Onychomycosis Market Report 2025

The onychomycosis market size has grown strongly in recent years. It will grow from $3.63 billion in 2024 to $3.83 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to limited treatment options, an aging population, increased incidence of diabetes, expansion of the pharmaceutical industry, and growing awareness of fungal infections.

The onychomycosis market size is expected to see strong growth in the next few years. It will grow to $4.81 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to the adoption of combination drug therapies, increasing healthcare expenditure, growing awareness campaigns for onychomycosis, expansion of telemedicine services, and advances in topical drug formulations. Major trends in the forecast period include the integration of digital technologies in onychomycosis diagnosis and management, rise in over-the-counter (OTC) antifungal products, development of patient-friendly treatment regimens, emphasis on personalized medicine in onychomycosis treatment, collaboration between pharmaceutical companies for research and development.

The increasing prevalence of diabetes is anticipated to drive the growth of the onychomycosis market in the future. Diabetes is a chronic condition characterized by either inadequate insulin production by the pancreas or the body's inability to effectively use insulin. Individuals with diabetes are particularly susceptible to onychomycosis, a common foot issue, and managing complications associated with this infection is crucial for their health. Consequently, the rising incidence of diabetes is boosting demand in the onychomycosis market. For example, in June 2024, the National Health Service (NHS), a UK government agency, reported that in 2023, over half a million (549,000) more individuals in England were identified as at risk of developing type 2 diabetes. This increased the total number of people with non-diabetic hyperglycemia, or pre-diabetes, registered with a general practitioner to 3,615,330, reflecting a significant rise from 3,065,825 in 2022, or nearly 20%. Therefore, the growing incidence of diabetes is fueling the expansion 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 is a significant trend gaining traction in the onychomycosis market. Leading companies in this sector are developing novel products to maintain their competitive edge. For example, in January 2024, Vanda Pharmaceuticals Inc., a US-based biopharmaceutical firm, announced that the Food and Drug Administration (FDA) approved VTR-297 for the treatment of onychomycosis. VTR-297 is a small molecule histone deacetylase (HDAC) inhibitor that demonstrates antifungal activity specifically against dermatophytes and other fungi. This mechanism is essential for effectively targeting the pathogens responsible for onychomycosis. The drug is intended for topical application, enabling direct application to the affected nails. This localized delivery system reduces systemic exposure and minimizes potential side effects linked to oral antifungal treatments.

Key players in the onychomycosis market are also developing innovative formulations to strengthen their market position. These formulations enhance treatment outcomes and address specific challenges related to the condition. For instance, in February 2024, Moberg Pharma AB, a Sweden-based pharmaceutical company, launched MOB-015, a proprietary topical formulation of terbinafine aimed at delivering effective concentrations directly to the nail and nail bed while reducing the risk of systemic exposure linked to oral terbinafine. The product has received recommendations for national approval in 13 European countries and is marketed in Sweden under the brand name Terclara. The approval is supported by two Phase 3 trials demonstrating that MOB-015 achieved superior mycological cure rates (76% compared to up to 42% for comparators) and a significantly higher complete cure rate, with no serious adverse reactions reported.

In July 2023, Cipher Pharmaceuticals Inc., a Canadian pharmaceutical company, formed a partnership with Moberg Pharma to commercialize MOB-015, a topical nail fungus treatment known for its superior clinical cure rates. Moberg Pharma secured EU approval and intends to launch the product across 13 European countries. Moberg Pharma AB is a Sweden-based pharmaceutical firm that specializes in treatments for onychomycosis.

Major companies operating in the onychomycosis market include Pfizer Inc., Johnson & Johnson Services Inc., Merck & Co. Inc., Bayer AG, Novartis AG, 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., 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 2024. 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.

Onychomycosis is a fungal infection that affects the nail matrix, bed, or plate, impacting both toenails and fingernails. This condition can result in discoloration, thickening, and crumbling of the nails. The primary goal of treatment is to eliminate the infection, restore the health and appearance of the nails, and prevent the fungus from spreading to other nails or the surrounding skin.

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.

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