(MENAFN- PR Newswire) NEW YORK, Aug. 15, 2023 /PRNewswire/ -- The onychomycosis treatment market
size is set to grow by USD 1,776.53 million from 2022
to 2027. Also, the growth momentum will progress at a
CAGR of 7.44% during the forecast period, according to Technavio. The onychomycosis treatment market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Alembic Pharmaceuticals Ltd., Almirall SA, Astellas Pharma Inc., Bausch Health Co. Inc., Bayer AG, Cipla Ltd., Dr. Reddys Laboratories Ltd., Fotona d.o.o, Galderma SA, GlaxoSmithKline Plc, Kaken Pharmaceutical Co. Ltd., Lupin Ltd., Medimetriks Pharmaceuticals Inc., Moberg Pharma AB, Novartis AG, Perrigo Co. Plc, Pfizer Inc., Sanofi, Teva Pharmaceutical Industries Ltd., and The OTClab B.V. are some of the major market participants -
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![Technavio has announced its latest market research report titled Global Onychomycosis Treatment Market]( "Technavio has announced its latest market research report titled Global Onychomycosis Treatment Market")
Technavio has announced its latest market research report titled Global Onychomycosis Treatment Market
Onychomycosis Treatment Market 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The
onychomycosis treatment market
report covers the following areas:
onychomycosis treatment market
size onychomycosis treatment market trends onychomycosis treatment market
industry analysis porter's five forces analysis customer landscape
The onychomycosis treatment market is fragmented, and the degree of fragmentation
will accelerate. The increasing prevalence of onychomycosis will offer immense growth opportunities. However, the increase in multidrug-resistant fungal pathogens will hamper the market growth.
Onychomycosis Treatment Market 2023-2027: Drivers & Challenges
Increasing awareness of onychomycosis treatment
drives the growth of the
onychomycosis treatment market. People become aware of the condition and as a result, they are more likely to seek treatment for it, and this is driving up the demand for effective treatments. The increasing adoption of telemedicine and online consultations leads to growing awareness. Furthermore, platforms such as Dermatology Direct and Spruce Health, among others, allow patients to consult with healthcare providers remotely and receive diagnosis and treatment for onychomycosis without needing to visit a clinic physically. Hence, such factors boost the growth of the
onychomycosis treatment market during the forecast period.
The
growth
in multidrug-resistant fungal pathogens challenges the growth of the
onychomycosis treatment market. This is because
it limits the number of drug classes available as treatment options. Multidrug resistance is prominently seen among common Candida species. It is the most
common human pathogen, which
has a ubiquitous resistance mechanism for the initiation of membrane-associated efflux pumps that identify various chemicals, allowing multidrug resistance. Hence, such challenges hinder
the
onychomycosis treatment market during the forecast period.
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Onychomycosis Treatment Market 2023-2027: Segment Analysis
Type
Pharmacological Non-pharmacological
Distribution Channel Geography
North America Europe Asia Rest Of World (ROW)
Onychomycosis Treatment Market 2023-2027: Segmentation Highlights
The
pharmacological segment
will be significant during the forecast period. The growth can be attributed to the increasing demand for non-invasive and cost-effective treatment for onychomycosis. Furthermore, the continuous approval of drugs for the treatment of onychomycosis is also driving the growth of this segment. Also, continuous oral terbinafine therapy is the most effective against the dermatophytes that mainly cause onychomycosis. Hence, such factors drive the pharmacological segment of the
onychomycosis treatment market.
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others
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Onychomycosis Treatment Market 2023-2027: Key Highlights
CAGR of the market during the forecast period 2023-2027 Detailed information on factors that will assist onychomycosis treatment market
growth during the next five years Estimation of the onychomycosis treatment market
size and its contribution to the parent market Predictions on upcoming trends and changes in consumer behavior The growth of the onychomycosis treatment market
across North America, Europe, Asia, and Rest of World (ROW) Analysis of the market's competitive landscape and detailed information on vendors Comprehensive details of factors that will challenge the growth of onychomycosis treatment market vendors
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| Onychomycosis Treatment Market Scope |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 7.44% |
| Market growth 2023-2027 | USD 1,776.53 million |
| Market structure | Fragmented |
| YoY growth 2022-2023
(%) | 6.37 |
| Regional analysis | North America, Europe, Asia, and Rest of World (ROW) |
| Performing market contribution | North America at 41% |
| Key countries | US, Germany, UK, China, and Japan |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Alembic Pharmaceuticals Ltd., Almirall SA, Astellas Pharma Inc., Bausch Health Co. Inc., Bayer AG, Cipla Ltd., Dr Reddys Laboratories Ltd., Fotona d.o.o, Galderma SA, GlaxoSmithKline Plc, Kaken Pharmaceutical Co. Ltd., Lupin Ltd., Medimetriks Pharmaceuticals Inc., Moberg Pharma AB, Novartis AG, Perrigo Co. Plc, Pfizer Inc., Sanofi, Teva Pharmaceutical Industries Ltd., and The OTClab B.V. |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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