Global Echinocandins Market, By Drug Type (Caspofungin, Micafungin, Anidulafungin), Application (Esophageal Candidiasis, Candidemia with Invasive Candidiasis, Febrile Neutropenia, Invasive Aspergillosis, Others), Dosage (Injectables, Others), Route of Administration (Intravenous, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others) – Industry Trends and Forecast to 2029.
Market Analysis and Size
In recent years, the echinocandins market is anticipated to grow rapidly during the forecast period. Echinocandin is a form of antifungal drug which prevents the production of cell walls. The -1, 3-glucan synthase complex is inhibited by these compounds. Caspofungin is the first echinocandin candidate to receive FDA approval. The United States Food and Drug Administration has approved caspofungin for the treatment of invasive candidiasis in patients who have failed to respond to other antifungal drugs, as well as for empirical therapy in febrile neutropenia, esophageal candidiasis, and certain forms of candidemia. In comparison to other antifungal medicines, echinocandins have a number of advantages. Less chance of drug–drug interactions, a unique mode of action, and a lower incidence of adverse effects are all potential advantages of echinocandins.
Data Bridge Market Research analyses that the echinocandins market was valued at USD 515.20 million in 2021 and is expected to reach USD 796.69 million by 2029, registering a CAGR of 5.6% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Echinocandins are an antifungal medication class that works by attacking the fungus cell wall. They are lipopeptide compounds that block the enzyme (1,3) beta-d-glucan synthase in a non-competitive manner. Because this enzyme produces glucan, a significant fungal cell wall component, blocking its synthesis damages fungal cell walls. Echinocandins have fungistatic (fungus growth inhibition) activity against Aspergillus species, and fungicidal (kill parasitic fungi or their spores) activity against Candida species.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (PD – L1 Antagonists, CTLA4 Antagonists, Immunocheckpoint Inhibitors, Other), Application (Cancer, Melanoma, Others), Mechanism of Action (Antibody-Dependent Cell Cytotoxicity, Cytotoxic T-Lymphocyte Antigen 4 Inhibitors, T Lymphocyte Stimulants), Dosage (Liquids, Injectables, Others), Route of Administration (Intravenous, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Fresenius SE & Co. KGaA (Germany), Glenmark Pharmaceuticals Limited (India), F. Hoffmann-La Roche Ltd. (Switzerland), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd.(Israel), Sanofi (France), Pfizer Inc. (US), GlaxoSmithKline plc (UK), Novartis AG (Switzerland), Sun Pharmaceutical Industries Ltd. (India), Gilead Sciences, Inc. (US), Apotex Inc. (Canada), Amneal Pharmaceuticals LLC. (US), Zydus Cadila (India), Aurobindo Pharma (India), Cipla Inc. (US), Hikma Pharmaceuticals PLC (UK), Dr. Reddy’s Laboratories Ltd. (India), WOCKHARDT (India), Bausch Health Companies Inc. (Canada), Lannett (US), Torrent Pharmaceuticals Ltd. (India)
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Market Opportunities
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Echinocandins Market Dynamics
Drivers
- Rise in the incidences of fungal infections
The rising incidences of fungal infections are a primary driver of the growth of the antifungal drugs market. Antifungal agents are effective against systemic and superficial infections which are attained from exposure to contaminated surfaces in hospitals or humid conditions.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of echinocandins market is the rising healthcare expenditure which helps in improving its infrastructure.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the echinocandins market. Additionally, high disposable income and changing lifestyle of people will result in the expansion of echinocandins market. Along with this, rising geriatric population and favourable reimbursement policies will enhance the market's growth rate.
Opportunities
- Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the echinocandins market growth. Along with this, ongoing clinical trials with echinocandins will further propel the market’s growth rate.
Moreover, rising investment for the development of advanced technologies and an increase in the number of emerging markets will provide beneficial opportunities for the echinocandins market growth during the forecast period.
