What is the Historic and Current Scenario of the Onychomycosis Market?
The onychomycosis market has seen considerable growth due to a variety of factors.
•In the past few years, the onychomycosis market has seen robust growth. It is projected to increase from $3.63 billion in 2024 to $3.83 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%.
The market expansion during the historic period can be traced back to a lack of treatment alternatives, an increasing elderly population, a rise in diabetes cases, pharmaceutical industry growth, and heightened awareness regarding fungal infections.
What are the Forecasted Growth and Key Factors of the Onychomycosis Market?
The onychomycosis market is expected to maintain its strong growth trajectory in upcoming years.
• The onychomycosis market is projected to witness robust expansion in the coming years, reaching a value of $4.81 billion by 2029 with an impressive compound annual growth rate (CAGR) of 5.9%.
The predicted growth within this period can be credited to several factors including the adoption of combined drug treatments, rise in healthcare expenditures, increasing awareness programs related to onychomycosis, the spread of telemedicine services, and the improvement in topical pharmaceutical formulations. The anticipated trends during the forecast timeframe encompass the application of digital technology in diagnosing and managing onychomycosis, a surge in the usage of over-the-counter (OTC) antifungal products, the creation of more patient-centric treatment plans, a focus on personalized medicine for treating onychomycosis and collaborations amongst pharma firms for research and development.
What Main Forces Are Fueling Expansion In The Onychomycosis Market?
The escalating number of diabetic patients is anticipated to fuel the onychomycosis market's expansion in the future. Diabetes, resulting from inadequate insulin manufacturing by the pancreas or ineffective insulin usage by the body, is a long-term ailment. Onychomycosis is a prevalent issue in diabetic individuals and it can get contained by averting and handling related issues. Thus, the increasing prevalence of diabetes is escalating the demand for the onychomycosis market. For example, as per UK government's National Health Service, in June 2024, they noted over an additional half a million (549,000) people in England with the potential of developing type 2 diabetes in 2023. The total count of individuals with non-diabetic hyperglycemia or pre-diabetes registered with a GP jumped to 3,615,330. This is a considerable climb compared to the 3,065,825 in 2022, reflecting an increase of nearly 20%. Consequently, the growing prevalence of diabetes is propelling the onychomycosis market's expansion.
What Are The Primary Segments In The Global Onychomycosis Market?
The onychomycosis market covered in this report is segmented –
1) By Type: Distal Subungual Onychomycosis (DSO), White Superficial Onychomycosis (WSO), Proximal Subungual Onychomycosis (PSO), Candida Onychomycosis, Other Types
2) By Treatment: Drug Treatment, Topical Therapy, Other Treatments
3) By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, Other Distribution Channels
Subsegments:
1) By Distal Subungual Onychomycosis (DSO): Dermatophyte Infections, Mixed Infections
2) By White Superficial Onychomycosis (WSO): Trichophyton Mentagrophytes Infections, Other Non-Dermatophyte Infections
3) By Proximal Subungual Onychomycosis (PSO): Associated with Nail Psoriasis, Fungal Infections In Immunocompromised Patients
4) By Candida Onychomycosis: Candidal Nail Infections, Mixed Fungal-Candida Infections
5) By Other Types: Total Nail Dystrophy, Secondary Onychomycosis
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Which Key Trends Are Driving Changes In The Onychomycosis Market?
The promotion of product invention is an emerging trend in the onychomycosis market. Several prominent companies in the market are creating revolutionary products to maintain their market standing. For example, in January 2024, the US-based biopharmaceutical firm, Vanda Pharmaceuticals Inc., received approval from the Food and Drug Administration (FDA) for their product VTR-297, designed for treating onychomycosis. VTR-297, a small-molecule histone deacetylase (HDAC) inhibitor, specifically demonstrates antifungal force against dermatophytes and other fungi, which are crucial in effectively combating the pathogens that cause onychomycosis. The medication is designed for local application, which allows for direct treatment of affected nails. This centralized delivery system decreases systemic exposure and reduces potential side effects linked with oral antifungal treatments.
Who Are the Key Players in the Onychomycosis Market?
Major companies operating in the onychomycosis market include:
• Pfizer Inc.
• Johnson & Johnson Services Inc.
• Merck & Co. Inc.
• Bayer AG
• Novartis AG
• Sandoz International GmbH
• Bausch Health Companies Inc.
• Perrigo Company plc
• Galderma Laboratories LP
• Aurobindo Pharma Limited
• Cipla Inc.
• Dr.Reddy's Laboratories Ltd.
• Apotex Inc
• Lupin Limited
• Amneal Pharmaceuticals Inc.
• Alembic Pharmaceuticals Inc.
• Kaken Pharmaceutical Co. Ltd.
• Mayne Pharma Group Limited
• Wockhardt Ltd.
• Jubilant Cadista Pharmaceuticals Inc.
• Moberg Pharma AB
• Medimetriks Pharmaceuticals Inc.
• Blueberry Therapeutics Ltd.
• Hallux Inc.
• NovaBiotics Ltd.
• Zydus Cadila Healthcare Limited.
What Is The Most Dominant Region In The Onychomycosis Market?
North America was the largest region in the onychomycosis market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the onychomycosis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
