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 and Opportunities, 2020-2030F

Market Overview

India Anti-Fungal Drugs Market was valued at USD 11263.10 Million in 2024 and is anticipated to reach USD 15130.62 Million by 2030, with a CAGR of 6.29% during 2025-2030.  

Anti fungal drugs treat infections in humans, animals, and plants, and are available as oral tablets, topical creams, and intravenous injections. These medicines target fungal cell walls, membranes, or key enzymes, stopping growth while limiting harm to human cells.

They address conditions ranging from mild skin infections such as athlete’s foot and thrush to severe systemic diseases like candidiasis and aspergillosis. Rising immunocompromised populations are increasing treatment need. In 2024, India was estimated to have 1,562,099 new cancer cases, with crude incidence rates of 107.4 per 100,000 among males and 113.3 per 100,000 among females. India also continues to carry one of the world’s largest HIV burdens, with about 2.561 million people living with HIV in 2024, an estimated 64,500 new infections, and about 32,200 AIDS-related deaths. These groups face higher fungal infection risk.

Research has introduced new drug classes and combination therapies, expanding clinical options. The COVID 19 second wave exposed shortages of antifungal medicines for mucormycosis, raising awareness and accelerating supply measures. Government programs aimed at strengthening public healthcare systems and improving access to essential medicines have supported wider availability and affordability, sustaining growth across the forecast period.

Key Report Takeaway

• Echinocandins held the largest share in 2024, driven by strong efficacy against invasive Candida and Aspergillus infections, broad-spectrum activity, and favorable safety profile.
• Azoles are projected to dominate during the forecast period, supported by versatility in treating superficial and systemic mycoses, rising resistance, and continuous formulation advancements.
• Aspergillosis accounts for the largest indication share, with high prevalence among immunocompromised patients and frequent use of targeted therapies like voriconazole and isavuconazole.
• Leading companies include Pfizer India Ltd., Cipla Ltd., Glenmark Pharmaceuticals Ltd., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Viatris Inc., Lupin Ltd., Zydus Cadila Ltd., Novartis India Ltd., and Abbott India Ltd..

Key Market Drivers

Advancements in Anti-Fungal Drugs

Pharmaceutical research in India has expanded treatment pathways through new drug classes and stronger clinical strategies. Echinocandins remain the fastest growing class because of high efficacy and improved safety. Combination therapy is increasingly used to control resistance and improve outcomes. In a multicenter study of 323 patients, posaconazole accounted for 38.6% and anidulafungin 32.8% of systemic prescriptions, reflecting current clinical preference.

Formulations now span oral, intravenous, liposomal, and advanced transdermal systems using nanocarriers and microneedles to improve absorption and tissue reach. Resistance remains a serious challenge, with declining susceptibility to voriconazole and 74% inappropriate antifungal use reported in some tertiary centers. Faster diagnostics, including PCR assays and DNA sequencing, enable earlier and targeted treatment. Improved pharmacokinetic insight has optimized dosing regimens, critical as invasive candidiasis shows up to 67% mortality within 12 months among high risk patients.

New agents such as isavuconazole provide broad spectrum activity across diverse fungal species, reducing dependence on multiple drugs. Monitoring resistance patterns remains essential, especially as 20–25% of the global population experiences superficial dermatophytosis. Emerging therapies, including immunotherapies and thiazoyl guanidine derivatives, aim to strengthen host immune response. Public awareness rose sharply after post COVID 19 mucormycosis cases, driving better stewardship efforts. Ongoing trials, including India’s CARES study evaluating ibrexafungerp for Candida auris, NCT03363841, and collaborations across 127 Indian centers, continue to accelerate innovation and expand the India anti fungal drugs market..

Growing Research and Development

R&D in India is advancing antifungal drugs with stronger efficacy, improved safety, and fewer side effects, driven by rising resistance and difficult-to-treat infections such as recalcitrant dermatophytosis. For instance, Biocon reported that Biocon Limited received US FDA approval on June 3, 2024 for Micafungin 50 mg and 100 mg vials, a complex injectable antifungal used to treat fungal or yeast infections, expanding India-linked manufacturing capability in systemic antifungals. This resistance pressure is also pushing development priorities toward broader-spectrum molecules and rational combination approaches, alongside more evidence-based treatment optimization anchored in national surveillance capacity.

