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Onychomycosis Treatment Market Report 2024: Strategies And Recent Developments | Johnson & Johnson Services Inc., Bristol-Myers Squibb Company, Viatris Inc., Teva Pharmaceutical Industries Ltd., Hetero Drugs Ltd.
Onychomycosis Treatment Market Trends
The Business Research Company offers in-depth market insights through Onychomycosis Treatment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The onychomycosis treatment market size has grown strongly in recent years. It will grow from $3.39 billion in 2023 to $3.65 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing fungal infections, aging population, public awareness, rising prevalence of onychomycosis, rising disposable incomes
.
The onychomycosis treatment market size is expected to see strong growth in the next few years. It will grow to $4.73 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to aging population, telemedicine expansion, combination therapies, increasing access to healthcare, changing lifestyles and environmental factors, increasing prevalence of diabetes. Major trends in the forecast period include dermatological advancements, drug delivery innovations, personalized treatment plans, topical treatment advances, digital health solutions, laser therapy.
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Market Segmentation:
The main types of onychomycosis are distal sublingual onychomycosis, white superficial onychomycosis, proximal sublingual onychomycosis, candida onychomycosis and others. Distal sublingual onychomycosis is a fungal nail infection affecting the undersurface of the nail tip, typically caused by dermatophyte fungi. Various types of treatments include drugs, laser therapy and photodynamic therapy, which are used to treat various age groups, including 0 to 18 years, 18 to 39 years, 40 to 64 years and 65 years and above. Several distribution channels are included, such as hospital pharmacies, retail pharmacies and others.
Onychomycosis Treatment Global Market Report 2023 provides data on the global onychomycosis treatment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors' revenues, profiles and market shares. The onychomycosis treatment market report identifies opportunities and strategies based on market trends and leading competitors' approaches.
Major Driver - Surge In Fungal Infections Fueling Growth In The Onychomycosis Treatment Market
The increasing number of fungal infections is expected to propel the growth of the onychomycosis treatment market going forward. Fungal infections are microbial diseases caused by various fungi, affecting different body parts or causing specific conditions. Onychomycosis (a fungal nail infection) is typically treated with oral antifungal medications or topical antifungal solutions to eliminate the underlying fungal growth and restore healthy nail growth. For instance, in March 2023, according to the Centers for Disease Control and Prevention, a US-based government agency, in 2021, 3,270 clinical cases and 7413 screening cases of C. auris were recorded in the United States. Furthermore, in March 2023, according to the Centers for Disease Control and Prevention (CDC), a US-based national public health agency, the total number of deaths from fungal infections increased from 5,922 in 2020 to 7,199 in 2021. Therefore, the increasing number of fungal infections is driving the growth of the onychomycosis treatment market.
Competitive Landscape:
Major players in the onychomycosis treatment market are Johnson & Johnson Services Inc., Bristol-Myers Squibb Company, Viatris Inc., Teva Pharmaceutical Industries Ltd., Hetero Drugs Ltd., Sun Pharmaceutical Industries Limited, Cadila Pharmaceuticals Ltd., Dr. Reddys Laboratories Ltd., Intas Pharmaceuticals Limited, Cipla Limited, Lupin Limited, Glenmark Pharmaceuticals Ltd., Aurobindo Pharma Limited, Alkem Laboratories Limited, Jubilant Life Sciences Ltd., Torrent Pharmaceuticals Ltd., Mankind Pharma Ltd., Biocon Limited, Emcure Pharmaceuticals Limited, Alembic Pharmaceuticals Ltd., Laurus Labs Limited, Strides Pharma Science Limited, Aarti Drugs Ltd., NATCO Pharma Ltd., Unichem Laboratories Ltd., Indoco Remedies Ltd., Apex Laboratories Pvt. Ltd., Wockhardt Ltd., Nuray Chemicals Private Limited.
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Top Trend - Increasing Focus On Innovative Product Approval To Gain A Competitive Edge
Major companies operating in the onychomycosis treatment market are focused on developing new products, such as MOB-015 and getting them approved by federal agencies to gain a competitive edge in the market. For instance, in June 2023, Moberg Pharma AB, a Sweden-based pharmaceutical company, received approval for MOB-015 in the European Union for treating mild to moderate fungal infections of the nails in adults. The European Union's approval marks the innovative onychomycosis medication's first global marketing authorization. Two Phase 3 trials supporting MOB-015's approval demonstrated improved mycological cure (76% vs. up to 42% for comparators) and a much greater total cure rate than the vehicle, all without experiencing any serious adverse effects. The topical terbinafine formulation MOB-015 allows effective terbinafine concentrations to reach the nail and nail bed without the risk of systemic exposure associated with oral terbinafine treatment.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Onychomycosis Treatment Market Characteristics
3. Onychomycosis Treatment Market Trends And Strategies
4. Onychomycosis Treatment Market - Macro Economic Scenario
5. Onychomycosis Treatment Market Size And Growth
…..
27. Onychomycosis Treatment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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