The dermatophytic onychomycosis treatment market size was valued at USD 4.3 Billion in 2022 and is projected to grow from USD 4.6 Billion in 2023 to USD 8.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.90% during the forecast period (2023 - 2032). Rising prevalence of dermatophytic onychomycosis and presence of potential pipeline candidates are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The prevalence of onychomycosis is one of the key factors driving the market's growth. Onychomycosis infections of the toenails occur far more frequently than those of the fingernails. The increased prevalence of dermatophyte-caused nail fungal infections and a sharp increase in prescriptions are expected to drive the market. According to a press release from Moberg Pharma AB, 35–40 million Americans have nail fungus, making up around 10% of the global population. This is likely to increase demand for the market for treating dermatophytic onychomycosis during the anticipated period. Diabetes is becoming more common, which is another factor behind the growth in dermatophytic infections. The International Diabetes Federation estimates that 463 million people worldwide would have diabetes in 2019, which will help the industry grow.
Pharmaceutical companies have increased their R&D spending significantly in order to discover novel therapies as a result of the increasing prevalence and lack of viable treatments. Many of the topical medications that are now on the market cannot reach the depths of the nail bed, making it impossible to entirely heal the infection. As a result, a lot of businesses are trying hard to find compounds that penetrate the nails deeper in an effort to overcome this difficulty. One biotech company, Hexima, is undertaking a phase I/lla clinical research on HXP124, a plant defensin anti-fungal molecule for the treatment of dermatophytic onychomycosis. Comparing the penetration rates of HXP124 to Kerydin and Jublia, it has been found to be higher. The market for medications to treat dermatophytic onychomycosis is expected to gain significantly from increased research funding and the introduction of promising therapeutic candidates. Thus, driving the Dermatophytic Onychomycosis Treatment market revenue.
The market segments of Dermatophytic Onychomycosis Treatment, based on product type includes tablets and nail paints. It is anticipated that the nail paints category will dominate the market for the entire projection period. The market is anticipated to grow as topical nail lacquers become more commonplace when compared to oral anti-fungal medications and Jublia usage rises. However, the COVID-19 pandemic's influence on Clenafin sales, particularly in Japan, has hurt the nail paints segment's revenue. Due to increased government initiatives to transition to generic medications, it is projected that the tablet market would expand.
The Dermatophytic Onychomycosis Treatment Market segmentation, based on route of administration, includes oral and topical. In 2022, the topical segment accounted for the largest share of the market. Due to the negative side effects of oral medications, such as liver damage, many podiatrists and dermatologists prefer to recommend topical treatments instead. This is likely to accelerate the growth of the tablets market, along with more research into the creation of topical medications. As opposed to topical solutions, oral drugs have better cure rates due to greater penetration and greater efficacy, which is the main driver of the segment's expansion throughout the forecast period.
The market segmentation of dermatophytic onychomycosis treatment, based on type, includes prescribed and over-the-counter (OTC). Due in large part to the steady move toward nail paints and rising sales of ciclopirox for the treatment of dermatophytic onychomycosis, the over-the-counter (OTC) segment dominated the market. The three main drivers of the growth of the prescription category are favorable health reimbursement, an increase in podiatrists, and the prevalence of dermatophytic onychomycosis. The government's decision to close non-emergency OPDs in hospitals and the decline in hospital visits have both had an adverse effect on the prescription segment.
Figure 1: Dermatophytic Onychomycosis Treatment Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Dermatophytic Onychomycosis Treatment Market segmentation, based on distribution channel, includes hospitals, retail pharmacies and online channels. The hospitals category held the largest share due to easy availability to the prescribed medicine and presence of skilled professionals for the treatment.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. In the Regional section, North America was in first place in 2022 (45.8%). The main drivers of the market expansion in North America include the rise in onychomycosis prescriptions, more research, and rising demand for Jublia and Kerydin. The market in North America will grow as a result of the approximately 5 million prescriptions given annually in North America for the treatment of onychomycosis, according to a news release from Moberg Pharma AB. Further, the U.S. market of dermatophytic onychomycosis treatment held the largest market share, and the Canada Dermatophytic Onychomycosis Treatment market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: DERMATOPHYTIC ONYCHOMYCOSIS TREATMENT MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Europe Dermatophytic Onychomycosis Treatment market is the second largest region. The demand for dermatophytic onychomycosis therapy is anticipated to rise in Europe as a result of the increased incidence of onychomycosis, attractive health reimbursement policies, and improved distribution of OTC pharmaceuticals through collaborations with retail pharmacies like Walmart, Walgreens, and others. According to a study that was published in the Journal of the European Academy of Dermatology and Venereology, onychomycosis is 4.3% prevalent in all of Europe. This is expected to stimulate the European market. Further, the German market of Dermatophytic Onychomycosis Treatment held the largest market share, and the UK market of Dermatophytic Onychomycosis Treatment was the fastest growing market in the European region.