Formulation science is increasingly focused on higher bioavailability, easier administration, and better adherence so that effective antifungals perform reliably in real-world use. The same national push toward data-driven decision-making is visible in government-supported infrastructure for fungal diagnostics and antifungal susceptibility mapping. For instance, a Government of India update states ICMR established the Mycology Network MycoNet in 2020 and developed eight Advanced Mycology Diagnostic and Research Centers across zones in India, connected with state governments and medical colleges for referrals and training.

Clinical trials remain central to validation and regulatory approval as next-generation agents move from promise to practice. For instance, the CARES study NCT03363841 on ClinicalTrials.gov is a multicenter, open-label, single-arm study evaluating the efficacy and safety of oral ibrexafungerp SCY-078 in adults with documented Candida auris infection, with treatment up to 90 days. At the health-system level, the same Government of India update notes that MycoNet developed a mycology clinical registry in 2023 to document invasive fungal infections and rare fungal diseases and to support antifungal susceptibility data generation for resistance monitoring in hospitals and ICUs.

During the mucormycosis surge, ensuring access to essential antifungals became a parallel priority alongside R&D and surveillance. For instance, a Ministry of Health and Family Welfare release states that, following proactive efforts, five additional manufacturers were licensed to produce Amphotericin-B in India, Natco, Alembic, Gufic, Emcure, and Lyka, and that these companies would start producing 111,000 vials per month from July 2021 with efforts to prepone some supply into June. The same release also states that 315,000 vials were planned for import in June 2021 and that total countrywide availability would be enhanced to 570,114 vials in June 2021 when combined with domestic supply, illustrating how regulatory action and supply-chain mobilization directly supported continuity of care during an emergency.

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Key Market Challenges

High treatment cost

Antifungal drugs, especially the newer and more effective ones, can be relatively expensive. The high cost of these medications can make them inaccessible to a significant portion of the population, particularly those with limited financial resources. This lack of affordability may result in delayed or inadequate treatment. High treatment costs place a substantial financial burden on individuals and families dealing with fungal infections. Patients may face difficulties in affording the medications, leading to potential financial crises and debt. In India, healthcare coverage and insurance are not universally accessible, and many individuals may lack insurance or comprehensive coverage.

The absence of insurance exacerbates the financial challenges associated with purchasing antifungal drugs. Some patients may delay or forego antifungal treatment due to its cost, which can lead to the progression of fungal infections and potentially worse health outcomes. The cost of antifungal drugs can lead to issues with medication adherence. Patients may not take the full course of treatment as prescribed, which can result in incomplete recovery and the development of drug resistance. The high cost of treatment can contribute to disparities in healthcare access. It may disproportionately affect vulnerable populations, such as those in lower socioeconomic strata, who may struggle to access necessary medications.

Antifungal Resistance

Antifungal resistance reduces the effectiveness of existing antifungal drugs. This limitation in treatment options can result in more challenging and prolonged management of fungal infections, particularly in cases of drug-resistant strains. Antifungal resistance can lead to treatment failures, where the prescribed antifungal drugs do not adequately control or eliminate the infection. This can result in persistent or recurrent fungal infections, increasing the risk to patients. Some fungal pathogens are developing multidrug resistance, meaning they are resistant to multiple classes of antifungal drugs.

This can severely limit the available treatment options and complicate patient care. Antifungal resistance can negatively impact patient outcomes, increasing the risk of complications and mortality. Patients with compromised immune systems, such as those with HIV/AIDS, are particularly vulnerable. The management of antifungal resistance often requires more extended hospital stays, frequent monitoring, and the use of more expensive antifungal drugs. This results in increased healthcare costs for patients and healthcare systems. Resistant fungal strains can be transmitted within healthcare settings, leading to outbreaks and challenges in infection control.

Key Market Trends

Increased Immunocompromised Patient Population

Immunocompromised individuals, such as those with HIV/AIDS, cancer, organ transplants, autoimmune diseases, or under immunosuppressive therapy, face a significantly higher risk of fungal infections. In India, these infections affect an estimated 57.25 million people. A study of 200 HIV-positive patients found fungal isolates in 27.56% of cases, highlighting the vulnerability of this group. Severe fungal diseases like invasive aspergillosis estimated at 250,900 annual cases—can be life-threatening, creating strong demand for prompt and effective antifungal drug treatments among immunocompromised populations.

