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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