Global ringworm treatment is expected to grow at a CAGR of 5.2% between 2023 and 2033, reaching US$ 13.91 billion in 2033, according to Future Market Insights. Ringworm treatment in the market is influenced by the high incidence rates and prevalence of skin conditions. Furthermore, as bacterial and viral infections become more common, the global market is being propelled by increased R&D activity, which is contributing to the growth of this industry by increasing market awareness of antifungal treatments and innovative disease treatments.
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The threat of fungus infections to human health remains a major concern. In order to improve drug efficacy, many research initiatives are currently working on alternative and innovative drug delivery mechanisms. At the moment, the integrity of the membrane through which the medication penetrates and reaches its target is critical for the effectiveness of topical carriers. As nanotechnology advances, a new method for treating fungal skin infections is being proposed.
Ringworm treatment appears to be very promising in the future. Recent advances in medical technology and treatments have made it significantly easier to treat ringworm symptoms more quickly and efficiently than ever before. New treatments are also being developed to target specific types of fungi in order to provide more precise and targeted treatments for the disease. The research is also being conducted to gain a better understanding of the fungus, which will allow for better prevention and treatment in the future.
Ringworm treatment appears to be very promising in the future. Recent advances in medical technology and treatments have made it significantly easier to treat ringworm symptoms more quickly and efficiently than ever before. New treatments are also being developed to target specific types of fungi in order to provide more precise and targeted treatments for the disease. The research is also being conducted to gain a better understanding of the fungus, which will allow for better prevention and treatment in the future.
Key Takeaways from the Market Study
- By 2023, global ringworm treatment sales are expected to reach US$ 8.38 billion.
- Topical routes of administration for ringworm treatment are expected to grow 64% market share between 2023 and 2033.
- Antifungal drugs for the ringworm treatment market are projected to grow at a CAGR of 3.8% from 2023 to 2033.
- According to the forecast, the Asia Pacific ringworm treatment market will grow at a CAGR of 3.2%.
- According to the forecast, the North American market is projected to grow by 14% in the next few years.
“Advances in technology, approval of new topical and oral drugs, and developments in diagnostic kits will contribute to the growth of the ringworm treatment market.” comments a Future Market Insights analyst.
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Competitive Landscape
With the advancement of diagnostic techniques, companies are increasingly interested in developing and researching them at the same time. Since many companies will be developing new antifungal treatment techniques in the near future, it’s likely that many of them will expand their product lines, acquire other firms, or merge.
- Glenmark Pharmaceuticals Ltd., An innovative global pharmaceutical company has created a digital patient education tool for Dermatophytosis (Ring Worm or Tinea) in India. The tool is called ‘Hello Skin’, and it was created in partnership with IADVL (Indian Association of Dermatologists, Venereologists, and Leprologists). With Hello Skin, patients suffering from Ring Worm have access to 24/7 medication reminders for topical/systemic therapies, as well as tips on how to care for their skin and create disease awareness. In addition to Hindi and English, this platform will be available in 6 different regional languages, making it more patient-friendly.
- F2G Inc. announced that the U.S. Food and Drug Administration (FDA) has approved its New Drug Application (NDA) for olorofim for patients with limited options for treating fungal infections.
Key Segments Profiled in the Ringworm Treatment Market Industry Survey?
By Drug Class:
- Steroids
- Antifungals
- Anti-infective
- Others
By Route of Administration:
- Oral
- Topical
By Distribution Channel:
- Hospital Pharmacies
- Drug Stores
- Retailers
- E-commerce
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global ringworm treatment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the ringworm treatment market, the market is segmented on the basis of by Drug Class (Steroids, Antifungals, Anti-infective, Others), by Route of Administration (Oral, Topical) by Distribution Channel (Hospital Pharmacies, Drug Stores, Retailers, E-commerce) across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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