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    Onychomycosis Market

    ID: MRFR/Pharma/0832-CR
    122 Pages
    Rahul Gotadki
    September 2019

    Onychomycosis Market Research Report Information By Type (Distal Subungual Onychomycosis (DSO), White Superficial Onychomycosis (WSO), Proximal Subungual Onychomycosis (PSO), Candida Onychomycosis, Others), By Treatment Type (Drug Treatment, Topical Therapy and Others), By End Users (Hospital Pharmacies, Retail Pharmacies, And Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032

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    Onychomycosis Market Infographic
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    Onychomycosis Market Summary

    As per Market Research Future Analysis, the Global Onychomycosis Market was valued at USD 3.98 Billion in 2023 and is projected to grow to USD 6.07 Billion by 2032, with a CAGR of 5.20% from 2024 to 2032. The market growth is driven by increasing R&D for novel medications, rising chronic diseases, and the high incidence of onychomycosis, which affects approximately 5.5% of the global population. The market is characterized by a significant demand for drug treatments, particularly for distal subungual onychomycosis (DSO), which held around 40% of the market share in 2022. Major players are focusing on strategic partnerships and product launches to enhance their market presence.

    Key Market Trends & Highlights

    The onychomycosis market is witnessing significant growth due to various factors.

    • Onychomycosis affects approximately 5.5% of the global population, accounting for 50% of nail disorder consultations.
    • The Drug Treatment segment dominated the market in 2022 and is expected to grow faster during 2024-2032.
    • North America is projected to exhibit significant CAGR growth due to an aging population and rising diabetes rates.
    • The distal subungual onychomycosis (DSO) segment contributed to around 40% of the market revenue in 2022.

    Market Size & Forecast

    2023 Market Size USD 3.98 Billion
    2024 Market Size USD 4.17 Billion
    2032 Market Size USD 6.07 Billion
    CAGR (2024-2032) 5.20%

    Major Players

    Key players include Almirall S.A., HUYABIO International, Novartis AG, Pfizer, Inc., Galderma Laboratories, Bausch Health Sciences, Moberg Pharma AB, Reddy’s Laboratories Ltd, and others.

    Onychomycosis Market Trends

    Growing Prevalence of dermatophytic onychomycosis to boost market growth

    Onychomycosis' increasing incidence is one of the major factors propelling the market's expansion. Infection of the toenail onychomycosis is far more common than that of the fingernails. The market is anticipated to be driven by the rising prevalence of dermatophyte-caused nail fungal infections and a significant rise in prescriptions. Over 10% of the world's population has onychomycosis, with 35–40 million Americans suffering nail fungus, according to a press release from Moberg Pharma AB. Throughout the anticipated period, this is anticipated to boost demand for the market for treating dermatophytic onychomycosis.

    A further factor contributing to the rise in dermatophytic infection is the rising incidence of diabetes. The World Diabetes Federation estimates that 463 million people worldwide will have diabetes in 2019, which will help the industry grow.

    Because onychomycosis infections are so common worldwide, the necessity for treatments is widely acknowledged. Small research-based pharmaceutical and biotechnology companies are frequently in charge of R&D, while more prominent players are commonly concentrated on more lucrative goods. Also, larger businesses are expanding their antifungal drug portfolio through acquisition tactics. For instance, Pfizer said in November 2021 that it would be making significant expenditures in R&D for antibacterial and antifungal medications to bring new products to market. R&D initiatives are predicted to be accelerated by such spending.

    Commercially accessible antifungal medicines include a sizable variety of tablets, creams, sprays, injections, and oral and topical medications. High demand for these goods and higher acceptance are expected throughout the projected period to promote market expansion for therapies. Therefore, such medical condition has enhanced the market CAGR of Onychomycosis across the globe in the recent years.

    The prevalence of onychomycosis continues to rise globally, necessitating innovative treatment solutions and increased awareness among healthcare providers and patients alike.

    Centers for Disease Control and Prevention (CDC)

    Onychomycosis Market Drivers

    Aging Population

    The aging demographic is a significant driver of the Global Onychomycosis Market Industry. As the global population ages, the incidence of onychomycosis is likely to rise due to factors such as decreased immunity and poor circulation among older adults. This demographic shift is expected to create a larger patient base requiring treatment, thereby stimulating market growth. The increasing number of elderly individuals, particularly in developed countries, suggests a sustained demand for antifungal therapies, contributing to the projected CAGR of 4.91% from 2025 to 2035.

