Onychomycosis Treatment Market

2021 Analysis and Review: Onychomycosis Treatment Market by Treatment Type – Drugs, Laser, and Photodynamic Therapy for 2021 -2031

About the Report

Onychomycosis can have significant negative effect on patient’s emotional, social, and occupational functioning. Onychomycosis may lead to social exclusion and stigmatization.  Although socioeconomic concerns and health issues for other diseases are prioritized, the introduction of improved systemic treatment regimens in the last two decades is helping increase the number of people receiving the treatment for this disease.

Increase in diagnosis of nail infection has led to an increase in awareness about the condition. This has in turn fuelled the demand for effective medications. Driven by the above factors and increasing patient pool, the demand for onychomycosis treatment is expected to rise in the coming years.

In the latest edition of the onychomycosis treatment market report, ESOMAR-certified market research and consulting firm Future Market Insights offers insights about key factors fuelling the demand. The report tracks global sales of onychomycosis treatment in 20+ high-growth markets, where the maximum demand is witnessed in North America, followed by Europe.

The edition is intended to offer up-to-date information on the key developments registered in the market amid COVID-19. The study also has expands on the previous competitive landscape section, and readers will get to know the key strategies of established players as well as new entrants.

How Does the Historical and Future Outlook for Onychomycosis Treatment Market Compare?

Onychomycosis diseases continues to be a major health concern, which has resulted in significant changes and developments in the onychomycosis treatment. As a result of the rising prevalence of onychomycosis, the elevated demand for nail lacquers is noticed.  

The condition can be a side effect of medications administered. Nail lacquers, have remained a preferred treatment for the condition. They are convenient to use and stay on nail for a long time.  These changes and development in the onychomycosis treatment market have led to considerable growth of the market.

Factors such as development of new drugs in the pipeline have been enabling growth in the market.

  • For Instance, Novexatin is a pipeline product of NovaBiotics Ltd., a clinical stage biotech company situated in Aberdeen, which develops peptide anti-infective technology. Novexatin is a topical nail fungus treatment for onychomycosis. KX2-391, is another promising recent phase III addition that is being developed by Almirall, S.A for the treatment of onychomycosis

Current suboptimal product differentiation and diversification represents opportunity for onychomycosis market growth.

The COVID-19 outbreak has transformed the national healthcare priorities and spending but it is considered to have short-term impact on the onychomycosis treatment market. The huge COVID-19 patient pool in Western European countries that led to increased focus on the treatment of these patients on priority bases reduced the patient visits to the hospitals for diagnosis and treatment of onychomycosis.

Reduced visits indicate lesser treatment adoption, which has been affecting the market negatively. In addition to this, reduced visits to the healthcare facilities to avoid cross contamination is another factor that reducing sales.  Moreover, onychomycosis generally is not given much importance as compared to other chronic diseases. Due to reduced severity of the disease, the market has experienced even lesser sales during the pandemic.

According to FMI, onychomycosis treatment market expanded at a CAGR of 5% between 2016 and 2020. There is a rapid development in the drug delivery for the treatment of onychomycosis diseases. In order to encounter the ever growing number of patients, there is a notable shift towards combination treatment.

Spurred by these factors, the market is expected to progress at a 7% CAGR through 2031.

How will Increase in Prescription of Combination Drugs Impact Onychomycosis Treatment Market?

Although topical therapy has proven to be quiet effective in the last few years, certain factors such as prolonged treatment period and the inability to reach to the nail bed are factors that are leading to growing demand for combination therapies. Combination therapy usually involves combining the oral and topical antifungal treatments to achieve results faster and avoid the re-occurrence of the disease.

How will the Availability of Strong Pipeline Products Impact the Onychomycosis Treatment Market?

Availability of several promising drug pipeline that have disease-modifying properties and a better safety and efficacy profile will ultimately attract more number of players towards the market, thereby driving its growth r. Onychomycosis treatment market comprises of a strong pipeline which predicts lucrative growth prospects are on cards.

  • For instance, Moberg Pharma has developed MOB-015, which is a topical formulation. The product met the primary endpoint in the European phase 3 study in June 2020.

Country-wise Insights

How Big is the Opportunity in the U.S.?

FMI has projected North America to emerge as the most lucrative markets for onychomycosis treatment. It is forecast to exhibit a CAGR of over 7% during the forecast period. Key factor that is making the U.S. most lucrative market for onychomycosis treatment is the increase in prevalence of risk factors such as diabetes that may result in onychomycosis.

According to the Diabates.org, nearly 34.2 million Americans had undiagnosed diabetes in 2018. Besides this, social determination and growing elderly population is leading to increasing demand for onychomycosis treatment in the country. In addition, increasing focus on physical appearance and the presence of some of the leading key players are contributing towards the dominance of the U.S.

Why is Germany Considered Lucrative Market for Onychomycosis Treatment?  

Globally, the per capita spending on healthcare is rapidly increasing. People’s desire and ability to spend on wellness have led to a prominent shift in healthcare expenditure. Germany is among the top countries that spend a significant amount on healthcare.

The country also constantly focuses on improving its healthcare infrastructure. These factors are enabling growth in the Germany market. FMI has forecast it to remain the dominant market within Europe through the course of the forecast period.

How is Pharmaceutical Sector Enabling Growth in France? 

According to the Organization for Economic Cooperation and Development (OECD), the overall per capita health expenditure of France was approximately US$ 4,360 in 2020. High income countries in Europe, such as France are amongst the ones that spent most on health in 2019. The rising focus on healthcare is the prime factor that makes France one of the leading countries in terms of revenue contributed towards the Europe onychomycosis treatment market.

Rising Onychomycosis Cases to Increase Demand for Onychomycosis Treatment in China

The demand from developing countries such as China is expected to rise considerably over the course of the forecast period. East Asia is expected to experience maximum growth with China being the leading contributor.

With the ongoing development in countries such as China, ambient unhygienic conditions might result in rising cases of onychomycosis cases. According to a research study, onychomycosis is widespread across the country with 2% of the country’s adult population suffering from the disease.

What is Supporting Elevated Demand for Onychomycosis Treatment in Japan?

Adults are more concerned about their aesthetic appearance. Along with it new developments in combination drug therapy in Japan has been aiding the overall growth. Thus, it can be observed that Japan is expected to undergo substantial amount of growth with a CAGR of up to 6% during the forecast period.

Category-wise Insights

Why are Drug Considered Preferred Onychomycosis Treatment?

The drug segment will continue to hold maximum share in the global onychomycosis treatment market, accounting for nearly 75% of sales registered in the market. Convenience of this treatment type, coupled with rising focus on research and development, is expected to continue fuelling the demand for onychomycosis drugs.

Which is the Leading Onychomycosis Treatment Indication?

Distal subungual onychomycosis account for 78% of the market share by indication. According to the World Health Organization (WHO), distal subungual onychomycosis has the commonest clinical pattern found in 69% of patients followed by total dystrophic onychomycosis (TDO) found in 17% cases.

This reflects that the highest demand for treatment is observed for this indication. This trend is expected to continue during the forecast period as well.

However, the introduction of combination drug formulation for the treatment of proximal subungual onychomycosis indication is expected to result in reduced sales of distal subungual onychomycosis induced onychomycosis treatment.

Which Gender and Age Group Exhibit Higher Demand for Onychomycosis Treatment?

According to FMI, the demand for onychomycosis treatment will by the highest among makes. Based on age group, people aged between 18 years and 39 years is expected to exhibit high demand for the treatment.

Which is the Preferred Distribution Channel?

While both sales via institutional channels and retail sector will continue holding significant share in the market, the latter is expected to remain dominant through the forecast period. The rising demand registered by retail pharmacies, drug stores, and other channels will seal retail sales’ dominance in the market.

Competitive Landscape

Manufacturers in the onychomycosis treatment market are aiming to carry out strategic collaborations such as acquisitions and mergers to gain competitive edge in the market.

For instance, in 2016, Pfizer acquired Anacor Pharmaceuticals, a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics.

