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What key factors are powering the surge in the onychomycosis market right now?

The market size for onychomycosis has ramped up substantially in the previous years. It is expected to escalate from $3.63 billion in 2024 to $3.83 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%. The growth seen in the past period is due to factors like scarce treatments available, the rise in the aging population, the surge in diabetes cases, the growth of the pharmaceutical industry, and the rising consciousness about fungal infections.

How fast Is the onychomycosis market expected to grow, and what’s its future value?

The market for onychomycosis is projected to experience substantial growth in the upcoming years, anticipated to reach $4.81 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.9%. This growth during the forecast period can be ascribed to factors such as the implementation of combined drug treatments, increases in health care spending, awareness initiatives about onychomycosis, the expansion of telehealth services, and advancements in topical drug solutions. Key trends during the forecast period consist of the incorporation of digital technologies in diagnosing and managing onychomycosis, the surge in over-the-counter (OTC) antifungal products, the creation of patient-oriented treatment plans, emphasis on individualized medicine for treating onychomycosis, and alliances among pharmaceutical companies for research and development purposes.

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What are the leading drivers of growth in the onychomycosis market?

The expected increase in the number of people with diabetes is predicted to fuel further expansion of the onychomycosis market. Diabetes, a chronic condition caused by either an inadequate production of insulin by the pancreas or inefficient utilization of insulin by the body, is associated with onychomycosis, a common foot condition that can be managed by preventing and addressing associated complications. As a result, the growing incidence of diabetes creates a surge in demand for the onychomycosis market. For example, the UK’s National Health Service reported in June 2024 that over half a million additional individuals in England were identified in 2023 as being at risk of developing type 2 diabetes, pushing the overall count of those with non-diabetic hyperglycemia, or pre-diabetes, registered with a GP to 3,615,330. This is a significant hike up from 3,065,825 in 2022, indicating a nearly 20% increase. Therefore, the burgeoning incidence of diabetes is fuelling the growth of the onychomycosis market.

What are the key segments defining 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

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Who are the key players steering the development of the onychomycosis market?

Major companies operating in the onychomycosis market include Pfizer Inc., Johnson & Johnson Services Inc., Merck & Co. Inc., Bayer AG, Novartis AG, Sandoz International GmbH, Bausch Health Companies Inc., Perrigo Company plc, Galderma Laboratories LP, Aurobindo Pharma Limited, Cipla Inc., Dr.Reddy’s Laboratories Ltd., Apotex Inc, Lupin Limited, Amneal Pharmaceuticals Inc., Alembic Pharmaceuticals Inc., Kaken Pharmaceutical Co. Ltd., Mayne Pharma Group Limited, Wockhardt Ltd., Jubilant Cadista Pharmaceuticals Inc., Moberg Pharma AB, Medimetriks Pharmaceuticals Inc., Blueberry Therapeutics Ltd., Hallux Inc., NovaBiotics Ltd., Zydus Cadila Healthcare Limited.

What emerging trends are influencing the growth of the onychomycosis market?

Major brands in the onychomycosis market are pioneering product evolution as a significant trend to maintain their market stance. For example, in January 2024, US-based biopharmaceutical firm Vanda Pharmaceuticals Inc. secured FDA approval for its innovative drug, VTR-297, aimed at treating onychomycosis. This drug, a small molecule histone deacetylase (HDAC) inhibitor, showcases specific antifungal capabilities against dermatophytes and other fungi – pathogens integral to the occurrence of onychomycosis. Designed for direct nail application, its localized delivery system is efficient in reducing systemic exposure and the potential repercussions associated with orally taken antifungal medications.

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Which regions are most influential in expanding the onychomycosis market?

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.

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