A Detailed Analysis of the Onychomycosis Treatment Market Based on Technological Advancements, Rising Awareness Among Diabetic Population, and a Growing Aging Population Susceptible to Fungal Nail Infections
Report ID: PMRREP34004
Number of Pages: 234
Format: PPT*, PDF, EXCEL
Industry: Healthcare
Published Date: February-2024
The global onychomycosis treatment market is forecast to expand at a CAGR of 7.6% and thereby increase from a value of US$51 Bn in 2023, to US$85.1 Bn by the end of 2030.
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Attributes |
Key Insights |
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Onychomycosis Treatment Market Size (2023E) |
US$51.0 Bn |
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Projected Market Value (2030F) |
US$85.1 Bn |
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Global Market Growth Rate (CAGR 2023 to 2030) |
7.6% |
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Historical Market Growth Rate (CAGR 2018 to 2022) |
4.9% |
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Diagnostic techniques for precise and early onychomycosis include optical coherence tomography and confocal microscopy. These technological advancements facilitate accurate diagnosis and focused therapy by enabling medical practitioners to see fungal infections at the microscopic level. The identification of fungal pathogens has been transformed using polymerase chain reaction (PCR) and other molecular diagnostic techniques.
Such techniques provide sensitive and quick fungal DNA detection, which helps distinguish between different fungal species that cause onychomycosis and aids in early diagnosis. The genetic composition of the fungi because advancements in genomics reveal onychomycosis. Optimizing treatment outcomes is made possible by knowing the genetic properties of fungal strains, which aid in developing targeted medicines and predicting possible drug resistance.
Treatment for onychomycosis with lasers has developed into a non-invasive and successful method. Nd: YAG lasers are one example of a laser technology targeting the fungal infection without harming nearby tissues. This invention presents a viable substitute for customary therapies. Technological developments improve the effectiveness of antifungal drugs in topical drug delivery systems. Improved antifungal drug penetration into the nail bed is made possible by liposomal formulations and nanotechnology, which boosts therapeutic efficacy and minimizes systemic side effects.
Telemedicine platforms facilitate remote consultations, improving patient access to medical specialists. Digital health applications enhance patient participation and treatment plan adherence for onychomycosis by providing virtual follow-ups, medication reminders, and educational materials. Formulations for medications can be customized because of 3D printing technology. Treatment accuracy and effectiveness are improved when antifungal drugs are customized to meet the unique requirements of each patient, including nail bed composition and thickness.
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Get a Customized VersionHeightening Diabetes Prevalence that Raises Susceptibility to Fungal Infections
The demographic shift towards an aging population mostly causes growing rates of onychomycosis. Due to several variables, including weakened immune systems, decreased blood flow, and slower nail development, older people are more vulnerable to fungal infections. The rising incidence of onychomycosis is partly attributed to the diabetes epidemic, which is a condition linked to a heightened susceptibility to fungal infections.
Because diabetes affects blood circulation and the immune system, people with diabetes are more likely to get infections in their feet, including onychomycosis. Using public areas like gyms, swimming pools, and nail salons as part of a modern lifestyle also helps to spread fungal diseases. These conditions are ideal for developing onychomycosis because they involve exposure to warm, humid surroundings.
In addition, globalization and increased international travel have facilitated the regional spread of fungal diseases. Travelers on business and vacation may pick up onychomycosis in one place and bring it back to their home regions, which could lead to a more widespread infection. The risk of onychomycosis can be raised by not maintaining adequate foot hygiene, such as keeping feet dry and clean. Fungal infections can persist and recur due to poor foot care, which increases the need for efficient treatment solutions.
People who are regularly into sports, have weakened immune systems, or have experienced nail trauma in the past are more likely to acquire onychomycosis. Identifying high-risk populations aids in focused diagnosis, treatment, and prevention efforts. A rise in the number of people seeking medical attention can be attributed to increased knowledge of onychomycosis and advancements in diagnostic capability. Growing patient pools necessitate treatment, which is fueled by higher diagnostic rates and propels market expansion.
Limited Treatment Efficacy
The nail bed is frequently affected by onychomycosis, which makes it difficult for topical medications to penetrate and reach the infection site adequately. This restriction makes certain treatments, especially topical solutions, and lacquers, less effective. Systemic drugs have difficulty reaching therapeutic concentrations in the affected portions of the nail due to the nail's limited blood supply.
