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Key Players and Competitive Dynamics in the Onychomycosis Treatment Market
Onychomycosis Treatment
Projected Market Growth and Size of the Onychomycosis Treatment Market
The onychomycosis treatment market is expected to grow substantially, reaching $5.1 billion by 2029. This represents a compound annual growth rate (CAGR) of 6.9% over the forecast period. Several factors are propelling this growth, including an aging population, wider adoption of telemedicine, the rise of combination therapies, improved healthcare access, lifestyle changes, environmental influences, and an increasing prevalence of diabetes. Upcoming trends are also set to influence the market, such as advancements in dermatology, innovations in drug delivery systems, personalized treatment approaches, progress in topical therapies, the integration of digital health solutions, and the use of laser therapy.
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Major Contributors to the Onychomycosis Treatment Market
Several leading pharmaceutical companies dominate the onychomycosis treatment landscape. These include Johnson & Johnson Services Inc., Bristol-Myers Squibb Company, Viatris Inc., Teva Pharmaceutical Industries Ltd., and Hetero Drugs Ltd. Other prominent players are Sun Pharmaceutical Industries Limited, Cadila Pharmaceuticals Ltd., Dr. Reddys Laboratories Ltd., Intas Pharmaceuticals Limited, Cipla Limited, Lupin Limited, Glenmark Pharmaceuticals Ltd., Aurobindo Pharma Limited, and Alkem Laboratories Limited. Additional key participants include 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., and Nuray Chemicals Private Limited.
Strategic Acquisition Impacting Market Presence
In a significant move in August 2023, Karo Healthcare AB, a consumer healthcare firm based in Sweden, acquired Lamisil from Haleon PLC for approximately $297.86 million. This acquisition strengthens Karo Healthcare's position in the over-the-counter segment and broadens its foot health product portfolio. It also enhances the company's geographic footprint and market share in the foot health category. Lamisil, an oral antifungal medication widely used to treat onychomycosis, originally belonged to Haleon PLC, a UK-based healthcare company specializing in onychomycosis treatments.
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Emerging Trends Shaping the Onychomycosis Treatment Market
Key players in the onychomycosis treatment sector are focusing on innovative product development to stay competitive. One example is Moberg Pharma AB, a pharmaceutical company from Sweden, which received European Union approval in June 2023 for its new drug, MOB-015. This topical treatment targets mild to moderate fungal nail infections in adults and marks the first global marketing authorization for the product.
Clinical trials supporting MOB-015 demonstrated significant effectiveness, with a 76% mycological cure rate compared to up to 42% for comparator treatments. The drug also showed a markedly higher total cure rate without any serious side effects. MOB-015 delivers terbinafine directly to the nail and nail bed, avoiding the systemic exposure risks associated with oral terbinafine therapies, thereby offering a safer and targeted treatment option.
Comprehensive Market Segmentation for Onychomycosis Treatments
This report divides the onychomycosis treatment market into several key segments:
1) By Type of Onychomycosis:
- Distal Sublingual Onychomycosis
- White Superficial Onychomycosis
- Proximal Sublingual Onychomycosis
- Candida Onychomycosis
- Other Types
2) By Treatment Modality:
- 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
This segmentation provides a detailed framework for understanding the market's scope and highlights the diverse treatment options and delivery channels that cater to various patient needs across age groups and disease types.
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