    Market Growth Charts

    Growing Awareness and Education

    Increased awareness and education regarding onychomycosis are vital factors influencing the Global Onychomycosis Market Industry. Public health campaigns and educational initiatives by healthcare organizations aim to inform individuals about the symptoms, risks, and treatment options available for fungal nail infections. As awareness grows, more patients are likely to seek medical advice and treatment, thereby expanding the market. This trend is particularly evident in regions where healthcare access is improving, leading to a projected market value of 7.07 USD Billion by 2035, indicating a robust demand for effective solutions.

    Advancements in Treatment Options

    Innovations in antifungal therapies and treatment modalities are propelling the Global Onychomycosis Market Industry forward. Recent developments include the introduction of novel oral and topical antifungal agents that demonstrate enhanced efficacy and reduced side effects. For instance, the emergence of laser therapy as a non-invasive treatment option has garnered attention for its potential to eradicate fungal infections effectively. These advancements not only improve patient outcomes but also drive market growth, as healthcare providers and patients increasingly adopt these new therapies in their treatment regimens.

    Increase in Healthcare Expenditure

    Rising healthcare expenditure across various regions is positively impacting the Global Onychomycosis Market Industry. Governments and private sectors are investing more in healthcare infrastructure and services, leading to improved access to treatments for onychomycosis. This increase in funding allows for better diagnostic tools and treatment options, which may enhance patient outcomes. As healthcare systems evolve and expand, the market is likely to benefit from increased patient engagement and treatment adherence, further driving growth in the coming years.

    Rising Prevalence of Onychomycosis

    The increasing incidence of onychomycosis globally is a primary driver for the Global Onychomycosis Market Industry. It is estimated that approximately 10% of the population suffers from this fungal nail infection, with rates rising in older adults due to age-related factors. This growing prevalence is expected to contribute significantly to the market's expansion, as more individuals seek treatment options. The Global Onychomycosis Market Industry is projected to reach 4.17 USD Billion in 2024, reflecting the urgent need for effective therapies and interventions to address this widespread condition.

    Market Segment Insights

    Onychomycosis Type Insights

    The Market segments of Onychomycosis, based on Type, includes distal subungual onychomycosis (DSO), white superficial onychomycosis (WSO), proximal subungual onychomycosis (PSO), candida onychomycosis, and others. The distal subungual onychomycosis (DSO) segment held the majority share in 2022, contributing to around ~40% of the Onychomycosis Market revenue. The segment's dominance is linked to the FDA's clearance of more generic drugs due to rising demand and rising generic prevalence. Additionally, more pharmaceuticals are in the pipeline to address the increased demand for effective medications.

    For instance, in March 2020, NovaBiotics Ltd., a clinical-stage biotechnology business based in the United Kingdom, provided updated clinical information on the safety and effectiveness of Novexatin. A novel antifungal peptide called NP213 (Novexatin) was discovered to treat individuals with severe DSO. An unnamed business has been granted a license to use NP213 throughout Europe and Japan as of February 2021. The company anticipates that in 2022, with the assistance of its partner, it will advertise its product through direct-to-consumer healthcare channels, including retail pharmacies.

    Onychomycosis Treatment Type Insights

    The Onychomycosis Market data has been bifurcated by treatment type into drug treatment, topical therapy, and others. The Drug Treatment segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2032. Terbinafine, ciclopirox, Jublia, Fluconazole, Penlac, ciclodan, ketoconazole, Sporanox, Itraconazole, Kerydin, efinaconazole, griseofulvin, and others are some of the medications that can be used to treat onychomycosis. Drugs continue to be the first-line therapeutic option for onychomycosis treatment and hold a significant market share due to a continuously high success rate.

    Figure 1: Onychomycosis Market, by Treatment Type, 2022 & 2032 (USD billion)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Topical treatments require substantially longer treatment times but have less effective cure rates and less severe side effects. Moreover, new topical formulations that respond more quickly than currently existing topical medicines are being studied. Topical formulations, on the other hand, have low cure rates and are useless because they can't get through the nail plate to the infected nail bed in sufficient concentration to kill the fungus, necessitating debridement of the nail plate before administration. 

