The Onychomycosis Treatment Market, often known as toenail fungus, is a common and lasting condition that affects millions of people worldwide. The good news is that you may address this bothersome problem and restore the health and beauty of your nails with a number of effective treatment options.
Topical antifungal medications are usually used to start the treatment of onychomycosis. These over-the-counter or prescription lotions, ointments, or nail lacquers have active ingredients that particularly attack the fungus. It’s essential to follow the recommended application schedule and be consistent if you want the desired outcomes.
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By 2022, it is anticipated that onychomycosis treatments will bring in US$4.44 billion. From 2022 to 2032, the market for onychomycosis therapies is projected to increase at a CAGR of 8.46% and reach a value of US$ 10 billion. The market is growing as a result of the increased risk of nail fungus infections brought on by the rising prevalence of diabetes.
Here are some key factors that were contributing to the growth of the onychomycosis treatment market:
- Rising Prevalence: Onychomycosis is a common fungal infection, affecting millions of people worldwide. The prevalence of onychomycosis is higher in elderly individuals and people with certain risk factors such as diabetes and compromised immune systems.
- Increasing Awareness: Growing awareness about onychomycosis and its treatment options among patients and healthcare providers resulted in early diagnosis and treatment, leading to an increased demand for medications.
- Advancements in Treatment: Continuous research and development efforts led to the introduction of newer and more effective antifungal drugs and treatment modalities. This encouraged patients to seek medical help and contributed to market growth.
- Healthcare Infrastructure: Improving healthcare infrastructure in various regions allowed better access to medical facilities and treatment options, which positively impacted the onychomycosis treatment market.
- Cosmetic Concerns: The cosmetic implications of onychomycosis prompted individuals to seek treatment, even in cases where the infection did not cause significant discomfort.
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
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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
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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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