Global Ergosterol Synthesis Inhibitors Market Highlights over 2020-2030
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
Major Macro-Economic Indicators Impacting the Market Growth
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.
Global Ergosterol Synthesis Inhibitors Market Regional Synopsis
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:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global ergosterol synthesis inhibitors market includes the following segments:
By Drug Type
- Fluconazole
- Miconazole
- Itraconazole
- Clotrimazole
- Others
By Route of Administration
- Topical
- Oral
- Others
By End-User
- Pharmacy
- Hospitals
- Others
Growth Drivers
- Increasing Prevalence of Fungal Infections
- Lack of Proper Sanitization in Developing Nations
Challenges
- Risk of Hepatotoxicity Caused by the Inhibitors
- Availability of Generic Drugs in the Market
Top Featured Companies Dominating the Market
- SCYNEXIS, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Pfizer Inc.
- Novartis AG
- Kramer Laboratories, Inc.
- Abbott Laboratories
- Bayer AG
- GlaxoSmithKline plc.
- Glenmark Pharmaceuticals Limited
- Merck & Co., Inc.
- Astellas Pharma Inc.
