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Onychomycosis Treatment Market By Disease Type (Distal Subungual Onychomycosis, Proximal Subungual Onychomycosis, White Superficial Onychomycosis, Candidal Onychomycosis, Others) By Treatment Type (Laser Therapy, Photodynamic Therapy, Drug Treatment) By Drug Class (Allylamine, Azole, Griseofulvin,Others) By Distribution Channel (Hospitals and Clinics, Online Stores, Retail Pharmacies, Others) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

About this report

The Global Onychomycosis Treatment Market report explores the critical analysis of the onychomycosis treatment industry using key parameters. The report consists of investment strategies, the need for investments in the onychomycosis treatment industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the onychomycosis treatment industry and how economic and non-economic barriers are helping the market grow. Moreover, the report analyses the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses include Porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

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Key Highlights of the report

How are the major segments performing in the Onychomycosis Treatment Market?

  • The distal subungual onychomycosis segment led the market in disease type in 2021 and is expected to continue throughout the projection period. The segment is growing due to increased hospital adoption of laser technologies for treating distal subungual onychomycosis and growing patient awareness about the availability of various therapies for distal subungual onychomycosis. The increased R&D activities to develop advanced products for treating distal subungual onychomycosis nail infection propels the onychomycosis treatment market forward.
  • The drug treatment type segment led the global market in 2021 due to increasing drug adoption as first-line therapy for the treatment of fungal infection diseases in the nails and a rising number of product launches. The increased investment by major players in developing high-quality drugs for skin conditions in the nails is propelling the onychomycosis treatment market forward.
  • In 2021, the allylamine segment held the largest share of the drug class. Allylamines are the most widely used drug class and are effective against most fungal infections. Topical allylamines such as Lamisil and Naftin are used to treat onychomycosis. The increased availability and use of such drugs will impact industry revenue over the forecast period.
  • In 2021, the hospitals and clinics segment dominated the global market in distribution channels due to increased hospital and clinic visits and the availability of drugs in hospital pharmacies. Also, market revenue generated through hospital and clinic pharmacies is higher as infected patients visit nearby hospitals for doctors’ and consultation prescriptions.

Which region dominated the Onychomycosis Treatment Market?

North America dominated the onychomycosis treatment market in 2021 and is expected to maintain its dominance throughout the forecast period. This can be attributed to an increase in nail-borne infections, diabetes, and increased awareness of available treatments. Another key factor influencing regional growth is the accessibility of highly effective treatment options for onychomycosis, such as prescription drugs and laser therapies. The landscape of North America benefits greatly from a favorable reimbursement environment in the U.S. and the highest onychomycosis prevalence. The region's market will benefit from increased R&D activities. For instance, Pfizer Inc. announced the start of its onychomycosis clinical studies in October 2020. The first phase involved determining whether the AN2690 topical solution is an effective treatment for toenail onychomycosis.

What is the competitive environment of the Onychomycosis Treatment Market?

There are numerous players in the onychomycosis treatment market. Manufacturers in the market invest heavily in research and development. These are the activities that support the onychomycosis treatment market. They result in the development of new formulations and treatment options. Mergers, partnerships, and collaborations are always top priorities for onychomycosis treatment market players. These activities help increase the players' influence, eventually leading to an increase in the growth rate. For instance, Alembic Pharmaceuticals Limited (Alembic) announced in April 2021 that its joint venture Aleor Dermaceuticals Ltd had received tentative approval from the US Food & Drug Administration for its abbreviated new drug application (ANDA) for Efinaconazole Topical Solution for the treatment of toenail onychomycosis. Likewise, Moberg Pharma announced a partnership with Bayer in February 2019 to promote and distribute MOB-015 in Europe. MOB-015 is an internally developed topical formulation for the treatment of onychomycosis.

Executive Summary

What are all the technical developments being developed in the Onychomycosis Treatment Market?