Prophylactic use of antifungal drugs is common for preventing infections in high-risk patients, particularly before and after organ transplants or chemotherapy. However, a study of 151 Indian neonatal ICUs showed inconsistent practices, with 45.7% not using prophylactic antifungals at all. This variation underscores an unmet need for standardized prevention protocols. Long-term or recurring antifungal therapy is often required for chronically ill or severely immunocompromised patients, further driving sustained demand for antifungal medications.

Hospitalization is frequently necessary for immunocompromised patients, especially for managing complex fungal infections. Hospitals support advanced care, including intravenous administration of antifungal drugs. Among these patients, diabetes is the most common comorbidity, affecting 36.8% of cases. This overlap complicates management, increasing reliance on skilled healthcare professionals and specialized antifungal therapies tailored to complex conditions.

The specific needs of immunocompromised patients have prompted intensive research and development within the antifungal drugs sector. Pharmaceutical companies are designing drugs that meet the unique requirements of these vulnerable groups, balancing potency with safety. However, antifungal resistance remains a growing challenge, particularly in immunocompromised populations. This resistance drives the urgent need for the discovery of next-generation antifungal treatments, accelerating growth and innovation in the India Anti-Fungal Drugs Market..

India Anti-fungal Market Expansion

Pharmaceutical companies are continually introducing new antifungal drugs, expanding the options available to healthcare providers and patients. This includes the development of novel drug classes and innovative formulations. The India Anti-Fungal Drugs Market is diversifying to include various treatment modalities. In addition to traditional oral and intravenous medications, topical treatments, creams, and ointments are becoming more readily available to manage localized fungal infections.

The use of combination therapies, involving multiple antifungal drugs, is on the rise. This approach offers a more comprehensive strategy for managing fungal infections and is a part of market expansion. Prophylactic use of antifungal drugs, especially in high-risk patient populations, is becoming more common. This preventive approach expands the market by introducing antifungal drugs in situations where they may not have been used traditionally. Innovative treatment modalities, including biotechnology-based approaches and immunotherapies, are gaining attention.

These expanding options offer new ways to address fungal infections. Healthcare providers are increasingly focused on preventive measures to reduce the incidence of fungal infections. This involves the use of antifungal drugs in scenarios where patients are at high risk, contributing to market expansion. Collaboration between Indian pharmaceutical companies and international organizations is expanding access to antifungal drugs. This includes licensing agreements and initiatives to improve global health. Public health campaigns are raising awareness about the risks and prevention of fungal infections, which, in turn, expand the market by promoting early diagnosis and treatment.

Segmental Insights

Drug Class Insights

In 2024, the India Anti-Fungal Drugs Market largest share was held by Echinocandins drug class segment. Echinocandins are a class of antifungal drugs known for their effectiveness against invasive fungal infections, particularly those caused by Candida and Aspergillus species. These infections are common and can be life-threatening, which drives the demand for antifungal drugs from the Echinocandins class.

Echinocandins have broad-spectrum antifungal activity, making them effective against a range of fungal pathogens. This versatility is a key factor in their prominence in the market. Echinocandins are generally well-tolerated by patients, and they have a favourable safety profile compared to some other antifungal drug classes. This makes them a preferred choice for healthcare providers when treating serious fungal infections.  

In India Anti-Fungal Drugs market, the Azoles segment is anticipated to be dominating in the forecast period. Their broad-spectrum activity renders them effective against a wide range of fungal species, including both superficial and systemic infections. This versatility makes them indispensable in the treatment of conditions ranging from superficial skin infections to life-threatening systemic mycoses. Additionally, their relatively favorable safety profiles and ease of administration contribute to their widespread adoption in clinical practice.

The rise in the incidence of fungal infections in India, driven by factors such as increasing immunocompromised populations, widespread antifungal resistance, and a surge in invasive procedures, underscores the need for potent antifungal agents like Azoles. The pharmaceutical industry's response to this demand has been significant, with continuous research and development efforts aimed at refining existing Azole formulations and developing novel agents with enhanced efficacy and safety profiles.

Indication Insights

In 2024, the largest share of the India Anti-Fungal Drugs Market was held by the Aspergillosis segment and is predicted to continue expanding over the coming years.  Aspergillosis is a fungal infection caused by the Aspergillus species, and it is known to be one of the more common and clinically significant fungal infections in India. The prevalence of Aspergillosis is relatively high, particularly in patients with compromised immune systems, such as those with HIV/AIDS, organ transplants, or underlying respiratory conditions.