The ineffective growth rate impairs the prompt transport of drugs to the infection site, which influences the effectiveness of treatment. Due to their persistence, it may be difficult to eradicate nail plate fungal infections completely. Fungal hiding abilities inside the nail structure lead to limited treatment efficacy and resistance.
Prolonged Treatment Duration
Long-term treatment plans raise the risk of patient non-adherence. The discomfort and time commitment of lengthy therapy can demotivate patients or cause them to stop treatment too soon, which can result in less-than-ideal results. Patients may need help to stick to a long-term treatment strategy. Reductions in compliance can have an impact on the treatment's overall effectiveness. These factors include forgetfulness, inconvenience, and the lack of immediate symptom relief.
Completing the entire course of treatment is critical to the effectiveness of onychomycosis therapy. Therapy outcomes may suffer from a partial cure, an infection that returns, or the emergence of antifungal resistance due to incomplete or abruptly stopped therapy.
Pacing Development of Novel Antifungal Drugs
The variety of onychomycosis treatment options has increased with the development of new antifungal medications. Because of this variety, medical professionals can customize treatment programs to meet each patient's unique needs, which leads to better results. New antifungal medications frequently have better efficacy profiles, resulting in faster and greater rates of onychomycosis clearance. Improving efficacy is essential to overcoming the problem of treatment resistance and improving patient contentment. With the advancement of medication discovery, it is now possible to create targeted medicines that target specific fungal processes or mechanisms.
With less of an adverse influence on healthy tissues and fewer side effects, targeted medications can provide more accurate and efficient care. Promising approaches include creating combination treatments that utilize several antifungal drugs. Reducing the likelihood of resistance, addressing the complexity of onychomycosis infections, and improving efficacy can all be achieved by combinations. Moreover, new formulations and delivery systems are being developed to increase the penetration of antifungal medications into the nail bed where onychomycosis infections usually occur. Improved nail penetration adds to the efficacy of treatment.
Certain new antifungal medications are made to resolve onychomycosis more quickly and effectively, which results in shorter treatment times. This could improve patient happiness and compliance, which would help the industry expand. Creating antifungal medications with better safety records and diminished adverse effects amplifies patient acceptance. Reduced adverse effect profiles promote greater adherence to treatment plans, which aids in the general growth of the market.
Which is the Highest Adopted Treatment Type for Onychomycosis?
Drugs Remain the Most Preferred Treatment Type Category, Topical Drugs Dominant
The treatment type segment is segmented into drugs (oral, Rx, OTC, topical, Rx, OTC), lasers (C02 ablative lasers, Nd: YAG lasers, dual-wavelength near-infrared lasers), and photodynamic therapy. The drugs (topical) segment is expected to dominate the market. Topical treatments often have higher patient compliance and adherence rates than oral treatments, which need longer treatment periods.
Better adherence results from the treatment's ease of application and decreased strain, which increases the treatment's overall effectiveness. Nonetheless, the onychomycosis treatment market's lasers (CO2 ablative lasers) segment is expanding at the quickest rate. Demand for this technology is expected to rise as more medical experts accept the use of CO2 ablative lasers in treating onychomycosis. Adoption rises in line with the ongoing research and successful clinical outcomes.
What is the Targeted Disease Indication?
Distal Subungual Onychomycosis at the Forefront Owing to its Chronic and Persistent Nature
The disease indication segment is bifurcated into distal subungual onychomycosis, white superficial onychomycosis, proximal subungual onychomycosis, candidal onychomycosis, and total dystrophic onychomycosis. The distal subungual onychomycosis market segment is the largest for onychomycosis treatment. DSO is characterized by its chronic and enduring nature and frequently needs extended therapy. Because of this trait, there is a greater need for efficient therapies that can deal with the unique problems brought on by recurring fungal infections in the distal subungual area.
Nevertheless, white superficial onychomycosis is the market segment exhibiting the most rapid growth. The distinctive white chalky appearance on the nail surface is one of the features of white superficial onychomycosis. Treatments aimed at addressing the unique characteristics of this indication are in high demand due to the unique nature of WSO.
Which is the Largest Segment Based on Age Group of Consumers?
The Age Group of 40 to 64 Years Spearheads in Demand Generation
The age group segment is sub-segmented into 0 to 18 years, 18 to 39 years, 40 to 64 years, and 65 years and above. 40 to 64 years represents the greatest market segment for the onychomycosis treatments industry. The age range of 40 to 64 years old is associated with a higher risk of fungal nail infections, and onychomycosis prevalence tends to increase with age.
