The Top Five Players Hold Around 43.9% of the Global Onychomycosis Treatment Market
The onychomycosis treatment market is a moderately consolidated market, with the top five leading players holding around 43.9% market share. These players include Valeant Pharmaceuticals Inc., Galderma S.A., Novartis AG, Pfizer, Inc., and Moberg Pharma AB. All these manufacturers have strong sales channels throughout the globe.
Jublia, manufactured by Valeant Pharmaceuticals Inc., and Diflucan, manufactured by Pfizer, Inc., were the key brands generating major revenue in the onychomycosis treatment market in 2017. Revenue from Loceryl, by Galderma, and Lamisil, by Novartis, have shown 2x growth in the past three years. Valeant Pharmaceuticals Inc. has launched a Direct-to-Consumer (DTC) marketing campaign, which includes print, digital, and television to boost the sales of Jublia.
Increasing Elderly Population Around the Globe Has Fuelled the Growth of the Onychomycosis Treatment Market
According to WHO, age is the primary factor responsible for the development of onychomycosis, and the risk increases with age, particularly for persons aged >50 years. Approximately 80% to 85% of onychomycosis occurs in patients aged more than 50 years. Onychomycosis is reported to occur in 18.2% patients who are 60-79 years of age, compared to just 0.7% in patients younger than 19 years of age.
Onychomycosis is common among the aged, with prevalence rates being as much as 20% in those aged 60 years, and 30% in those over 70 years of age. Thus, the increasing geriatric population is a major factor that is expected to drive growth of the onychomycosis treatment market during the forecast period.
Awareness Programmes by Non-profit Organizations to Fuel Sales of Onychomycosis Treatment Products
Awareness programs are organized by non-profit organizations to spread awareness among people about onychomycosis treatment. For instance, the British Association of Dermatologist has circulated leaflets among patients that include complete guidance for onychomycosis treatment. Similar awareness programmes are expected to raise the awareness levels among patients in both, developed and developing economies, which will fuel the growth of the onychomycosis treatment market over the forecast period.
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Lack of Skilled Medical Professionals May Deter Growth of the Onychomycosis Treatment Market
Photodynamic therapy is the most advanced treatment option available for onychomycosis treatment. Skilled medical professionals are required to avoid any risk during the treatment period. But according to WHO, there will be a shortage of 12.9 million healthcare workers by 2035 across the globe.
The demand for plastic surgeons has surged in the last few decades, whereas, the supply of plastic surgeons has declined. This demand-supply gap of plastic surgeons required to for photodynamic therapy for onychomycosis treatment may deter the growth of the onychomycosis treatment market.
Collaborations and Partnerships Are Key Strategies Being Followed by Leading Manufacturers in the Onychomycosis Treatment Market
There is an increasing trend of partnerships being witnessed among leading players in the onychomycosis treatment market. Companies are entering into marketing and sales agreements for their promotion of their products. For instance, in 2014, Anacor Pharmaceuticals Inc. entered into an exclusive agreement with Novartis AG for the sales and marketing of their products in the U.S. market.
Also, in 2013, Moberg Pharma signed a distribution agreement with Leosons International LLC for the marketing of the Kerasal nail product in the Middle East and North Africa. This trend is being followed by a majority of manufacturers in the onychomycosis treatment market throughout the globe.
The competition section of the onychomycosis treatment market report features the profiles of key players operating in the industry based on their market shares, differential strategies, product offerings, and marketing approach. Some of the key players featured in this report include Valeant PharmaceuticalsInc., Galderma S.A., Novartis AG, Pfizer, Inc., Moberg Pharma AB, Johnson & Johnson Services, Inc., Bayer AG, Dr. Reddy’s Laboratories Ltd., Cipla Ltd., Medimetriks Pharmaceuticals, Inc., Lumenis Ltd., Biofrontera AG, and Leo Pharma A/S.Tier 1 players in the onychomycosis treatment market have a 37.3% market value share, and accounted for a market value of US$ 1.3 Bn in 2017.
Onychomycosis, also called tinea unguium, is a fungal infection of the nails. The symptoms of onychomycosis include white or yellow nail discoloration, thickening of the nails, and separation of the nails from the nail bed. Complications include cellulitis of the lower legs. Onychomycosis is caused by a number of fungi such as dermatophytes, Candida (yeast), and nondermatophytic molds.
About the Report
FMI conducted a research study on the onychomycosis treatment market for the forecast period 2018 to 2028. The report offers a comprehensive evaluation of the business opportunities prevailing in the onychomycosis treatment market, along with insights on the prevalence and treatment seeking rates in top countries, onychomycosis treatment options by region, and key regulatory and reimbursement scenarios. The report also elaborates on the macroeconomic factors influencing the dynamics of the onychomycosis treatment market and its futuristic potential.
Additional Questions Answered
Some of the additional questions addressed in this report on the onychomycosis treatment market-
- What is the revenue potential of photodynamic therapy across the regions of North America and Europe?
- Who are the key competitors in the onychomycosis treatment market, and what are their product portfolios and growth hacking strategies?
- What are major factors influencing the growth of the onychomycosis treatment market?
- Which are the trend followed by the leading manufacturer to retain their market share?
- What is the prevalence and treatment seeking rates for onychomycosis treatment in the top countries?
The onychomycosis treatment market has been estimated based on a supply-demand approach. Firstly, the prevalence and treatment seeking rates of onychomycosis are estimated for the top 20 countries to estimate the patient pool adopting onychomycosis treatment. After that, the costs of different onychomycosis treatment options are analyzed to estimate the market value for onychomycosis treatment.
This information is further validated with rigorous primary research (including interviews, surveys, in-person interactions, and viewpoints of seasoned analysts) and secondary research (including verified paid sources, authentic trade journals, and resourceful databases). The research study on the onychomycosis treatment market also includes the top trends and macro as well as micro economic factors shaping the market. With this approach, the report on the onychomycosis treatment market anticipates the industry attractiveness of every major segment over the forecast period.
Based on treatment market
- onychomycosis treatment
- photodynamic therapy
Based on Indications
- distal subungual onychomycosis
- white superficial onychomycosis
- proximal subungual onychomycosis
- candidal onychomycosis
- total dystrophic onychomycosisare
Based on end user
- institutional sales
- retail sales
Based on regions
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan
- Middle East & Africa