This updated report on the dermatophytic onychomycosis therapeutics (DOT) industry anticipates the market expand 1.9X from its current worth of US$ 4.6 Bn by 2031. The research also suggests the market will progress at a positive CAGR of 7% over the next ten years. Germany is expected to account for nearly 1/4 market share in the European region.
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- Valeant Pharmaceuticals Inc.
- Galderma S.A.
- Novartis AG
- Pfizer, Inc.
- Moberg Pharma AB
- Johnson & Johnson Services, Inc.
- Bayer AG
- Dr. Reddy’s Laboratories Ltd.
- Cipla Ltd.
- Medimetriks Pharmaceuticals, Inc.
Key Points Covered in Dermatophytic Onychomycosis Therapeutics Market Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 Impact on dermatophytic onychomycosis therapeutics and how to navigate
- Recommendation on key winning strategies
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Developments Shaping Dermatophytic Onychomycosis Therapeutics Industry
Instances of fungal infection in nails have increased over the past years, as it is a common phenomenon whose prevalence increases with age. The risk of onychomycosis has significantly been prevalent in diabetic patients, with almost one-third of all diabetic patients being affected by it.
- Kaken Pharmaceutical (KKPCF) and Almirall S.A. entered into a license and distribution agreement that grants Almirall the exclusive rights for the development and commercialization of topical formulation of efinaconazole in Europe. This formulation is used in the treatment of onychomycosis.
- In April of 2020, FDA (Food and Drug Administration U.S.) approved a supplemental New Drug Application (sNDA) for JUBLIA® (efinaconazole) topical solution, which was launched back in June of 2014. With this new approval, the age range included in the product's label has been extended to children six years of age and older, which was previously 18 years and older.
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The prevalence of the nail fungus, i.e., dermatophytic onychomycosis, is increasing with the increasing incidence of chronic diseases, such as diabetes mellitus, peripheral vascular diseases, and psoriasis, among others. The risk is high in patients with athlete’s foot, genetic predisposition, HIV-positive patients, etc.
Besides, many such secondary factors are expected to fuel the demand for dermatophytic onychomycosis therapeutics. The risk of dermatophytic onychomycosis is 1.9–2.8 times higher in patients suffering from diabetes, compared to the general population.
Prevalence of dermatophytic onychomycosis is estimated to be around 4–5% in tropical Asian countries, between 10% and 12% in North America, and up to 17% in European countries.
Increasing awareness regarding dermatophytic onychomycosis therapeutics among podiatrists and dermatologists has led to increase in the demand for dermatophytic onychomycosis therapeutics. Majority of the global population is apprehensive about the consequences of a nail infection, particularly the diabetic patients (dermatophytic onychomycosis in people with diabetes increases the risk of other foot disorders).
An Increasing inclination of consumers towards maintaining the aesthetic appeal of their nails has been observed, and is one of the major factors driving dermatophytic onychomycosis therapeutics market. The condition of dermatophytic onychomycosis is not considered as life-threatening, but may result in physical and occupational limitations owing to which a large number of people opt for the treatment of infected, thick, and cracked nails, which fuels the growth of dermatophytic onychomycosis market.
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Market Value and Forecast
The global dermatophytic onychomycosis therapeutics market is projected to increase at a CAGR of 7% during the forecast period of 2021–2031, and reach a value of US$ 8.9 Bn by the end of 2031.
The global dermatophytic onychomycosis therapeutics market based on product type has been segmented into tablets and nail paints, which is again sub-segmented into prescription (Rx) and over-the-counter.
Based on treatment type, the global dermatophytic onychomycosis therapeutics market has been segmented into topical and oral. Based on end users, the global dermatophytic onychomycosis therapeutics market has been segmented into hospitals, clinics, independent pharmacies, mail order pharmacies and drug stores.
- Increasing standardization of dermatophytic onychomycosis therapeutics products is expected to emerge as the key market trend in North America.
- People in North America have been observed to be more health conscious, thus, relying more on combination therapy for dermatophytic onychomycosis therapeutics treatment of finger nails and toe nails.
- In Europe, there is high prevalence of dermatophytic onychomycosis, which is mainly associated with diabetes. Diabetic patients are more prone to develop fungal infections in their toe nails, thus, increasing the demand for dermatophytic onychomycosis therapeutics.
- Nail Lacquers continue to dominate the European dermatophytic onychomycosis therapeutics market as there are no systemic side-effects associated with these topical products.
- Consumer preference for topical treatment in Asia Pacific is on the higher side due to ease of its applicability and also as nail lacquers are easy to apply and stay for a longer period on the nails
- Prevalence of dermatophytic onychomycosis is higher in Australia when compared to New Zealand because of the presence of more number of beaches and warm and moist weather in the country, which increases the chances of fungal toe-nail infections.
- Marketing campaigns by the established brands in Rest of Asia Pacific are expected to rise in the coming years, in turn, raising consumer awareness regarding the condition in the region
- Awareness about onychomycosis infection in Latin America is lower as compared to other regions
- Majority of people in Brazil are reluctant to use anti-fungal tablets because of their associated side-effects whereas people of Mexico tend to wear pointed boots and narrow shoes and thus are more susceptible to toenail infections as compared to finger nail infections
- MEA market is projected to expand at a slower CAGR because of lesser awareness about dermatophytic onychomycosis and dermatophytic onychomycosis therapeutics in some countries in the region
Geographically, the global dermatophytic onychomycosis therapeutics market is segmented into five major regions, namely North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa (MEA). North America was the dominant regional market for dermatophytic onychomycosis therapeutics and is expected to follow the same trend over the forecast period.
The Europe market for dermatophytic onychomycosis therapeutics is expected to account for second largest share followed by Asia Pacific. North America and Europe collectively are expected to account for over 3/5 share of the global dermatophytic onychomycosis therapeutics market over the forecast period. MEA and Latin America are expected to be fast-growing regions in the global dermatophytic onychomycosis therapeutics market due to its growing healthcare efforts.
By Product Type
By Treatment Type
By End Users
FAQs Answered in Market Study
- What are the dermatophytic onychomycosis therapeutics market metrics at present?
Currently, the global dermatophytic onychomycosis therapeutics market is valued at US$ 4.6 Bn.
- What is the stance for the dermatophytic onychomycosis therapeutics market by end of 2031?
The global dermatophytic onychomycosis therapeutics market is estimated to progress at a CAGR of 7% and reach approximately US$ 8.9 Bn by 2031.
- What CAGR did the market register over the past 5 years?
The market for dermatophytic onychomycosis therapeutics registered a CAGR of 7.1% over the past 5 years.
- What is the market share held by top 5 players in the industry?
Top 5 players in the DOT market hold an impressive share of approximately 45% of the global market.
- Which nations are shaping the demand for dermatophytic onychomycosis therapeutics?
The U.S., Canada, France, Germany, and U.K. are at the forefront of demand for dermatophytic onychomycosis therapeutics.
- What are the market statistics for Germany?
Germany is expected to hold 1/4 of the market share in the European region.
- What is the outlook for the Japanese market for dermatophytic onychomycosis therapeutics?
Japan is expected to emerge as a lucrative market accounting for nearly 30% of the market share in the Asia Pacific region.
- What is the market share held by North America in 2021?
North America holds nearly 50% of the global market share, and hence asserts its dominance as a very lucrative region.