The global Ringworm Treatment Market is anticipated to reach US$ 13.91 billion in 2033 and expand at a CAGR of 5.2% between 2023 and 2033, according to Future Market Insights. The increasing prevalence of skin diseases and the high incidence rates of ringworm are contributing reasons to the market for ringworm treatments. Additionally, as bacterial and viral infections increase in frequency, the global market is being driven by increased research and development activity. This, in turn, is fostering the industry’s expansion by raising consumer awareness of antifungal medications and cutting-edge disease treatments.
According to Future Market Insights, the global ringworm treatment market is projected to reach US$ 13.91 billion in 2033 and grow at a CAGR of 5.2% between 2023 and 2033. The market for ringworm treatments is driven in part by the high incidence rates of ringworm and the rising frequency of skin illnesses. Additionally, as bacterial and viral diseases become more common, more research and development is being done, which is driving the global market. By increasing consumer knowledge of antifungal drugs and cutting-edge disease treatments, this in turn is encouraging the industry’s growth.
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Treatment for ringworm looks very promising in the future. As a result of recent advancements in medical technology and treatments, it has become significantly easier to treat the symptoms of ringworm more quickly and efficiently than ever before. The development of new treatments is also being carried out in order to target specific types of fungi in order to provide more precise and targeted treatments for the disease. The research is also being conducted to gain a better understanding of the fungus, allowing better prevention and better treatment to be developed in the future.
In addition to rising adoption rates, pet owners are taking care of their animals at home with hygiene products. Antifungal creams, shampoos, and oral medications are the most common treatments for these conditions in the current market. In the future, new treatments that focus on improving the targets and treatments of ringworm may be developed as research continues. Moreover, improvements can also be made to existing treatments in order to make them more effective in the market. In addition, scientists are collaborating to develop less irritating and more effective topical antifungals.
Key Takeaways from the Market Study
- By 2023, global ringworm treatment sales are expected to reach US$ 8.38 billion.
- Topical routes of administration for ringworm treatment are expected to grow 64% market share between 2023 and 2033.
- Antifungal drugs for the ringworm treatment market are projected to grow at a CAGR of 3.8% from 2023 to 2033.
- According to the forecast, the Asia Pacific ringworm treatment market will grow at a CAGR of 3.2%.
- According to the forecast, the North American market is projected to grow by 14% in the next few years.
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“Advances in technology, approval of new topical and oral drugs, and developments in diagnostic kits will contribute to the growth of the ringworm treatment market.” comments a Future Market Insights analyst.
Competitive Landscape
With the advancement of diagnostic techniques, companies are increasingly interested in developing and researching them at the same time. Since many companies will be developing new antifungal treatment techniques in the near future, it’s likely that many of them will expand their product lines, acquire other firms, or merge.
- Glenmark Pharmaceuticals Ltd., An innovative global pharmaceutical company has created a digital patient education tool for Dermatophytosis (Ring Worm or Tinea) in India. The tool is called ‘Hello Skin’, and it was created in partnership with IADVL (Indian Association of Dermatologists, Venereologists, and Leprologists). With Hello Skin, patients suffering from Ring Worm have access to 24/7 medication reminders for topical/systemic therapies, as well as tips on how to care for their skin and create disease awareness. In addition to Hindi and English, this platform will be available in 6 different regional languages, making it more patient-friendly.
- F2G Inc. announced that the U.S. Food and Drug Administration (FDA) has approved its New Drug Application (NDA) for olorofim for patients with limited options for treating fungal infections.
Key Companies Profiled:
- Perrigo Company plc
- Novartis AG
- GlaxoSmithKline Plc
- Teva Pharmaceuticals, Inc.
- Taro Pharmaceutical Industries Ltd.
- Glenmark Pharmaceuticals Inc.
- Avik Pharma
- Actiza Pharmaceutical
- Chempro Group India
- Merck & Co., Inc.
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Key Segments Profiled in the Ringworm Treatment Market Industry Survey?
By Drug Class:
- Steroids
- Antifungals
- Anti-infective
- Others
By Route of Administration:
- Oral
- Topical
By Distribution Channel:
- Hospital Pharmacies
- Drug Stores
- Retailers
- E-commerce
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By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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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