The global onychomycosis treatment market is poised for significant growth over the next decade, driven by rising fungal nail infection prevalence and an aging population, according to a recent market analysis conducted by FMI.
The report projects the market to reach a value of US$ 10,608.8 million by 2033, growing at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2033. In 2023, the market was valued at US$ 4,738.3 million.
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Rising Prevalence of Onychomycosis Treatment Market Growth:
Onychomycosis, a fungal infection of the nails, is becoming increasingly prevalent worldwide. This surge is attributed to several factors, including:
- Growing incidence of diabetes: Diabetes significantly increases the risk of developing nail fungal infections.
- Aging population: The global population is aging rapidly, with older individuals more susceptible to circulatory issues and weakened immune systems, making them more vulnerable to onychomycosis.
Growing Demand for Effective Treatment Options:
The increasing prevalence of onychomycosis and the growing geriatric population are driving the demand for effective treatment options. This trend is expected to create significant opportunities for market participants in the development and commercialization of innovative onychomycosis treatments.
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)
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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