    Onychomycosis End User Insights

    Based on End Users, the global Onychomycosis industry has been divided into retail pharmacies, hospital pharmacies, and others. Retail Pharmacies held the most significant segment share in 2022, Due to rising OTC drug sales, rising diabetes and fungal nail infection rates, and increasing OTC drug sales.

    The fastest-growing segment in the Onychomycosis industry is hospital pharmacies due to the rise in privately operated clinics and the growing number of dermatologists and podiatrists.The Swift device from Emblation will be used in the trial in Canada, which MediProbe is running. Onychomycosis, sometimes known as toenail fungus, is being treated in a clinical trial in Canada launched by the Scottish medical technology company Emblation. Three patient groups will participate in the experiment being run by MediProbe Research with Emblation as a collaborator. Each group will get a different course of treatment. Antifungal lotions are currently the mainstay therapies.

    According to Emblation, there are worries that some fungal strains are becoming resistant to treatments that are already being employed.

    Get more detailed insights about Onychomycosis Market Research Report - Forecast till 2032

    Regional Insights

    The analysis provides market information for North America, Asia-Pacific, Europe, and the rest of the world, organised by region. The North America Onychomycosis market is expected to exhibit a significant CAGR growth during the study period. Due to the region's increased senior population, high cost of medications, and rising rates of onychomycosis and diabetes in the patient population. In 2020, the Census Bureau projected that more than 55 million Americans are 65 or older, with one-fourth of them residing in one of the three states of California, Florida, or Texas.

    The remaining seven states—Georgia, Illinois, Michigan, and New York—represent another quarter of the population 65 and over.

    Further, the significant countries studied in the market report are The U.S., Italy, Canada, Germany, France, the UK, Spain, China, Japan, India, Australia, South Korea, and Brazil.

    Figure 2: ONYCHOMYCOSIS MARKET SHARE BY REGION 2022 (%)ONYCHOMYCOSIS MARKET SHARE BY REGION 2022

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Europe's Onychomycosis market accounts for the second-largest market share. Due to the rising incidence of onychomycosis, favorable health reimbursement policies, and enhanced distribution of OTC medications through partnerships with retail pharmacies like Walmart, Walgreens, and others, the need for dermatophytic onychomycosis therapy is projected to increase. Further, the Germany market of Onychomycosis held the largest market share, and the UK market of Onychomycosis was the fastest-growing market in the European region

    From 2024 to 2032, the fastest CAGR is anticipated to be seen in the Asia-Pacific Onychomycosis Market. This is proliferating due to new product introductions, an increase in diabetes incidence, and a rise in the number of older adults. Jublia will be made available as a treatment for dermatophytic onychomycosis in Hong Kong starting in March 2020, according to Kaken Pharmaceuticals Co., Ltd. This is anticipated to stimulate the Asia Pacific market. The market in the rest of the globe is being driven by factors such as expanding distribution networks, growing patient awareness, and rising health spending.

    Moreover, the China market of Onychomycosis held the largest market share, and the India market of Onychomycosis was the fastest-growing market in the Asia-Pacific region.

    Key Players and Competitive Insights

    Top market companies are investing a lot of money in R&D to expand their product offerings, which will spur further growth in the onychomycosis industry.  With significant market developments like new product releases, mutual arrangements, mergers and acquisitions, more significant investment, and partnerships with other companies, market participants are also undertaking various strategic activities to expand their global presence. To grow and compete in a more cutthroat and competitive market climate, Onychomycosis business competitors must provide affordable products.

    Manufacturing locally to cut operational costs is one of the leading business tactics companies use in the global onychomycosis industry to benefit customers and expand the market sector. In recent years, Onychomycosis industry has provided medicine with some of the most significant benefits. Major players in the onychomycosis industry, including Almirall S.A., HUYABIO International, and others, are attempting to increase market demand by funding R&D initiatives.

    Founded in 1943, the Spanish pharmaceutical company Almirall, S.A. has its main office in Barcelona. It had a total revenue of €859.3 million in 2016, making it Spain's top pharmaceutical business in terms of R&D investment. In September 2021, Alembic Pharmaceuticals Limited (Alembic) announced that its joint venture Aleor Dermaceuticals Limited (Aleor) had received tentative approval from the US Food & Drug Administration (US FDA) for its abbreviated new drug application (ANDA) for Efinaconazole Topical Solution for the treatment of onychomycosis in the toenail.

