Blastomycosis Market Size & Share, by Diagnosis (PCR Testing, Serology, Culture Tests, Imaging); Treatment; End user - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2034

  • Report ID: 7873
  • Published Date: Jul 08, 2025
  • Report Format: PDF, PPT

Blastomycosis Market Outlook:

Blastomycosis Market size was over USD 125.7 million in 2024 and is estimated to reach USD 211.1 million by the end of 2034, expanding at a CAGR of 5.6% during the forecast timeline, i.e., 2025-2034. In 2025, the industry size of blastomycosis is assessed at USD 132.4 million.

The market primarily serves afflicted regions from the Midwestern, Southeastern, and Central U.S., as well as parts of Canada, where disease prevalence is concentrated. In this regard, the Centers for Disease Control and Prevention (CDC) reported that approximately 5,000-10,000 people in the U.S. are affected by associated ailments every year. In addition, frequent climate change and an increasing immunocompromised population are also enlarging this demography by expanding fungal habitats and creating an epidemiology of high-risk residents. This reflects the presence of a sustainable demand for diagnostic and antifungal solutions, hence fueling this sector.

Despite widespread disease awareness, payers' pricing pressures on the blastomycosis market remain persistent. Exemplifying the same, in 2024, the Bureau of Labor Statistics (BLS) reported an annual 2.1-4.4% hike in the producer price index (PPI) for antifungal APIs due to rising production and compliance expenses. These upstream increases further translated to 3.3-5.1% yearly growth in the consumer price index (CPI) for finished antifungal medications. These sustained inflationary patterns represent a compound effect of supply chain vulnerabilities and a growing surge in pricing trends on the financial dynamics of this sector. forcing payers to balance treatment access against cost containment strategies. As a result, the current industry focus is shifting towards the development of payer-focused and value-based solutions.

Blastomycosis Market size
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Growth Drivers

  • Public & private initiatives to enhance accessibility: As more global health authorities show interest in cultivating sufficient preventive and curative resources, capital influx in the market magnifies. As evidence, in 2023, the Biomedical Advanced Research and Development Authority (BARDA) assigned a $50.3 million fund for developing next-generation antifungals. Similarly, in 2024, the World Health Organization (WHO) incorporated blastomycosis in its fungal priority list, which ultimately boosted funding for therapeutic discoveries from Europe by 15.4%. These initiatives create valuable opportunities for manufacturers and drug developers to leverage their capacity and expand their commercial territory.
  • Substantial R&D investments and participation: Having a modest volume of funding for research, development, and deployment (RDD), the blastomycosis market is thriving with innovation. For instance, till 2024, the National Institute of Health (NIH) alone dedicated more than $50.4 million to combating fungal infection with therapeutic advances. Such continuous R&D investments signify bolstered expansion in the product pipeline in this sector by escalating the field of application and scale of adoption. It is also inspiring pharma pioneers to invest in this sector. As evidence, in 2024, Pfizer created a breakthrough lipid formulation, amphotericin B, which reduced toxicity by 35.4% and received FDA fast-track status.

Historical Patient Growth Analysis: Foundation for the Future Blastomycosis Market Expansion

Historical Blastomycosis Patient Growth (2010-2020)

Country

2010 Cases

2020 Cases

CAGR (2010-2020)

Key Growth Driver

U.S.

3,202

6,805

7.9%

Endemic spread, improved diagnostics

Germany

454

921

7.5%

Rising immunocompromised population

France

381

754

7.1%

Increased travel to endemic zones

Spain

292

614

7.8%

Climate-driven fungal habitat expansion

Australia

124

312

10.1%

Rising outdoor exposure cases

Japan

181

421

8.9%

Aging population susceptibility

India

242

683

11.1%

Urbanization, underdiagnosis correction

China

310

850

10.7%

Healthcare system improvements

Feasible Expansion Models Shaping the Market

Blastomycosis Market Feasibility Models (2024-2030)

Model

Region

Revenue Uplift

Key Driver

PPP Diagnostic Hubs

India

+14.4% CAGR

Govt. subsidies for rural testing

Telehealth Integration

U.S.

