April 23, 2024

The Candidiasis Market Is Estimated To Witness High Growth Owing To Increasing Prevalence Of Opportunistic Infections

Market Overview:

Candidiasis, also known as thrush or vaginal yeast infection, refers to infection caused by yeasts, commonly Candida albicans, which causes white creamy patches in the mouth or vagina. Candidiasis is usually harmless but can be painful and uncomfortable. Candida also commonly infects the skin, especially in moist skin folds. Common use cases for products and medications in this market include treatment of oral, esophageal and vulvovaginal candidiasis.

Market Dynamics:

Increasing prevalence of opportunistic infections due to rising caseload of conditions such as HIV/AIDS and various cancers is expected to drive the global candidiasis market growth over the forecast period. According to UNAIDS, around 38 million people globally were living with HIV/AIDS in 2020. Candida infections are common in HIV infected individuals due to the weakening of their immune system. Additionally, rising prevalence of diabetes is also fueling market growth. Diabetic individuals have high risk of developing candidemia due to their compromised immune defenses. Furthermore, launch of new drug molecules and formulations for treatment of Candida infections is supporting the market expansion. For instance, in September 2020, Can-Fite BioPharma launched global multicenter phase II study evaluating Piclidenoson for treatment of moderate to severe COVID-19-induced pneumonia. However, availability of generic versions may hinder market revenue growth to some extent.

SWOT Analysis
Strength: Candidiasis Market is witnessing increasing demand due to rise in prevalence of immunocompromised population globally. The availability of generic versions of azoles and other antifungal drugs at affordable costs also contribute to the growth of this market. Growing R&D for developing novel drugs also present positive outlook.
Weakness: However, high costs associated with developing antifungal drugs and gaining regulatory approvals remains a challenge. Difficulties in diagnosis also limits the market growth to some extent.
Opportunity: Growing instances of invasive fungal diseases and rapidly aging global population offers immense opportunity. Technological advancements in diagnostics also help early and accurate detection thereby enhancing the treatment outcomes.
Threats: Patent expiries of blockbuster drugs poses pricing pressure on existing market players. Stringent regulations also delay approvals and market entries of novel drugs.

Key Takeaways

The Global Candidiasis Market Demand is expected to witness high growth, exhibiting CAGR of 3.2% over the forecast period, due to increasing aging population and growing prevalence of immunocompromised conditions like HIV/AIDS and cancer.

Regional analysis
North America dominated the global Candidiasis market in 2023 and is expected to remain the largest market during the forecast period. This is attributed to rising healthcare expenditure and rapid adoption of advanced technologies. Asia Pacific is anticipated to be the fastest growing market owing to huge patient population, increasing healthcare investments and growing awareness.

Key players
Key players operating in the Candidiasis market are Bayer, Teva Pharmaceuticals, Stellar Pharma, Pfizer, Wockhardt, Ranbaxy, Bristol Laboratories, Glenmark Pharmaceuticals, Taro Pharmaceuticals and Perrigo among many other local players. These companies are focusing on new product launches, collaborations and expansions to strengthen their market position.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it