Pune, India, Sept. 27, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global Dermatophytic Onychomycosis Treatment Market Size was valued at USD 4.68 billion in 2022 and is projected to grow from USD 5.05 billion in 2023 to USD 8.64 billion by 2030, exhibiting a CAGR of 8.0% during the forecast period. The expansion can be credited to the growing geriatric population. Various research studies cite that the prevalence of this condition increases with age. This information is provided by Fortune Business Insights™ in its research report titled Dermatophytic Onychomycosis Treatment Market, 2023-2030.
Key Industry Development-
March 2021: HUYABIO International in collaboration with Tianjin Institute of Pharmaceutical Research submitted a Chinese New Drug Application for Efinaconazole as Jublia for treating onychomycosis.
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Key Takeaways –
- Dermatophytic Onychomycosis Treatment Market size in North America was USD 2.07 billion in 2022
- Increasing Incidence of Dermatophytic Onychomycosis Expected to Propel Market Expansion
- The Existence of Promising Pipeline Candidates to Stimulate Market Expansion
- The nail paints segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- Bausch Health Companies Inc. (Canada)
- Pfizer Inc. (U.S.)
- Galderma (Switzerland)
- GlaxoSmithKline plc (U.K.)
- Janssen Pharmaceuticals, Inc. (U.S.)
- Cipla Inc. (India)
- Kaken Pharmaceuticals Co., Ltd. (Japan)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 8.0% |
| 2030 Value Projection | USD 8.64 Billion |
| Base Year | 2022 |
| Dermatophytic Onychomycosis Treatment Market Size in 2022 | USD 4.68 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 136 |
| Segments Covered | Product Type, By Route of Administration, Type, Distribution Channel and Geography |
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Drivers & Restraints:
Rising Prevalence of Dermatophytic Onychomycosis to Drive the Market Growth
One of the major factors driving the dermatophytic onychomycosis treatment market growth is the growing occurrence of onychomycosis. When compared to that of fingernails, the toenail onychomycosis infection is more common.
Despite such growth opportunities, the unawareness among patients about the seriousness of the infection may hinder the market growth.
Segmentation:
By Product Type
- Tablets
- Nail Paints
By Route of Administration
- Oral
- Topical
By Type
- Prescribed
- Over-the-Counter (OTC)
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Channels
Regional Insights:
North America to Dominate Owing to Growing Number of Prescriptions for Onychomycosis
The North America dermatophytic onychomycosis treatment market share is projected to witness significant growth over the forecast period. The regional expansion can be credited to the surging number of prescriptions for onychomycosis. As per Moberg Pharma AB’s press release, around 5 million prescriptions are written for onychomycosis treatment every year in the region.
The Asia Pacific market for dermatophytic onychomycosis treatment is expected to expand significantly during the forecast period. The growing prevalence of diabetes has increased the need for dermatophytic onychomycosis treatment in the region, fueling market expansion.
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Competitive Landscape:
Prominent Companies Invest in Product Innovations to Outperform the Competitors
Top players of dermatophytic onychomycosis treatment are investing substantial amounts in R&D for the development of innovative products. Some other competitive strategies deployed by companies include mergers and acquisitions, joint ventures, partnerships, and others.
FAQs
How big is the Dermatophytic Onychomycosis Treatment Market?
Dermatophytic Onychomycosis Treatment Market size was USD 4.68 billion in 2022. It is expected to reach USD 8.64 billion in 2030.
How fast is the Dermatophytic Onychomycosis Treatment Market growing?
The Dermatophytic Onychomycosis Treatment Market will exhibit a CAGR of 8.0% during the forecast period, 2023-2030.
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