The factors such as slowed nail growth, decreased blood circulation, and increased aging-related changes cause the occurrence. On the contrary, the market segment characterized by the most rapid growth is 18 to 39 years. Individuals between 18 and 39 frequently lead busy lifestyles, participating in social events, sports, and fitness activities. Their exposure to fungal-infesting surroundings because of these activities may increase the need for onychomycosis treatment.
Which is the Major Distribution Channel?
Dermatology Clinics Dominant as Conduct Various Topical and Systemic Treatments
The distribution channel segment is categorized into institutional sales, hospitals, dermatology clinics, retail sales, retail pharmacies, drug stores, and mail-order pharmacies & online sales. Dermatology clinics occupy the highest market share. Different treatment options, including topical and systemic drugs, are available for onychomycosis at dermatology clinics. Based on each patient's specific needs, dermatologists can offer different treatment strategies or prescribe antifungal creams, ointments, and oral drugs.
In contrast, the hospital market segment is expanding at the quickest rate. Modern diagnostic facilities, such as labs and imaging services, are well-equipped in hospitals. Determining the specific type and severity of onychomycosis is crucial as it informs the choice of suitable treatment alternatives. An accurate diagnosis is, therefore, imperative.
North America Tops the List of Regional Performers on the Back of the Fastest Expanding Diabetic Pool
Diabetes patients are more prone to fungal infections, such as onychomycosis, due to weakened immune systems and decreased blood circulation. Individuals with diabetes have a much greater incidence of onychomycosis. The frequency of diabetic foot complications is high because the disease is frequently linked to poor circulation, neuropathy, and an increased susceptibility to fungal infections in warm, humid environments.
People with diabetes are also more likely to develop onychomycosis. Peripheral vascular disease and diabetic foot ulcers are two additional problems that are commonly associated with onychomycosis. Patients with diabetes who co-occur with these illnesses require fast and efficient treatment for onychomycosis.
Explosion of the Aging Population Across Asian Countries to Elevate Asia Pacific’s Market Attractiveness
China, and India, two of the world's most populous nations, are in the Asia Pacific region. The population's sheer size and density generate a sizable market for onychomycosis therapies because even a low prevalence rate results in a sizable number of afflicted people. The Asia Pacific region has a varied demographic landscape with national age, lifestyle, and health differences.
Due to this variation, a broad range of onychomycosis instances calls for various treatment approaches catered to various patient profiles. The aging population is growing in several Asia Pacific nations, including South Korea, and Japan. Onychomycosis is more common in older people, and as the senior population rises, so does the need for efficient therapies.
The worldwide onychomycosis treatment market is expected to develop significantly in the future due to several converging factors; an aging global population is causing an increasing number of cases of onychomycosis. This is because older people have poorer immune systems and slower-growing nails, which makes them more vulnerable to fungal infections. This change in the population is a major factor propelling the market since it increases the need for efficient treatment solutions.
Lifestyle-related variables such as a higher frequency of diabetes and impaired peripheral blood circulation, are also driving the prevalence of onychomycosis. More people are seeking medical attention as the ailment becomes more widely known, which increases overall market demand. Furthermore, more effective topical and oral treatments are being developed due to developments in formulation sciences and medical technology, enhancing patient compliance and therapeutic outcomes.
Strategic alliances and cooperation between the biotechnology and pharmaceutical industries are anticipated to accelerate R&D activities and promote innovation in the field. This cooperative approach will likely lead to the development of new treatment modalities that tackle the shortcomings of existing medicines, giving medical practitioners more successful and diversified options. Personalized medicine, in which therapies are customized based on the unique characteristics of each patient, is another trend that the industry is about to see. Patient care has advanced significantly with this strategy, which maximizes therapeutic efficacy and reduces side effects.
Supply-side Dynamics
Global pharmaceutical giants engaged in onychomycosis research, development, and production, such as Johnson & Johnson, Pfizer, and Merck, are US-based. These businesses frequently have production sites outside of the US, in different nations. The US is home to several reputable research institutes and universities working to create new drugs and creative delivery systems for onychomycosis. The US FDA establishes strict quality and safety guidelines for medications, guaranteeing the effectiveness and welfare of patients for onychomycosis treatments made domestically or imported.
