Walking Towards Progress: FMI Anticipates Onychomycosis Treatment Market to Grow at 8.4% CAGR by 2033

The Onychomycosis Treatment Market is forecast to experience a growth of 8.4% over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 4,738.3 million in 2023. The onychomycosis treatment industry is expected to be propelled by the proliferation of chronic medical ailments like human immunodeficiency virus (HIV), onychomycosis, peripheral artery disease (PAD), and diabetes.

Another key factor propelling the industry expansion is the surging geriatric population, which is extremely susceptible to circulatory disorders and has a feeble immune system. Onychomycosis is also enormously prevalent among adults and millennials owing to their surging exposure to public swimming pools and usage of tight, soiled, or contaminated clothes, socks, and shoes.

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Creating water-soluble antifungal treatment solutions that can be orally administered is expected to lead to market development. These solutions assist in preventing secondary bacterial infections and to avoid fungus growth. Prevalent use of ointments and topical nail lacquers to ensure nail hygiene, along with considerable enhancements in the healthcare infrastructure, are also augmenting the market growth.

Growing research studies and robust adoption of nail lacquers are anticipated to propel market demand over the forecast period. Moreover, podiatrists and dermatologists across the globe believe that there is a significant need for improved topical solutions than the ones present in the market. A progressive shift toward topical solutions has developed significant market prospects for topical drugs, resulting in substantial research and development for creating effective nail lacquers.  The market is expected to advance as a result of surging research expenditure and the introduction of potential drug candidates, which are stirring the market for future growth.

Top Highlights from the FMI’s Analysis of the Onychomycosis Treatment Market

• The United States market in North America is leading the regional market, with an estimated market share of more than 26.5% in 2023.
• Germany has the leading market share in Europe. FMI has assessed that the value share of Germany is going to be more than 6% in 2023.
• The Japanese market gathered a market share of 3.8% in 2022.
• The Chinese and Indian markets are expected to register a CAGR of 13.2% and 10.8%, respectively, over the forecast period.
• The United Kingdom market is projected to expand at a CAGR of 6.7% from 2023 to 2033.
• Based on treatment, the drugs segment is anticipated to gain more than 59.4% market share in 2023.
• Under the end user, the institutional sales segment is projected to gain a value share of more than 61.2% in 2023.

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Key Companies Profiled:

• Teva Pharmaceutical Industries Ltd.
• Sanofi S.A.
• Medimetriks Pharmaceuticals, Inc.
• Galderma
• Johnson & Johnson
• Novartis AG
• Moberg Pharma AB
• Cardinal Health, Inc.
• Pfizer Inc.
• Almirall, S.A.
• Bayer AG
• Viatris Inc.
• GlaxoSmithKline plc
• Cipla Ltd.
• Dr. Reddy’s Laboratories Ltd

Key Segments in The Global Onychomycosis Treatment Industry

Treatment Type:

• Drugs
• Lasers
• Photodynamic Therapy

Disease Indication:

• Distal Subungual Onychomycosis
• White Superficial Onychomycosis
• Proximal Subungual Onychomycosis
• Candidal Onychomycosis
• Total Dystrophic Onychomycosis

Age Group:

• 0 to 18 Years
• 18 to 39 Years
• 40 to 64 Years
• 65 Years & Above

Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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