Global Onychomycosis Treatment Market to Reach US$ 5.2 Billion by 2032, Impelled by Rising Prevalence of Chronic Diseases

October 03, 2022 | Healthcare

The latest report by IMARC Group, titled “Onychomycosis Treatment Market Report by Disease Type (Distal Subungual Onychomycosis, Proximal Subungual Onychomycosis, White Superficial Onychomycosis, Candidal Onychomycosis, and Others), Treatment Type (Laser Therapy, Photodynamic Therapy, Drug Treatment), Drug Class (Allylamine, Azole, Griseofulvin, and Others), Distribution Channel (Hospitals and Clinics, Online Stores, Retail Pharmacies, and Others), and Region 2024-2032,” finds that the global onychomycosis treatment market reached a value of US$ 3.5 Billion in 2023. Onychomycosis is a fungal infection that occurs in the fingernails and toenails, resulting in discomfort, discoloration, chronic pain, and disfigurement. It is a common nail infection in patients with athlete’s feet and is caused by various organisms, such as dermatophytes, yeasts, and non-dermatophyte molds. It is usually diagnosed through oxygen and hydrogen (KOH) examination, potassium, culture, and histopathological examinations of nail clippings and nail biopsies and is treated through laser therapy, drugs, and photodynamic therapies.

Global Onychomycosis Treatment Market Trends:

The market is primarily driven by the rising prevalence of chronic medical ailments, such as onychomycosis, human immunodeficiency virus (HIV), diabetes, and peripheral artery disease (PAD) among the masses. In addition, the development of water-soluble antifungal treatment solutions that can be administered orally and aid in preventing secondary bacterial infections and the growth of fungus represents another major growth-inducing factor. Besides this, onychomycosis is highly prevalent among millennials and adults due to the increased exposure to public swimming pools and utilization of tight, contaminated, or soiled clothes, shoes, and socks. This, coupled with the rising popularity of topical nail lacquers and ointments to maintain nail hygiene, is contributing to the market growth. Moreover, the developing healthcare infrastructure across the globe is also creating a favorable market outlook. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2032, exhibiting a CAGR of 4.6% during the forecast (2024-2032).

Market Summary:

  • Based on the disease type, the market has been classified into distal subungual onychomycosis, proximal subungual onychomycosis, white superficial onychomycosis, candidal onychomycosis, and others.
  • On the basis of the treatment type, the market has been segmented into laser therapy, photodynamic therapy, and drug treatment.
  • Based on the drug class, the market has been categorized into allylamine, azole, griseofulvin, and others.
  • On the basis of the distribution channel, the market has been segregated into hospitals and clinics, online stores, retail pharmacies, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being Bausch Health Companies Inc., Cipla Limited, Dr. Reddy’s Laboratories, Galderma SA, GlaxoSmithKline PLC, Kaken Pharmaceutical Co. Ltd, Lumenis Ltd, Moberg Pharma AB, Novartis AG, Pfizer Inc., and The OTC Lab B.V.

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Global Onychomycosis Treatment Market to Reach US$ 5.2 Billion by 2032, Impelled by Rising Prevalence of Chronic Diseases
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