Candidiasis, commonly known as thrush, is a fungal infection caused by any type of candida, especially Candida albicans, which commonly inhabit or infect the skin, mouth, throat, and vagina. It can cause infections in the skin, mouth, throat and esophagus, and even bloodstream and organs in more serious cases. Oral thrush is prevalent in elderly populations or those with dentures due to changes in mouth flora. Vulvovaginal candidiasis is common among women of reproductive age. The rising cases of opportunistic infections, AIDS patients, and increasing adoption of immunosuppressant therapy are elevating the risks of contracting candidiasis.

The global candidiasis market is estimated to be valued at US$ 984.8 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the growth of the candidiasis market is the rising prevalence of opportunistic fungal infections. Factors such as rising number of immunocompromised population due to AIDS, cancer, organ transplantation, prolonged usage of immunosuppressants, and extended hospital stays are fueling the risk of contracting candidiasis. According to UNAIDS report of 2022, around 38.4 million people were living with HIV/AIDS globally in 2021 and it is estimated that around 1.5 million new infections occurred. Additionally, the World Health Organization (WHO) estimates that candidiasis affects nearly 20% of HIV/AIDS patients worldwide. This puts a large population at a higher risk of contracting candidiasis. Furthermore, rising geriatric population is contributing to the market growth as oral thrush is highly prevalent in elderly populations especially those with dentures.

SWOT Analysis

Strength: Some of the key strengths in the Candidiasis market size include high prevalence of the disease globally, availability of various treatment options, and increasing funding for research and development activities. The market also benefits from growing awareness regarding symptoms and management of the condition.

Weakness: However, the market faces some weaknesses as well. For instance, lack of new drug approvals and pricing pressures from regulatory authorities hamper market growth. Moreover, improper sanitization and unawareness in underdeveloped regions pose challenges.

Opportunity: The market has significant growth opportunities due to the presence of a strong product pipeline. There is scope for developing combination therapies and products targeting resistant fungal strains. Expanding healthcare facilities in emerging nations will further boost the candidiasis market.

Threats: On the other hand, key threats include strong competition amongst existing players and the risk of drug failure during clinical trials. Moreover, lack of adequate healthcare infrastructure and compliance in some regions poses a threat. Stringent regulations for approval of antifungal drugs also restrict market growth.

Key Takeaways

The global Candidiasis market is expected to witness high growth over the forecast period from 2023 to 2030. The market size is projected to reach US$ 984.8 Mn in 2024, indicating a CAGR of around 8.8% during the forecast period.

Regional analysis indicates that North America dominates currently due to advanced healthcare facilities and growing elderly population in the region. Asia Pacific is expected to register fastest growth owing to improving access to diagnosis and treatment in India and China. Besides, expanding medical tourism industry in Asian countries will boost the Candidiasis market in the region.

Key players operating in the Candidiasis market include Basilea Pharmaceutica Ltd, Astellas Pharma Inc., SCYNEXIS, Inc., NovaDigm Therapeutics, Mycovia Pharmaceuticals, Inc., Pfizer Inc, and Viatris Inc., among others. Basilea Pharmaceutica Ltd is a prominent player with a diverse product portfolio to treat Candidiasis and other infections. On the other hand, Astellas Pharma is investing in R&D of combination therapies.

Get more insights on this topic: https://www.newswirestats.com/candidiasis-market-size-and-outlook-2023-2030/