The Asia Pacific Dermatophytic Onychomycosis Treatment market is the fastest growing market over the forecast period. Due to the introduction of new products, the rising prevalence of diabetes, and the growing elderly population, the market in Asia Pacific is expected to soar. According to Kaken Pharmaceuticals Co., Ltd., Jublia will be made accessible as a treatment for dermatophytic onychomycosis in Hong Kong beginning in March 2020. The Asia Pacific market is expected to be stimulated by this. Factors including growing patient awareness, rising health spending, and expanding distribution networks are driving the market throughout the rest of the world. Further, China’s market of Dermatophytic Onychomycosis Treatment held the largest market share, and the Indian market of Dermatophytic Onychomycosis Treatment was the fastest growing market in the Asia-Pacific region.
Dermatophytic Onychomycosis Treatment Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their Product Type lines, which will help the market of Dermatophytic Onychomycosis Treatment, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Dermatophytic Onychomycosis Treatment industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Dermatophytic Onychomycosis Treatment industry to benefit clients and increase the market sector. In recent years, the Dermatophytic Onychomycosis Treatment industry has offered some of the most significant advantages to medicine. Major players in the market of Dermatophytic Onychomycosis Treatment, including Bausch Health Companies Inc., Pfizer Inc., Galderma, GlaxoSmithKline plc, Janssen Pharmaceuticals, Inc., Cipla Inc., and Kaken pharmaceuticals Co., Ltd., are attempting to increase market demand by investing in research and development operations.
Generic pharmaceutical goods are produced and distributed by Alembic Pharmaceuticals Ltd (APL), a pharmaceutical company. The company's product line consists of oral solids, oncology OSD, generic formulations, general and oncology injectables, and ophthalmic and dermatology goods. It provides goods for a range of medical treatments, including those for the heart, analgesics, genecology, cough and cold, gastroenterology, ophthalmology, anti-diabetics, orthopedic, urology, and dermatology. APL runs manufacturing sites in the Indian states of Gujarat and Sikkim as well as research labs in Vadodara, Hyderabad, and New Jersey. The company exports its goods to South Africa, Australia, Brazil, India, the US, Canada, and other parts of Europe. The headquarters of APL are in Gujarat, India's Vadodara. Aleor Dermaceuticals Limited (Aleor) 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 in April 2021, according to an announcement made by Alembic Pharmaceuticals Limited (Alembic).
Lupin Ltd. (Lupin) creates and produces biotechnology goods, active pharmaceutical ingredients (APIs), and generic and branded formulations. It has knowledge of cardiovascular, asthma, diabetes management, pediatrics, gastro-intestinal, anti-infectives, nonsteroidal anti-inflammatory medications (NSAIDs), anti-TB, and cephalosporins. It also has knowledge of the central nervous system. The company engages in significant pharmaceutical research and development for the management of migraine, gastrointestinal, psoriasis, cardiovascular, TB, diabetes, inflammation, and other conditions. In addition, Lupin creates generic drugs with added value using its platform technology. The business runs production facilities in Brazil, Mexico, the US, and India together with its subsidiaries. Mumbai, Maharashtra, India is home to the headquarters of Lupin. Lupin Limited gained permission from the US Food and Drug Administration in February 2021 to market its Tavaborole Topical Solution for onychomycosis.
Key Companies in the market of Dermatophytic Onychomycosis Treatment include
Dermatophytic Onychomycosis Treatment Industry Developments
March 2020 -Â Jublia's introduction in Hong Kong was announced by Kaken Pharmaceuticals Co., Ltd..
February 2019 -Â In accordance with a license agreement signed by Moberg Pharma AB and Bayer AG, Bayer AG is in charge of marketing, selling, and distributing MOB-015 in Europe.
July 2018 -Â The introduction of NAILIN in Japan was announced by Sato Pharmaceutical Co., Ltd. and Eisai Co., Ltd.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 4.3 Billion |
| Market Size 2023 | USD 4.6 Billion |
| Market Size 2032 | USD 8.5 Billion |
| Compound Annual Growth Rate (CAGR) | 7.90% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Route of Administration, Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Bausch Health Companies Inc., Pfizer Inc., Galderma, GlaxoSmithKline plc, Janssen Pharmaceuticals, Inc., Cipla Inc., and Kaken pharmaceuticals Co., Ltd. |
| Key Market Opportunities | Gradual shift towards topical solutions |
| Key Market Dynamics | Rising prevalence of dermatophytic onychomycosis and presence of potential pipeline candidates |
Dermatophytic Onychomycosis Treatment Market Highlights:
Frequently Asked Questions (FAQ) :
The Dermatophytic Onychomycosis Treatment Market size was valued at USD 4.3 Billion in 2022.
The global market is projected to grow at a CAGR of 7.90% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Bausch Health Companies Inc., Pfizer Inc., Galderma, GlaxoSmithKline plc, Janssen Pharmaceuticals, Inc., Cipla Inc., and Kaken pharmaceuticals Co., Ltd.
The Nail Paints Product Type dominated the market in 2022.
The Topical Route of Administration had the largest share in the global market.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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