Caspofungin Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Caspofungin Market Analysis
During the time period studied, the caspofungin market was expected to grow at a CAGR of 5.6%.
The COVID-19 pandemic messed up healthcare services all over the world because resources had to be moved to focus on preventing and treating COVID-19. The pandemic also impacted the global caspofungin market. For instance, an article published by the National Center for Biotechnology Information (NCBI) in July 2022 reported that the incidence of fungal co-infection in COVID-19 patients has been reported in the range from 3.2% to 69%, and the infection is higher among patients who have underlying hematological diseases. Caspofungin, an echinocandin antifungal agent, could be used to treat both COVID-19 patients with underlying hematological disease and patients with severe COVID-19. Thus, the COVID-19 pandemic increased the demand for caspofungin drugs. In the current scenario, due to the availability of other drugs for COVID-19 treatment, the demand for caspofungin drugs may stabilize compared to the beginning of the pandemic; however, due to the presence of various chronic diseases, the studied market is expected to witness significant growth.
The factors that are driving the growth of the studied market are the increasing global prevalence of chronic disorders like diabetes and cancer and the rising usage of caspofungin over other echinocandins. According to an article in the Journal of Clinical Drug Investigation from April 2021, people with solid tumors are more likely to get fungal infections that spread throughout the body, such as invasive candidiasis.So, antifungal drugs like caspofungin are often the best way to treat fungal infections in these people.Since more people are getting cancer, the number of people who need caspofungin is likely to go up.
In the same way, the GLOBOCAN 2020 report said that about 21.8 million people around the world are expected to have cancer in 2025.The number is estimated to rise to 30.2 million cases by 2040. Also, according to the International Diabetes Federation's Diabetes Atlas, Tenth Edition, for 2021, in 2021, around 537 million adults all over the world were found to have diabetes, with the numbers projected to grow to 643 million by 2030 and 783 million by 2045. The cancer patients receiving chemotherapy are immunocompromised and susceptible to a wide range of fungal infections, which are usually treated with caspofungin. Thus, the rising number of people affected by chronic diseases is expected to contribute to the growth of the caspofungin market over the forecast period.
Also, men who smoke and drink more are likely to get more fungal infections, which makes it important to find a good way to treat them.For example, a March 2022 article in the journal Frontiers in Public Health said that more than 1.5 million people around the world get fungal infections every year.Over the next few years, the global caspofungin market is likely to be driven by how common fungal infections are.
So, the studied market is expected to grow a lot over the next few years because diabetes and cancer are becoming more common around the world, and more people are using caspofungin instead of other echinocandins. However, the high costs associated with the patented products and the complications associated with caspofungin use like changes in skin color, difficult or troubled breathing, and swelling of the face, arms, hands, lower legs, or feet are expected to hinder market growth.
Caspofungin Market Trends
This section covers the major market trends shaping the Caspofungin Market according to our research experts:
Candidiasis Segment is Expected to Hold the Major Market Share in the Caspofungin Market
The candidiasis segment is expected to dominate the industry over the forecast period. The lucrative growth of the segment can be attributed to a rise in the prevalence of esophageal candidiasis among men and vaginal yeast infections among women. For example, according to an article published in the Asian Journal of Medical Sciences in October 2021, the prevalence of non-albicans candida was 08.89% in India and was gradually increasing.Similarly, an article published by Journal Metrics in August 2021 indicated that there had been an increase in the number of elderly people affected by oral candidiasis in Brazil. The rising prevalence of candidiasis infection around the world is expected to boost the growth of the studied market over the forecast period.
Also, approval of caspofungin as the first line of treatment for patients with invasive candidiasis who are resistant to other antifungal agents is expected to boost the growth of the market. As per the Infectious Diseases Society of America report, published in February 2020, Candida auris is multidrug-resistant and has emerged as a global health threat. Serious outbreaks of this C. auris can be treated with caspofungin. For example, the Centers for Disease Control and Prevention (CDC) stated in a July 2021 article on Candida auris that caspofungin (70 mg dose) can be used to treat C cruise infection in adults. Thus, increased use of caspofungin to treat various types of Candidiasis, such as intra-abdominal abscesses, peritonitis, and pleural space, in addition to diabetes, is expected to drive segment growth over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the global caspofungin market throughout the forecast period. This dominance is mainly due to rising incidences of vaginal, vulvovaginal, and fungal infections (candidiasis due to changes in lifestyles and a rise in stress. There is an increase in the incidence of candidemia and invasive aspergillosis due to the huge population of geriatrics in the United States. As per the Centers for Disease Control and Prevention (CDC) report published in February 2021, around one-third of patients with advanced HIV infection were affected by candidiasis in the mouth and throat. According to an article on vaginal candidiasis by the same source published in July 2022, an estimated 1.4 million outpatient visits for vaginal candidiasis occur in the United States annually. The region's high prevalence of candidiasis infection is expected to drive the growth of the studied market.
