As per the recent edition of the Onychomycosis Treatment Market report, ESOMAR-certified market research and consulting firm Future Market Insights offers projections about key factors driving the demand. Technological advancements and increasing awareness of this condition are likely to propel the growth of the Onychomycosis treatment market across the globe.
Onychomycosis is a very common condition that causes a fungal infection of the fingernails or toenails. Onychomycosis is subjected to significant negative effects on a patient’s emotional, social, and occupational functioning. It may lead to social exclusion and stigmatization. The emergence of improved systemic treatment regimens in the last two decades is helping increase the number of people receiving treatment for this disease.
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According to Future Market Insight’s detailed analysis, an increase in the diagnosis of nail infections has helped widespread awareness of this condition with an estimated market growth at a CAGR of 5% between 2016 and 2020. It has in turn fueled the demand for effective medications. Driven by the above factors and increasing patient pool, the demand for onychomycosis treatment is expected to progress with a remarkable CAGR of 7% through the forecast period (2021-2031).
Key Takeaways
- An increase in awareness about the condition has fueled the demand for effective medications. The rising prevalence of onychomycosis has elevated the demand for nail lacquers treatment, driving the growth of onychomycosis treatment market.
- Development of new drugs in the pipeline such as Novexatin topical nail fungus treatment for onychomycosis has been enabling growth in the market.
- KX2-391 is another promising recent phase III addition that is being developed by Almirall, S.A for the treatment of onychomycosis.
- Rapid development in the drug delivery process for treatment of onychomycosis diseases has encountered an ever-growing number of patients which is resulting in the notable shift towards combination treatment has spurred the market growth through the forecast years.
- North America is projected to emerge as the most lucrative market for onychomycosis treatment, forecasting to exhibit a CAGR of over 7% during the forecast period.
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Competitive Landscape
Teva Pharmaceutical Industries Ltd., Sanofi S.A., Medimetriks Pharmaceuticals, Inc., Galderma, Johnson & Johnson, Novartis AG, Moberg Pharma AB, Cardinal Health, Inc., Pfizer Inc., Almirall, S.A., Bayer AG, Viatris Inc., GlaxoSmithKline plc, Cipla Ltd., Dr. Reddy’s Laboratories Ltd are some of the key companies profiled in the full version of the report.
To gain a competitive edge in the market, key companies and manufacturers in the onychomycosis treatment market are aiming to carry out strategic collaborations such as acquisitions and mergers to increase awareness across the globe.
More Insights into the Onychomycosis Treatment Market
In its latest report, FMI offers an unbiased analysis of Onychomycosis treatment covering sales outlook, demand forecast & up-to-date key trends. The market is segmented on the basis of type (Drugs: Oral, Rx, OTC,), (Laser: C02 Ablative Lasers, Nd:YAG Lasers, Dual-wavelength near-infrared Lasers), (Photodynamic Therapy), Disease Indication ( Distal Subungual Onychomycosis, White Superficial Onychomycosis, Proximal Subungual Onychomycosis, Candidal Onychomycosis, Total Dystrophic Onychomycosis), age group, (0-18 years, 18-39 years, 40-64 years, 65 years & above), gender (male, female), distribution channel (Institutional Sales: Hospitals, Dermatology Clinics, Retail Sales: Retail Pharmacies, Drug Stores, Mail Order Pharmacies & Online Sales) region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa (MEA)).
According to FMI projections North America is anticipated to emerge as the dominant region accounting for the highest onychomycosis treatments, exhibiting a CAGR of over 7% during the forecast period. The increase in the prevalence of risk factors such as diabetes which has higher chance to cause onychomycosis is one of the key factors that is making the U.S. one of the most lucrative markets for onychomycosis treatment.
Germany is among the top countries that spend a significant amount on healthcare. People’s shifting abilities to spend more on healthcare has increased awareness about onychomycosis conditions. Constant improvements in healthcare infrastructure are enabling the growth of effective onychomycosis treatment in the German market.
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Key segments
Onychomycosis Treatment Market by Category
Treatment Type:
- Drugs
- Oral
- Rx
- OTC
- Topical
- Rx
- OTC
- Oral
- Lasers
- C02 Ablative Lasers
- Nd:YAG Lasers
- Dual-wavelength near-infrared Lasers
- Photodynamic Therapy
Disease Indication:
- Distal Subungual Onychomycosis
- White Superficial Onychomycosis
- Proximal Subungual Onychomycosis
- Candidal Onychomycosis
- Total Dystrophic Onychomycosis
Age Group:
- 0-18 Years
- 18-39 Years
- 40-64 Years
- 65 Years & Above
Gender:
- Male
- Female
Distribution Channel:
- Institutional Sales
- Hospitals
- Dermatology Clinics
- Retail Sales
- Retail Pharmacies
- Drug Stores
- Mail Order Pharmacies & Online Sales
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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