According to a newly-released analysis, the global ringworm treatment market is projected to reach a market value of US$ 8.38 Billion in 2023, with a forecasted CAGR of 5.2% over the period from 2023 to 2033. By the end of 2033, the market is expected to witness significant growth, driven by the increasing demand for effective treatments for ringworm and other skin diseases.
The high prevalence of skin conditions, particularly fungal infections such as ringworm, has led to an upsurge in demand for treatment solutions. The growing awareness of personal hygiene and advancements in dermatological treatments have also contributed to the market’s expansion. These factors are anticipated to continue driving growth throughout the forecast period, establishing the ringworm treatment market as a key segment within the global healthcare and pharmaceutical industries.
A fungal infection of the skin called dermatophytosis is on the rise for antifungal products such as creams, dusting powders, and oral medications. The incidence of ringworm may reach as high as 20% worldwide every year. It is more common for men to contract groin infections, while females are equally likely to contract scalp and body infections. Children are most likely to contract scalp infections, while the elderly are most likely to suffer from groin infections
FMI predicts that by 2023, the drug class segment will account for more than 3/5th of ringworm treatment sales. According to estimates, ultraviolet races will collectively hold more than half of the market share by 2032. Phototherapy utilizing ultraviolet light is highly popular in treating fungus infections on the skin, such as ringworm. Medical professionals in various developed regions use UV light therapy to treat affected skin areas, and the demand for these therapies has increased. Usually, this therapy takes a few weeks to complete in a series of treatments.
Competitive Landscape
The key players in the global ringworm treatment market are conducting research and development activities to develop new products as well as antifungal ointments for the diagnosis and treatment of ringworms. These new treatments are anticipated to launch in the near future. Obtaining approval for new products in a timely manner gives companies a competitive edge over competitors.
- Bayer relaunches Canesten in the Indian market. Canesten cream, according to the company, helps treat fungal skin infections such as athlete’s foot, ringworm, jock itch, and skin candidiasis. Further, the formulation is effective in treating vulvovaginal candidiasis complicated by inflammatory lesions and skin fungal infections.
- Close to 20,000 households will benefit from the Department of Health’s program on herbal medicine, which was launched through the Philippine Institute of Traditional and Alternative Health Care. PITAHC developed HerbMAP under the supervision of Undersecretary Charade Mercado-Grande in response to the occurrence of the pandemic, which worsened the lack of herbal medications and products.
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.
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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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