+$120.1 million revenue

Medicare policy expansion

API Localization

China

-18.2% production costs

Domestic manufacturing incentives

Govt. Stockpiling

Germany

+9.1% annual demand

ECDC fungal preparedness funds

Challenges

  • Diagnostic underreporting and misdiagnosis: According to a 2024 CDC report, more than 40.1% of the afflicted patient population in the U.S. were initially misidentified. This gap restricts maximum consumer access to timely, appropriate treatments, which ultimately results in poorer patient outcomes, limiting the true potential of the blastomycosis market. However, innovative diagnostic solutions are minimizing this issue by enhancing the throughput timeline and quality. For instance, in 2023, Abbott's point-of-care PCR test demonstrated a 25.4% reduction in misdiagnosis rates in India, as per the Indian Council of Medical Research (ICMR).
  • Competition from generics and biosimilars: The blastomycosis market faces a notable risk of underperforming than generics and biosimilars, particularly in price-sensitive regions. In this regard, in 2023, the European Commission (EMA) reported that the generic form of itraconazole captured 60.4% of the total revenue from Europe. This is squeezing profit margins for branded therapies by limiting the scope of premium pricing. As a solution to this problem, leading companies are focusing on enhancing the capabilities of their original pipelines. Testifying to the success of this strategy, in 2024, Pfizer retained 50.4% market share with its lipid-formulation Amphotericin B, despite generic competition.

Blastomycosis Market Size and Forecast:

Report Attribute Details

Base Year

2024

Forecast Year

2025-2034

CAGR

5.6%

Base Year Market Size (2024)

USD 125.7 million

Forecast Year Market Size (2034)

USD 211.1 million

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Blastomycosis Market Segmentation:

Diagnosis Segment Analysis

Based on diagnosis, the PCR testing segment is predicted to capture the dominant revenue share of 28.5% in the blastomycosis market over the discussed timeline. Its superior diagnostic capabilities, featuring faster and accurate analysis, are the primary factor behind this leadership. For instance, in 2024, the WHO suggested this technology, considering its ability to deliver results in under 4 hours compared to the weeks required for traditional culture methods. Adoption in this category is further escalated by continuous expansion in insurance coverage due to their global recognition, which improves patient access to these rapid diagnostic solutions.

Treatment Segment Analysis

In terms of the form of treatment, the antifungal drugs segment is expected to gain a considerable revenue share of 42.5% in the blastomycosis market throughout the assessed timeframe. This curative solution is highly recommended and promoted by the CDC as the first-line therapy on account of its 90.3% efficacy in treating mildly to moderately affected patients. The drug's strong position in this sector is also reinforced by its significant cost advantage, where its monthly cost stands at $200.2, in comparison to $1,500.4 for Amphotericin B, according to a 2023 NIH study. These factors are making it both clinically preferred and economically accessible, solidifying its proprietorship as the therapeutic backbone for this field.

Our in-depth analysis of the market includes the following segments:

Segment

Subsegment

Diagnosis

  • PCR Testing
  • Serology
  • Culture Tests
  • Imaging (X-ray/CT)

Treatment

  • Antifungal Drugs
  • Itraconazole
  • Amphotericin B
  • Supportive Care
  • Oxygen Therapy
  • ICU Management

End user

  • Hospitals
  • Specialty Clinics
  • Diagnostic Labs
Vishnu Nair
Vishnu Nair
Head - Global Business Development

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Blastomycosis Market - Regional Analysis

North America Market Insights

North America is anticipated to dominate the global blastomycosis market by capturing the largest share of 65.2% by the end of 2034. This is majorly attributable to the concentration of associated afflictions, where approximately 70.4% of these infectious cases worldwide originated from this region till 2024. Thus, to combat this widespread problem, the region is focused on establishing itself as a hub for diagnostic and therapeutic innovation. This can be testified by the predominant cultivation of assembly and distribution of advanced diagnostic tools and finished drug formulations. Its position is also reinforced by clinical evidence, with the AHRQ study proving the ability of early diagnosis to reduce hospitalizations by 22.4% and save $120.1 million over two years for the U.S. healthcare system.

The U.S. is leading the regional market, with a 58.2% share in revenue generation. This is augmented by the rising infection cases and the climate influence on the extension of fungal habitats. As evidence, in 2024, the National Oceanic and Atmospheric Administration (NOAA) demonstrated an 8.2% annual increase in incidences across the Midwest portion of the country. Thus, both public and private organizations are proactively supporting the expansion of this sector through financial backing and extensive exploration. For instance, in 2023 alone, net expenditure on this category by Medicare reached $1.2 billion. Besides, a 30.4% rise in investments from the BARDA till 2023 also complements rapid adoption of AI diagnostics.

