The global ergosterol synthesis inhibitors market is estimated to garner a notable CAGR over the forecast period, i.e., 2021–2030. The growth of the market can be attributed to the increasing prevalence of fungal infections, especially in the tropical and sub-tropical regions in the world. Ergosterol is a compound present in the walls of fungal cells, which is essential for the viability of all fungi. Ergosterol synthesis inhibitors hamper the biosynthesis of this compound, which kills the fungi colony, therefore treating the infection. The demand for ergosterol synthesis inhibitors is estimated to grow on the back of its efficiency in alleviating fungal infections, including jock itch, ringworm, yeast infection, and dandruff. Moreover, lack of proper sanitization facilities and cleanliness in major parts of the world, is further expected to boost the market growth. According to the data by the World Health Organization (WHO), 2.0 billion people around the globe did not have basic sanitation facilities, in 2017, with 673 million people defecating in open.
The global ergosterol synthesis inhibitors market is segmented by route of administration into topical, oral, and others, out of which, the topical segment is anticipated to hold the largest share in the market during the forecast period on account of ease of application, and higher effectiveness, as it directly targets the infection. On the basis of end-user, the market is segmented into pharmacy, hospital, and others. Out of these, the pharmacy segment is estimated to hold a notable share over the forecast period owing to the growing demand for over-the-counter inhibitors to cure fungal infections. CLICK TO DOWNLOAD SAMPLE REPORT
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global ergosterol synthesis inhibitors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to garner largest share over the forecast period on the back of rising prevalence of fungal infections, in tropical countries, such as, Indonesia, Thailand, and India. India witnessed 5 to 10 cases of fungal infection per 1,000 individuals, in 2019. The share in Thailand amounted 12-15 cases per 1000 individuals. Moreover, growing medical infrastructure and improving public healthcare system, backed by economic growth in the region, is estimated to boost the market growth. The market in the Latin America region is estimated to witness noteworthy growth over the forecast period, owing to the rising incidences of infections backed by the climatic conditions favorable for fungal infections, along with unavailability of proper sanitization and cleanliness is estimated to boost the market growth.
The global ergosterol synthesis inhibitors market is further classified on the basis of region as follows:
Our in-depth analysis of the global ergosterol synthesis inhibitors market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Recurring seasonal prevalence of influenza, coupled with government initiatives to curb the outbreak of influenza is estimated to drive the market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021-2030.
Various risks and side effects associated with the inhibitors are estimated to hamper the market growth.
The market in the Asia Pacific is estimated to provide most growth opportunities owing to the rising cases of fungal infection, and improving public healthcare system.
The major players in the market are Pfizer Inc., Novartis AG, Kramer Laboratories, Inc., Abbott Laboratories, Bayer AG, GlaxoSmithKline plc, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by drug type, route of administration, end-user, and by region.
The topical segment is anticipated to hold largest market size over the forecast period owing to the ease of application and effectiveness of the ointment.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization