Onychomycosis Treatment Global Market Report 2024

The global onychomycosis treatment market has grown strongly in recent years. It will grow from $3.39 billion in 2023 to $3.65 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing fungal infections, aging population, public awareness, rising prevalence of onychomycosis, rising disposable incomes.

The global onychomycosis treatment market is expected to see strong growth in the next few years. It will grow to $4.73 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to aging population, telemedicine expansion, combination therapies, increasing access to healthcare, changing lifestyles and environmental factors, increasing prevalence of diabetes. Major trends in the forecast period include dermatological advancements, drug delivery innovations, personalized treatment plans, topical treatment advances, digital health solutions, laser therapy.

The increasing prevalence of fungal infections is poised to drive the expansion of the onychomycosis treatment market in the foreseeable future. Fungal infections encompass a spectrum of microbial diseases caused by a variety of fungi, affecting diverse areas of the body or triggering specific health conditions. Onychomycosis, a fungal nail infection, is conventionally managed with oral antifungal drugs or topical antifungal solutions to eradicate the underlying fungal infection and promote the restoration of healthy nail growth. For example, recent data from the Centers for Disease Control and Prevention (CDC) in March 2023 revealed 3,270 clinical cases and 7,413 screening cases of C. auris in the United States in 2021. Additionally, the CDC reported an increase in the total number of deaths resulting from fungal infections, rising from 5,922 in 2020 to 7,199 in 2021. Consequently, the surge in fungal infections is a key driver of growth in the onychomycosis treatment market.

The rising prevalence of diabetes is poised to drive the growth of the onychomycosis treatment market in the foreseeable future. Diabetes is a chronic medical condition characterized by elevated levels of blood glucose (blood sugar), increasing the likelihood of developing onychomycosis, elevating the risk of infection, and delaying the healing process. Topical and laser therapies play a crucial role in preventing complications and enhancing foot health, ultimately reducing the risk of subsequent infections. For example, in March 2021, a report from the LSU AgCenter, a Louisiana-based agricultural research center, indicated that in 2021, the United States had over 34.2 million individuals living with diabetes, and it is projected that the global population affected by diabetes will surge to 578 million by the year 2030. As a result, the growing prevalence of diabetes is a key driver behind the expansion of the onychomycosis treatment market.

The primary challenge, and one that could impede the market's growth during the forecast period, is the restricted availability of approved treatments. Currently, the treatments for onychomycosis, including topical and oral antifungal medications, exhibit limited effectiveness and may necessitate a prolonged duration to deliver visible results. Moreover, not all available therapies have received approval for use in all regions, and the process of obtaining regulatory approval for novel treatments can be protracted and costly. For example, although ciclopirox 8% hydrolacquer and polyurethanes have exhibited promise in clinical trials, their widespread availability and approval for use in all countries have yet to be achieved. Consequently, the onychomycosis treatment market is constrained by the limited availability of approved treatments.

Prominent companies operating in the onychomycosis treatment market are placing a strong emphasis on the development of novel products, like MOB-015, and obtaining approvals from regulatory agencies as part of their strategy to secure a competitive edge within the market. For instance, Moberg Pharma AB, a pharmaceutical company based in Sweden, which successfully obtained approval for MOB-015 from the European Union to treat mild to moderate fungal nail infections in adults. This EU approval marks a significant milestone as the first global marketing authorization for this innovative onychomycosis medication. The approval is underpinned by two Phase 3 trials supporting MOB-015, which demonstrated enhanced mycological cure rates (76% compared to up to 42% for comparators) and a substantially higher overall cure rate than the vehicle, all achieved without any occurrence of serious adverse effects. MOB-015, a topical terbinafine formulation, enables the delivery of effective terbinafine concentrations to the nail and nail bed without the associated systemic exposure risk associated with oral terbinafine treatments.

In August 2023, Karo Healthcare AB, a Swedish consumer healthcare company, completed the acquisition of Lamisil from Haleon PLC for an approximate sum of $297.86 million. This strategic move to acquire Lamisil significantly enriches Karo Healthcare's portfolio of over-the-counter (OTC) products and extends its offerings within the field of foot health. Furthermore, this transaction serves to broaden Karo's global footprint and augment its market presence in the realm of Foot Health. Lamisil, a well-known oral antifungal medication primarily utilized for the treatment of onychomycosis, was previously held by Haleon PLC, a UK-based consumer healthcare enterprise.

Major players in the onychomycosis treatment market are Johnson & Johnson Services Inc., Bristol-Myers Squibb Company, Viatris Inc., Teva Pharmaceutical Industries Ltd., Hetero Drugs Ltd., Sun Pharmaceutical Industries Limited, Cadila Pharmaceuticals Ltd., Dr. Reddys Laboratories Ltd., Intas Pharmaceuticals Limited, Cipla Limited, Lupin Limited, Glenmark Pharmaceuticals Ltd., Aurobindo Pharma Limited, Alkem Laboratories Limited, Jubilant Life Sciences Ltd., Torrent Pharmaceuticals Ltd., Mankind Pharma Ltd., Biocon Limited, Emcure Pharmaceuticals Limited, Alembic Pharmaceuticals Ltd., Laurus Labs Limited, Strides Pharma Science Limited, Aarti Drugs Ltd., NATCO Pharma Ltd., Unichem Laboratories Ltd., Indoco Remedies Ltd., Apex Laboratories Pvt. Ltd., Wockhardt Ltd., Nuray Chemicals Private Limited.

North America was the largest region in the onychomycosis treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in onychomycosis treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the onychomycosis treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary forms of onychomycosis include distal sublingual onychomycosis, white superficial onychomycosis, proximal sublingual onychomycosis, candida onychomycosis, and others. Distal sublingual onychomycosis, for instance, is a fungal nail infection that affects the underside of the nail tip, often caused by dermatophyte fungi. Treatments encompass a variety of approaches, including medications, laser therapy, and photodynamic therapy, catering to different age groups, including individuals aged 0 to 18 years, 18 to 39 years, 40 to 64 years, and those aged 65 years and above. Multiple distribution channels are involved, including hospital pharmacies, retail pharmacies, and others.

This report provides onychomycosis treatment market statistics, including onychomycosis treatment industry global market size, regional shares, competitors with a onychomycosis treatment market share, detailed onychomycosis treatment market segments, market trends and opportunities and any further data you may need to thrive in the onychomycosis treatment industry. This onychomycosis treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The onychomycosis treatment market consists of revenues earned by entities by providing combination therapy, nail debridement and Carbon dioxide ablative laser treatment. The market value includes the value of related goods sold by the service provider or included within the service offering. The onychomycosis treatment market also includes sales of griseofulvin, terbinafine, itraconazole, ketoconazole and more. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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