Global Caspofungin Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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“Global Caspofungin Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global caspofungin market report has been segmented on the basis of indication, distribution channel, and region.
Global Caspofungin Market: Overview
Caspofungin is sold under the brand name of Cancidas globally. It is an antifungal drug belonging to the first of a new class of antifungal drugs. Caspofungin belongs to a drugs class known as echinocandins. It functions by obstructing the enzyme 1→3-β-D-glucan synthase and thus disturbing the integrity of the fungal cell wall. Caspofungin is usually administered via the intravenous route of administration. Caspofungin is used to treat a wide range of fungal infections. It works by stopping the growth of fungi. In 2001, Caspofungin acetate for injection was approved by the European Medicines Agency and Food and Drug Administration in Europe.
Global Caspofungin Market: Dynamics
Increasing incidences of invasive candidiasis which is an infection caused by yeast is a key factor expected to drive market growth to a significant extent growth in terms of revenue. In addition, rising incidences of chronic diseases, growing consciousness about health among individuals, an increasing number of geriatric population worldwide, growing awareness regarding advantages of echinocandins drugs over other types of antifungal drugs are some of the other factors expected to factors driving the growth of the global caspofungin market. However, the availability of generic drugs and substitute product are some of the major factors expected to restraint growth of the global market to a certain extent.
Global Caspofungin Market: Segment Analysis
Among the distribution channel segments, retail pharmacies are projected to register the highest market share over the forecast years. This is primarily due to, developing medical infrastructure and continuously expanding the retail sector. In addition, the online pharmacies are projected to register the highest CAGR over the next ten years. This is attributed to, the gradual shift from unorganized pharmacies towards modern online pharmacy and increasing internet penetration in developing countries.
Global Caspofungin Market: Trends
Key players are focusing on developing and launching generic forms of caspofungin and getting regulatory bodies approvals, is the current trend observed in the target market.
For instance, In January 2018, three companies namely; Gland Pharma Ltd., Fresenius Kabi USA, and Mylan Labs Ltd. has been granted approval by the FDA to manufacture generic versions of caspofungin, since the Merck’s patent for caspofungin expired in March 2017.
In September 2017, Fresenius Kabi, which is Germany-based healthcare company launched caspofungin Acetate injection in two presentations namely; 50mg per vial and 70mg per vial in the US for treatment of fungal infections indicated in adults and pediatric patients.
Global Caspofungin Market: Regional Analysis
The market in North America expected to projected to account for significantly high revenue share followed by the market in Europe. This is primarily due to, rising prevalence of fungal infections. In addition, higher investment and funding for carrying out research and development activities by the private and government organization. The market in the Asia Pacific is projected to register the fastest CAGR over the forthcoming years. This is primarily attributed to, rapidly improving health care facilities in countries such as South Korea, India, China, and Malaysia are some major factors for driving the growth of caspofungin market in the Asia Pacific region.
Global Caspofungin Market Segmentation:
Segmentation by indication:
Segmentation by distribution channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Merck & Co., Inc.
- Fresenius SE & Co. KGaA
- Gland Pharma Limited
- Xellia Pharmaceuticals ApS
- Novartis AG
- Rus Biopharm
- Chunghwa Chemical Synthesis & Biotech Co. Ltd.
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