Tinea Pedis Treatment Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the tinea pedis treatment market size evolved in recent years?
The market for treating tinea pedis has seen robust expansion in the recent past. It is forecasted to increase from $1.36 billion in 2024 to $1.45 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. The growth during the earlier years was driven by factors such as the escalation of contagious diseases, the use of traditional healing methods, the invention of antifungal treatments, accessibility of over-the-counter (OTC) products, and advances in medical education.
What are the predictions for the tinea pedis treatment market size in the coming years?
The tinea pedis treatment market size is expected to see strong growth in the next few years. It will grow to $1.83 billion in 2029 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to globalization, travel, drug resistance, economic factors and public health campaigns. Major trends in the forecast period include Innovative drug delivery systems, medical advancements, advancements in pharmaceutical technology and nanotechnology.
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What key factors are fueling the growth of the tinea pedis treatment market?
The tinea pedis treatment market is anticipated to grow due to the increasing prevalence of foot and ankle injuries. These injuries can be described as harm or trauma caused to bones, ligaments, tendons, muscles, or other tissues in the foot or ankle region, often emerging from accidents, sports involvement or repeated stress. Factors such as lifestyle shifts, higher engagement in sports and physical workouts, inappropriate footwear, poor training skills, susceptibility to falls and degenerative conditions often result in foot and ankle injuries. The high risk of foot and ankle issues is further compounded by an increase in obesity and chronic illnesses such as diabetes. Injuries to the foot and ankle can worsen tinea pedis treatment by encouraging conditions conducive for fungal growth and extended periods of immobility. For example, in November 2023, Howden Group Holdings Ltd., a UK insurance intermediary company, reported a 170% escalation in the severity of ankle injuries in the English Premier League from October 2022 to January 2023, following the FIFA World Cup Qatar 2022. Hence, the rising occurrence of foot and ankle injuries is driving the tinea pedis treatment market’s growth. The tinea pedis treatment market is also likely to see growth due to the growing incidences of fungal infections. Fungal infections are ailments caused by fungi that can affect various parts of the body. Factors contributing to the rise in these infections include weaker immunity, environmental conditions conducive for fungal growth, exposure to fungi, both occupational and otherwise, underlying health complications, and personal hygiene habits. The main aim of tinea pedis treatment is to get rid of the fungal infection and alleviate associated symptoms. For example, in January 2024, according to the UK Health Security Agency, a government agency in the UK, there was a 6.0% rise in the number of instances of bloodstream infections in England in 2022. Furthermore, in 2022, E. coli constituted 82% of the 16,643 cases of antibiotic-resistant bloodstream infections. Therefore, the growing rate of fungal infections is enhancing the growth of the tinea pedis treatment market.
How is the global tinea pedis treatment market divided into key segments?
The tinea pedis treatment market covered in this report is segmented –
1) By Drug Class: Antifungals, Combinations
2) By Route of Administration: Oral, Topical
3) By Disease Indication: Interdigital Tinea Pedis, Plantar Tinea pedis, Vesicular Tinea Pedis
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, E-commerce
Subsegments:
1) By Antifungals: Topical Antifungal Drugs, Oral Antifungal Drugs
2) By Combinations: Antifungal And Corticosteroid Combinations, Antifungal And Antiseptic Combinations
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What are the top market players propelling the growth of the tinea pedis treatment industry?
Major companies operating in the tinea pedis treatment market are McKesson Corporation, Pfizer Inc., Bayer AG, Novartis AG, GlaxoSmithKline plc, Sandoz International GmbH, Bausch Health Companies Inc., Perrigo Company plc, Aurobindo Pharma, Dr. Reddy’s Laboratories Ltd., Cipla Ltd., Lupin Limited, Glenmark Pharmaceuticals Ltd., Almirall S.A., Exeltis USA Inc., Taro Pharmaceutical Industries Ltd., Tolmar Pharmaceuticals Inc., Sebela Pharmaceuticals Inc., Ego Pharmaceuticals Pty. Ltd., Fougera Pharmaceuticals Inc., Camber Pharmaceuticals Inc., Mayne Pharma Group Limited, Sun Pharmaceutical Industries Ltd., CorePharma LLC, Blueberry Therapeutics Ltd.
What are the key trends shaping the future of the tinea pedis treatment market?
Top-tier firms in the tinea pedis treatment market are constantly working towards introducing full-cycle skin infection control solutions to improve patient recovery and experience. These all-encompassing skin infection control treatments address the fungal infection from all angles: cure, prevention of reoccurrence, and symptom management, like itching, flaky skin, and redness. To cite an example, in May 2022, the Germany-originated pharmaceutical corporation, Bayer, unveiled an upgraded and groundbreaking series of Canesten. This holistic skin infection control solution successfully soothes itching and curtails the progression of the infection further. Canesten cream is efficient in relieving conditions like ringworm, jock itch, athlete’s foot, skin candidiasis, erythrasma, and other fungal infections. It incorporates clotrimazole as its core component, which treats the fungal infection leading to athlete’s foot effectively. The action mechanism of clotrimazole involves breaking the growth pattern of the fungus, assisting in subduing symptoms such as itching, burning sensation, and skin irritation associated with tinea pedis.
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What regions are contributing significantly to the growth of the tinea pedis treatment market?
North America was the largest region in the tinea pedis treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tinea pedis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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