Ringworm Treatment Market is expected to garner a value of US$ 13.91 Billion by 2033

According to Future Market Insights, global ringworm treatment is expected to grow at a CAGR of 5.2% between 2023 and 2033, reaching US$ 13.91 billion in 2033.  High incidence rates and high prevalence of skin conditions are contributing factors for ringworm treatment in the market. Moreover, as bacterial and viral infections are becoming more common, the global market is being propelled by increased research and development activity, which in turn is contributing to the growth of this industry by increasing awareness of antifungal treatments and innovative disease treatments in the market.

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The threat of fungus infections to human health continues to remain a serious concern. Many research initiatives currently work on alternative and innovative drug delivery mechanisms, in order to improve drug efficacy. The integrity of the membrane through which the medication penetrates and is able to reach its target is crucial for the effectiveness of topical carriers at the present time. As nanotechnology advances, a new method is being proposed for treating fungal skin infections.

Treatment for ringworm looks very promising in the future. As a result of recent advancements in medical technology and treatments, it has become significantly easier to treat the symptoms of ringworm more quickly and efficiently than ever before. The development of new treatments is also being carried out in order to target specific types of fungi in order to provide more precise and targeted treatments for the disease. The research is also being conducted to gain a better understanding of the fungus, allowing better prevention and better treatment to be developed in the future.

In addition to rising adoption rates, pet owners are taking care of their animals at home with hygiene products. Antifungal creams, shampoos, and oral medications are the most common treatments for these conditions in the current market. In the future, new treatments that focus on improving the targets and treatments of ringworm may be developed as research continues. Moreover, improvements can also be made to existing treatments in order to make them more effective in the market. In addition, scientists are collaborating to develop less irritating and more effective topical antifungals.

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Key Takeaways from the Market Study 

• By 2023, global ringworm treatment sales are expected to reach US$ 8.38 billion.
• Topical routes of administration for ringworm treatment are expected to grow 64% market share between 2023 and 2033.
• Antifungal drugs for the ringworm treatment market are projected to grow at a CAGR of 3.8% from 2023 to 2033.
• According to the forecast, the Asia Pacific ringworm treatment market will grow at a CAGR of 3.2%.
• According to the forecast, the North American market is projected to grow by 14% in the next few years.

“Advances in technology, approval of new topical and oral drugs, and developments in diagnostic kits will contribute to the growth of the ringworm treatment market.” comments a Future Market Insights analyst.

Competitive Landscape 

With the advancement of diagnostic techniques, companies are increasingly interested in developing and researching them at the same time. Since many companies will be developing new antifungal treatment techniques in the near future, it’s likely that many of them will expand their product lines, acquire other firms, or merge.

• Glenmark Pharmaceuticals Ltd., An innovative global pharmaceutical company has created a digital patient education tool for Dermatophytosis (Ring Worm or Tinea) in India. The tool is called ‘Hello Skin’, and it was created in partnership with IADVL (Indian Association of Dermatologists, Venereologists, and Leprologists). With Hello Skin, patients suffering from Ring Worm have access to 24/7 medication reminders for topical/systemic therapies, as well as tips on how to care for their skin and create disease awareness. In addition to Hindi and English, this platform will be available in 6 different regional languages, making it more patient-friendly.
• F2G Inc. announced that the U.S. Food and Drug Administration (FDA) has approved its New Drug Application (NDA) for olorofim for patients with limited options for treating fungal infections.

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Key Players:

• Perrigo Company plc
• Novartis AG
• GlaxoSmithKline Plc
• Teva Pharmaceuticals, Inc.
• Taro Pharmaceutical Industries Ltd.
• Glenmark Pharmaceuticals Inc.
• Avik Pharma
• Actiza Pharmaceutical
• Chempro Group India
• Merck & Co., Inc

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global ringworm treatment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

Key Segments Profiled in the Ringworm Treatment Market Industry Survey?

By Drug Class:

• Steroids
• Antifungals
• Anti-infective
• Others

By Route of Administration:

• Oral
• Topical

By Distribution Channel:

• Hospital Pharmacies
• Drug Stores
• Retailers
• E-commerce

About the Healthcare Division at Future Market Insights

The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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