Antifungal Drugs Market Size, Share & Trends Analysis Report By Drug Class (Azoles, Polyenes), By Indication (Dermatophytosis, Aspergillosis), By Dosage Form, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the antifungal drugs market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for antifungal drugs market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of antifungal drugs market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Antifungal Drugs Market Categorization:

The antifungal drugs market was categorized into five segments, namely drug class (Azoles, Echinocandins, Polyenes, Allylamines), indication (Dermatophytosis, Aspergillosis, Candidiasis), dosage form (Oral Drugs, Ointments, Powders), distribution channel (Hospital Pharmacies, Retails Pharmacies), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The antifungal drugs market was segmented into drug class, indication, dosage form, distribution channel, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The antifungal drugs market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-two countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; and Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Antifungal drugs market companies & financials:

The antifungal drugs market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include: 

• MINAPHARM Pharmaceuticals, based in Egypt, has a wide portfolio of broad-spectrum medications ranging from complex bioengineered proteins to small molecules. Its presence in developing economies has shifted its focus toward providing high-value biologics. Furthermore, the company operates in cellular engineering, which allows it to cater to developed economies. The company has partnerships with over 10 companies globally, which includes pharma giants such as Abbott, GSK, and Novartis.

• Enzon Pharmaceuticals, Inc. is a biopharmaceutical company with a primary focus on the U.S. and European markets. The company is focused on becoming an acquisition platform and its revenue is derived from royalties & licensing agreements. Its licensed products include PegIntron and Sylatron for treating hepatitis C and melanoma.

• Astellas Pharma, Inc. is engaged in the import/export, manufacturing, and marketing of pharmaceuticals. The company has products in the following segments: oncology, neurology, urology, nephrology, immunology, and women's health treatments. Its key products include XTANDI, XOSPATA, PADCEV, Evrenzo, and Prograf. It has extensive business in Japan and is highly focused on the R&D of new products.

• GSK plc develops, manufactures, and markets medicines, vaccines, & consumer healthcare products. In 2000, Glaxo Wellcome and SmithKline Beecham merged to form GlaxoSmithKline. Its business is segmented into pharmaceuticals, vaccines, and consumer healthcare segments. It has a presence in 95 markets, the majority of which are emerging economies.

• Glenmark Pharmaceuticals Limited, headquartered in India, has segmented its business mainly into formulations and APIs. The company is making steady progress in oncology, dermatology, and respiratory therapeutic segments. It has 14 manufacturing facilities across 4 countries, along with 3 R&D centers. Glenmark has a presence in over 50 countries globally with a strong portfolio of generic pharmaceutical formulations.

• Bayer AG, a German company, operates through four segments: crop science, pharmaceuticals, animal science, and consumer health. Bayer develops and manufactures pharmaceuticals that focus on hematology, ophthalmology, specialty therapeutics of oncology cardiology, and women’s health. The Bayer Group has a presence in 90 countries globally, comprising 420 consolidated companies. It has production facilities in 34 countries at more than 130 sites.

• Abbott is a healthcare and pharmaceutical company operating in four core business segments: pharmaceuticals, medical devices, nutritional products, and diagnostics. The company has a presence in over 150 countries via its research, manufacturing, sales, and distribution facilities. In October 2011, Abbott Laboratories announced plans to split into two companies, one focused on research-based pharmaceuticals and the other on diversified medical products. The research-based company was named AbbVie, while the pharmaceutical company retained the name Abbott.

• Novartis operates through three business segments: Innovative medicine, Corporate, and Sandoz. The innovative medicine segment is further divided into pharmaceuticals and oncology. Key therapeutic areas of Novartis include cardiovascular, renal & metabolism, hepatology, musculoskeletal diseases, immunology & dermatology, neuroscience, respiratory, ophthalmology, renal/nephrology, oncology, and immuno-oncology. Novartis has a presence in over 140 countries globally.

• Pfizer, Inc. is engaged in the discovery, development, and manufacture of pharmaceutical products. It has a portfolio of vaccines and medicines. The company operates through two business segments: Essential Health (EH) and Innovative Health (IH). The EH segment comprises branded generics, biosimilars, infusion systems, generic sterile injectable products, and other legacy brands. The IH segment works to commercialize and develop medicines & vaccines. This segment operates through therapeutic segments: Internal medicine, immunology, consumer healthcare, oncology, inflammation, rare diseases, and vaccines. The company has 42 manufacturing facilities and operates in over 125 countries.

• Merck & Co., Inc. is a global healthcare company involved in the development, discovery, manufacture, and commercialization of prescription, branded, and over-the-counter vaccines, pharmaceuticals, and consumer care products for human & animal healthcare markets. The company offers healthcare solutions through vaccines, prescription medicines, biologic therapies, preventive & therapeutic agents, and animal health products. Some key customers include hospitals, government agencies, wholesalers & retailers, managed healthcare providers, and veterinarians.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Antifungal Drugs Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Antifungal Drugs Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.