Blastomycosis Market to Reach USD 257.7 Million, Globally, by 2031 at 3.8% CAGR, Says Allied Market Research
Rise in diagnostic procedures such as biopsies to detect fungal infection, increase in bone marrow & organ transplantation procedures, surge in the trend of camping in forests, and favorable government funds to combat antifungal diseases drive the growth of the global blastomycosis market.
PORTLAND, Ore., Dec. 5, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Blastomycosis Market by Formulation (Tablets, Ointment, Powder, Liquid), by Drug Type (Azoles, Polyenes, Others), by Distribution Channel (Hospital and Clinical Pharmacy, Online Pharmacy, Retail Pharmacy): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global blastomycosis industry was estimated at $177.2 million in 2021, and is anticipated to hit $257.7 million by 2031, registering a CAGR of 3.8% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chains, competitive scenarios, and regional landscapes.
Determinants of growth:
Rise in diagnostic procedures such as biopsies to detect fungal infection, increase in bone marrow & organ transplantation procedures, and surge in the trend of camping in forests, and favorable government funds to combat antifungal diseases drive the growth of the global blastomycosis market. On the other hand, unfavorable reimbursements as well as complications such as the presence of counterfeit drugs and side effects of blastomycosis drugs restrain the growth to some extent. However, unmet medical demands in developing countries and lucrative opportunities in emerging economies have been beneficial for the industry.
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Covid-19 scenario-
- The majority of medical colleges and hospitals were restructured to cater to the Covid-19 patients during the pandemic, which impacted the global blastomycosis market negatively.
- However, as the lockdown relaxations started peeping in, the chances of spreading fungal infection also increased. That's how the market gradually got back on track.
The azoles segment to maintain the lion's share-
By drug type, the azoles segment contributed to the major share in 2021, holding nearly two-fifths of the global blastomycosis market revenue. The same segment would also portray the fastest CAGR of 4.1% during the forecast period. Rise in the number of fungal infections such as blastomycosis, candidiasis, and immunological disease and increase in awareness regarding the use of azole drugs for the treatment of blastomycosis drive the segment growth.
The hospital and clinical pharmacy segment to rule the roost-
By distribution channel, the hospital and clinical pharmacy segment garnered more than two-fifths of the global blastomycosis market share in 2021, and is expected to rule the roost by 2031. Rise in demand for precise drugs according to the status of blastomycosis and growing preference toward consultation regarding the dosage of blastomycosis medicine fuel the segment growth. The online pharmacy segment, on the other hand, would manifest the fastest CAGR of 4.2% throughout the forecast period. This is due to increase in discounted rates for patients, rise in convenience shopping, and surge in availability of a wide range of options for purchasing medicine.
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The liquid segment held the major share in 2021-
By formulation, the liquid segment accounted for more than two-fifths of the global blastomycosis market revenue in 2021, and would maintain the lion's share by 2031. The same segment would also display the fastest CAGR of 4.3% from 2022 to 2031. This is owing to high adoption of liquid formulations for the treatment of blastomycosis fungal infection and surge in the prevalence of fungal infection among individuals across the world.
North America grabbed the highest share-
By region, the blastomycosis market across North America contributed to more than three-fifths of the global share, and is expected to retain its dominance by 2031. Rise in the number of fungal infection cases and the presence of key players across the region drive the market growth. The LAMEA region, simultaneously, would cite the fastest CAGR of 4.9% from 2022 to 2031. This is attributed to increase in population, rise in the prevalence of immunological diseases such as tuberculosis and HIV diseases, and surge in awareness concerning the use of azoles for the treatment of blastomycosis across the province.
Key players in the industry-
- AERCON AAC
- Aerix Industries
- Acico
- Cellular Concrete Inc.
- Cematrix
- Litebuilt Inc.
- Aircrete Europe
- SOLBET
- Xella Group
- Bauroc
The report analyzes these key players in the global blastomycosis market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
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