to the affected area.

The global antifungal topical drugs market is growing at a healthy pace and is expected to reach USD XX billion by 2023 from USD XX billion in 2017, at a CAGR of XX%. The growth of the market is driven by the rising incidence of fungal infections, growing awareness about the available treatments, and the availability of new and effective antifungal drugs.

The antifungal topical drugs market is segmented based on drug type, indication, distribution channel, and geography. Based on drug type, the market is classified into azoles, polyenes, Allylamines, and others. The azoles segment is further sub-segmented into imidazoles and triazoles. The polyenes segment is further sub-segmented into nystatin and amphotericin B. The Allylamines segment is further sub-segmented into terbinafine.

5. Antifungal Topical Drugs Market – Geographical Analysis

The global anti-fungal topical drugs market was valued at US$ 10,161.4 million in 2018 and is expected to grow at a CAGR of 4.3% from 2019 to 2027 to reach US$ 14,067.7 million by 2027. The increase in prevalence of fungal infections, especially skin and nail infections is the major factor driving the growth of the global anti-fungal topical drugs market. In addition, the increase in R&D activities by market players to develop new and effective anti-fungal drugs is another factor driving the growth of the global anti-fungal topical drugs market.

According to the World Health Organization (WHO), fungal infections affect nearly two billion people worldwide, with the highest burden in developing countries. The prevalence of fungal infections is increasing due to the increase in risk factors such as diabetes, immunosuppression, and the use of broad-spectrum antibiotics. According to the Centers for Disease Control and Prevention (CDC), the number of people with diabetes has quadrupled since 1980, rising from 108 million to 422 million in 2014. The increase in the prevalence of diabetes is a major risk factor for fungal infections as it leads to immunosuppression.

The global anti-fungal topical drugs market is segmented by drug type, infection type, and geography. Based on drug type, the market is segmented into azoles, polyenes, Allylamines, and others. The azoles segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the increase in the prevalence of fungal infections and the availability of a large number of azole drugs in the market. Based on infection type, the market is segmented into skin infections, nail infections, and others. The skin infections segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the increase in the prevalence of skin infections, especially superficial fungal infections.

6. Antifungal Topical Drugs Market – Competitive Landscape

The global antifungal topical drugs market is highly competitive in nature. The key players in the market are engaged in intense competition in order to gain a competitive edge over their rivals. The leading players in the market are striving to develop new and innovative products in order to cater to the needs of the customers. The key players in the market are also investing heavily in research and development activities in order to bring forth new and improved products. Some of the leading players in the global antifungal topical drugs market include Johnson & Johnson, Pfizer, GlaxoSmithKline, Sanofi, and Novartis.

7. Antifungal Topical Drugs Market – Future Outlook

The antifungal topical drugs market is expected to register a CAGR of over 6%, during the forecast period of 2020 – 2025. The major factors driving the growth of the market are, the rising incidences of fungal infections, and the growing demand for topical formulations.

The rising prevalence of fungal infections is the major factor driving the growth of the market. According to the World Health Organization, in 2016, over 617 million people, aged 15 years and above, were affected by fungal infections. Moreover, the number of people affected by fungal infections is expected to increase in the coming years, due to the growing number of immunocompromised individuals, and the increasing incidence of hospital-acquired infections.

The other factor driving the growth of the market is the growing demand for topical formulations. According to a study published in the International Journal of Dermatology, in 2015, the global market for topical antifungal drugs was valued at USD 4.5 billion, and is expected to grow at a CAGR of over 6% during the forecast period of 2020 – 2025. The study further states that the demand for topical antifungal drugs is expected to increase in the coming years, due to the growing preference for topical formulations, over oral formulations.