Rising Diabetic Population Fuels Onychomycosis Market Growth: Powering Innovation and Expansion in the Onychomycosis Market by 2025

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What Is the Expected CAGR for the Onychomycosis Market Through 2025?
In recent times, the onychomycosis market has experienced robust growth. It is projected to expand from $3.63 billion in 2024 to $3.83 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.4%. The growth seen in the historical period can be traced back to factors such as a limited number of treatment alternatives, a rise in the elderly population, a higher incidence of diabetes, the broadening of the pharmaceutical sector, and increased recognition of fungal infections.

What's the Projected Size of the Global Onychomycosis Market by 2029?
In the coming years, the onychomycosis market is projected to experience significant growth, reaching $4.81 billion in 2029, with a compound annual growth rate (CAGR) of 5.9%. The growth over the forecast period can be linked to the use of combination drug therapies, increased healthcare spending, expanding awareness efforts about onychomycosis, the rise of telemedicine services, and improvements in topical drug formulations. Key trends over the forecast period include the incorporation of digital technologies in diagnosing and managing onychomycosis, an uptick in over-the-counter (OTC) antifungal products, introductions of patient-friendly treatment plans, a focus on personalized medicine in the treatment of onychomycosis, and cooperation amongst pharmaceutical companies for research and development.

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Top Growth Drivers in the Onychomycosis Industry: What's Accelerating the Market?
The increasing number of individuals with diabetes is anticipated to drive the expansion of the onychomycosis market. Diabetes, a chronic disease that results from the pancreas not synthesizing enough insulin or the body not using insulin effectively, can lead to onychomycosis, a frequent issue for diabetics. The management and prevention of complications related to onychomycosis assist in managing this issue. Therefore, the upward trend in diabetes prevalence is creating a demand lift for the onychomycosis market. For instance, in June 2024, the National Health Service, a UK government-based organization, reported that in 2023, they identified over half a million (549,000) more individuals in England who are prone to developing type 2 diabetes. This announcement brought the total count of people with non-diabetic hyperglycemia, or pre-diabetes, registered with a GP to 3,615,330. There's a noticeable growth compared to 3,065,825 in 2022, recording a rise of nearly 20%. Subsequently, the increasing prevalence of diabetes is pushing the onychomycosis market to grow.

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What Trends Will Shape the Onychomycosis Market Through 2029 and Beyond?
The innovation of products is an important trend that is becoming increasingly popular in the onychomycosis market. Major companies in the onychomycosis market are crafting novel products to maintain their market stance. For instance, Vanda Pharmaceuticals Inc., a biopharmaceutical firm based in the United States, announced in January 2024, that the Food and Drug Administration (FDA) approved their product VTR-297 for the treatment of onychomycosis. VTR-297, a histone deacetylase (HDAC) inhibitor, is a small molecule that has specific antifungal activity against dermatophytes and other fungi, the key pathogens causing onychomycosis. This drug is meant for topical use, which allows it to be directly applied on the affected nails. The localized delivery system reduces systemic exposure and potential side effects linked to oral antifungal treatments.

What Are the Main Segments in the 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 Top Companies are Driving Growth 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.

Which Regions Will Dominate the Onychomycosis Market Through 2029?
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.

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