Also, a higher prescription of antibiotics and uncontrolled diabetes in the region are expected to fuel market growth. According to the National Diabetes Statistics Report updated in January 2022, around 37.3 million people in the United States have diabetes, which equates to around 11.3% of the total population. Also, the report stated that around 96 million people aged 18 or older in the United States have prediabetes. The caspofungin derivative products like micafungin may contribute to hypoglycemia in patients, thereby preventing diabetes and thus contributing to the studied market's growth.
Thus, the above-mentioned factors are expected to drive the growth of the studied market.
Caspofungin Industry Overview
The global caspofungin market is moderately competitive and consists of several major players. Some prominent players in the market are implementing various strategies, such as launching new products and making acquisitions, to consolidate their market positions across the globe. Some of the companies that are currently dominating the market are Fresenius SE & Co. KGaA (Fresenius Kabi), Alvogen Inc., Juno Pharmaceuticals, Cipla Inc., Merck & Co., Inc., Athenex, Inc., Sanofi S.A., Stanex Drugs and Private Limited, Gland Pharma Limited, and Sun Pharmaceutical Industries Ltd.
Caspofungin Market Leaders
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Cipla Inc.
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Fresenius SE & Co. KGaA (Fresenius Kabi)
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Merck & Co., Inc.
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Athenex, Inc.
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Juno Pharmaceuticals
*Disclaimer: Major Players sorted in no particular order
Caspofungin Market News
- July 2022: Cidara Therapeutics, Inc. submitted a New Drug Application (NDA) to the United States Food and Drug Administration (FDA) for rezafungin for the treatment of candidemia and invasive candidiasis.
- April 2022: Mundipharma and Cidara Therapeutics, Inc. published the data from the Phase 3 ReSTORE clinical trial of rezafungin in the treatment of candidemia and/or invasive candidiasis, which demonstrated a positive efficacy and safety profile of rezafungin.
Caspofungin Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Global Prevalence of Chronic Disorders like Diabetes and Cancer
4.2.2 Rising Usage of Caspofungin over other Echinocandins
4.3 Market Restraints
4.3.1 Highly Expensive Patented Products
4.3.2 Severe Complications like Stevens-Johnson Syndrome (SJS) Associated with the Medication
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD Millions)
5.1 By Indication
5.1.1 Candidiasis
5.1.2 Thrush
5.1.3 Other Indications
5.2 By Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.2.3 Online Pharmacies
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Fresenius SE & Co. KGaA (Fresenius Kabi)
6.1.2 Alvogen Inc.
6.1.3 Juno Pharmaceuticals
6.1.4 Cipla Inc.
6.1.5 Merck & Co., Inc.
6.1.6 Athenex, Inc.
6.1.7 Sanofi S.A.
6.1.8 Stanex Drugs and Private Limited
6.1.9 Gland Pharma Limited
6.1.10 Sun Pharmaceutical Industries Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Caspofungin Industry Segmentation
As per the scope of this report, caspofungin belongs to the echinocandin class of antifungal drugs. The drug inhibits 1,3--glucan synthase, an enzyme required for the synthesis of -glucan in the fungal cell wall. Thus, by disrupting the cell wall integrity, the drug exhibits its antifungal activity. It is available as an intravenous infusion and is used to treat Candida and Aspergillus species infections once a day. The caspofungin market is segmented by indication (Candidiasis, Thrush, and Other Indications), distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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| Candidiasis | |
| Thrush | |
| Other Indications |
| By Distribution Channel | |
| Hospital Pharmacies | |
| Retail Pharmacies | |
| Online Pharmacies |
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Caspofungin Market Research FAQs
What is the current Global Caspofungin Market size?
The Global Caspofungin Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Global Caspofungin Market?
Cipla Inc., Fresenius SE & Co. KGaA (Fresenius Kabi), Merck & Co., Inc., Athenex, Inc. and Juno Pharmaceuticals are the major companies operating in the Global Caspofungin Market.
Which is the fastest growing region in Global Caspofungin Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Caspofungin Market?
In 2024, the North America accounts for the largest market share in Global Caspofungin Market.
What years does this Global Caspofungin Market cover?
The report covers the Global Caspofungin Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Caspofungin Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Caspofungin Industry Report
Statistics for the 2024 Global Caspofungin market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Caspofungin analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
