The global onychomycosis treatment market is poised for significant expansion in the coming years, driven by a surge in the prevalence of fungal nail infections and the aging population, as per a recent market analysis conducted by Future Market Insights (FMI).
According to the comprehensive report, the global onychomycosis treatment market is projected to achieve a substantial value of US$ 10,608.8 million by the year 2033. This represents a noteworthy 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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The rising prevalence of fungal nail infections, coupled with an increasingly aging population worldwide, has been identified as the primary driver propelling the growth of the onychomycosis treatment market. This trend underscores the urgent need for effective treatment solutions to address this widespread concern.
“With the prevalence of fungal nail infections on the rise and an aging demographic driving demand, the global onychomycosis treatment market is witnessing unprecedented growth,” stated a spokesperson from Future Market Insights. “This growth trajectory presents significant opportunities for market players to innovate and develop advanced treatment options to cater to the evolving needs of patients.”
The forecasted growth of the onychomycosis treatment market signifies a promising outlook for stakeholders, including pharmaceutical companies, healthcare providers, and investors. As awareness about the condition increases and technological advancements continue to enhance treatment efficacy, the market is expected to witness sustained expansion in the foreseeable future.
Future Market Insights is a leading provider of market intelligence and consulting services, offering actionable insights and strategic recommendations to help businesses navigate dynamic market landscapes.
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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