About Medicinal Fungi
Medicinal fungi are fungi that contain metabolites or can be induced to produce metabolites through biotechnology to develop prescription drugs such as antibiotics, anti-cancer drugs, psychotropic drugs, cholesterol and ergosterol synthesis inhibitors, immunosuppressants and fungicides. The factors such as the Increased Application of Fungi in Numerous Drugs and Increasing Consumer Interest in Healthy Food Products are driving the global Medicinal Fungi market. In addition, Increased Research and Development Funding also fueling the market growth. However, Lack of Effective Production Skills and Less Awareness about the Health Benefits of Fungi are the restraining factors for the Medicinal Fungi market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Medicinal Fungi market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amino Up Chemical Co., Ltd. (Japan), Nammex (Canada), Baikal Herbs Ltd. (Russia), Hangzhou Johncan Mushroom Bio-Technology Co., Ltd (China), Aloha Medicinals, Inc. (United States), Fungi Perfecti, Llc (United States), Undersun Biomedtech Corp (United States) and NutraGenesis, LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Naturalin Bio-Resources Co., Ltd (China), Lingonberry Group (USA) Inc. (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Medicinal Fungi market by Type (Micafungin, Mycophenolate, Rosuvastatin and Others), Application (Household, Commercial and Industrial) and Region.
On the basis of geography, the market of Medicinal Fungi has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Powder will boost the Medicinal Fungi market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-use, the sub-segment i.e. Antioxidants will boost the Medicinal Fungi market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Research and Development Funding
Market Growth Drivers:
Increased Application of Fungi in Numerous Drugs and Increasing Consumer Interest in Healthy Food Products
Challenges:
Less Awareness about Health Benefits of Fungi
Restraints:
Lack of Effective Production Skills
Opportunities:
Growing Demand from End-users and Robust Increase in the Distribution Channels
Market Leaders and their expansionary development strategies
In March 2023, GSK plc, announced they have entered into an exclusive licence agreement for Brexafemme (ibrexafungerp tablets), a US FDA approved, first-in-class antifungal for the treatment of vulvovaginal candidiasis (VVC) and for reduction in the incidence of recurrent VVC (RVVC). This exclusive licence agreement gives GSK rights to commercialise Brexafemme for VVC and RVVC while continuing to develop ibrexafungerp, which is in phase III clinical trials for the potential treatment of invasive candidiasis (IC), a life-threatening fungal infection.
In September 2023, BDR Pharmaceutical announced the launch of Zisavel capsules for treating invasive aspergillosis and mucormycosis, both fungal infections. This generic medication, classified under azole antifungals, is offered at one-third of the price of the current therapy provided by the innovators.
Key Target Audience
Medicinal Fungi Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.