ID: MRFR/Pharma/0832-CR | September 2019 | Region: Global | 122 pages
The Global Onychomycosis Market is expected to register a CAGR of 6.28% to reach 7,912.5 million by 2025. Onychomycosis refers to the fungal infection of the nail. The global onychomycosis market is expected to exhibit lucrative growth during the forecast period. Some of the major factors characterizing the market growth are the rising worldwide prevalence of onychomycosis, rising per capita healthcare expenditure, surging diabetic patient population, and increasing prevalence of peripheral artery disease (PAD). On the contrary, the side-effects associated with onychomycosis treatment drugs as well as lack of awareness about onychomycosis are anticipated to limit the market growth over the forecast period.
Onychomycosis also called tinea unguium, is a fungal infection of the toenails or fingernails that may involve any component of the nail unit, including the matrix, bed, or plate. An article published in the Journal of Tropical Medicine stated that, presently, the prevalence of onychomycosis mainly caused by nondermatophyte molds is increasing around the globe. The aging population, increased consumption of immunosuppressive-drugs-market-8228'>immunosuppressive drugs, rising prevalence of diseases such as human immunodeficiency virus (HIV) and diabetes that suppress the immune- status of patients, increased exposure to spas and public swimming pools, wearing tight-fitting shoes and clogs, and wearing sweaty footwears have been the factors for the rise in the incidence of mycoses. Onychomycosis represents 20% to 40% of all onycho-pathies around the globe. An article published on the ScienceDirect stated that, at present, worldwide onychomycosis prevalence ranges from 2% to 50%, and it represents approximately 30% of superficial mycotic infections and 50% of all nail disorders. Additionally, onychomycosis mainly affects adults between 30 and 60 years of age. Thus, this increasing prevalence of onychomycosis across the world is fueling the demand for treatment drugs and therapies around the globe, thereby supporting the market growth.
Global Onychomycosis Market Share, by Distribution Channel, 2018 (%)
Source: MRFR Analysis
The global onychomycosis market, by type, has been segmented into distal subungual onychomycosis (DSO), white superficial onychomycosis (WSO), proximal subungual onychomycosis (PSO), candida onychomycosis, and others. Based on treatment type, the global onychomycosis market has been segmented into drug treatment, topical therapy, and others. The global onychomycosis market, by distribution channel, has been segmented into hospital pharmacies, retail pharmacies, and others. The retail pharmacies segment held a share of 35.8% in 2018.
Asia-Pacific Onychomycosis Market Share, 2018 (%)
Source: MRFR Analysis
The global onychomycosis market, based on region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is expected to hold the largest share of the global onychomycosis market. This owes to the presence of key market participants, sophisticated healthcare infrastructure, increasing prevalence of onychomycosis and peripheral artery disease, rising per capita healthcare expenditure, and a surge in the diabetic patient population.
Europe is also expected to hold a substantial market share in the coming years. This is attributed to the rising geriatric population and increasing burden of diabetes, flourishing pharmaceutical industry, and growing occurrence rates of onychomycosis in the UK, Germany, France, and Spain.
Asia-Pacific is estimated to be the fastest-growing region in the global market due to the presence of huge older population, rapidly developing medical technology, growing disposable income, availability of drugs, and high unmet clinical needs. India held a share of 12.57% in onychomycosis market in 2018.
The onychomycosis market in the Middle East and Africa is expected to witness a modest market growth rate from 2019 to 2025. The Middle East would lead the market growth, attributing to facts such as increasing partnerships or agreements to commercialize onychomycosis products, developing healthcare infrastructure, booming medical tourism, budding healthcare industry, and growing awareness about onychomycosis and its treatment drugs and therapies.
The prominent players in the global onychomycosis market are 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), among others.
Some of the key strategies followed by players operating in the global onychomycosis market were innovation, product development, and acquisition & mergers.
Global Onychomycosis Market, by Type
Global Onychomycosis Market, by Treatment Type
Global Onychomycosis Market, by Distribution Channel
Global Onychomycosis Market, by Region
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Frequently Asked Questions (FAQ) :
Onychomycosis Market CAGR would be 6.28% during the forecast period.
Hike in healthcare expenditure, increasing diabetic patient population, and surge in prevalence in peripheral artery diseases (PAD) can drive Onychomycosis Market growth.
Side-effects of the drugs and lack of awareness can prevent Onychomycosis Market growth.
Retail pharmacies ruled Onychomycosis Market in 2018.
The Americas would dominate Onychomycosis Market.