The increased adoption of laser technologies for treating distal subungual onychomycosis in hospitals, the rising adoption of drug treatments, and growing investment by major players to develop high-quality onychomycosis therapies are expected to drive market growth. Laser onychomycosis treatment is a painless and non-invasive method of targeting the fungus that causes onychomycosis. The laser light penetrates the nail and kills the fungus while causing no harm to the surrounding tissue. Laser treatment for onychomycosis is a safe and effective alternative to oral antifungal medications, which can have side effects. For instance, the next-generation nail fungus treatment MOB-015 (Moberg Pharma) is aimed at the global over-the-counter (OTC) and prescription markets. The company's patented formulation technology allows high concentrations of a proven antifungal substance (terbinafine) to be delivered into and through the nail. It has keratolytic and emollient properties that contribute to visible improvement in a short period.

Which are the key investments by the players in the Onychomycosis Treatment Market?

Pharmaceutical companies have increased their R&D spending on the disease due to its rising prevalence. Various topical treatment solutions fail to penetrate deep inside the nail bed and thus do not completely cure the infection. Various players are investing heavily in developing novel drugs to meet the growing demand for cures. For instance, Hexima conducts a phase I/II clinical study on HXP124, a plant defensin anti-fungal molecule for treating dermatophytes onychomycosis. HXP124 has a higher penetration rate than Kerydin and Jublia. Similarly, Hallux, a US-based player, completed a USD 7.1 million Series A round in December 2020, allowing it to conduct Phase IIa clinical trials of its drug/device combination product for onychomycosis.

Some of the major players in the market are Cipla Limited, Bausch Health Companies Inc, Dr. Reddy's Laboratories, GlaxoSmithKline PLC, Galderma SA, Kaken Pharmaceutical Co. Ltd, Moberg Pharma AB, Lumenis Ltd, Novartis AG, Pfizer Inc, and The OTC Lab B.V.

What are the Major Driving Factors for the Onychomycosis Treatment Market?

One of the key factors driving the market growth is the rising prevalence of chronic medical conditions such as onychomycosis, diabetes, HIV, and peripheral artery disease (PAD). Moreover, the growing geriatric population, prone to circulatory disorders and weakened immune systems, is propelling market growth. Onychomycosis is also common among millennials and adults, owing to increased exposure to public swimming pools and the use of contaminated, tight, or soiled clothes, shoes, and socks. Another driver of market expansion is the emergence of orally administrable, water-soluble antifungal treatment methods.

What are the Major Risks for the Onychomycosis Treatment Market?

Antifungal medications used to treat onychomycosis can cause side effects like nausea, vomiting, headaches, and stomach aches. Besides that, the topical treatments also result in rash and itching of the nearby skin. These adverse effects are expected to impede the global market growth. Alternative treatment options available for nail infections, such as Vicks Vapour Listerine and tea tree oil, are also expected to hinder the market growth over the forecast period.

Which is the key Distribution Channel in the Onychomycosis Treatment Market?

The hospitals and clinics segment led the global market in the distribution channel in 2021, and this trend is expected to continue throughout the projection period. One of the major contributors to this revenue share is the high prevalence of onychomycosis patients visiting dermatology hospitals and clinics. Besides, rising awareness about early clinical diagnosis and treatment of onychomycosis is expected to drive segment growth over the forecast period. Infected patients visit nearby hospitals for doctor visits and prescriptions, which results in higher industry revenue for hospital and clinic pharmacies.

How is the Onychomycosis Treatment Market performing in regions?

North America dominated the global market for onychomycosis treatment in 2021, owing to high drugs cost, a growing geriatric population, and a rising prevalence of diabetic and onychomycosis patient populations in the region. More than 55 million Americans are 65 years of age or older, and one-fourth of them reside in one of the three states of Florida, California, or Texas, according to Census Bureau projections for the year 2020. Seven other states, including Michigan, Illinois, Georgia, and New York, account for nearly another quarter of the 65+ population. Onychomycosis is more common as people age for various reasons, including frequent nail trauma, poor peripheral circulation, diabetes, subpar immune function, prolonged exposure to pathogenic fungi, inactivity, or the inability to trim toenails or maintain proper foot hygiene. Regional companies also strengthen their market position through various strategies such as R&D, mergers and acquisitions, and new drug launches.

