The global Onychomycosis Market size is estimated at USD 4.94 Billion in 2030 and is expected to grow at a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth of the onychomycosis market is attributable to the increasing incidence of onychomycosis and chronic diseases aided by rising awareness about treatment. The infection leads to psychological and social limitations which can limit an individual's ability to work and socialize which makes it important to provide effective and efficient treatment for patients suffering from the infection further propelling the market growth.
Rising rate of onychomycosis is the key factor
contributing to the overall growth of the market. The infection, often known as
toenail fungus or fungal nail infection, affects over 14% of the total
population in the U.S. However, most people are unaware of how harmful toenail
fungus is, despite it is extremely contagious in nature and increasing the risk
of developing with age.
International organizations such as the Global Nail
Fungus Organization are working with public health officials and healthcare
professionals worldwide to increase awareness and improve the prevention and
treatment of nail fungus across the globe. This is anticipated to propel the
demand for therapeutics. Government initiatives such as Think Fungus by the
Centers for Disease Control and Prevention (CDC), emphasize the significance of
detecting fungal diseases such as onychomycosis, early enough in the course of
a patient's condition to ensure the administration of relevant therapy. This is
inducing a surge in demand for onychomycosis therapeutics and is expected to
drive market growth in the country.
Furthermore, the key players are focusing on
collaborations and partnerships to develop novel onychomycosis therapies and to
maintain their competitive position in the market. For instance, in August
2022, Moberg Pharma AB entered into a distribution agreement with Padagis
Israel Agencies Ltd. that is expected to give Padagis exclusive rights for
selling and marketing MOB-015, a treatment for onychomycosis in Israel.
Moreover, innovations to address the concerns such as improving patient
compliance and reducing the dosage are expected to fuel the market growth. For
instance, in October 2021, Intas Pharmaceuticals launched SB 100mg under the
brand name Itaspor-SB Forte/Subawin which is the world's first Super
Bioavailable Itraconazole. This initiative is expected to significantly
increase patient compliance and reduce the cost of therapy.
List of Key Players in Onychomycosis Market
- Bausch Health Companies Inc.
- GSK plc
- Abbott
- Pfizer Inc.
- Bayer AG
- Teva Pharmaceutical Industries Ltd.
- Cipla Inc.
- Merck & Co., Inc.
- Novartis AG
- Sun Pharmaceutical Industries Ltd.
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Onychomycosis Market Report Highlights
- Distal subungual onychomycosis segment dominated the market in 2022
and is attributable to the increasing prevalence and number of generic
approvals by the FDA to meet the rising demands
- Topical segment is expected to show the fastest growth rate over the
forecast period owing to ease of usage and administration which leads to
increased patient compliance with treatment
- Players have an increased focus on acquiring specialized capacities
that are highly capital-intensive to develop and maintain their
competitive position
- North America held the largest market share in 2022 which can be
attributed to better access to healthcare, the presence of a wide target
population, and high adoption of treatment
Onychomycosis Market Report
Scope
|
Report Attribute |
Details |
|
Market
size value in 2024 |
USD 3.81
billion |
|
Revenue
forecast in 2030 |
USD 4.94
billion |
|
Growth
rate |
CAGR of
4.4% from 2024 to 2030 |
|
Actual
data |
2018 -
2023 |
|
Forecast period |
2024 - 2030 |
Related Press Release@ Onychomycosis Industry Analysis
Onychomycosis Market Segmentation
Grand View Research has segmented the global
onychomycosis market based on the type, treatment, and region
Onychomycosis Type Outlook (Revenue, USD Million, 2018 -
2030)
- Distal Subungual Onychomycosis
- White Superficial Onychomycosis
- Proximal Subungual Onychomycosis
- Other Types
Onychomycosis Treatment Outlook (Revenue, USD Million,
2018 - 2030)
- Oral
- Topical
- Others
Onychomycosis Regional Outlook (Revenue, USD Million,
2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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