LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global antifungal drugs market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Sapna Jha, a lead analyst at Technavio for infectious and rare diseases research, “The global antifungal drugs market is expected to grow at a moderate rate during the forecast period due to factors such as unhygienic living conditions, increased awareness about fungal infections, and a rise in prevalence of fungal infections.”
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The top three emerging market trends driving the global antifungal drugs market according to Technavio research analysts are:
- Increased funding for antifungal research
- Increased focus on combination therapies
- Incorporation of novel technology for product development
Increased funding for antifungal research
The increase in the number of infection is creating an unmet medical need in the market, which has driven various government and non-governmental institutes to take initiatives for the development of antifungal drugs by providing the necessary funding to the research institutes and companies. For instance, in December 2016, the US president signed the 21st Century Cures Act into law, which provides new incentives for developing novel drugs and biologics. Similarly, the UK government had provided an amount of around USD 2.55 million as funding to research antifungal drugs in 2009.
“Such funding encourages research institutes and companies to invest more in the antifungal research thus fulfilling unmet needs and leading to growth in the market,” says Sapna.
Increased focus on combination therapies
A current trend witnessed in the global antifungal drugs market is the use of combination therapies for treating fungal infections. It has been observed that a combination of systemic and topical treatment increases the cure rate when compared to the single therapy. For instance, a combination of oral terbinafine and amorolfine nail lacquer is the most commonly used combination therapy. It has shown favorable efficacy and is more cost-effective as compared with terbinafine alone.
At times the combination of systemic, topical therapies and surgery are also used in treatment. Sometimes non-pharmacological approaches such as laser treatment or mechanical treatment are also used in combination with topical and systemic therapy which is expected to have a positive impact on the growth of the market.
Incorporation of novel technology for product development
The incorporation of novel technologies in the development of products for the treatment of fungal infections is one of the upcoming trends in the market. For instance, the development of Onmel by Merz Pharmaceuticals containing the active ingredient itraconazole came about by using the Meltrex technology of Abbott. The use of this technology makes the drug more effective by allowing the otherwise poorly soluble drugs to be more bioavailable in an anti-fungal tablet. Thus, the use of new technologies for the development and delivery of the drugs helps in increasing their efficacy, thereby providing better treatment options.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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