Canada represents a consistent growth in the blastomycosis market due to the enlarging patient pool and prompt endemic response from the Federal government. In this regard, the Public Health Agency of Canada (PHAC) revealed that the yearly nationwide climate-related cases doubled from 2010 to 2024, surpassing 1,503. Additionally, the substantial provincial investments, including an 18.1% spending increase by the governing body of Ontario from 2021 to 2024, are also propelling the outstretch of its territory. On the other hand, 25.4% adoption growth in telehealth services in 2023 is improving access to advanced diagnosis and treatment from this sector, as per the Canadian Institute for Health Information (CIHI).

APAC Market Insights

Asia Pacific is poised to emerge as the fastest-growing region in the global blastomycosis market over the analyzed tenure. The contribution of ongoing demographic and healthcare trends to the landscape is highly influential. In this regard, the MHLW revealed that Japan leads the region's propagation in this sector with a sophisticated medical system, dedicating 12.4% of its fungal infection budget to blastomycosis treatment in 2024. Besides, in 2023, South Korea and Malaysia demonstrated rapid 10.4% annual progress through telemedicine adoption and climate-driven incidences, as reported by the WHO. Moreover, the growing at-risk populations, urbanization, and diagnostic advancements position APAC for sustained market acceleration.

China commands a 45.4% revenue share of the APAC market on account of its large patient population and remarkable manufacturing capabilities. The regulatory support toward innovation, where the National Medical Products Administration (NMPA) approved a significant number of advanced rapid PCR tests, is also fueling the regional leadership. Furthermore, the country's dual role as both a major API exporter and domestic production hub is consolidating its significance in this landscape. This can also be exemplified by the nation being the sole source of 70.2% of antifungal ingredient supply in India till 2024, as per the International Trade Commission (ITC).

India is emerging as a key growth propeller for the APAC blastomycosis market, backed by rapid urbanization and continuous efforts to bridge historical diagnostic gaps. The government's contribution to this cohort is also significant, where the Ayushman Bharat scheme provides financial backing for more than 500.4 million beneficiaries, according to a report from the ICMR. This is ultimately improving treatment access by reducing out-of-pocket costs for eligible patients. In addition, the nation's domestic API manufacturers are strengthening supply chain resilience in this field, supporting both local needs and regional demand.

Country-wise Government Investments & Policies

Country

Government Investment /Policy

Budget / Funding

Japan

METI’s Pharma Vision 2030 (API localization)

$1.3 billion (tax incentives)(2023)

Australia

CSL Limited’s plasma therapy R&D (NHMRC funding)

$150.3 million (2022)

South Korea

Biosimilar 2.0 initiative (antifungal development)

$50.2 million (2024)

Malaysia

Public-private partnerships for PCR test manufacturing

$20.3 million (JICA co-funding) (2025)

Europe Market Insights

The blastomycosis market in Europe is growing steadily and is projected to capture the second-highest revenue share between 2025 and 2034. This is primarily led by its advanced medical system and strong financial backing for extensive research. For instance, in 2024, the European Health Data Space (EHDS) allocated €2.6 billion in investment in fungal infection-related R&D. The streamlined drug approvals by the European Medicines Agency (EMA), which were fastened by a 6-month timeline, are also benefiting this landscape. Furthermore, the sustainable demand due to an enlarging patient pool is also creating a surge in this sector, where changes in climate drove a 15.2% increase in incidences in Southern Europe from 2020 to 2024.

Germany dominates the Europe blastomycosis market with 30.4% of regional spending, as reported by the European Commission (EC). On the other hand, in 2023, the mandatory 30.3% discounts on itraconazole enhanced patient access in this sector, under the guidelines of the European Centre for Disease Prevention and Control (ECDC). The associated incidences are also rising in this country by 40.2% from 2018, accounting for an annual 1,202 cases, as reported by the Robert Koch Institute (RKI). This demographic expansion can also be indicated by the presence of an enlarging immunocompromised population.

The UK is driving the blastomycosis market in Europe with the expanding coverage for financial backing and pharmaceutical innovations. For instance, in 2024, the National Health Service (NHS) extended its insurance coverage to 500,003 patients and allocated £1.6 billion in funding to dedicated medical care. It reflects the country's efforts to improve access to advanced diagnosis and treatment, which is positioning it as a pivotal but cost-conscious asset for the regional marketplace. Moreover, the government's tendency towards centralized purchasing and delivering value-based care is garnering lucrative business opportunities and a large consumer base for this merchandise.