The manufacturing of onychomycosis treatments is distributed geographically, with significant contributions from Brazil, China, India, Germany, and Switzerland. Every nation has unique expertise, such as packaging, finished product formulation, or API manufacture. China is a major producer of active pharmaceutical ingredients, or APIs, for various medications, including several therapies for onychomycosis. This makes it an important participant in the market for completed goods and the global supply chain.
Additionally, onychomycosis is more common in nations with older populations and more readily available healthcare. This covers the US, Canada, Japan, and Western European countries. Hot, humid weather encourages the growth of fungi, which raises the incidence of onychomycosis in Southeast Asian nations, including Vietnam, Thailand, and Indonesia.
Countries like the US, Germany, and France have easier access to onychomycosis therapy because of their well-established healthcare systems and broad insurance coverage. Expanding healthcare infrastructure and rising disposable incomes in nations like Brazil, China, and India are unlocking access to treatment, which could increase consumption.
Prominent organizations, including Johnson & Johnson and Pfizer Inc., are at the vanguard of this sector; J&J has a strong commitment to research and development, as seen by its antifungal research team's dedication and continuous investments in the creation of novel antifungal drugs and therapeutic modalities. This can entail researching possible uses for currently available medications or creating brand-new treatments tailored especially for onychomycosis. The company actively engages with academic institutions and biotech companies to spur innovation in the antifungal sector and lead to advances in the treatment of onychomycosis.
Antifungal medications from J&J such as Diflucan (fluconazole), and Spravato (esketamine) are extensively used to treat fungal infections. Although not recommended for onychomycosis, these already-approved medications may be modified or redesigned with this purpose in mind following regulatory approval and clinical trials. Suppose the company decides to introduce a new product into the onychomycosis market. In that case, it can leverage its existing marketing and distribution networks for antifungal medications to reach a broad audience swiftly.
Crisaborole, a non-steroidal topical PDE4 inhibitor for atopic dermatitis, is the flagship of Anacor Pharmaceuticals. Pfizer acquired Anacor Pharmaceuticals in 2020 to have access to this asset. Although crisaborole is not currently licensed to treat onychomycosis, its anti-inflammatory qualities and good safety record may make it a viable treatment option. It is probable that Pfizer is investigating the efficacy of crisaborole for onychomycosis and that they may carry out clinical trials to determine the medication's safety and efficacy for this novel application. This may provide a unique topical approach with fewer adverse effects compared to conventional oral antifungals.
New Product Launch
In July 2021, Lupin introduced Tavaborole Topical Solution, a generic version of Kerydin Topical Solution, in the United States. The product was intended to treat Trichophyton rubrum or Trichophyton mentagrophytes-caused onychomycosis of the toenails.
Market Impact: With the introduction of tavaborole as a generic, the cost of treating onychomycosis was considerably lower than with the branded Kerydin. Patients found it easier to access, which could result in more people being diagnosed and starting treatment. Tavaborole's increased competitiveness with other generics contributed to price reductions that benefited patients and healthcare systems.
Alembic Pharmaceuticals Limited (Alembic) announced in April 2021 that Aleor Dermaceuticals Limited (Aleor), a joint venture, had received tentative approval for its abbreviated new drug application (ANDA) for Efinaconazole Topical Solution from the US Food & Drug Administration (US FDA). The application is intended to treat onychomycosis in the toenail.
Market Impact: As a generic equivalent of Bausch Health Americas' Jublia, finaconazole entered the market, providing patients with a more cost-effective option and possibly boosting the treatment's overall market penetration. Price competition resulted from this, and Jublia's original market share might have decreased. Launching a novel treatment option raised awareness of onychomycosis and prompted market expansion. Due to its topical administration and shorter treatment duration than other oral drugs, fluconazole may have drawn in additional patients.
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Details |
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Forecast Period |
2023 to 2030 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
US$ Million for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
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The market is anticipated to grow at a CAGR of 7.6% during the projected period.
The onychomycosis treatment market was valued at US$51 billion in 2023.
The US held the largest market share in 2023.
Some of the prominent players in the market are Teva Pharmaceutical Industries Ltd., Sanofi S.A., Medimetriks Pharmaceuticals, Inc., Galderma, Johnson & Johnson, Novartis AG, Moberg Pharma AB, Cardinal Health, Inc., Pfizer Inc., Almirall, S.A., Bayer AG, Viatris Inc., GlaxoSmithKline plc, Cipla Ltd., and Dr. Reddy’s Laboratories Ltd.
The CO2 ablative lasers segment is expected to grow at the fastest pace during the forecast period.
