The onychomycosis market size has grown strongly in recent years. It will grow from $3.4 billion in 2023 to $3.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed during the historic period can be attributed to several factors, including limited treatment options, an aging population, a rise in the incidence of diabetes, the expansion of the pharmaceutical industry, and an increased awareness of fungal infections.
The onychomycosis market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be attributed to various factors, including the adoption of combination drug therapies, a rise in healthcare expenditure, increased awareness campaigns for onychomycosis, the expansion of telemedicine services, and advancements in topical drug formulations. Notable trends during this period encompass the integration of digital technologies in onychomycosis diagnosis and management, an increase in over-the-counter (OTC) antifungal products, the development of patient-friendly treatment regimens, a focus on personalized medicine in onychomycosis treatment, and collaborations between pharmaceutical companies for research and development.
The anticipated growth in the onychomycosis market is expected to be propelled by the increasing population of individuals with diabetes. Diabetes, characterized by inadequate insulin synthesis or ineffective insulin utilization, is a chronic disease that commonly leads to onychomycosis, posing a prevalent foot problem. Effectively managing onychomycosis is crucial for individuals with diabetes to prevent complications. Notably, the International Diabetes Federation reported in December 2021 that diabetes affected 537 million people globally (aged 20–79) in 2021, with projections estimating an increase to 643 million by 2030 and a total of 783 million by 2045. This surge in diabetes cases is a key driver for the growth of the onychomycosis market.
The globalization of pharmaceutical companies is poised to contribute to the expansion of the onychomycosis market. This trend involves pharmaceutical companies extending their operations beyond domestic or local markets to operate on a global scale. Global pharmaceutical companies play a vital role in conducting awareness campaigns and educational initiatives on various health conditions, including onychomycosis. Such initiatives contribute to increased awareness among healthcare professionals and the general public regarding the condition's prevalence and available treatment options. As an example, data from Germany Trade and Invest, a Germany-based office for foreign trade, reveals that Germany, being the fourth-largest pharmaceutical market globally and the largest in Europe, experienced a 5.4% increase in pharmaceutical sales to reach EUR 56.5 billion in 2022. The growth in biologics was particularly notable, reaching 10.5% between 2021 and 2022, generating EUR 17.8 billion in revenue in 2022 and constituting one-third of the country's entire pharmaceutical business. The globalization of pharmaceutical companies is thus playing a significant role in driving the growth of the onychomycosis market.
Product innovation stands out as a prominent trend gaining traction in the onychomycosis market, with major companies actively pursuing the development of innovative products to maintain their market positions. For instance, in December 2021, Bausch Health Companies Inc., a Canada-based pharmaceutical company, introduced Julia (aliconazole) topical solution for onychomycosis treatment. Notably, Julia received approval from the American Podiatric Medical Association (APMA), underscoring its recognition for supporting foot health when used consistently in a daily foot care regimen and professional treatment program.
Major companies in the onychomycosis market are focusing on the development of innovative formulations to address specific challenges associated with the condition and enhance treatment outcomes. Lupin Limited, an India-based pharmaceutical company, exemplifies this trend with the launch of Tavaborole Topical Solution in July 2021. This oxaborole antifungal solution is designed for the topical treatment of onychomycosis of the toenails caused by Trichophyton rubrum or Trichophyton mentagrophytes, serving as the generic equivalent of Anacor Pharmaceuticals Inc.'s Kerydin Topical Solution 5%, with an estimated annual sale of USD 53 million in the U.S.
In December 2021, Kaken Pharmaceutical Co. Ltd., a US-based pharmaceutical company, acquired Artha Therapeutics Inc. This undisclosed-sum acquisition allows Kaken to enhance its research and development capabilities by leveraging Artha's technologies and expertise in drug repositioning. Artha Therapeutics Inc., a Japan-based biopharmaceutical company, specializes in providing topical onychomycosis treatment in Japan. This acquisition reflects a strategic move to leverage synergies and further develop onychomycosis treatment options.
Major companies operating in the onychomycosis market report are Pfizer Inc., Johnson & Johnson Services Inc., Merck & Co. Inc., Bayer AG, Novartis AG, GlaxoSmithKline PLC, Eli Lilly and Company, Sandoz International GmbH, Bausch Health Companies Inc., Perrigo Company PLC, Galderma Laboratories LP, Aurobindo Pharma Limited, Cipla Inc., Dr. Reddy's Laboratories Ltd., Apotex Inc., Lupin Limited, Amneal Pharmaceuticals Inc., Alembic Pharmaceuticals Inc., Kaken Pharmaceutical Co. Ltd., Mayne Pharma Group Limited, Wockhardt Ltd., Sato Pharmaceutical Co. Ltd., Anacor Pharmaceuticals Inc., Jubilant Cadista Pharmaceuticals Inc., Moberg Pharma AB, Medimetriks Pharmaceuticals Inc., Blueberry Therapeutics Ltd., Hallux Inc., NovaBiotics Ltd., Zydus Cadila Healthcare Limited.
North America was the largest region in the onychomycosis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the onychomycosis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the onychomycosis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of onychomycoses include distal subungual onychomycosis (DSO), white superficial onychomycosis (WSO), proximal subungual onychomycosis (PSO), candida onychomycosis, and others. Distal subungual onychomycosis (DSO) specifically targets the nails of the feet, and treatment options vary, encompassing oral antifungal drugs, topical antifungal treatments, or a combination of both. The therapeutic approaches involve drug treatment, topical therapy, and other interventions, with distribution channels including hospital pharmacies, retail pharmacies, and other relevant outlets.
The onychomycosis research report is one of a series of new reports that provides onychomycosis market statistics, including the onychomycosis industry's global market size, regional shares, competitors with onychomycosis market share, detailed onychomycosis market segments, market trends and opportunities, and any further data you may need to thrive in the onychomycosis industry. This onychomycosis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The onychomycosis market includes revenues earned by services such as combination therapy, oral antifungal medications, itraconazole, ketoconazole, griseofulvin, and terbinafine. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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.
This product will be delivered within 3-5 business days.
The onychomycosis market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be attributed to various factors, including the adoption of combination drug therapies, a rise in healthcare expenditure, increased awareness campaigns for onychomycosis, the expansion of telemedicine services, and advancements in topical drug formulations. Notable trends during this period encompass the integration of digital technologies in onychomycosis diagnosis and management, an increase in over-the-counter (OTC) antifungal products, the development of patient-friendly treatment regimens, a focus on personalized medicine in onychomycosis treatment, and collaborations between pharmaceutical companies for research and development.
The anticipated growth in the onychomycosis market is expected to be propelled by the increasing population of individuals with diabetes. Diabetes, characterized by inadequate insulin synthesis or ineffective insulin utilization, is a chronic disease that commonly leads to onychomycosis, posing a prevalent foot problem. Effectively managing onychomycosis is crucial for individuals with diabetes to prevent complications. Notably, the International Diabetes Federation reported in December 2021 that diabetes affected 537 million people globally (aged 20–79) in 2021, with projections estimating an increase to 643 million by 2030 and a total of 783 million by 2045. This surge in diabetes cases is a key driver for the growth of the onychomycosis market.
The globalization of pharmaceutical companies is poised to contribute to the expansion of the onychomycosis market. This trend involves pharmaceutical companies extending their operations beyond domestic or local markets to operate on a global scale. Global pharmaceutical companies play a vital role in conducting awareness campaigns and educational initiatives on various health conditions, including onychomycosis. Such initiatives contribute to increased awareness among healthcare professionals and the general public regarding the condition's prevalence and available treatment options. As an example, data from Germany Trade and Invest, a Germany-based office for foreign trade, reveals that Germany, being the fourth-largest pharmaceutical market globally and the largest in Europe, experienced a 5.4% increase in pharmaceutical sales to reach EUR 56.5 billion in 2022. The growth in biologics was particularly notable, reaching 10.5% between 2021 and 2022, generating EUR 17.8 billion in revenue in 2022 and constituting one-third of the country's entire pharmaceutical business. The globalization of pharmaceutical companies is thus playing a significant role in driving the growth of the onychomycosis market.
Product innovation stands out as a prominent trend gaining traction in the onychomycosis market, with major companies actively pursuing the development of innovative products to maintain their market positions. For instance, in December 2021, Bausch Health Companies Inc., a Canada-based pharmaceutical company, introduced Julia (aliconazole) topical solution for onychomycosis treatment. Notably, Julia received approval from the American Podiatric Medical Association (APMA), underscoring its recognition for supporting foot health when used consistently in a daily foot care regimen and professional treatment program.
Major companies in the onychomycosis market are focusing on the development of innovative formulations to address specific challenges associated with the condition and enhance treatment outcomes. Lupin Limited, an India-based pharmaceutical company, exemplifies this trend with the launch of Tavaborole Topical Solution in July 2021. This oxaborole antifungal solution is designed for the topical treatment of onychomycosis of the toenails caused by Trichophyton rubrum or Trichophyton mentagrophytes, serving as the generic equivalent of Anacor Pharmaceuticals Inc.'s Kerydin Topical Solution 5%, with an estimated annual sale of USD 53 million in the U.S.
In December 2021, Kaken Pharmaceutical Co. Ltd., a US-based pharmaceutical company, acquired Artha Therapeutics Inc. This undisclosed-sum acquisition allows Kaken to enhance its research and development capabilities by leveraging Artha's technologies and expertise in drug repositioning. Artha Therapeutics Inc., a Japan-based biopharmaceutical company, specializes in providing topical onychomycosis treatment in Japan. This acquisition reflects a strategic move to leverage synergies and further develop onychomycosis treatment options.
