Onychomycosis Treatment Market Size, Share, Trends, Growth and Forecast 2030

Onychomycosis Treatment Industry Prospective:

The global onychomycosis treatment market size was evaluated at $4.7 billion in 2022 and is slated to hit $10.7 billion by the end of 2030 with a CAGR of nearly 8.5% between 2023 and 2030.

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Onychomycosis Treatment Market: Overview

Onychomycosis, also known as tinea unguium, is a toenail or fingernail fungal disease that causes infection of the ring over the nails. Moreover, trichophyton rubrum and trichophyton mentagrophytes are common fungal strains that cause dermatophytic onychomycosis. In addition, other organisms that transmit the disease are yeasts and non-dermatophyte molds. The major source of onychomycosis is public places such as gymnasiums, swimming pools, and others polluted with disease-causing fungal agents. In addition, fungal infection is caused by the continuous use of footwear for a longer duration and the touch of toenails on wet surfaces. Increasing disease incidences are apparent in athletes due to constant shoe use, nail sweating, and traumatic nail injuries.

Key Insights

• As per the analysis shared by our research analyst, the global onychomycosis treatment market is projected to expand annually at the annual growth rate of around 8.5% over the forecast timespan (2023-2030)
• In terms of revenue, the global onychomycosis treatment market size was evaluated at nearly $4.7 billion in 2022 and is expected to reach $10.7 billion by 2030.
• The global onychomycosis treatment market is anticipated to grow rapidly over the forecast timeline owing to a prominent increase in the cases of HIV, peripheral artery disease, and diabetes.
• In terms of type, the proximal subungual onychomycosis segment is slated to register the highest CAGR over the analysis period.
• Based on distribution channel, the hospital pharmacies segment is expected to dominate the segmental growth over the assessment timeline.
• Region-wise, the European onychomycosis treatment industry is projected to register the fastest CAGR during the assessment timeline.

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Onychomycosis Treatment Market: Growth Factors

Surge in the disease conditions can prop up the global market demand over 2023-2030

The rise in the occurrence of onychomycosis along with a need for effectively treating it will steer the expansion of the global onychomycosis treatment market. A prominent increase in the cases of HIV, peripheral artery disease, and diabetes will steer the growth of the market across the globe. Surging aging populace prone to chronic diseases will fuel the expansion of the market globally. Huge demand for precision onychomycosis therapy as well as laser therapy for treating the disease will scale up the market landscape globally. Furthermore, chronic conditions prevalent among the millennial population base and adults due to their exposure to public swimming pools and wearing of tight clothes & socks can uplift the growth of the global market. Additionally, a rise in the approvals of new products will favorably impact the expansion of the global market. In 2022, Zydus Lifesciences Limited, a key pharmaceutical firm based in India, received a green signal from the U.S. FDA for promoting its antifungal efinaconazole topical solutions.

Onychomycosis Treatment Market: Restraints

Lack of knowhow about onychomycosis treatment among individuals can create inhibitions on the global industry expansion by 2030

Low awareness about treating onychomycosis along with patients ignoring the symptoms can impede the growth of the global onychomycosis treatment industry. Additionally, side effects caused due to medicines used for treating onychomycosis can impede the expansion of the global industry size.

Onychomycosis Treatment Market: Opportunities

An increment in the investments for treating onychomycosis to embellish the expansion of the global market over 2023-2030

An increase in the fund allocation by pharmaceutical firms for research activities related to early diagnosis and treatment of onychomycosis will open new growth opportunities for the global onychomycosis market. A large number of market players are allocating significant funds for developing new drugs for effectively treating the disease in its initial phase, thereby boosting the global market demand. Focus on developing antifungal therapies will steer the growth of the market across the globe.

Onychomycosis Treatment Market: Challenges

Stringent government legislation over the use of prescribed drugs for treating onychomycosis can prove to be a big challenge for the global industry

Strict government laws concerning the use of antibiotics for treating onychomycosis can prove a challenge for the global onychomycosis treatment industry.

Onychomycosis Treatment Market: Segmentation

The global onychomycosis treatment market is sectored into type, treatment, distribution channel, and region.        

In type terms, the global onychomycosis treatment market is segregated into candida onychomycosis, proximal sublingual onychomycosis, white superficial onychomycosis, distal sublingual onychomycosis, and others segments. Furthermore, the proximal subungual onychomycosis segment, which amassed nearly half of the global market revenue share in 2022, is anticipated to register the fastest CAGR in the upcoming years. The growth of the segment during the estimated timeframe can be due to the humongous need for treating proximal subungual onychomycosis with the help of medicines.

Based on the distribution channel, the global onychomycosis treatment industry is sectored into retail pharmacies, hospital pharmacies, and others segments. Moreover, the hospital pharmacies segment, which garnered a major chunk of the global industry share in 2022, is predicted to lead the global industry over the upcoming years. The segmental expansion over the assessment timeline can be subject to the easy availability of drugs in hospitals. An increase in the number of dermatologists as well as podiatrists will steer the segmental surge.

Based on the treatment, the global onychomycosis treatment market is divided into topical therapy, drug treatment, and others segments.

Onychomycosis Treatment Market: Report Scope

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Onychomycosis Treatment Market: Regional Insights

North America is predicted to maintain its dominant position in the global onychomycosis treatment market over the prognosis period

North America, which contributed about 58% of the global onychomycosis treatment market revenue in 2022, will be a leading region over the analysis timespan. In addition to this, the regional market surge can be attributed to growing cases of onychomycosis and the availability of improved medical treatments for the disease in countries such as the U.S. The presence of giant firms in the U.S. will proliferate the regional market earnings in the years to come. A surge in the number of diabetics in countries such as the U.S. will pave the way for the growth of the market in the sub-continent in the near future.

The European onychomycosis treatment industry is set to register the fastest CAGR in the upcoming years owing to favorable government initiatives promoting personalized treatment for onychomycosis. For instance, the British Association of Dermatologists provides data on patients who have a fungal infection of nails. Such initiatives are likely to create new growth opportunities for the regional industry.

Onychomycosis Treatment Market: Competitive Space

The global onychomycosis treatment market profiles key players such as:

• Moberg Pharma AB
• Allergen Inc.
• Topica Pharmaceuticals Inc.
• Dr. Reddy’s Laboratories Ltd
• Bausch Health Companies
• NovaBiotics Inc.
• Cipla Ltd
• Galderma S.A.
• Celtic Pharma
• Medimetriks Pharmaceuticals Inc.
• Anacor Pharmaceuticals Inc.
• Johnson & Johnson
• Bayer AG
• Novartis AG
• Pfizer Inc.
• GlaxoSmithKline
• Sanofi S.A.
• Merz Pharma

The global onychomycosis treatment market is segmented as follows:

By Type

• Distal Sublingual Onychomycosis
• White Superficial Onychomycosis
• Proximal Sublingual Onychomycosis
•  Candida Onychomycosis
•  Others

By Treatment

• Drug Treatment
• Topical Therapy
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
•  Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa