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How Will the Onychomycosis Market Grow Over the Forecast Period Based on Its Expected CAGR?

The onychomycosis market has experienced strong growth in recent years. It is expected to rise from $3.63 billion in 2024 to $3.83 billion in 2025, with a CAGR of 5.4%. The market’s historical growth has been influenced by limited treatment options, an aging population, the increasing prevalence of diabetes, pharmaceutical industry expansion, and greater awareness of fungal infections.

The onychomycosis market is expected to expand steadily, reaching $4.81 billion by 2029 with a CAGR of 5.9%. Factors fueling this growth include the increasing adoption of combination drug therapies, rising healthcare expenditure, growing awareness campaigns about onychomycosis, expansion of telemedicine services, and improvements in topical drug formulations. Key trends will feature the integration of digital technologies for diagnosis and management, a rise in over-the-counter (OTC) antifungal treatments, the development of patient-friendly treatment options, a focus on personalized medicine, and increased collaboration among pharmaceutical firms for research and innovation.

Which Primary Drivers Are Supporting the Continued Expansion of the onychomycosis Market?

The rise in diabetes cases is expected to drive the growth of the onychomycosis market. Onychomycosis is a common foot issue among diabetic patients. The National Health Service reported in June 2024 that the number of individuals at risk of type 2 diabetes in England increased significantly in 2023, leading to greater demand for treatments for onychomycosis.

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Who Are the Dominant Players Expanding Their Reach in the Onychomycosis Market?

Major companies operating in the onychomycosis market include:

• Pfizer Inc._x000D_

• Johnson & Johnson Services Inc._x000D_

• Merck & Co. Inc._x000D_

• Bayer AG_x000D_

• Novartis AG_x000D_

What Are the Top Trends Shaping the Evolution of the Onychomycosis Market?

Product innovation is a significant trend gaining traction in the onychomycosis market. Leading companies in this market are focused on creating innovative products to maintain their competitive edge. For instance, in January 2024, Vanda Pharmaceuticals Inc., a US-based biopharmaceutical company, received FDA approval for VTR-297, a treatment for onychomycosis. VTR-297 is a small molecule histone deacetylase (HDAC) inhibitor with antifungal activity specifically targeting dermatophytes and other fungi. This drug, designed for topical use, minimizes systemic exposure and reduces potential side effects associated with oral antifungal treatments.

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Which Industry Segments Are Leading the Development and Expansion of the Onychomycosis Market?

The onychomycosis market covered in this report is segmented –

1) By Type: Distal Subungual Onychomycosis (DSO), White Superficial Onychomycosis (WSO), Proximal Subungual Onychomycosis (PSO), Candida Onychomycosis, Other Types

2) By Treatment: Drug Treatment, Topical Therapy, Other Treatments

3) By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, Other Distribution Channels

Subsegments:

1) By Distal Subungual Onychomycosis (DSO): Dermatophyte Infections, Mixed Infections

2) By White Superficial Onychomycosis (WSO): Trichophyton Mentagrophytes Infections, Other Non-Dermatophyte Infections

3) By Proximal Subungual Onychomycosis (PSO): Associated with Nail Psoriasis, Fungal Infections In Immunocompromised Patients

4) By Candida Onychomycosis: Candidal Nail Infections, Mixed Fungal-Candida Infections

5) By Other Types: Total Nail Dystrophy, Secondary Onychomycosis

Which Regions Are Setting the Pace for Onychomycosis Market Growth?

North America was the largest region in the onychomycosis market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the onychomycosis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is the Onychomycosis Market Defined Across Different Regions?

Onychomycosis is a fungal infection that affects the nail matrix, bed, or plate, and can impact both toenails and fingernails, leading to discoloration, thickening, and nail crumbling. The goal of treatment is to eradicate the infection, restore the nail’s health and appearance, and prevent the fungus from spreading to other nails or skin.

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