Fluconazole Drugs Market: Introduction
- Fluconazole is an antifungal medication that belongs to a class of drugs called azole antifungals, which are used for various yeast and fungal infections such as oropharyngeal candidiasis, vaginal candidiasis, esophageal candidiasis, fungal meningitis and other candida infections including urinary tract infection and peritonitis. Fluconazole products are available in tablet, powder, or suspension and solution form.
- In the U.S., the use of fluconazole, a new antifungal agent, was introduced in 1990
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Key Drivers and Opportunities of Global Fluconazole Drugs Market
- Increase in incidence of fungal infection is anticipated to boost the global fluconazole drugs market. For instance, according to Centers for Disease Control and Prevention, in 2017, there were over 75,000 hospitalizations and nearly 9 million outpatient visits for fungal diseases in the U.S.
- Staying in the hospital for an injury or an illness with weak immune system leads to increased risk for causing hospital acquired infection. Rise in prevalence of nosocomial infections is anticipated to fuel the global market. According to a study published in Annals of Burns and Fire Diseases, conducted during 2011 to 2014, the incidence of nosocomial fungal infection was 10%.
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- Fungal diseases pose an important threat to public health for several reasons, thus key players are focusing on research and development to expand the clinical application of fluconazole is contribute to drive the growth of market. Moreover, strategic investment by key players is likely augment the market. For instance, in July 2020, ANI Pharmaceuticals, Inc. acquired Fluconazole Tablets USP, 50mg, 100mg, 150mg, and 200mg from a private company. This acquisition enabled ANI Pharmaceutical to strengthen its product portfolio and enhance the margin opportunity and competitive position of this product.
- Providing education to healthcare providers and raising awareness among the public about the threat of fungal diseases is fueling the demand for fluconazole and subsequently, driving the market
- Rise in prevalence and awareness about fungal infection and government initiatives in developing countries offer lucrative opportunities in the global market. For instance, According to the Second Australian Atlas of Healthcare Variation, an estimated 73,777 hospitalizations for kidney and urinary tract infections were reported in Australia in 2014–2015.
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North America to Capture Major Share of Global Fluconazole Drugs Market
- North America is expected to account for major share of the global fluconazole drugs market as the region is a hub for key market players and a rise in the demand for fluconazole owing to a surge in the prevalence of nosocomial infections.
- The fluconazole drugs market in Asia Pacific is projected to expand at a rapid pace during the forecast period owing to a rise in awareness about fungal diseases
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Key Players Operating in Global Fluconazole Drugs Market
The global fluconazole drugs market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective regions. Demand for fluconazole products has increased in emerging as well as developed markets. Thus, industry players are adopting practices of appointing third-party distributors to expand market presence. This has led to a surge in the number of distributors and suppliers in emerging markets.
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