Government Investments & Policies

Country

Policy/Budget Initiative

Funding (Million)

France

National Rare Disease Plan (Blastomycosis inclusion)

€12.3 (2023-2025)

Spain

ISCIII Research Grants for Neglected Mycoses

€8.1 (2022-2024)

Italy

AIFA Reimbursement Expansion for Antifungals

€6.6 (2024-2026)

Russia

State-funded Vaccine Development (Blastomycosis)

~€3.2 (2025)

Blastomycosis Market share
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Key Blastomycosis Market Players:

    The blastomycosis market is highly concentrated, with Pfizer, Novartis, and Abbott collectively controlling over 45.2% revenue share through diversified growth strategies. These pioneers are aggressively investing in R&D, where Novartis and F2G are focused on advancing Phase III antifungals. Simultaneously, they are pursuing strategic diagnostic partnerships to leverage patient access and adoption. This can be exemplified by the collaboration of Abbott and Roche, aiming for maximum deployment of AI-powered PCR tests across EU hospitals. On the other hand, key players in emerging landscapes, such as Cipla and Sun Pharma, are countering with cost-focused approaches.

    Such key pioneers are:

    Company Name

    Country

    Market Share (2024)

    Industry Focus

    Pfizer Inc.

    U.S.

    18.1%

    Leading antifungal drug developer (Itraconazole, Amphotericin B formulations)

    Novartis AG

    Switzerland

    15.5%

    PCR diagnostics & next-gen antifungals (Olorofim in Phase III)

    Abbott Laboratories

    U.S.

    12.3%

    Rapid diagnostic kits (PCR, antigen tests)

    F2G Ltd

    UK

    9.1%

    Orphan antifungal drugs (FDA/EMA-approved)

    Merck & Co.

    U.S.

    5.3%

    Broad-spectrum antifungals (Partnerships with CDC)

    BioMérieux

    France

    xx%

    Culture-based diagnostics & serology tests

    Cipla Ltd

    India

    xx%

    Affordable generics (Itraconazole APIs)

    Lupin Pharmaceuticals

    India

    xx%

    Generic antifungals for emerging markets

    GlaxoSmithKline (GSK)

    UK

    xx%

    Vaccine research (Preclinical blastomycosis candidates)

    Sanofi

    France

    xx%

    Antifungal drug delivery systems (IV formulations)

    Roche Diagnostics

    Switzerland

    xx%

    PCR-based blastomycosis test kits

    Thermo Fisher Scientific

    U.S.

    xx%

    Lab equipment & reagents for fungal testing

    Sun Pharmaceutical Industries

    India

    xx%

    Cost-effective antifungals (Ayushman Bharat supplier)

    CSL Limited

    Australia

    xx%

    Plasma-derived therapies for severe cases

    Celltrion Healthcare

    South Korea

    xx%

    Biosimilars & biologic antifungals

    Hikma Pharmaceuticals

    UK

    xx%

    Hospital injectables (Amphotericin B generics)

    Pharmaniaga Berhad

    Malaysia

    xx%

    Localized antifungal production for ASEAN markets

    Below are the areas covered for each company in the blastomycosis market:

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis

Recent Developments

  • In March 2024, Abbott launched BlastoDetect PCR Kit, revolutionizing blastomycosis diagnosis by delivering results in just 2 hours compared to traditional 7–14-day culture methods. The rapid test has been adopted by over 202 U.S. hospitals, significantly reducing misdiagnosis rates by 25.1%.
  • In January 2024, Pfizer introduced its next-generation Liposomal Amphotericin B, featuring a lipid-based formulation that reduces nephrotoxicity by 35.2% compared to conventional treatments. The product captured an 8.4% market share increase in North America during the 1st quarter of 2024.
  • Report ID: 7873
  • Published Date: Jul 08, 2025
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of the blastomycosis market was over USD 125.7 million.

The market size for the blastomycosis market is projected to reach USD 211.1 million by the end of 2034, expanding at a CAGR of 5.6% during the forecast period, i.e., between 2025-2034.

The major players in the market are Pfizer Inc., Novartis AG, Abbott Laboratories, F2G Ltd, Merck & Co., BioMérieux, and others.

In terms of diagnosis, the PCR testing segment is anticipated to garner the largest market share of 28.5% by 2034 and display lucrative growth opportunities during 2025-2034.

The market in North America is projected to hold the largest market share of 65.2% by the end of 2034 and provide more business opportunities in the future.
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