NEWARK, Del, July 02, 2024 (GLOBE NEWSWIRE) -- The global tinea pedis treatment market is estimated to be valued at USD 1,496.3 million in 2024. Global demand will likely increase at 5.2% CAGR, with total industry size reaching USD 2,484 million by 2034.
Antifungals remain the most preferred drugs to treat tinea pedis. The target segment accounted for a revenue share of 71.8% in 2023. Antifungal medications specifically target the fungi responsible for causing tinea pedis infections, such as dermatophytes like Trichophyton rubrum and Trichophyte mentagrophytes.
By inhibiting fungal growth or killing the fungi outright, antifungals effectively treat the underlying cause of the infection, providing symptomatic relief and promoting healing. These medications are gaining popularity due to their targeted action.
Several factors are expected to stimulate the growth of the tinea pedis market during the assessment period. These include the escalating prevalence of fungal infections like tinea pedis, growing health awareness, and the development of novel antifungal medications.
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Tinea pedis is one of the most common fungal infections globally, affecting individuals of all ages and demographics. The prevalence of tinea pedis varies across regions, with higher rates often observed in warm and humid climates where the environment is conducive to fungal growth.
Countries with high population densities, inadequate sanitation facilities, and limited access to healthcare are experiencing a higher burden of tinea pedis infections. The widespread prevalence of tinea pedis, influenced by factors such as gender, age, and lifestyle habits, serves as a key driver for the tinea pedis treatment market.
As the incidence of tinea pedis continues to grow globally, so will demand for tinea pedis treatment. Patients with tinea pedis often opt for antifungals and other medications to relieve symptoms and cure this fungal infection.
Advances in medical research and technology are allowing companies to develop more effective and convenient treatment solutions. This will further boost industry growth during the assessment period.
Key Takeaways from the Tinea Pedis Treatment Market Study:
- The global tinea pedis treatment industry is set to advance at 5.2% CAGR through 2034.
- By disease indication, the interdigital tinea pedis is forecast to account for a share value of 63.4% in 2024.
- By route of administration, the topical segment will likely hold a value share of 71.4% in 2024.
- By distribution channel, the hospital pharmacies segment is anticipated to hold a market share of 33.4% in 2024.
- By drug class, the antifungal category dominates the market, accounting for 71.8% of the market share value in 2023.
- The United States is poised to exhibit a CAGR of 4.2% through 2034.
- Demand in China is predicted to increase at 6.3% CAGR between 2024 and 2034.
“Medical research has fuelled the creation of potent topical antifungal creams and ointments specifically tailored to combat tinea pedis. Development of these new enhanced formulations will bode well for the industry during the assessment period,” says a Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
What are the Factors Restraining Demand for Tinea Pedis Drugs?
Although various treatment options and antifungal drugs on the market claim improvement but there have been multiple re-occurrences of tinea pedis infection even after prolonged treatment.
Hence, the increasing concerns of the FDA and the stringent guidelines for the approval and launching of such products may pose as a deterring factor towards the growth of the market.
Another factor restraining the growth is the limited awareness of fungal infections in underdeveloped countries. These, along with patients’ non-adherence to the treatment regime, low treatment seeking rates, counterfeit and off-label drug use, high-cost constraint and lack of resources, might impede the growth in tinea pedis treatment market.
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Who is Winning?
Glenmark Pharmaceuticals Inc., USA, McKesson (NorthStar Rx LLC), Camber Pharmaceuticals, Inc., Sebela Pharmaceuticals, Inc., Blueberry Therapeutics Ltd., Exeltis USA, Inc., Viatris (Mylan N.V.), Bayer AG, GlaxoSmithKline Plc (GSK), and Novartis AG are few of the leading players listed in the report.
Top companies are constantly striving to develop new antifungal medications with enhanced antifungal activity, reduced side effects, and improved skin compatibility. They are also implementing strategies like acquisitions, distribution agreements, and partnerships to stay ahead of the competition.
Tinea Pedis Treatment Market Updates
- In January 2024, Sun Pharmaceutical Industries Limited and Taro Pharmaceutical Industries Ltd. entered into a definitive merger agreement.
- In September 2023, Aurobindo Pharma announced that it was entering the Indonesian market by acquiring 15 formulation brands from Pfizer Inc. and Viatris Inc.
Want More Insights?
Future Market Insights (FMI) brings a comprehensive research report on projected revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. The global tinea pedis treatment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into the tinea pedis treatment industry based on disease indication (interdigital tinea pedis, plantar tinea pedis, and vesicular tinea pedis), route of administration [topical (gel, cream, spray, lotion, powder) and oral], distribution channel (hospital pharmacies, retail pharmacies, drug stores, online pharmacies), and drug class (antifungals and combination) across seven key regions.
Leading Tinea Pedis Treatment Brands
- Glenmark Pharmaceuticals Inc., USA
- McKesson (NorthStar Rx LLC)
- Camber Pharmaceuticals, Inc
- Sebela Pharmaceuticals, Inc.
- Blueberry Therapeutics Ltd.
- Exeltis USA, Inc.
- Bausch Health Companies Inc. (Valeant Pharmaceuticals, Inc.)
- CorePharma, LLC
- Viatris (Mylan N.V.)
- Bayer AG
- Glaxosmithkline Plc (GSK)
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Perrigo Company plc
- Aurobindo Pharma
- Taro Pharmaceutical Industries Ltd.
Key Segments of Tinea Pedis Treatment Market Report:
By Disease Indication:
As per disease indication, the industry has been categorized into interdigital tinea pedis, plantar tinea pedis, and vesicular tinea pedis.
By Route of Administration:
Based on route of administration, the report is segmented into topical and oral. The topical segment is further divided into gel, cream, spray, lotion, and powder.
By Distribution Channel:
Different distribution channels include hospital pharmacies, retail pharmacies, drug stores, and online pharmacies.
By Drug Class:
In terms of drug class, the industry is categorized into antifungals and combinations.
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
Authored by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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