Telemedicine Is Fastest Growing Segment Fueling The Growth Of The Global Candidiasis Market

 

Candidiasis Market

The global Candidiasis Market is estimated to be valued at US$ 984.80 Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Candidiasis refers to infections caused by yeasts of the genus Candida. Candida infections can appear in the mouth, throat, esophagus, vagina, or other parts of the body. Signs and symptoms depend on the specific site of infection. Treatment involves over-the-counter antifungal medication or prescription antifungal medication.

 

Market key trends:

One of the key trends in the candidiasis market is the rise in telemedicine. With the ongoing covid-19 pandemic, telemedicine emerged as an effective way for patients to consult doctors virtually and receive medical guidance without physically visiting hospitals and clinics. This reduced the risk of exposure to infections. Online consultations helped identify patients suffering from candidiasis and recommend appropriate treatment measures. The increased adoption of telemedicine solutions during the pandemic has highlighted its benefits and boosted its usage even in the post-pandemic period. This is expected to drive the growth of the candidiasis market during the forecast period.

 

Segment Analysis

 

The global candidiasis market is segmented based on drug type, indication, distribution channel, and region. By drug type, the market is divided into azoles, echinocandins, and others. The azoles segment accounts for the largest market share, owing to the high prescription rates of drugs such as fluconazole for oral and vaginal candidiasis. By indication, the market is classified into vulvovaginal candidiasis, oral candidiasis, cutaneous candidiasis, and others. Vulvovaginal candidiasis is the dominant segment due to the high prevalence of yeast infections, especially among women. By distribution channel, the market is bifurcated into hospital pharmacies and retail pharmacies & drug stores. Hospital pharmacies dominate the segment due to the high volume of candidiasis drug prescriptions in inpatient settings.

 

Key Takeaways

 

The Global Candidiasis Market Size is expected to witness high growth, exhibiting CAGR of 3.2% over the forecast period, due to increasing prevalence of chronic conditions requiring immunosuppressive therapy.

 

Regional analysis: North America accounts for the largest share of the global candidiasis market, followed by Europe. This is attributed to the rising incidence of fungal infections, growth in research activities, and availability of advanced treatment options in these regions. However, Asia Pacific is expected to exhibit the highest CAGR during the forecast period owing to growing patient awareness, increasing healthcare spending, and improving healthcare infrastructure in countries such as China and India.

 

Key players: Key players operating in the candidiasis market are Basilea Pharmaceutica Ltd, Astellas Pharma Inc., SCYNEXIS, Inc., NovaDigm Therapeutics, Mycovia Pharmaceuticals, Inc., Pfizer Inc, and Viatris Inc., among others. Astellas Pharma and Pfizer hold a major market share due to their branded drug portfolio and global commercialization footprint.

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https://www.newsstatix.com/candidiasis-market-size-share-growth-outlook-2023/

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