Restraints/Challenges
On the other hand, the high cost associated with drug development and distribution will obstruct the growth rate of market. The increasing number of population with antifungal drug resistance and lack of healthcare infrastructure in developing economies will challenge the echinocandins market. Additionally, side effects of echinocandins including severe rash, itching, fever, hepatitis and others will act as market restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This echinocandins market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the echinocandins? market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
Echinocandins market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
COVID-19 Impact on Echinocandins Market
Over the projected period, the echinocandins market is expected to be constrained by the COVID-19 outbreak. Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19, a new coronavirus, was identified as the causal agent in the pneumonia cases. This virus spread quickly over the world, killing many people. COVID-19 was labelled a global pandemic by the World Health Organization (WHO) in March 2020, and rigorous measures to prevent the disease's spread were recommended. Since then, the pandemic has delayed the expansion of the healthcare sector and disrupted the supply chain. Furthermore, governments in many nations have imposed nationwide lockdowns to halt the spread of COVID-19. Similarly, healthcare organizations in numerous nations throughout the world are having difficulty continuing their supply chain activities. The supply chain slowness has also hampered the echinocandins? market.
Global Echinocandins Market Scope
The echinocandins market is segmented on the basis of drug type, application, dosage, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Drug Type
- Caspofungin
- Micafungin
- Anidulafungin
On the basis of type, the global echinocandins market is segmented into caspofungin, micafungin, and anidulafungin.
Application
- Esophageal Candidiasis
- Candidemia with Invasive Candidiasis
- Febrile Neutropenia
- Invasive Aspergillosis
- Others
On the basis of application, the global echinocandins market is segmented into esophageal candidiasis, candidemia with invasive candidiasis, febrile neutropenia, invasive aspergillosis and others.
Dosage
- Injectables
- Others
On the basis of dosage, the echinocandins market is segmented into injectables and others.
Route of Administration
- Intravenous
- Others
The route of administration segment for the echinocandins market is segmented into intravenous and others.
End-Users
- Hospitals
- Specialty Clinics
- Homecare
- Others
On the basis of end-users, the echinocandins market is segmented into hospitals, specialty clinics, homecare and others.
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
On the basis of distribution channel, the echinocandins market has also been segmented into hospital pharmacy, retail pharmacy, online pharmacy and others.
Echinocandins Market Regional Analysis/Insights
The echinocandins market is analysed and market size insights and trends are provided by country, drug type, application, dosage, route of administration, end-users and distribution channel as referenced above.
The countries covered in the Echinocandins market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the echinocandins market because of the growing prevalence rate of fungal infections and increase in the number of research and development activities in this region. Additionally, the growing presence of major key players and ongoing clinical trials echinocandins will further propel the market’s growth rate in this region.
Asia-Pacific is expected to grow during the forecast period of 2022 to 2029 due to rising healthcare expenditure and increasing government initiatives to improve healthcare infrastructure in this region. Also, growing geriatric populations and rising level of disposable income with will further propel the market’s growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Echinocandins Market Share Analysis
The Echinocandins market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to echinocandins market.
Some of the major players operating in the echinocandins market are:
- Fresenius SE & Co. KGaA (Germany)
- Glenmark Pharmaceuticals Limited (India)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (US)
- Teva Pharmaceutical Industries Ltd.(Israel)
- Sanofi (France), Pfizer Inc. (US)
- GlaxoSmithKline plc (UK)
- Novartis AG (Switzerland)
- Sun Pharmaceutical Industries Ltd. (India)
- Gilead Sciences, Inc. (US)
- Apotex Inc. (Canada)
- Amneal Pharmaceuticals LLC. (US)
- Zydus Cadila (India)
- Aurobindo Pharma (India)
- Cipla Inc. (US)
- Hikma Pharmaceuticals PLC (UK)
- Dr. Reddy’s Laboratories Ltd. (India)
- WOCKHARDT (India)
- Bausch Health Companies Inc. (Canada)
- Lannett, Pharmaceutical Associates Inc. (US)
- Torrent Pharmaceuticals Ltd. (India)
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