Toenail fungus, also known as Onychomycosis Treatment Market, is a prevalent and enduring illness that affects millions of individuals worldwide. The good news is that there are a number of efficient treatment solutions available to address this annoying issue and revive the health and attractiveness of your nails.
Onychomycosis treatment frequently begins with topical antifungal medicines. The active chemicals in these over-the-counter or prescription lotions, ointments, or nail lacquers specifically target the fungus. To get the intended results, it’s crucial to adhere to the suggested application schedule and maintain consistency.
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Treatments for onychomycosis are expected to generate US$ 4.44 billion in revenue by 2022. The market for onychomycosis treatments is anticipated to grow at a CAGR of 8.46% from 2022 to 2032 and reach a value of US$ 10 billion. Due to the elevated risk of nail fungus infections brought on by the rising incidence of diabetes, the market is expanding.
Key Market Players considered in the Study:
- 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
Growing Inclination towards Combination Therapy to Boost Nail Lacquer Sales
With bolstering recommendations for combination therapy by both podiatrists and dermatologists is cited as another strong factor encouraging the demand for onychomycosis treatment worldwide. Research indicates an increased cure rate when the treatment combines systemic and topical therapies, which is presumably stimulating onychomycosis patients to opt for treatment that involves long-term antifungal drugs medication, followed by application of nail lacquers.
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A senior market research analyst at FMI explains, “Oral terbinafine has been a popular choice for including in the combination therapy over the years, which is followed by amorolfine nail lacquer in follow-up sessions. The emergence of more such combination therapies as a part of onychomycosis treatment is likely to support the growth of onychomycosis treatment market in coming years”.
Nearly 80% Revenue Belongs to Distal Subungal Onychomychosis Treatment
Distal subungal onychomycosis, though is the most prevalent disease indication pushing the demand for treatment with almost 80% share in the total market value, the report projects that the prevalence of proximal subungal onychomycosis would increase at a significant rate in coming years.
North America & Western Europe Bag in over 70% Market Value Share
Holding a collective revenue share of more than 70%, North American and Western European markets for onychomycosis treatment continue to provide the strongest push to market growth. In addition to the highest onychomycosis prevalence, North America’s landscape reaps a major advantage of favorable reimbursement scenario in the US.
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Analysis of the Moderately Consolidated Market Structure
Among the top performers in the global onychomycosis treatment landscape including Novartis AG, Galderma S.A., Valeant Pharmaceuticals, Inc., Johnson & Johnson Services, Pfizer, Inc., and others, the top five companies account for a global market share of over 43% – leaving the market as a moderately consolidated landscape. With an objective to achieve impactful product promotion campaigns, companies are signing sales and marketing agreements, according to the report.
- As indicated by recent research data, Valeant’s Jublia and Pfizer’s Diflucan have been the key brands responsible for sizable revenue generation in the onychomycosis treatment marketplace.
- Jublia continues to enjoy booming sales through the company’s D2C (direct-to-consumer) marketing strategy. Galderma’s Loceryl and Novartis’ Lamisil are also projected to retain higher attractiveness in the onychomycosis treatment landscape.
- The leading market players are likely to maintain their strategic focus on a strong sales channel and a versatile distribution network.
Onychomycosis Treatment Market Segmentation Analysis:
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
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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, Inc. (ESOMAR certified, Stevie Award – recipient 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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