Fluconazole
Drugs Market: Introduction
·
Fluconazole is an antifungal medication
that belongs to a class of drugs called azole antifungals, which are used for
various yeast and fungal infections such as oropharyngeal candidiasis, vaginal
candidiasis, esophageal candidiasis, fungal meningitis and other candida
infections including urinary tract infection and peritonitis. Fluconazole
products are available in tablet, powder, or suspension and solution form.
·
In the U.S., the use of fluconazole, a new
antifungal agent, was introduced in 1990
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Key
Drivers and Opportunities of Global Fluconazole Drugs Market
·
Increase in incidence of fungal infection
is anticipated to boost the global
fluconazole drugs market. For instance, according to Centers for
Disease Control and Prevention, in 2017, there were over 75,000
hospitalizations and nearly 9 million outpatient visits for fungal diseases in
the U.S.
·
Staying in the hospital for an injury or an
illness with weak immune system leads to increased risk for causing hospital
acquired infection. Rise in prevalence of nosocomial infections is anticipated
to fuel the global market. According to a study published in Annals of Burns
and Fire Diseases, conducted during 2011 to 2014, the incidence of nosocomial
fungal infection was 10%.
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·
Fungal diseases pose an important threat to
public health for several reasons, thus key players are focusing on research
and development to expand the clinical application of fluconazole is contribute
to drive the growth of market. Moreover, strategic investment by key players is
likely augment the market. For instance, in July 2020, ANI Pharmaceuticals,
Inc. acquired Fluconazole Tablets USP, 50mg, 100mg, 150mg, and 200mg from a
private company. This acquisition enabled ANI Pharmaceutical to strengthen its
product portfolio and enhance the margin opportunity and competitive position
of this product.
·
Providing education to healthcare providers
and raising awareness among the public about the threat of fungal diseases is
fueling the demand for fluconazole and subsequently, driving the market
·
Rise in prevalence and awareness about
fungal infection and government initiatives in developing countries offer
lucrative opportunities in the global market. For instance, According to the
Second Australian Atlas of Healthcare Variation, an estimated 73,777
hospitalizations for kidney and urinary tract infections were reported in
Australia in 2014–2015.
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North
America to Capture Major Share of Global Fluconazole Drugs Market
·
North America is expected to account for
major share of the global fluconazole drugs market as the region is a hub for
key market players and a rise in the demand for fluconazole owing to a surge in
the prevalence of nosocomial infections.
·
The fluconazole drugs market in Asia
Pacific is projected to expand at a rapid pace during the forecast period owing
to a rise in awareness about fungal diseases
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Key
Players Operating in Global Fluconazole Drugs Market
The global
fluconazole drugs market is highly concentrated due to the presence of key
players. A large number of manufacturers hold a major share in their respective
regions. Demand for fluconazole products has increased in emerging as well as
developed markets. Thus, industry players are adopting practices of appointing
third-party distributors to expand market presence. This has led to a surge in
the number of distributors and suppliers in emerging markets.
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