This high prevalence drives the demand for antifungal drugs to treat Aspergillosis. Aspergillosis can manifest in various forms, including invasive aspergillosis, allergic bronchopulmonary aspergillosis (ABPA), and chronic pulmonary aspergillosis (CPA). Invasive aspergillosis is a severe and often life-threatening condition that requires aggressive antifungal treatment. As a result, the demand for antifungal drugs is higher for this condition. Aspergillosis requires specialized and targeted antifungal treatment, often with drugs such as voriconazole or isavuconazole. The complexity of treating Aspergillosis means that patients often seek care at specialized healthcare facilities, including hospitals and medical centres, contributing to the prominence of this segment.

Many Aspergillosis cases occur in immunocompromised individuals, such as those undergoing chemotherapy or organ transplantation. These patients are at higher risk of fungal infections, including Aspergillosis, and often require hospitalization and intensive treatment. Improved diagnostic methods have enhanced the detection of Aspergillosis, leading to more accurate and timely diagnoses. This, in turn, has driven the demand for antifungal drugs for Aspergillosis treatment.

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Regional Insights

The North India region dominated the India Anti-Fungal Drugs Market in 2024. North India boasts highly advanced healthcare infrastructure and facilities. This includes state-of-the-art hospitals, specialised orthopaedic and sports medicine clinics, and a well-developed network of healthcare providers. This infrastructure facilitates the adoption of   Anti-Fungal drug markets for various medical procedures. North India is a leader in medical technology and research. The region is home to many innovative medical device companies and biotechnology firms that have developed advanced  Anti-Fungal Drugs Market products and techniques. These technological advancements have contributed to the market's growth and dominance.

Recent Developments

• In December 2025, the CDSCO SEC (Antimicrobial & Antiviral) recommended that Gufic Biosciences conduct an active post‑marketing surveillance (PMS) study to evaluate the safety and effectiveness of Isavuconazole (as isavuconazonium sulfate) 200 mg infusion in Indian patients with invasive aspergillosis and invasive mucormycosis.
• In December 2025, the SEC note records the PMS protocol details as CRS/25/008 (Version 1.0 dated 20 November 2025) and describes it as a multicenter, open‑label, non‑comparative, interventional, prospective, active post‑surveillance study.
• In September 2025, Alkem launched a biosimilar for the breast cancer treatment pertuzumab, named Pertuza.
• In June 2024, Biocon said it received US FDA approval for Micafungin (50 mg and 100 mg vials), describing it as an antifungal medication used to treat fungal/yeast infections and as a “vertically integrated, complex injectable” product.
• In June 2024, Biocon announced it received approval from the U.S. Food and Drug Administration (FDA) for its complex injectable drug product, Micafungin. In
• October 2023, BDR Pharmaceuticals introduced Zisavel Capsules, a generic antifungal medication designed to address invasive aspergillosis and mucormycosis. Zisavel, derived from isavuconazole, plays a crucial role in the treatment of invasive aspergillosis. BDR Pharmaceuticals aims to provide isavuconazole therapy at a cost comparable to voriconazole and posaconazole, making it more accessible to financially disadvantaged patients. Mucormycosis has a notably higher prevalence in India, with 140 cases per million people, a rate that surpasses that of developed countries significantly. In 2020, invasive aspergillosis resulted in approximately 2,360 fatalities.

Key Market Players

• 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.
• Abbott India Ltd.

Report Scope:

In this report, the India Anti-Fungal Drugs Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• India Anti-Fungal Drugs Market, By Drug Class:

o   Azoles

o   Echinocandins

o   Polyenes

o   Allylamines

o   Others

• India Anti-Fungal Drugs Market, By Indication:

o   Candidiasis

o   Aspergillosis

o   Dermatophytosis

o   Mucormycosis

o   Others

• India Anti-Fungal Drugs Market, By Infection Type:

o   Superficial Fungal Infection

o   Systemic Fungal Infection

• India Anti-Fungal Drugs Market, By Route of Administration:

o   Parenteral

o   Topical

o   Oral

o   Others

• India Anti-Fungal Drugs Market, By End-User:

o   Homecare

o   Hospitals & Clinics

o   Others

• India Anti-Fungal Drugs Market, By Distribution Channel:

o   Retail Pharmacy

o   Hospital Pharmacy

o   Online Pharmacy

• India Anti-Fungal Drugs Market, By Region:

o   North 

o   South 

o   East 

o   West 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the India Anti-Fungal Drugs Market.

Available Customizations:

India Anti-Fungal Drugs Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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