Unlocking Opportunities in the Onychomycosis Treatment Market: Key Growth Trends and Forecast Insights
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What is the Growth Potential of the Onychomycosis Treatment Market, and How Will It Perform by 2034?
The market for the treatment of onychomycosis has seen significant growth in the past few years. Predictions indicate an increase in market size from $3.65 billion in 2024 to $3.92 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.4%. This escalation during the historic period is owing to the rise in fungal infections, a growing elderly population, greater public consciousness, an increased occurrence of onychomycosis, and higher levels of disposable income.
The market for onychomycosis treatment is predicted to experience significant expansion in the coming years, with expectations to reach a market size of $5.09 billion by 2029 at a compound annual growth rate (CAGR) of 6.7%. Several factors could contribute to this projected growth, such as an aging demographic, the proliferation of telemedicine, combination therapies, an increase in healthcare accessibility, lifestyle changes, environmental influences, and a rise in diabetes prevalence. Key trends anticipated during this forecast period encompass advancements in dermatology, innovations in drug delivery, individualized treatment strategies, progress in topical treatments, digital health solutions, and laser therapy.
What Industry-Specific Factors Are Fueling the Growth of the Onychomycosis Treatment Market?
The rise in fungal infections is anticipated to spur the expansion of the onychomycosis treatment market. These infections are caused by a variety of fungi, which affect different areas of the body and lead to certain conditions. Oral antifungal medications or topical antifungal solutions are commonly used to treat Onychomycosis (a nail infection caused by fungi). For instance, as reported by the UK Health Security Agency in September 2023, in 2022, England documented 2,265 cases of yeast-induced bloodstream infections (BSI). The overall incidence rate of BSI due to yeast slightly increased to 4.0 per 100,000 population, a slight rise from 3.8 per 100,000 in 2021. The three most frequently found yeast species in blood samples were Candida albicans at 40%, Nakaseomyces glabratus (previously known as Candida glabrata) at 29%, and Candida parapsilosis at 13%. Therefore, the mounting prevalence of fungal infections is a driving force for the growth of the onychomycosis treatment market. Onychomycosis Treatment Market Driver: Increasing Diabetes Incidence Fuels Onychomycosis Treatment Market Expansion
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Who Are the Major Companies Shaping the Competitive Landscape of the Onychomycosis Treatment Market?
Major companies operating in the onychomycosis treatment market are Johnson & Johnson Services Inc., Bristol-Myers Squibb Company, Viatris Inc., Teva Pharmaceutical Industries Ltd., Hetero Drugs Ltd., Sun Pharmaceutical Industries Limited, Cadila Pharmaceuticals Ltd., Dr. Reddys Laboratories Ltd., Intas Pharmaceuticals Limited, Cipla Limited, Lupin Limited, Glenmark Pharmaceuticals Ltd., Aurobindo Pharma Limited, Alkem Laboratories Limited, Jubilant Life Sciences Ltd., Torrent Pharmaceuticals Ltd., Mankind Pharma Ltd., Biocon Limited, Emcure Pharmaceuticals Limited, Alembic Pharmaceuticals Ltd., Laurus Labs Limited, Strides Pharma Science Limited, Aarti Drugs Ltd., NATCO Pharma Ltd., Unichem Laboratories Ltd., Indoco Remedies Ltd., Apex Laboratories Pvt. Ltd., Wockhardt Ltd., Nuray Chemicals Private Limited.
What Are the Key Emerging Trends in the Onychomycosis Treatment Market for the Next Decade?
Leading businesses in the onychomycosis treatment market are striving for competitive advantage by developing and gaining federal approval for new products, like MOB-015. In June 2023, for instance, Moberg Pharma AB, a Swedish pharmaceutical firm, secured European Union approval for MOB-015, designed to treat mild to moderate nail fungal infections in adults. This green light by the European Union signifies the first global marketing permission for this innovative onychomycosis drug. Evidence from two Phase 3 trials that backed the approval of MOB-015 showed an enhanced mycological cure (76% vs. up to 42% for other comparables) and a remarkably higher total cure rate than the vehicle, with no serious side effects. The topical terbinafine formula, MOB-015, ensures efficient terbinafine concentrations reach the nail and nail bed without the systemic exposure risk that oral terbinafine treatment carries.
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Which Key Market Segments Comprise the Onychomycosis Treatment Market and Drive Its Revenue Growth?
The onychomycosis treatment market covered in this report is segmented –
1) By Type: Distal Sublingual Onychomycosis, White Superficial Onychomycosis, Proximal Sublingual Onychomycosis, Candida Onychomycosis, Other Types
2) By Treatment Type: Drugs, Laser Therapy, Photodynamic Therapy
3) By Age Group: 0 To 18 Years, 18 To 39 Years, 40 To 64 Years, 65 Years And Above
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Other Distribution Channels
Which Regions Are Making a Mark in the Onychomycosis Treatment Market Growth?
North America was the largest region in the onychomycosis treatment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in onychomycosis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
How Is the Onychomycosis Treatment Market Categorized and Defined in the Industry?
Onychomycosis treatment refers to the medical interventions and approaches used to manage and cure onychomycosis, a fungal infection that affects the nails, including both the fingernails and toenails. Treating onychomycosis typically involves a combination of topical and oral antifungal medications and preventive measures to reduce the risk of recurrence.
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