Caspofungin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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

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.

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• The market estimate (ME) sheet in Excel format
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