Onychomycosis Market 2024 - By Industry Share, Growth Analysis, Technological Innovations, Opportunities, New Business Strategies And Forecast To 2033

 

The Onychomycosis Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

 

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According to The Business Research Company’s Onychomycosis Global Market Report 2024, The onychomycosis market size has grown strongly in recent years. It will grow from $3.4 billion in 2023 to $3.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%.  The  growth in the historic period can be attributed to limited treatment options, aging population, increased incidence of diabetes, expansion of the pharmaceutical industry, growing awareness of fungal infections.

 

The onychomycosis market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.  The growth in the forecast period can be attributed to adoption of combination drug therapies, increasing healthcare expenditure, growing awareness campaigns for onychomycosis, expansion of telemedicine services, advances in topical drug formulations. Major trends in the forecast period include integration of digital technologies in onychomycosis diagnosis and management, rise in over-the-counter (otc) antifungal products, development of patient-friendly treatment regimens, emphasis on personalized medicine in onychomycosis treatment, collaboration between pharmaceutical companies for research and development.

 

The surge in diabetic patient population is expected to propel the growth of the onychomycosis market going forward. Diabetes is a chronic disease caused by either insufficient insulin synthesis by the pancreas or ineffective insulin utilization by the body. Onychomycosis is a common foot problem for people with diabetes, which can be managed by preventing and managing complications associated with onychomycosis. Hence, the rising incidence of diabetes boosts the demand for the onychomycosis market. For instance, in December 2021, according to the International Diabetes Federation, a US-based intergovernmental organization, diabetes threatened 537 million elderly individuals (20–79 years old) around the world in 2021, and it's expected to affect 643 million individuals by 2030, and a total of 783 million individuals by 2045. Therefore, the rising incidence of diabetes is driving the growth of the onychomycosis market.

 

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The onychomycosis market covered in this report is segmented –

1) By Type: Distal Subungual Onychomycosis (DSO), White Superficial Onychomycosis (WSO), Proximal Subungual Onychomycosis (PSO), Candida Onychomycosis, Other Types

2) By Treatment: Drug Treatment, Topical Therapy, Other Treatments

3) By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, Other Distribution Channels

 

Top Major Players

Pfizer Inc.

Johnson & Johnson Services Inc.

Merck & Co. Inc.

Bayer AG

Novartis AG

 

Product innovation is a key trend gaining popularity in the onychomycosis market. Major companies operating in the onychomycosis market are developing innovative products to sustain their position in the market. For instance, in December 2021, Bausch Health Companies Inc., a Canada-based pharmaceutical company, launched a Julia (aliconazole) topical solution for the treatment of onychomycosis. Julia is approved by the American Podiatric Medical Association (APMA), a US-based professional medical organization. Products that support good foot health and are of significant benefit when used in a consistently applied program of daily foot care and frequent professional treatment are given the APMA Seal of Approval.

 

The onychomycosis market report table of contents includes:

1. Executive Summary

2. Onychomycosis Market Characteristics

3. Onychomycosis Market Trends And Strategies

4. Onychomycosis Market - Macro Economic Scenario

5. Global Onychomycosis Market Size and Growth

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32. Global Onychomycosis Market Competitive Benchmarking

33. Global Onychomycosis Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Onychomycosis Market

35. Onychomycosis Market Future Outlook and Potential Analysis

36. Appendix

 

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