The global onychomycosis treatment market is poised for robust growth, with an estimated valuation of USD 4,738.3 million in 2023. Over the forecast period from 2023 to 2033, the market is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 8.4%, reaching a projected value of USD 10,608.8 million by 2033.
The market’s expansion is largely driven by the rising prevalence of diabetes, which significantly increases susceptibility to nail fungal infections. Onychomycosis, a common fungal infection affecting nails, is a growing concern among diabetic and aging populations worldwide.
Increased awareness about nail health, coupled with advancements in treatment options such as topical antifungal medications, oral therapies, and laser treatments, is further bolstering market growth. The development of effective and non-invasive treatment methods is expected to enhance patient outcomes and drive demand over the coming years.
As the healthcare industry continues to focus on addressing lifestyle-related diseases and their complications, the onychomycosis treatment market is set to experience sustained growth.
Key Growth Drivers
The growth of the onychomycosis treatment market can be attributed to several factors:
- Increasing Prevalence of Diabetes: The rising incidence of diabetes significantly increases the risk of developing nail fungal infections, driving demand for effective treatment options.
- Aging Population: As the global population ages, older individuals are more susceptible to circulatory issues and weakened immune systems, making them more vulnerable to onychomycosis.
Market Dynamics
- The market is expected to benefit from advancements in treatment options, including new antifungal medications and innovative delivery methods such as topical treatments and nail lacquers.
- Increased awareness about fungal nail infections and their implications on overall health is likely to boost market growth as more individuals seek treatment.
Regional Insights
- North America is anticipated to dominate the market due to a well-developed healthcare infrastructure and a high prevalence of skin infections.
- The Asia-Pacific region is also expected to witness substantial growth, driven by rising healthcare expenditures and increasing awareness about onychomycosis.
Competition Analysis
Key players in the global onychomycosis treatment market include Teva Pharmaceutical Industries Ltd., Sanofi S.A., Valent Pharmaceutical, Galderma, Johnson & Johnson, Novartis AG, Moberg Pharma AB, Cardinal Health, Inc., Pfizer Inc., Almirall, S.A., Bayer AG, Viatris Inc., GlaxoSmithKline plc, Cipla Ltd., and Dr. Reddy’s Laboratories Ltd.
Recent Developments in the Market Include
- In November 2021, Sanofi announced the acquisition of Kadmon Holdings. The acquisition further develops the growth and expansion of the General Medicines portfolio. Sanofi concluded its acquisition of Kadmon through the merger of a wholly owned subsidiary of Sanofi with and into Kadmon, pursuant to Section 251 of the General Corporation Law of the State of Delaware, with Kadmon continuing as the surviving corporation and becoming an indirect, wholly-owned subsidiary of Sanofi.
- In December 2021, Pfizer Inc. and Arena Pharmaceuticals, Inc. announced that the companies had inked an agreement under which Pfizer may acquire Arena, a clinical-stage company developing innovative potential therapies for the treatment of several immuno-inflammatory diseases.
Key Companies Profiled
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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Key Segments in The Global Onychomycosis Treatment Industry
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 to 18 Years
- 18 to 39 Years
- 40 to 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
- The Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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