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Onychomycosis Treatment Market Size
Onychomycosis Treatment Market size exceeded USD 4.2 billion in 2020 and is expected to grow at a CAGR of over 5.6% from 2021 to 2027. Increasing prevalence of onychomycosis worldwide, growing awareness about the potential threats of onychomycosis, and the rise in the adoption of drug therapies are some of the prominent factors that drive the market growth. Moreover, rising cases of age-related onychomycosis will further propel the market expansion during the forecast period.
The impact of COVID-19 on the market is observed to be negative since a large number of countries adopted lockdown to curb community transmission of the COVID-19 infection. The market witnessed a short-term disruption during the initial days of the COVID-19 pandemic due to the supply chain disruptions and decline in non-urgent in-person clinic visits resulting in a negative impact on the market.
| Report Attributes | Details |
|---|---|
| Base Year: | 2020 |
| Market Size in 2020: | 4.2 Billion (USD) |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 5.6% |
| 2027 Value Projection: | 6.2 Billion (USD) |
| Historical Data for: | 2016 to 2020 |
| No. of Pages: | 130 |
| Tables, Charts & Figures: | 134 |
| Segments covered: | Type, Treatment Type, Drug Class, Distribution Channel, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Onychomycosis Treatment Market Trends
Diabetic patients are susceptible to toenail fungus. Much scientific research has been performed to evaluate whether diabetic people experience a greater risk of onychomycosis than those without diabetes. Most of the studies concluded that they do. According to scientific research, approximately one in three people with diabetes are afflicted with onychomycosis. Onychomycosis in diabetic patients is more than a cosmetic nuisance.
The outcome from untreated cases may include an increased risk of other foot disorders and limb amputation. Therefore, effective onychomycosis treatment in diabetic individuals is of paramount importance.
Onychomycosis Treatment Market Analysis
The distal subungual onychomycosis segment dominated more than 68% of the market share in 2020. DSO represents the most common type of onychomycosis. It is also more common in smokers and in those who use shared bathing facilities and occlusive footwear.
The drug treatment segment accounted for USD 2.5 billion in 2020. The segment growth is high as the oral antifungal agents or drugs have been identified as the most suitable and first-line therapy for onychomycosis. The most commonly used oral drugs for the treatment of onychomycosis are itraconazole, terbinafine, griseofulvin, and ketoconazole. Also, the wide availability of these drugs in pharmacies further augments the industry growth.
Allylamine segment in the onychomycosis treatment market is projected to showcase 5.4% growth rate through 2027. Allylamines are the most commonly used form of drug class and effective in treating most forms of fungal infections. Naftin and Lamisil are the topical allylamines that are used for onychomycosis treatment. Increasing availability and usage of such drugs will influence the industry revenue in the coming years.
The hospital pharmacies distribution channel segment was valued at USD 2.4 billion in 2020 impelled by the higher hospital visits and the availability of medicines in hospital pharmacies. Also, revenue generated through hospital pharmacies is higher as the infected patients generally visit the nearby hospitals for consultation and doctors’ prescriptions.
North America onychomycosis treatment market captured 40% of revenue share in 2020 on account of the increasing awareness about onychomycosis infection and the availability of several treatment options in the region. Rising desire for better aesthetic appeal and hygiene also increases the demand for timely clinic visits and early detection of such infections. Effective treatment may reduce the rate of transmission and related morbidities.
Onychomycosis Treatment Market Share
Some of the prominent players operating in the market include
- Pfizer Inc.
- Novartis AG
- Johnson & Johnson Services Inc.
- Medimetriks Pharmaceuticals Inc.
- Bausch Health Sciences
- Galderma Laboratories
- Moberg Pharma AB
- Dr. Reddy’s Laboratories Ltd
- Merz Pharma
- Kaken Pharmaceutical Co. Ltd
- GlaxoSmithKline plc
- Taro Pharmaceuticals Industries Ltd.
These participants are implementing various growth strategies to sustain industry competition.
The onychomycosis treatment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:
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Market, By Type, 2016-2027 (USD Million)
- Distal subungual onychomycosis (DSO)
- White superficial onychomycosis (WSO)
- Proximal subungual onychomycosis (PSO)
- Candida onychomycosis
- Others
Market, By Treatment Type, 2016-2027 (USD Million)
- Drug treatment
- Topical therapy
Market, By Drug Class, 2016-2027 (USD Million)
- Allylamine
- Azole
- Griseofulvin
- Others
Market, By Distribution Channel, 2016-2027 (USD Million)
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
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