Rockville, MD, Dec. 04, 2024 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global coccidioidomycosis drugs market is estimated to reach a valuation of US$ 393.1 million in 2024 and is expected to grow at a CAGR of 4.9% during the forecast period of (2024 to 2034).
The global coccidioidomycosis drugs market is set to witness significant growth over the next few years driven by increased awareness, development in antifungals with new technologies, and access to health care in regions endemic for this disease like the southwestern part of the United States and parts of Central and South America. According to Fact.MR, the upward trajectory of the market is underpinned by a confluence of factors in light of an increased prevalence of valley fever, improving diagnostics, and demand for effective treatments, especially as more cases are showing up with environmental factors.
The coccidioidomycosis drugs market has grown steadily during the past years, supported by several critical factors. The key drivers include rising awareness of the prevalence of valley fever, particularly in its endemic regions, enabled by healthcare initiatives and state policies increasing public awareness. Growing demand for antifungal therapies, primarily azole antifungals, contributed to the market, driven by effective outpatient treatment needs of patients and healthcare providers. These two drugs are the preferred choice to treat the infection due to their availability and ease of usage. Since it is less expensive, these two drugs are pre ferred for mild or moderate cases. Growing demand along with improvement related to the formulations of antifungal drugs, has facilitated the growth in the market.
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Recent innovations in lipid-based formulations of Amphotericin B try to reduce toxicity developed by polyene drugs so that they can be safely administered in serious or disseminated cases of coccidioidomycosis. This has widened the therapeutic horizons for patients with progressive infections and has been of particular benefit to those who are immunocompromised. Newer approaches to resistant cases include combination therapies using azoles together with polyenes or echinocandins, further widening treatment options.
With wider availability and better drug formulations, health providers now have more effective tools for the treatment of valley fever, says an analyst at Fact.MR. This trend is likely to see further reflection as new products come into the market to further support positive patient outcomes.
Key Takeaways from the Market Study:
- The global coccidioidomycosis drugs market is projected to grow at 9% CAGR and reach US$ 634.3 million by 2034
- The market created an opportunity of US$ 57.8 million growing at a CAGR of 3% between 2019 to 2024
- North America is a prominent region that is estimated to hold a market share of 7% in 2034
- Predominating market players include Pfizer Inc., and Glenmark Pharmaceutical Inc among others.
- Oral segments under route of administration are estimated to grow at a CAGR of 1% creating an absolute $ opportunity of US$ 160.0 million between 2024 and 2034
“Higher diagnosis rates and awareness are substantially driving the demand for valley fever treatment options, as healthcare providers increasingly use antifungal therapies to manage mild to severe cases, says a Fact.MR analyst.
Leading Players Driving Innovation in the Coccidioidomycosis Drugs Market:
Pfizer Inc.; Glenmark Pharmaceutical Inc; Cipla Inc; Sun Pharmaceutical Industries Ltd.; Viatris Inc.; Novartis AG (Sandoz); Gilead Sciences, Inc.; Merck & Co., Inc.; Dr Reddy's Laboratories (UK) Ltd; Xellia Pharmaceuticals; FUJIFILM Toyama Chemical Co., Ltd.; Nippon Chemiphar Co., Ltd; Other Prominent Players
Market Development:
The growth strategy for the coccidioidomycosis drugs market involves geographic expansion concerning therapeutic development. Other pharmaceutical companies also expand into emerging markets that might present cases from either travel to and from endemic areas or due to climate change. Greater migration and travel between North America and other parts of the world has raised increased international awareness, thus encouraging companies to expand their reach and improve access to antifungal therapies.
The company Walgreens is already on its way to executing this by introducing online pharmacy services that could facilitate accessibility for antifungal drugs in patients suffering from valley fever. On August 2022, OFRANTIN is on the list of antifungal medications as is being sold on the Walgreens website. Due to its desire to increase the accessibility of antifungal medications to those in the more rural regions as well as to increase patient compliance to the long-term treatment process of valley fever, Walgreens started an online service.
Online services make it easier for patients, especially those suffering from chronic or recurrent infections, to have easy access to maintenance drugs supporting their treatment and general outcomes. This trend of digital health solutions is expected to make inroads into assuring access to the most remote or less-privileged areas of patient populations.
Companies are sinking money into R&D to introduce safer and more effective drugs into the market. Recent partnerships, such as between the NIH & multi-national pharmaceutical companies are developing vaccines for the treatment and management of valley fever, which signifies growth in the market commitment toward therapeutic advancements. A preventive vaccine would likely alter the landscape of treatments and, by reducing infection rates, would decrease the ultimate burden on health systems in endemic areas. This vaccine would constitute a breakthrough in the first preventive approach that could contribute to long-term public health goals while potentially reducing demand for antifungal therapies.
- In June 2021: Through the new market access to an emerging market, the liposomal amphotericin B market was successfully launched by Gilead Sciences Inc. had availed a liposomal Amphotericin B formulation that was safer than standard treatment regimen in addressing deadly fungi in so-called, “resource-limited settings.”
- In April 2020, Combination Therapy, Azoles, and Polyenes opened up new Possibilities according to the Journal of Antimicrobial Therapy (JAT). Strombol was identified as working in cases of resistant coccidioidomycosis through the administration of the azole-polyene combination therapy, making it a new possible treatment for those who do not respond to single-drug treatments.
Coccidioidomycosis Drugs Industry News:
- March 2023: New Formulation of Fluconazole Clears FDA for Expanded Use (Source: FDA). The FDA cleared the use of fluconazole’s extended-release formulation for weekly administration, thus optimizing treatment in chronic cases of the disease.
- October 2022: To build upon the study, NIH embarked on a partnership to advance the development of a vaccine for coccidioidomycosis in populations at risk in endemic regions. This would to a large extent help in the prevention of the disease from occurring in the first instance.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global coccidioidomycosis drugs market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of drug class (azole antifungals, polyenes, echinocandins, and combination therapy), route of administration (oral and intravenous), patient demographics (adults, pediatric, and immunocompromised patients), disease severity (acute coccidioidomycosis, chronic coccidioidomycosis, and disseminated coccidioidomycosis), by distribution channel (hospital pharmacies, and retail pharmacies, and online pharmacies) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
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