Dermatophytic Onychomycosis Treatment Market Overview:
According to a new report by IMIR Market Research on Global Dermatophytic Onychomycosis Treatment Market Size was valued at USD 4.7 Billion in 2022. The Dermatophytic Onychomycosis Treatment market industry is projected to grow from USD 4.7 Billion in 2023 to USD 8.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2023 - 2032).
Dermatophytic onychomycosis is becoming more common, and there are candidates in the pipeline, are the key market drivers enhancing the market growth.
Dermatophytic Onychomycosis Treatment Market Trends
Rising Prevalence of Dermatophytic Onychomycosis is driving the market growth
Onychomycosis prevalence is one of the main reasons influencing the market's expansion. Toenail onychomycosis infections happen far more commonly than fingernail ones. The market is anticipated to be driven by an increase in the prevalence of dermatophyte-caused nail fungal infections and a steep rise in prescriptions. According to a press release from Moberg Pharma AB, between 35 and 40 million Americans—or around 10% of the world's population—have nail fungus. During the predicted term, this is likely to result in an increase in demand for the market for treating dermatophytic onychomycosis. Another reason for the rise in dermatophytic infections is the rising prevalence of diabetes. According to the International Diabetes Federation, 463 million people globally will have diabetes in 2019, which will contribute to the expansion of the sector.
Due to the rising incidence and lack of effective treatments, pharmaceutical companies have dramatically increased their R&D spending in an effort to find novel cures. The depths of the nail bed are inaccessible to many topical treatments now available, making it impossible to completely heal the infection. In an effort to get around this problem, many companies are working hard to create substances that enter the nails deeper. In order to cure dermatophytic onychomycosis, one biotech company, Hexima, is doing phase I/lla clinical research on HXP124, a plant defensin anti-fungal drug. When compared to Kerydin and Jublia, HXP124's penetration rates were shown to be higher. Increased research funding and the release of promising therapy candidates are anticipated to have a major positive impact on the market for drugs to treat dermatophytic onychomycosis. Thus, driving the Dermatophytic Onychomycosis Treatment market revenue.
Scope of Dermatophytic Onychomycosis Treatment Market Report
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Dermatophytic Onychomycosis Treatment Market. On the basis of historic growth analysis and current scenario of Dermatophytic Onychomycosis Treatment market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Dermatophytic Onychomycosis Treatment market. This further helps users with their developmental strategy.
Dermatophytic Onychomycosis Treatment Key Market Players & Competitive Insights
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Dermatophytic Onychomycosis Treatment market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Dermatophytic Onychomycosis Treatment sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Dermatophytic Onychomycosis Treatment sector. Major players in the Dermatophytic Onychomycosis Treatment market, including Bausch Health Companies Inc., Pfizer Inc., Galderma, GlaxoSmithKline plc, Janssen Pharmaceuticals, Inc., Cipla Inc., and Kaken pharmaceuticals Co., Ltd., are attempting to increase market demand by investing in research and development operations.
Alembic Pharmaceuticals Ltd (APL), a pharmaceutical company, manufactures and sells generic pharmaceutical products. Oral solids, oncology OSD, generic formulations, general and oncology injectables, as well as ophthalmology and dermatology products, make up the company's product line. It offers products for a variety of medical procedures, such as heart surgery, analgesics, genecology, cough and cold remedies, gastroenterology, ophthalmology, anti-diabetics, orthopedic, urology, and dermatology. Along with operating production facilities in the Indian states of Gujarat and Sikkim, APL also maintains research facilities in Vadodara, Hyderabad, and New Jersey. South Africa, Australia, Brazil, India, the US, Canada, and other regions of Europe are among the countries to which the company exports its products. APL's headquarters are in Vadodara, Gujarat, in India. According to a statement made by Alembic Pharmaceuticals Limited (Alembic), Aleor Dermaceuticals Limited (Aleor) received tentative approval from the US Food & Drug Administration (US FDA) for its abbreviated new drug application (ANDA) for Efinaconazole Topical Solution for the treatment of onychomycosis in the toenail in April 2021.
Lupin Ltd. (Lupin) develops and manufactures active pharmaceutical ingredients (APIs), generic and branded formulations, and biotechnology products. It is knowledgeable about cardiovascular, asthma, diabetes management, pediatrics, gastroenterology, anti-infectives, NSAIDs, anti-TB, and cephalosporin treatments. It also understands how the brain and spinal cord function. The business invests heavily in pharmaceutical research and development for the treatment of ailments like migraines, gastrointestinal problems, psoriasis, cardiovascular problems, tuberculosis, diabetes, and inflammation. Additionally, Lupin uses its platform technology to provide generic medications with added value. Together with its subsidiaries, the company operates production facilities in Brazil, Mexico, the US, and India. The headquarters of Lupin are located in Mumbai, Maharashtra, India. In February 2021, Lupin Limited was given approval by the US Food and Drug Administration to market its Tavaborole Topical Solution for onychomycosis.
Key Companies in the Dermatophytic Onychomycosis Treatment market include
- Bausch Health Companies Inc.
- Pfizer Inc.
- Galderma
- GlaxoSmithKline plc
- Janssen Pharmaceuticals, Inc.
- Cipla Inc.
- Kaken pharmaceuticals Co., Ltd.
