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(January 12, 2018)
Oral thrush (oral candidiasis) is a medical condition in which the fungus, Candida albicans, over-grows on the lining of the mouth. The global oral thrush (oral candidiasis) market is growing with the sound pace. According to a recent study report published by the Market Research Future, global Oral Thrush Market is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a sound growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
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The major drivers will be the increasing prevalence of the invasive candidiasis, rising dental healthcare expenditures and growing awareness for the oral health. In 2017, according to the Centers for Disease Control and Prevention, around 46,000 cases of invasive candidiasis occur each year in the U.S. Moreover, according to the American Dental Association, the U.S. national dental expenditures rose from USD 114 billion in 2014 to USD 117.5 billion in 2015. It is estimated that the incidence of oral candidiasis increases with old age. Thus, the growing geriatric population will boost the market growth during the forecast period. Further, according to a report of the World Health Organization published in 2015, the geriatric population is expected to double and reach 2.1 billion by 2050. However, the market growth can be restricted by the low per capita healthcare expenditures within the middle and low income countries of the world. Alongside this, false diagnosis of the diseases also retrains the market growth during the forecast period.
Global Oral Thrush Market- Competitive Analysis
Characterized by the presence of several well-established and small players, the oral thrush market appears to be highly competitive and fragmented. International players are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
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Pfizer Inc. is one of the major players of the global oral thrush market. The company is headquartered in the U.S. and shares a repute of a leading research-based biopharmaceutical company. The company’s total revenue increased from USD 48,851 million in 2015 to USD 52,824 million in 2016. This was marked by the significant amount of its revenue being spent on the R&D. In 2016, the company spent 14.9% of its total revenue in research and development which made the company to improve its product portfolio and launch new product, strengthening its position in the market.
In August 2016, FDA approved Pfizer’s TROXYCA ER extended-release capsules CII for pain management.
In October 2016, Teva Pharmaceutical Industries Ltd. acquired Anda, Inc., a leading distributor of generic pharmaceuticals in the U.S., from Allergan plc.
In July 2017, Glenmark Pharmaceuticals was granted the final approval by the MHRA (Medicines and Healthcare products Regulatory Agency) for Maloff Protect which is an anti-malarial medication in the United Kingdom.
Bayer AG, Teva Pharmaceuticals, Stellar Pharma, Pfizer Inc., Wockhardt Ltd., Ranbaxy Laboratories Limited, Bristol Laboratories, Glenmark Pharmaceuticals, and GlaxoSmithKline Plc. are some of the prominent players at the forefront of competition in the global oral thrush market and are profiled in the MRFR Analysis.
Global Oral Thrush Market – Regional Analysis
North America leads the market owing to well-developed healthcare infrastructure and rising per capita healthcare expenditure. Europe holds the second largest market share. Increasing funding for research and huge patient population within the region facilitates the market growth. Asia Pacific is emerging as the fastest region for the market growth during the forecast period due to the presence of the developed economies like India and China within the region. According to the Indian Brand Equity Foundation in 2017, Indian healthcare sector is one of the fastest growing industries which is expected to advance at a CAGR of 22.87% during 2015-20 and reach USD 280 billion by 2020. On the other hand, Middle East and Africa holds the least market share, especially in the African region due to the stringent government policies and low per capita income. On the other hand, Middle East leads the market of the Middle East & Africa region, due to the presence of developed economies like Kuwait and Qatar along with huge healthcare expenditure.
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