Cryptococcosis Market Opportunities, Business Forecast To 2029

According to Precision Business Insights (PBI), latest report cryptococcosis market was valued at USD 5,273.5 million in 2022, growing at an 4.5% CAGR from 2023 to 2029. The market for cryptococcosis is driven by the prevalence of low immunity among a large portion of the population brought on by smoking, alcohol use, poor nutrition, rising disease prevalence, and stress, which makes it easier to contract the disease. Furthermore, an increase in the willingness of people for organ and blood donation leads to a high chance of infection from Cryptococcosis which propels the market growth. Moreover, research in investigating immunotherapies or adjunctive therapies to enhance the immune response against the Cryptococcus fungus has increased opportunities as promising avenues for treatment. Additionally, the better availability of test kits such as rapid and point-of-care kits and mandating the testing in a routine care setting by several developing and underdeveloped governments in collaboration with the WHO also burgeon the growth of the market over the forecast years.

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The Cryptococcosis market is segmented based on treatment, diagnosis, end-users, distribution channel, and geography.
Based on the Treatment, the market is segmented into the following:
• Amphotericin B
• Flucytosine
• Fluconazole
• Voriconazole
• Surgery Treatment
• Others

Based on the Diagnosis, the market is segmented into the following:
• Cryptococcal antigen
• Bronchoscopy
• X-ray
• MRI
• Lung Biopsy
• CSF Polymerase Chain Reaction
• Lumber Puncture
• Urine Test
• CT scan
• Others

Based on the End-Users, the market is segmented into the following:
• Clinic
• Hospital
• Others

Based on the Distribution Channel, the market is segmented into the following:
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Cryptococcal Antigen Test Diagnosis Dominates the Cryptococcosis Market:
Based on Diagnosis, the Cryptococcal Antigen Test is anticipated to show a significant growth rate in the market share over the forecasting period. The detection of the Cryptococcus fungus in clinical specimens, often from cerebrospinal fluid (CSF) or respiratory samples, by Cryptococcal Antigen Test, is a standard technique for the diagnosis of cryptococcosis. A highly sensitive and accurate diagnostic test for cryptococcosis is the finding of Cryptococcal antigen in serum or CSF. It is frequently employed in clinical settings for diagnosis and assessing treatment efficacy since it can swiftly and precisely confirm the presence of the fungus. For instance, Thermofisher launched Remel Cryptococcus Antigen Test Kit which has both diagnostic and prognostic value and is easy to use.

North America Leads Cryptococcosis Market:
Cryptococcosis market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America dominates the cryptococcosis market. The market is expected to grow at a significant CAGR over the forecast years owing to the United States and Canada having a well-developed healthcare system, with numerous prominent national clinical laboratories and easy access to technologically advanced instruments. Recent developments in biomarker-based diagnostics for the condition, reimbursement for disease screening, and increased access to antifungal medications like flucytosine, organized healthcare sector, and commercial health insurance companies all contribute to the expansion of the cryptococcosis market in the United States. Asia Pacific region is anticipated to grow in the forecasting period owing to rising healthcare providers' infrastructure expenditures, the need to handle the growing burden of infectious illnesses, and government attempts to increase diagnostic service accessibility to promote prevention by providing goods or platforms necessary for infectious disease diagnosis market to grow.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Cryptococcosis market further reveals that the key players increasingly adopting strategies such as the launch of newer products, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,
In July 2022, Matinas BioPharma, a clinical-stage biopharmaceutical company focused on improving the intracellular delivery of nucleic acids and small molecules with its lipid nanocrystal (LNC) platform technology, announced that the European Medicines Agency (EMA) Committee for Orphan Medicinal Products (COMP) recommended MAT2203 for designation as an orphan medicinal product for the treatment of cryptococcosis.
In April 2022, Flucytosine, a critical drug for the treatment of cryptococcal meningitis (CM), was approved in South Africa.
Amplyx Pharmaceuticals, Abbott Laboratories, and Teva Pharmaceutical Industries Ltd.

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Key player's profiles in the cryptococcosis market report are Bristol-Myers Squibb Company, Pfizer, Inc., Astellas Pharma Inc., Sigmapharm Laboratories LLC, Glenmark Pharmaceuticals, Janssen Biotech Inc. (Johnson & Johnson), Abbott Laboratories, Novartis AG, Valeant Pharmaceuticals Inc., Lupin Ltd,

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This release was published on openPR.