Retail Pharmacy Segment to Dominate India Anti-Fungal Drugs Market through FY2027F
Increasing prevalence of nosocomial infections and unhygienic environmental conditions are expected to drive the India anti-fungal drugs market in the forecast period.
According to TechSci Research report, “India Anti-Fungal Drugs Market By Drug Class (Azoles, Echinocandins, Polyenes, Allylamines, Others), By Indication (Candidiasis, Aspergillosis, Dermatophytosis, Mucormycosis, Others), By Infection Type (Superficial Fungal Infection, Systemic Fungal Infection), By Route of Administration (Parenteral, Topical, Oral, Others), By End-User (Homecare, Hospitals, Clinics, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, Online Pharmacy), By Region, Competition Forecast & Opportunities, FY2027F”, India anti-fungal drugs market is expected to reach USD1562.73 million by FY2027 and to grow with a double digit CAGR of 10.49% over the forecast period. Fungi are defined as microorganisms which can cause variety of infections such as growth of the superficial itchy skin upon contact with human body.
These kind of infections takes place due to the presence of low immune systems or exposure to unhygienic environment containing fungus to the human body. Fungal infections generally occur on skin, hair and lungs and affects the body adversely. Anti-fungal drugs are used for treatment of these infections. These anti-fungal drugs can be easily obtained either through over the counter or through doctor’s prescription. Moreover, surge in number of infectious diseases due to presence of unhygienic conditions in rural areas is accelerating the demand for anti-fungal drugs in India. Treatment in healthcare facilities can lead to hospital-acquired diseases such as nosocomial infections. Also, the other factors responsible for nosocomial infections are increasing prevalence of cancer and other diseases which lowers the immune system of patients.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected countries adversely. Leading authorities of India imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing. Indian authorities increased the capacity of hospitals as greater number of patients were getting affected daily and getting admitted into the hospital facilities. Patients suffering from COVID-19 found to have small amounts of Interferon’s in lungs or blood. Anti-fungal drugs along with anti-depressant drugs are used widely for the treatment of COVID–19 patients which is expected to positively influence the market growth.
However, stringent government regulations for approval of drugs and long-term usage of drugs along with rising side-effects may hamper the anti-fungal market growth for the forecast period.
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India anti-fungal drugs market is segmented into drug class, indication, infection type, route of administration, end-user, distribution channel, regional distribution, and company. Based on indication, market is further divided into mucormycosis, dermatophytosis, aspergillosis, candidiasis, and others. The candidiasis segment is expected to be the fastest growing indication for the forecast period, FY2023-FY2027. Increase in occurrence of candidiasis fungal infections across India and presence of unhygienic environmental conditions is fuelling the growth of the anti-fungal drugs market. Based on route of administration, anti-fungal drugs market is majorly classified into oral, topical, parenteral and others.
The topical segment is anticipated to witness significant growth during the forecast period. Use of topical drugs for treatment of dermatological fungal infections is a major driver for the anti-fungal drugs market. Higher concentration of drugs can be applied to affected area and small number of doses is required for topical drug delivery. Based on distribution channel, market is fragmented into hospital pharmacy, online pharmacy, and retail pharmacy. The online pharmacy segment is expected to be the fastest growing in the next five years as the number of patients ordering anti-fungal drugs online is increasing at a rapid rate and this is expected to continue in the future as well. Increase in awareness regarding health and its benefits is also expected to boost the anti-fungal drugs market growth.
Pfizer India Ltd., Cipla Ltd., Glenmark Pharmaceuticals Ltd., Sun Pharmaceuticals Industries Ltd., Dr. Reddy’s Laboratories Ltd., Viatris Inc. (Mylan NV), Lupin Ltd., Zydus Cadila Ltd., Novartis India Ltd., Torrent Pharmaceuticals Ltd., Teva Pharmaceutical Industries Ltd., Janssen Pharmaceuticals Inc. (Johnson & Johnson), Abbott Laboratories Ltd., GlaxoSmithKline Plc, Bayer AG, Dabur India Ltd., Bharat Serums & Vaccines Ltd., BDR Pharmaceuticals Internationals Pvt. Ltd., Lifecare Innovations Pvt. Ltd., Mankind Pharma are the leading players operating in India anti-fungal drugs market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market.
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“Manufacturers are heavily investing to formulate advanced medication techniques for efficient treatment of anti-fungal diseases. Rise in use of nanotechnology for delivering medicines with better outcomes such as treatment of nail fungus and launch of nanostructured drug delivery systems for treatment of vaginal and oral candidiasis is expected to accelerate the demand for anti-fungal drugs. Government support for production of anti-fungal drugs on a large scale for treatment of patients suffering from coronavirus is expected to propel the growth of the anti-fungal drugs market until FY2027.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Anti-Fungal Drugs Market By Drug Class (Azoles, Echinocandins, Polyenes, Allylamines, Others), By Indication (Candidiasis, Aspergillosis, Dermatophytosis, Mucormycosis, Others), By Infection Type (Superficial Fungal Infection, Systemic Fungal Infection), By Route of Administration (Parenteral, Topical, Oral, Others), By End-User (Homecare, Hospitals, Clinics, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, Online Pharmacy), By Region, Competition Forecast & Opportunities, FY2027F” has evaluated the future growth potential of India anti-fungal drugs market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the India anti-fungal drugs market.
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