South Africa Antifungal Drugs Market Analysis

South Africa Antifungal Drugs Market Analysis


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South Africa Antifungal Drugs Market is at around $0.103 Bn in 2023 and is projected to reach $0.145 Bn in 2030, exhibiting a CAGR of 5.03% during the forecast period. The HIV/AIDS Epidemic, rising fungus infections, government initiatives, and healthcare spending are fueling the market's expansion. The market is dominated by key players like Aspen Pharmacare Holdings Limited, Abbott Laboratories, GlaxoSmithKline plc, Pfizer Inc., Merck & Co., Novartis AG, Astellas Pharma Inc., Sanofi S.A., Bayer AG, Glenmark Pharmaceuticals Limited, and Gilead Sciences Inc.

ID: IN10ZAPH004 CATEGORY: Pharmaceuticals GEOGRAPHY: South Africa AUTHOR: Aneri Parekh

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South Africa Antifungal Drugs Market Executive Summary

South Africa Antifungal Drugs Market is at around $0.103 Bn in 2023 and is projected to reach $0.145 Bn in 2030, exhibiting a CAGR of 5.03% during the forecast period.

The South African market for Antifungal drugs is dominated by products meant to fight fungal infections in the nation's healthcare system. This market includes a wide range of antifungal pharmaceuticals that treat a variety of fungal infections that are common in South Africa, such as topical creams, oral pills, and intravenous therapies. The dynamic environment of the South African healthcare market is influenced by various factors, including the increasing prevalence of fungal infections, progress in drug discovery, and rising healthcare costs.

The market for antifungal drugs in South Africa is expanding steadily due to a rise in the prevalence of fungal infections and a greater understanding of available treatments. To increase their market share, major firms are concentrating on developing innovative products and forming strategic alliances. Regulatory obstacles and pricing pressures, however, present difficulties for market expansion.

Sales of antifungal drugs brought in $15.8 Bn worldwide in 2023, and these drugs are now more stable and effective than ever. Significant investment has also been made in the antifungal drug sector, which has been essential to the sector's steady growth trend. Antifungal drugs are in great demand due to improved industrial innovation, productivity, and profitability.

With a 20% market share, Aspen is a significant player in the South African antifungal industry. Healthcare professionals generally have high regard for the company's products, which are also competitively priced. Isavuconazole, a novel antifungal medication, was introduced by Aspen in South Africa in 2023. A broad-spectrum antifungal called isavuconazole is used to treat several fungal illnesses, such as mucormycosis and aspergillosis. It is anticipated that Aspen's market share in the South African antifungal market will increase with the introduction of isavuconazole.

South Africa antifungal drugs market

Market Dynamics

Market Growth Drivers:

Growing Prevalence of Fungal Infections: The need for Antifungal medications is mostly driven by the growing incidence of fungal diseases in both immunocompromised and immunocompetent people.

HIV/AIDS Epidemic: The prevalence of HIV/AIDS is greatest in South Africa compared to other countries worldwide. Antifungal drugs are in high demand because HIV/AIDS impairs immunity and increases a person's vulnerability to opportunistic fungal infections.

Government Initiatives and Healthcare Investments: By enabling better distribution and cost of Antifungal medications, government activities focused on enhancing healthcare infrastructure, expanding access to necessary medications, and battling infectious diseases support market growth.

Market Restraints:

Misuse and Overuse of Antibiotics: When drug-resistant fungus strains emerge, treatment becomes more difficult and costly. Like many other nations, South Africa has problems with improper antibiotic prescribing methods, which can make the antifungal resistance issue worse.

Disruptions in the Pharmaceutical Supply Chain: The availability of antifungal medications in South Africa may be impacted by disruptions in the supply chain, which may be brought on by problems with regulations, transportation, or other reasons. Such interruptions could affect patient access and treatment continuity by causing shortages or price variations in pharmaceuticals.

Alternative Therapies and Traditional Medicine: In South Africa, alternative therapies and traditional healing methods are common. Some people may choose to use these methods in place of traditional antifungal medications. Achieving the best possible treatment results and maintaining adherence to recommended antifungal regimens may be difficult due to this cultural preference.

Healthcare Policies and Regulatory Landscape

SAHPRA, the South African Health Products Regulatory Authority, is the regulatory body in charge of approving pharmaceuticals in the nation. The applicant company created the product dossier, which is regarded as a legal contract that must be approved by the Medicines Control Council (MCC). The medicine's Certificate of Registration, which doubles as a sales permission, attests to this. Any modifications the business makes after registering require MCC approval. Timelines may be further prolonged because SAHPRA has fewer resources than wealthier nations.

Competitive Landscape

Key Players:

  • Aspen Pharmacare Holdings Limited
  • Abbott Laboratories
  • GlaxoSmithKline plc
  • Pfizer Inc.
  • Merck & Co., Inc.
  • Novartis AG
  • Astellas Pharma Inc.
  • Sanofi S.A.
  • Bayer AG
  • Glenmark Pharmaceuticals Limited
  • Gilead Sciences Inc.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

South Africa Antifungal Drugs Market Segmentation

By Drug Class

  • Azoles
  • Echinocandins
  • Polyenes
  • Allylamines
  • Others

By Drug Indication

  • Dermatophytosis
  • Aspergillosis
  • Candidiasis
  • Others

By Drug Dosage

  • Oral drugs
  • Ointments
  • Powders
  • Others

By Infection

  • Systemic Antifungal Infections
  • Superficial Antifungal Infections

By Drug Distribution

  • Hospital Pharmacies
  • Retail Pharmacies
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
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Last updated on: 28 February 2024
Updated by: Riya Doshi

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