The global onychomycosis market size is expected to reach USD 5,689.46 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.6% during the forecast period.
Onychomycosis, a fungal infection of the nails, is one of the most common nail disorders affecting people worldwide. It can cause nail discoloration, thickening, and deformity, leading to discomfort and, in severe cases, loss of the nail. Onychomycosis primarily affects toenails, but fingernails can also be involved. The disease is caused by dermatophytes, yeasts, and non-dermatophyte molds, with Trichophyton rubrum being the most common causative organism.
Market Growth Drivers
- Increasing Incidence of Onychomycosis
- The growing prevalence of onychomycosis, particularly among the aging population, is a significant driver of market growth. Conditions such as diabetes, which compromise immune function, also contribute to the rising incidence of the disease.
- Aging Population
- The elderly are more prone to onychomycosis due to factors like reduced circulation, weaker immune systems, and long-term health conditions such as diabetes. As the global population ages, the demand for treatments for age-related conditions like onychomycosis is increasing.
- Advancements in Treatment Modalities
- Innovations in drug formulations, drug delivery systems, and non-invasive treatments like laser therapy have expanded the available treatment options for onychomycosis, leading to better patient outcomes and increased treatment adoption.
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Key companies in the onychomycosis market include:
- Abbott
- Bausch Health Companies Inc.
- Cipla Inc.
- Merck & Co., Inc.
- Moberg Pharma AB
- Novartis AG
- Pfizer Inc.
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
- Zydus Lifesciences
Challenges in the Market
- High Cost of Treatment
- Some advanced treatments, especially laser therapy and oral antifungal medications, can be expensive, limiting access in lower-income regions and for uninsured individuals.
- Recurrence of Infections
- Even after treatment, onychomycosis can recur, especially in patients with compromised immune systems or underlying conditions, such as diabetes. This reduces the long-term success rates of treatments and impacts patient satisfaction.
- Side Effects of Oral Medications
- Oral antifungal drugs can have side effects, including liver toxicity and drug interactions, which may limit their use, particularly in older adults or those with pre-existing liver conditions.
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The regional analysis section sheds light on the industry trends and [KEYWORD] market dynamics across different geographic regions. It examines all the major factors shaping the market behavior globally. These include economic conditions, regulatory frameworks, and cultural influences. Besides, the impact of consumer preferences on market growth has been examined in the report. Regional analysis helps stakeholders identify market opportunities and challenges at the regional level. Also, regional analysis enables businesses to devise strategies to capitalize on specific industry trends and conditions. Along with all the major regions, an in-depth analysis of all the major sub-regions has been provided in the study.
Onychomycosis Type Outlook
- Distal Subungual Onychomycosis
- Proximal Subungual Onychomycosis
- White Superficial Onychomycosis
- Others
Onychomycosis Treatment Outlook
- Topical
- Oral
- Others
Onychomycosis Industry Developments
- February 2024: Allderma AB introduced the Terclara brand for the sale of MOB-015, effective in the treatment of onychomycosis across the European region.
- December 2021: Bausch Health Companies Inc. revealed that JUBLIA (efinaconazole) Topical Solution, 10%, a remedy for onychomycosis, was awarded the American Podiatric Medical Association (APMA) Seal of Approval as it enhances foot health.
- February 2021: Lupin Limited was granted approval by the US Food and Drug Administration for its Tavaborole Topical Solution indicated for onychomycosis.
The onychomycosis market is poised for significant growth, driven by increasing incidences of fungal infections, especially in aging populations and those with underlying health conditions. Advances in treatment options, including oral and topical antifungals, laser therapies, and combination therapies, are enhancing patient outcomes. However, challenges such as treatment costs, recurrence, and side effects of medications must be addressed. With continuous innovation in treatment modalities and research into personalized medicine, the onychomycosis market is expected to continue evolving, offering more effective and accessible solutions for patients worldwide.