Onychomycosis Treatment Market to Grow at a CAGR of 8.4% By 2033, Driven By Advancements | FMI

In 2023, it is anticipated that the Onychomycosis Treatment Market will be valued US$ 4,738.3 million. The market for onychomycosis treatments is anticipated to grow at a CAGR of 8.4% from 2023 to 2033 and reach a value of US$ 10,608.8 million. The market is expanding as a result of the rising incidence of diabetes, which increases the risk of nail fungal infection.

The rapidly growing older population, which is particularly vulnerable to circulatory problems and has a weak immune system, is another important reason driving the industry’s rise. Due to their increased use of public swimming pools and tight, dirty, or infected clothing, socks, and shoes, adults and millennials are also extremely susceptible to onychomycosis.

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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

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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, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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