Cryptococcosis Market Projected to Reach $7 Billion by 2027
Cryptococcosis Market: Introduction
- Transparency Market Research has published a new report titled, “Global Cryptococcosis Market”. According to the report, the global cryptococcosis market was valued at US$ 4.7 Bn in 2018 and is projected to expand at a CAGR of 4.3% from 2019 to 2027.
- Rise in reported cases of cryptococcosis, increase in research & developmental activities, surge in awareness, and rise in co-morbidities & risk factors boost the growth of the global cryptococcosis market
Pharmacotherapies using Drugs to Account for Leading Share of Global Market
- In terms of treatment type, the drugs segment accounted for major share of the global cryptococcosis market in 2018. The segment is anticipated to witness strong growth from 2019 to 2027.
- The drugs segment has been further categorized into Amphotericin B, Flucytosine, Fluconazole, and other antifungals. Amphotericin B drugs are further classified into Amphocin, Fungizone and other products. While Flucytosine drugs are further segmented into Ancobon and other products. Fluconazole includes Diflucan and other products. Among drug types, Flucytosine was the largest segment of the global cryptococcosis market in terms of revenue in 2018, driven by its increasing adoption in U.S. market along with high price of drugs. Amphotericin B and Fluconazole are projected to be lucrative segments of cryptococcosis market, which is attributed to increasing cryptococcosis prevalence in African countries.
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Retail Pharmacies Segment to Account for Significant Market Share
- Based on distribution channel, the global cryptococcosis market is segmented as hospital pharmacies, retail pharmacies, drug store, and mail order pharmacies. Retail pharmacy was the largest segment of the global market in terms of revenue in 2018 and is expected to continue its dominance by 2027, which is attributed to the increasing contribution of long term medication required for cryptococcosis treatment.
- Patients discharged from hospitals or diagnostic clinics with fungal infection treatment plan to use medication on a regular basis, prefer retail pharmacy purchase. Retail pharmacies located nearby are the most preferred buying options for patients with long term drug dosage. Retail pharmacies are followed by mail order pharmacies which accounted for second largest share of global market in 2018. Rising preference for online sales for healthcare products in most of the regions of the world is the key factor that boost the demand for online pharmacies. Also, the segment is expected to register rapid growth due to increasing popularity, especially among developed countries such as the U.S., Germany and the U.K. Hospital pharmacies are the third leading segment for global cryptococcosis market.
Global Cryptococcosis Market: Prominent Regions
- North America held the largest share of the global cryptococcosis market in 2018. The market in the region is projected to grow at a rapid pace during the forecast period, driven by presence of key players, technological advancements, and highly structured health care industry.
- North America is projected to continue its dominance in the global cryptococcosis market, by 2027, which is attributed to rising HIV infected population, highly structured health care industry, and well-defined reimbursement policies from public and private health insurance firms. The cryptococcosis market in Middle East & Africa is projected to have a substantial growth with contribution of Sub-Sahara African countries where burden of HIV is very high. North America and Middle East & Africa are projected to be the most lucrative regions for cryptococcosis market, while Europe, Asia Pacific, and Latin America are relatively smaller markets.
Global Cryptococcosis Market: Key Players
- Key players in the global cryptococcosis market focus on strengthening their positions in the global market
- Major players operating in the global cryptococcosis market include Bristol-Myers Squibb Company, Janssen Biotech, Inc. (Johnson & Johnson), Abbott Laboratories, Novartis AG, Pfizer, Inc., Valeant Pharmaceuticals, Inc., Glenmark Pharmaceuticals and Sigmapharm Laboratories LLC.
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