The Global Oropharyngeal Candidiasis Market Growth is driven by increasing geriatric population

Author : naufan cmi | Published On : 28 Mar 2024

The Global Oropharyngeal Candidiasis Market consists of products such as Nystatin, Miconazole, Clotrimazole, and Fluconazole that are used for the treatment of oral thrush infection caused by Candida species of yeast. Oropharyngeal candidiasis, commonly known as oral thrush, is a fungal infection that grows in the mouth and throat due to an overgrowth of yeast called Candida. This yeast lives naturally in the mouth and digestive tract without causing any issues. However, when the balance of microorganisms changes and Candida starts overgrowing, it can lead to oral thrush. Risk factors like antibiotic usage, dentures, HIV/AIDS, and diabetes can promote the overgrowth leading to oral thrush infection symptoms such as irritation and white patches in mouth.

The Global Oropharyngeal Candidiasis Market is estimated to be valued at US$ 456 MN in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in The Global Oropharyngeal Candidiasis Market are Bayer AG, Teva Pharmaceuticals, Stellar Pharma, Pfizer, Wockhardt, Ranbaxy Laboratories, Bristol Laboratories, Glenmark Pharmaceuticals Ltd, and GlaxoSmithKline. Key players are focusing on new drug developments and product launches to expand their product portfolios. For instance, in 2022, Teva Pharmaceuticals received FDA approval for Miconazole mucoadhesive buccal tablets, a new drug product for treating oropharyngeal candidiasis.

The demand for oropharyngeal candidiasis drugs is growing due to the increasing prevalence of risk factors like HIV/AIDS, diabetes, and antibiotic use. As per UNAIDS estimates, around 38 million people were living with HIV globally in 2021. Diabetes is also on the rise with around 537 million adults estimated to be living with diabetes worldwide in 2021. This growing patient pool is expected to drive market growth during the forecast period.

Oropharyngeal candidiasis drug manufacturers are expanding their business globally, especially in developing countries, to tap the business opportunities. For instance, in 2021, Wockhardt acquired 51% stake in a Tunisian pharmaceutical company to strengthen its business in North Africa and French-speaking Western African countries.

Market drivers
The rising geriatric population is a key driver contributing to the growth of the Global Oropharyngeal Candidiasis Market. Older adults above 65 years of age are more prone to oral diseases and conditions like oral thrush due to a weaker immune system and chronic illnesses. According to the United Nations report, the global population aged 65 years or over is projected to grow from 727 million in 2020 to 1.5 billion in 2050, which will drive the demand for oropharyngeal candidiasis drugs.

Geopolitical Impact on the Global Oropharyngeal Candidiasis Market Growth

The oropharyngeal candidiasis market growth is highly influenced by the ongoing geopolitical instabilities across various regions. The rising political tensions and conflicts have negatively impacted the trade relations, supply chain management, and economic conditions of many countries. This in turn is restricting the financial ability of patients to purchase expensive antifungal drugs for treating oral thrush infections. The healthcare resources of many developing nations are also getting diverted to deal with emergencies arising out of geopolitical issues. This is limiting the priority and funds available for managing chronic conditions like oropharyngeal candidiasis.

The market players need to closely monitor the geopolitical developments and accordingly devise strategies to minimize disruptions. Dual sourcing of raw materials, establishing manufacturing facilities in politically stable countries, and developing strong distribution networks can help sustain steady supply of drugs. Partnerships with local pharma companies and aid agencies working in conflict areas can aid in ensuring continuous availability and affordability of antifungal medications. Adopting flexible pricing tailored to individual country scenarios can boost volume growth. Overall, geopolitical stability globally is critical for the sustained growth of the oropharyngeal candidiasis market in the forecast period.

Geographical Regions with High Market Concentration

North America represents the largest regional market for oropharyngeal candidiasis, accounting for over 35% share in terms of value. This is attributed to the rising healthcare spending, growing prevalence of conditions causing oral candidiasis like HIV/AIDS, and availability of advanced diagnostic methods and treatment options in countries like the US and Canada. The market is witnessing significant expansion particularly in developed nations of Western Europe as well where candida infections are commonly seen in critically ill and immunosuppressed patients.

Fastest Growing Region

Asia Pacific region is poised to showcase fastest growth in the global oropharyngeal candidiasis market during the forecast years. This is owing to increasing spending on healthcare, growing awareness about oral diseases, rising geriatric population susceptible to oral thrush, and improving access to diagnosis and treatment in highly populated nations like India and China. Additionally, the rapid economic development witnessed in various Asian countries is propelling the demand for premium antifungal drugs to manage oropharyngeal candidiasis.

Get More Insights On Global Oropharyngeal Candidiasis Market