    Also, HUYABIO has developed into a pioneer in bringing China's pharmaceutical innovation abroad. Using the skills of Chinese researchers and advancing their discoveries is necessary to meet the problem of unmet medical needs in the future.  In September 2021, For the treatment of onychomycosis, HUYABIO International and its joint venture, Tianjin Institute of Pharmaceutical Research, submitted an NDA for Jublia, which contains the drug efinaconazole.

    Key Companies in the Onychomycosis Market market include

    Industry Developments

    • Q2 2024: FDA Approves New Antifungal Therapy for Onychomycosis The FDA granted approval to a new antifungal therapy specifically indicated for the treatment of onychomycosis, expanding available options for patients with fungal nail infections. This regulatory milestone is expected to drive innovation and adoption in the sector.[3]

    Future Outlook

    Onychomycosis Market Future Outlook

    The Global Onychomycosis Market is projected to grow at a 4.91% CAGR from 2024 to 2035, driven by increasing prevalence, advancements in treatment options, and rising awareness.

    New opportunities lie in:

    • Develop novel antifungal therapies targeting resistant strains.
    • Expand telemedicine services for remote diagnosis and treatment.
    • Invest in educational campaigns to raise awareness about onychomycosis prevention.

    By 2035, the Onychomycosis Market is expected to exhibit robust growth, reflecting evolving treatment paradigms and heightened consumer awareness.

    Market Segmentation

    Onychomycosis Type Outlook

    • Distal Subungual Onychomycosis (DSO)
    • White Superficial Onychomycosis (WSO)
    • Proximal Subungual Onychomycosis (PSO)
    • Candida Onychomycosis
    • Others

    Onychomycosis End User Outlook

    • Hospital Pharmacies
    • Retail Pharmacies
    • Others

    Onychomycosis Regional Outlook

    North America
    • US
    • Canada

    Onychomycosis Treatment Type Outlook

    • Drug Treatment
    • Topical Therapy Others

    Report Scope

    Attribute/Metric Details
    Market Size 2023 USD 3.98 billion
    Market Size 2024 USD 4.17 billion
    Market Size 2032 USD 6.07 billion
    Compound Annual Growth Rate (CAGR) 5.20% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2019 - 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Type, Treatment Type, End User, and Region
    Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
    Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled Novartis AG (Switzerland), Pfizer, Inc. (the US), Galderma Laboratories (Switzerland), Bausch Health Sciences (Canada), Moberg Pharma AB (Sweden), Dr. Reddy’s Laboratories Ltd (India), Medimetriks Pharmaceuticals, Inc. (US), Merz Pharma (Germany), Kaken Pharmaceutical Co., Ltd (Japan), Johnson & Johnson Services, Inc. (US), GlaxoSmithKline plc (UK), and Taro Pharmaceuticals Industries Ltd (Israel)
    Key Market Opportunities ·         Gradual Shift towards Topical Solutions
    Key Market Dynamics ·         Rising Worldwide Prevalence Of Onychomycosis ·         Rising Per Capita Healthcare Expenditure ·         Surging Diabetic Patient Population

    Market Highlights

    Author
    Rahul Gotadki
    Assistant Manager

    He holds an experience of about 7+ years in Market Research and Business Consulting, working under the spectrum of Life Sciences and Healthcare domains. Rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. His expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. In addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives

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    FAQs

    How much is the Onychomycosis market?

    The Onychomycosis Market size was valued at USD 3.98 Billion in 2023.

    What is the growth rate of the Onychomycosis market?

    The global market is projected to grow at a CAGR of 5.20% during the forecast period, 2024-2032.

    Which region held the largest market share in the Onychomycosis market?

    North America had the largest share in the global market.

    Who are the key players in the Onychomycosis market?

    The key players in the market are Novartis AG (Switzerland), Pfizer, Inc. (the US), Galderma Laboratories (Switzerland), Bausch Health Sciences (Canada), Moberg Pharma AB (Sweden).

    Which Type led the Onychomycosis market?

    The Distal Subungual Onychomycosis (DSO) category dominated the market in 2022.

    Which Treatment Type had the largest market share in the Onychomycosis market?

    The Topical Therapy had the largest share in the global market.

    Onychomycosis Market Research Report - Forecast till 2032 Infographic
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