Besides, Asia Pacific is expected to grow the most during the forecast period due to the increased adoption of antifungal agents for treating white superficial onychomycosis and increased investment by key players in developing high-quality onychomycosis treatment methods. For example, Kaken Pharmaceuticals Co. Ltd announced the launch of Jublia as a treatment method for dermatophytes onychomycosis in Hong Kong in 2020. Moreover, increasing the number of patients seeking medical advice due to increased awareness about various treatment options will increase regional demand.

What is the regulatory landscape for the Onychomycosis Treatment Market?

Governments worldwide are also working to raise awareness about the availability of various therapies for treating onychomycosis, fueling the global market growth. For instance, patient information leaflets for nail fungus infections are available from the British Association of Dermatologists. Increasing regulatory approval is also another key factor contributing to market growth. For instance, Zydus Lifesciences received approval from the US Food and Drug Administration in 2022 to market the antifungal Efinaconazole Topical Solution. The company has received final FDA approval to market the product. Also, Lupin Ltd received US Food and Drug Administration approval for its Tavaborole Topical Solution for onychomycosis in February 2021.

What is the Market Size of the Onychomycosis Treatment Market regarding value?

The global onychomycosis treatment market is anticipated to grow at a substantial CAGR of 5.3% in the upcoming years. The global onychomycosis treatment industry was estimated to be worth USD 4372.5 million in 2021 and was expected to be worth USD 5960.73 million by 2028.

What are the major players planning for the future of the Onychomycosis Treatment Market?

Identifying the infectious agent in onychomycosis, at least at the genus level, is critical in treating dermatophytes onychomycosis. Key market players are concentrating on developing dermatophyte strip tests to diagnose the disease rapidly. The rising cases of liver damage in patients will lead to high demand for future market growth. The development of oral anti-fungal drugs and topical treatment solutions associated with liver damage will allow the market to expand rapidly. The growing demand for better topical solutions will drive podiatrists and dermatologists to present new drug enhancement theories, which will bode well for the market. Besides, the growing popularity of nail lacquers will open up new market opportunities during the forecast period. Moreover, rising R&D spending by major players will significantly impact the market.

Segmentation of Global Onychomycosis Treatment Market -

Global Onychomycosis Treatment Market – By Disease Type

  • Distal Subungual Onychomycosis
  • Proximal Subungual Onychomycosis
  • White Superficial Onychomycosis
  • Candidal Onychomycosis
  • Others

 Global Onychomycosis Treatment Market – By Treatment Type

  • Laser Therapy
  • Photodynamic Therapy
  • Drug Treatment

Global Onychomycosis Treatment Market – By Drug Class

  • Allylamine
  • Azole
  • Griseofulvin
  • Others

Global Onychomycosis Treatment Market – By Distribution Channel

  • Hospitals and Clinics
  • Online Stores
  • Retail Pharmacies
  • Others

Global Onychomycosis Treatment Market – By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    •  U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Frequently asked questions about the global Onychomycosis Treatment Market

The global onychomycosis treatment market moderately suffered from the COVID-19 pandemic, which resulted in a decline of over 1.6% in revenue generated in 2020.

North American region accounted for the highest share in the global onychomycosis treatment market regarding value and volume.

The increasing prevalence of onychomycosis among the general population and the introduction of water-soluble antifungal treatment solutions are driving growth in the global onychomycosis treatment market.

The distal subungual onychomycosis segment had a major share in 2021, with more than 30% of the market revenue. Besides, the white superficial onychomycosis segment is projected to witness the fastest growth.

The drug treatment segment had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period.

Onychomycosis Treatment Market Scope

Report Attribute Details
Market Value in 2021 USD 4372.5 million
Market Value in 2028 USD 5960.73 million
CAGR 5.3%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Oct 2022
Category:  Healthcare
Report ID:   60748
Report Format:   PDF
Pages:   130
Rating:    4.6 (30)
Delivery Time: 24 Hours to 48 Hours   
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