Onychomycosis Treatment Market Size & Share Analysis

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Onychomycosis Treatment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $4.73 billion In 2028 At A CAGR Of 6.7% :

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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Onychomycosis Treatment Market Major Segments
The onychomycosis treatment market covered in this report is segmented -

1) By Type: Distal Sublingual Onychomycosis; White Superficial Onychomycosis; Proximal Sublingual Onychomycosis; Candida Onychomycosis; Other Types
2) By Treatment Type: Drugs; Laser Therapy; Photodynamic Therapy
3) By Age Group: 0 To 18 Years; 18 To 39 Years; 40 To 64 Years; 65 Years And Above
4) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Other Distribution Channels

Key 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.

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Prominent 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.

Onychomycosis Treatment Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the onychomycosis treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in onychomycosis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Onychomycosis Treatment Market Report Structure
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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