Global Onychomycosis Market Projected To Grow Radiantly By 2030; Asserts MRFR Unleashing Industry Forecast

Pune, India, December, 2022/MRFR Press Release/- Market Research Future published a Half-Cooked Research Report on “Global Onychomycosis Market Research Report - Forecast to 2030” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2030.

Global Onychomycosis Market - Overview

The global onychomycosis market is expected to grow at a CAGR of 6.29% during forecasted period 2023-2030 to reach USD 4.90 Billion by 2030.

Onychomycosis is a fungal contamination of the toe or finger nails, which results in discoloration, thickening, and partition of the nails from the nail bed. Despite the fact that it is not life-threatening, onychomycosis which more often created by a dermatophyte constitutes a vital public wellbeing issue in view of its high prevalence and related morbidity. The disease can have certain negative results for patients, for example, torment, and can possibly undermine work and social lives.

Onychomycosis which is also known as fungal infection of the nail, for most of the patient’s it is a cosmetic issue rather than a medical disease, thus patients seek help from cosmetic specialist and ignore the medical attention the disease needs. Onychomycosis causes pain, emotional, social and occupational discomfort, and permanent damage to the nail which spreads the infection. Onychomycosis is responsible for 50% to 60% of the nail disease and is classified into various types like Distal Subungal Onychomycosis (DSO), White Superficial Onychomycosis (WSO), Proximal Subungal Onychomycosis (PSO), Total Dystrophic Onychomycosis (TDO), Endonyx Onychomycosis (EO).

There are other diseases which are known to damage the nail which include dermatophytes, molds and yeasts, but these diseases are not fungal from its source these diseases are caused by other medical conditions like work in wet conditions, trauma, HIV-AIDS, old age, psoriasis, atopic dermatitis among others.

The prevalence of onychomycosis is classified by disease type, by gender and by age. By prevalence in gender it is discovered that the male populations is more effected by this disease then the female population. Approximately 65% to 70% of the adult male population is prone to be affected by this disease compared to 30% to 35% of the adult female population.

Onychomycosis in children has been observed to be very less when compared to that of adults, prevalence rate in children is found out to be approximately 2% to 3% with comparison to adults who are more than 40 years having a prevalence rate in the range of 7-10%.

Global Onychomycosis Market - Competitive Analysis

Characterized by the presence of several well-established and small players, the global market of Onychomycosis appears to be highly competitive and fragmented. With well-established market in the North America region major companies have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other emerging regions as well. Moreover the other small and medium scale players are generating revenue from local market.

Novartis AG is accounted for major market share for global onychomycosis market, with more than ~25% of market share. The large share of the company is attributed to the high demand for onychomycosis drugs Lamisil which is effective and the price of the drug is less when compared to other major drugs in the US Onychomycosis market. Moreover this company has a strong sales and distribution network.

GlaxoSmithKline plc. is a UK based company and world's sixth largest pharmaceutical company. Company is focusing on the development of new oral and tropical medication. Itraconazole and many tropical creams are manufactured by the company.

Pfizer Inc. is an American pharmaceutical corporation headquartered in U.S. and is among the world's largest pharmaceutical companies. It’s one of the leading player for the onychomycosis market. Company is has recently launched some of the drugs for the treatment of different skin diseases. In 2016, company had launched Eucrisa ointment and Diflucan. Crisaborole has got most prominent results in Phase 3 clinical trials and company believes peak year sales for crisaborole have the potential to reach or exceed $2.0 billion. In same year company had acquired Anacor Pharmaceuticals, Inc. which is a biopharmaceutical company focused on discovering and developing novel small-molecule therapeutics.

Explore In-depth Details: Onychomycosis Market Research Report

Global Onychomycosis Market -

Regional Analysis

Global Onychomycosis market is segmented on the basis of geographies or regions which mainly includes North America, Europe, Asia Pacific, and Middle East & Africa. North America is dominating the global market for Onychomycosis due to presence of major market players, increasing patient population. Moreover, increasing geriatric population will boost the market growth. Europe holds the second largest share of the global Onychomycosis market. Asia Pacific is the fastest growing Onychomycosis stimulation market across the globe. In Asia-Pacific there is wide range of opportunities for Onychomycosis market due to the presence of developing countries, major companies are grabbing these opportunities and expanding their presence in the region. Furthermore increasing research and development in this region has further enhanced the growth of the market. However, the Middle East & Africa holds the least share of the global market due to limited availability of medical facilities.

Abbott Laboratories Ltd. (US), GlaxoSmithKline Plc. (UK), Pfizer Inc. (US), Valeant Pharmaceuticals (Canada), Galderma (Switzerland), Janssen Biotech (US), Sciton Inc (US), Bristol Meyer Squibb company (US), Cutera Inc. (US), Novartis AG (Switzerland), Sanofi Ltd. (France), Topica Pharmaceuticals Inc. (US), Taro Pharmaceutical Industries Ltd. (US), Seren Pharmaceuticals Pvt. Ltd (China), Nuvo Research Inc. (Canada), Merz Pharma gmbh & co. kgaa (Germany), NanoBio Corporation (US), NovaBiotics Ltd (UK), Viamet Pharmaceuticals Inc. (US), Polichem SA (Switzerland) are some of the prominent players at the forefront of competition in the Global Onychomycosis Market and are profiled in MRFR Analysis.