Major companies operating in the onychomycosis market report are Pfizer Inc., Johnson & Johnson Services Inc., Merck & Co. Inc., Bayer AG, Novartis AG, GlaxoSmithKline PLC, Eli Lilly and Company, Sandoz International GmbH, Bausch Health Companies Inc., Perrigo Company PLC, Galderma Laboratories LP, Aurobindo Pharma Limited, Cipla Inc., Dr. Reddy's Laboratories Ltd., Apotex Inc., Lupin Limited, Amneal Pharmaceuticals Inc., Alembic Pharmaceuticals Inc., Kaken Pharmaceutical Co. Ltd., Mayne Pharma Group Limited, Wockhardt Ltd., Sato Pharmaceutical Co. Ltd., Anacor Pharmaceuticals Inc., Jubilant Cadista Pharmaceuticals Inc., Moberg Pharma AB, Medimetriks Pharmaceuticals Inc., Blueberry Therapeutics Ltd., Hallux Inc., NovaBiotics Ltd., Zydus Cadila Healthcare Limited.
North America was the largest region in the onychomycosis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the onychomycosis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the onychomycosis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of onychomycoses include distal subungual onychomycosis (DSO), white superficial onychomycosis (WSO), proximal subungual onychomycosis (PSO), candida onychomycosis, and others. Distal subungual onychomycosis (DSO) specifically targets the nails of the feet, and treatment options vary, encompassing oral antifungal drugs, topical antifungal treatments, or a combination of both. The therapeutic approaches involve drug treatment, topical therapy, and other interventions, with distribution channels including hospital pharmacies, retail pharmacies, and other relevant outlets.
The onychomycosis research report is one of a series of new reports that provides onychomycosis market statistics, including the onychomycosis industry's global market size, regional shares, competitors with onychomycosis market share, detailed onychomycosis market segments, market trends and opportunities, and any further data you may need to thrive in the onychomycosis industry. This onychomycosis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The onychomycosis market includes revenues earned by services such as combination therapy, oral antifungal medications, itraconazole, ketoconazole, griseofulvin, and terbinafine. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Onychomycosis Market Characteristics3. Onychomycosis Market Trends and Strategies32. Global Onychomycosis Market Competitive Benchmarking33. Global Onychomycosis Market Competitive Dashboard34. Key Mergers and Acquisitions in the Onychomycosis Market
4. Onychomycosis Market - Macro Economic Scenario
5. Global Onychomycosis Market Size and Growth
6. Onychomycosis Market Segmentation
7. Onychomycosis Market Regional and Country Analysis
8. Asia-Pacific Onychomycosis Market
9. China Onychomycosis Market
10. India Onychomycosis Market
11. Japan Onychomycosis Market
12. Australia Onychomycosis Market
13. Indonesia Onychomycosis Market
14. South Korea Onychomycosis Market
15. Western Europe Onychomycosis Market
16. UK Onychomycosis Market
17. Germany Onychomycosis Market
18. France Onychomycosis Market
19. Italy Onychomycosis Market
20. Spain Onychomycosis Market
21. Eastern Europe Onychomycosis Market
22. Russia Onychomycosis Market
23. North America Onychomycosis Market
24. USA Onychomycosis Market
25. Canada Onychomycosis Market
26. South America Onychomycosis Market
27. Brazil Onychomycosis Market
28. Middle East Onychomycosis Market
29. Africa Onychomycosis Market
30. Onychomycosis Market Competitive Landscape and Company Profiles
31. Onychomycosis Market Other Major and Innovative Companies
35. Onychomycosis Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Onychomycosis Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on onychomycosis market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for onychomycosis? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Distal Subungual Onychomycosis (DSO); White Superficial Onychomycosis (WSO); Proximal Subungual Onychomycosis (PSO); Candida Onychomycosis; Other Types
2) By Treatment: Drug Treatment; Topical Therapy; Other Treatments
3) By Distribution Channel: Hospitals Pharmacies; Retail Pharmacies; Other Distribution Channels
Key Companies Mentioned: Pfizer Inc.; Johnson & Johnson Services Inc.; Merck & Co. Inc.; Bayer AG; Novartis AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Pfizer Inc.
- Johnson & Johnson Services Inc.
- Merck & Co. Inc.
- Bayer AG
- Novartis AG
- GlaxoSmithKline PLC
- Eli Lilly and Company
- Sandoz International GmbH
- Bausch Health Companies Inc.
- Perrigo Company plc
- Galderma Laboratories LP
- Aurobindo Pharma Limited
- Cipla Inc.
- Dr. Reddy's Laboratories Ltd.
- Apotex Inc
- Lupin Limited
- Amneal Pharmaceuticals Inc.
- Alembic Pharmaceuticals Inc.
- Kaken Pharmaceutical Co. Ltd.
- Mayne Pharma Group Limited
- Wockhardt Ltd.
- Sato Pharmaceutical Co. Ltd.
- Anacor Pharmaceuticals Inc.
- Jubilant Cadista Pharmaceuticals Inc.
- Moberg Pharma AB
- Medimetriks Pharmaceuticals Inc.
- Blueberry Therapeutics Ltd.
- Hallux Inc.
- NovaBiotics Ltd.
- Zydus Cadila Healthcare Limited.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 3.61 Billion |
| Forecasted Market Value ( USD | $ 4.45 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
