Global Onychomycosis Market Overview and statistic For 2024-2033

The Business Research Company’s Onychomycosis Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 8, 2024 /EINPresswire.com/ -- The global onychomycosis market has seen substantial growth in recent years, driven by factors such as limited treatment options, an aging population, increased incidence of diabetes, expansion of the pharmaceutical industry, and growing awareness of fungal infections. The market size is projected to grow from $3.4 billion in 2023 to $3.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. Moving forward, it is expected to reach $4.45 billion by 2028, growing at a CAGR of 5.4%. This growth will be fueled by the adoption of combination drug therapies, increasing healthcare expenditure, expanding telemedicine services, and advances in topical drug formulations.

Rising Incidence of Diabetes Driving Market Growth
The surge in the diabetic population is a significant driver for the onychomycosis market. Onychomycosis, a common foot problem among diabetics, is managed through prevention and effective treatment to avoid complications associated with the disease. The International Diabetes Federation reported a threat to 537 million individuals aged 20-79 years in 2021, with projections indicating an increase to 643 million by 2030 and 783 million by 2045, underscoring the growing need for onychomycosis treatments.

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Major Players and Market Innovations
Leading companies in the onychomycosis market, including Pfizer Inc., Johnson & Johnson Services Inc., and Merck & Co. Inc., are focusing on developing innovative formulations to enhance treatment outcomes and address specific challenges associated with the condition. For instance, Lupin Limited launched Tavaborole Topical Solution, 5% in July 2021, aimed at treating onychomycosis caused by Trichophyton rubrum or Trichophyton mentagrophytes, demonstrating significant potential in the market.

Key Trends Shaping the Market
Innovations in digital technologies for diagnosis and management, the rise in over-the-counter (OTC) antifungal products, patient-friendly treatment regimens, and the emphasis on personalized medicine are key trends expected to shape the onychomycosis market in the forecast period. Collaboration between pharmaceutical companies for research and development further enhances market dynamics.

Market Segments
• Type: Distal Subungual Onychomycosis (DSO), White Superficial Onychomycosis (WSO), Proximal Subungual Onychomycosis (PSO), Candida Onychomycosis, Other Types
• Treatment: Drug Treatment, Topical Therapy, Other Treatments
• Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, Other Distribution Channels

Geographical Insights: Asia-Pacific Leading Growth
North America dominated the onychomycosis market in 2023, while Asia-Pacific is anticipated to witness the fastest growth during the forecast period. Comprehensive regional insights are available in the full report.

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Onychomycosis Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Onychomycosis Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on onychomycosis market size, onychomycosis market drivers and trends, onychomycosis market major players, competitors' revenues, market positioning, and market growth across geographies. The onychomycosis market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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