The company is strategically making promotional plans for its established prescription brands to increase their awareness within the prescription market. Its ‘Get Old’ campaign also makes a frequent appearance on the main company feeds and through its own Twitter and Facebook page.

Pfizer Inc. may be known for blockbuster prescription drug products such as Viagra and Lipitor, but the company is engaged in effective promotions to increase its brand recall among established prescription brands.

Some of the leading companies operating in the market are:

  • Teva Pharmaceutical Industries Ltd.
  • Sanofi S.A.
  • Valent Pharmaceutical
  • Galderma
  • Johnson & Johnson
  • Novartis AG
  • Moberg Pharma AB
  • Cardinal Health, Inc.
  • Pfizer Inc.
  • Almirall, S.A.
  • Bayer AG
  • Viatris Inc.
  • GlaxoSmithKline plc
  • Cipla Ltd.
  • Dr. Reddy’s Laboratories Ltd

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa and South Africa

Key Segments Covered

By Treatment Type, By Indication, By Age group, By Gender, By Distribution Channel and By Region

Key Companies Profiled

  • Teva Pharmaceutical Industries Ltd.
  • Sanofi S.A.
  • Medimetriks Pharmaceuticals, Inc.
  • Galderma
  • Johnson & Johnson
  • Novartis AG
  • Moberg Pharma AB
  • Cardinal Health, Inc.
  • Pfizer Inc.
  • Almirall, S.A.
  • Bayer AG
  • Viatris Inc.
  • GlaxoSmithKline plc
  • Cipla Ltd.
  • Dr. Reddy’s Laboratories Ltd

Report Coverage

Market Forecast, brand share analysis, competition Intelligence, DROT Analysis, Market Dynamics and Challenges and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

  • Which is the most lucrative market for onychomycosis treatment?

    North America currently holds for the largest share in the onychomycosis treatment market. Increasing awareness regarding aesthetic appearance, expanding healthcare infrastructure and availability of advanced onychomycosis treatment is propelling growth in the region. Within North America, the U.S. is expected to emerge as a highly lucrative market.

  • Which is the top-selling onychomycosis treatment?

    Drug segment in the onychomycosis treatment market will continue to remain the most profitable one through the forecast period.

  • Which age group will continue exhibiting high demand for onychomycosis treatment?

    18-39 years age group will continue remain dominant, exhibiting considerably high demand for onychomycosis treatment. This segment contributes for more than half of the market share as the adult age group is more concerned about their aesthetic appearance.

  • Which are some of the leading companies operating in the onychomycosis treatment market?

    Some of the leading companies operating in the onychomycosis treatment market  are Teva Pharmaceutical Industries Ltd., Sanofi S.A., Novartis AG, Moberg Pharma AB, Cardinal Health, Inc. , Pfizer Inc., Almirall, S.A., Bayer AG, Viatris Inc. , GlaxoSmithKline plc, Valent Pharmaceutical, Galderma, Johnson & Johnson, Cipla, Dr. Reddy’s Laboratories Ltd. and Medimetriks pharmaceurticals inc.

  • Which indication is driving the sales of onychomycosis treatment?

    Distal subungual onychomycosis is the leading indication that is driving sales of onychomycosis treatment.

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Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst

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Onychomycosis Treatment Market by Category

Treatment Type

  • Drugs
    • Oral
      • Rx
      • OTC
    • Topical
      • Rx
      • OTC
  • Lasers
    • C02 Ablative Lasers
    • Nd:YAG Lasers
    • Dual-wavelength near-infrared Lasers
  • Photodynamic Therapy

Disease Indication

  • Distal Subungual Onychomycosis
  • White Superficial Onychomycosis
  • Proximal Subungual Onychomycosis
  • Candidal Onychomycosis
  • Total Dystrophic Onychomycosis

Age Group

  • 0-18 Years
  • 18-39 Years
  • 40-64 Years
  • 65 Years & Above

Gender

  • Male
  • Female

Distribution Channel

  • Institutional Sales
    • Hospitals
    • Dermatology Clinics
  • Retail Sales
    • Retail Pharmacies
    • Drug Stores
    • Mail Order Pharmacies & Online Sales

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

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