Dermatophytic Onychomycosis Treatment Industry Developments
March 2020 - Kaken Pharmaceuticals Co., Ltd. announced the launch of Jublia in Hong Kong.
February 2019 - Bayer AG is in charge of marketing, selling, and distributing MOB-015 throughout Europe in accordance with a licensing agreement signed by Moberg Pharma AB and Bayer AG.
July 2018 - The introduction of NAILIN in Japan was announced by Sato Pharmaceutical Co., Ltd. and Eisai Co., Ltd.
Dermatophytic Onychomycosis Treatment Market Segmentation Analysis
Dermatophytic Onychomycosis Treatment Product Type Outlook
Dermatophytic Onychomycosis Treatment Route of Administration Outlook
Dermatophytic Onychomycosis Treatment Type Outlook
- Prescribed
- Over-the-Counter (OTC)
Dermatophytic Onychomycosis Treatment Distribution Channel Outlook
- Hospitals & Clinics
- Retail Pharmacies
- Online Channels
Dermatophytic Onychomycosis Treatment Market Segment Insights
Dermatophytic Onychomycosis Treatment Product Type Insights
The global Dermatophytic Onychomycosis Treatment market segmentation, based on Product Type includes tablets and nail paints. It is anticipated that the nail paints category will dominate the market for the entire projection period. The market is anticipated to grow as topical nail lacquers become more commonplace when compared to oral anti-fungal medications and Jublia usage rises. However, the COVID-19 pandemic's influence on Clenafin sales, particularly in Japan, has hurt the nail paints segment's revenue. Due to increased government initiatives to transition to generic medications, it is projected that the tablet market would expand.
Dermatophytic Onychomycosis Treatment Route of Administration Insights
The global Dermatophytic Onychomycosis Treatment market segmentation, based on Route of Administration, includes oral and topical. The topical market category held the greatest market share in 2019. Many podiatrists and dermatologists favor recommending topical therapies over oral ones due to the adverse effects of the former, such as liver damage. Along with increased research into the development of topical treatments, this is anticipated to hasten the expansion of the market for tablets. Due to their increased penetration and efficacy compared to topical treatments, oral medications offer superior cure rates, which is the primary factor driving the segment's growth over the course of the projected period.
Dermatophytic Onychomycosis Treatment Type Insights
The global Dermatophytic Onychomycosis Treatment market segmentation, based on Type, includes prescribed and over-the-counter (OTC). Due in large part to the steady move toward nail paints and rising sales of ciclopirox for the treatment of dermatophytic onychomycosis, the OTC segment dominated the market. The three main drivers of the growth of the prescription category are favorable health reimbursement, an increase in podiatrists, and the prevalence of dermatophytic onychomycosis. The government's decision to close non-emergency OPDs in hospitals and the decline in hospital visits have both had an adverse effect on the prescription segment.
Dermatophytic Onychomycosis Treatment Regional Insights
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America held the top spot in the regional category in 2022 (45.8%). The increase in onychomycosis prescriptions, increased research, and rising demand for Jublia and Kerydin are the primary factors driving the market expansion in North America. According to a press release from Moberg Pharma AB, the market in North America will expand as a result of the approximately 5 million prescriptions that are written there each year for the treatment of onychomycosis. Further, In the North American area, the U.S. Dermatophytic Onychomycosis Treatment market had the biggest market share, while the Canada Dermatophytic Onychomycosis Treatment market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
The increased prevalence of onychomycosis, appealing health reimbursement policies, and improved distribution of OTC medications through partnerships with retail pharmacies like Walmart, Walgreens, and others are all expected to increase demand for dermatophytic onychomycosis therapy in Europe. Onychomycosis is 4.7% common in all of Europe, according to a study that was written up in the Journal of the European Academy of Dermatology and Venereology. The European market is anticipated to be stimulated by this. Further, In the European region, the German Dermatophytic Onychomycosis Treatment market had the biggest market share, and the U.K. Dermatophytic Onychomycosis Treatment market had the quickest rate of growth.
The market in Asia Pacific is anticipated to increase dramatically as a result of the launch of new products, the rising prevalence of diabetes, and the rising geriatric population. Jublia will be available as a treatment for dermatophytic onychomycosis in Hong Kong starting in March 2020, claims Kaken Pharmaceuticals Co., Ltd. This is anticipated to increase the Asia Pacific market. The industry is being driven globally by factors like rising patient awareness, increasing health spending, and expanding distribution networks. Further, In the Asia-Pacific region, the Indian Dermatophytic Onychomycosis Treatment market had the quickest rate of growth while China's Dermatophytic Onychomycosis Treatment market had the greatest market share.
Dermatophytic Onychomycosis Treatment Market Report is also available for below Regions and Country Please Ask for that
North America
Europe
- Switzerland
- Belgium
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Rest of Europe
Asia-Pacific
- India
- Australia
- Philippines
- Singapore
- South Korea
- Japan
- China
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Argentina
- Peru
- Colombia
- Brazil
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
- The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Questions
- How much the global Dermatophytic Onychomycosis Treatment Market valued?
- Which region has the largest share in 2023 for the global Dermatophytic Onychomycosis Treatment Market?
- What are the driving factors for the market?
- Which is the leading segment in the global market?
- What are the major players in the market?
Research Scope of Dermatophytic Onychomycosis Treatment Market
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2032
- Representation of Market revenue in USD Million
Dermatophytic Onychomycosis Treatment Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
