Ketoconazole Market: Current Analysis and Forecast (2023-2030)

Report Description

The ketoconazole market is expected to grow at a strong CAGR of around 3.1% during the forecast period owing to the rising demand for skincare drugs globally. For instance, in July 2022, according to a report from the National Institutes of Health, global consumption of antifungal agents triazoles and terbinafine gradually increased in middle- and high-income countries. In addition to this, the increasing product launches of pharmaceutical companies to find potential drugs, rising research and development activities for developing better therapeutic options, and the rising urban population are also driving the ketoconazole market. Global preservative-producing giants are leaving no stone unturned to showcase their potential for launching a new drug with integrated technologies by expanding their portfolio. For instance, in December 2021, Xeris Biopharma announced U.S. FDA Approval of Recorlev (levoketoconazole) for the treatment of endogenous hypercortisolemia in adult patients.

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Some of the major players operating in the market include Mylan Inc.; Almirall, S.A; Johnson & Johnson Services, Inc.; Taro Pharmaceutical Industries Ltd.; Teva Pharmaceutical Industries Ltd.; Sandoz Group AG; Strides Pharma Science Limited; LGM Pharma; AKSHAR PHARMA; Gonane Pharma.

Insights Presented in the Report

“Amongst product type, the ketoconazole oral category to grow with high CAGR during the forecast period”

Based on product type, the market is segmented into ketoconazole oral, ketoconazole topical, and ketoconazole shampoo. The ketoconazole oral segment is expected to hold a significant share in the forecast period due to the surge in fungal and non-fungal infections on the hair scalp. Ketoconazole has high efficacy against skin infections and hair loss treatment and ensures easier storage and product safety while durable transportation. The ketoconazole oral category is in high demand in the mode of drug administration among consumers due to ease of consumption. Top of FormThus, the ketoconazole oral category is expected to grow with a high CAGR during the forecast period.

“Amongst applications, the antifungal segment held a significant share in the year 2022”

Based on application, the market is segmented into antifungal, hair loss, and others. The antifungal segment held a significant share in 2022 due to a surge in compromised immune systems and harmful pathogens adapting to warmer temperatures. Also, advances in technology, changing lifestyles, and an increasing urban population are all factors that have contributed to this development of the segment. Thus, the antifungal segment dominated the market in the year 2022 amongst applications.

Ketoconazole Market Report Coverage

“Amongst regions, APAC region is expected to grow with high CAGR during the forecast period”

APAC is expected to grow with the highest CAGR during the forecast period. The growing number of ketoconazole manufacturing companies in Asia-Pacific contributes to the growth of the market in this region. Also, more people are engaged in their lifestyles which has increased demand for skincare products, which is leading to an increase in investment in antifungal drugs. Hence, given the large population size of APAC, it is expected to grow with a high CAGR during the forecast period.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Research Methodology for the Ketoconazole Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global ketoconazole market were the three major steps undertaken to create and analyze the adoption of ketoconazole in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global ketoconazole market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the ketoconazole market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the ketoconazole market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments and sub-segments for major regions. Major segments are included in the report as product type, application, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the ketoconazole market. Further, we conducted factor analysis using dependent and independent variables such as product type, application, and region of the ketoconazole market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the ketoconazole market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global ketoconazole market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the ketoconazole market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global ketoconazole market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global ketoconazole market. data was split into several segments & sub-segments after studying various parameters and trends in the areas of the product type, application, and region in the global ketoconazole market.

The main objective of the Global Ketoconazole Market Study

The current & future market trends of the global ketoconazole market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the ketoconazole market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product type, application, and region Define and analyze the regulatory framework for the ketoconazole industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the ketoconazole market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the ketoconazole market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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