Dermatophytic Onychomycosis is a dermatophytic invasion of the nail plate. The condition primarily occurs in adults, most commonly those over 60 years of age. Occlusive footwear, exposure to damp places such as locker rooms and dissemination of various strains of fungus may lead to Dermatophytic Onychomycosis. The global dermatophytic onychomycosis treatment market is estimated to account for US$ 7,851.4 Mn in terms of value by the end of 2027.
Global Dermatophytic Onychomycosis Treatment Market: Drivers
Increasing R&D of new therapies for the treatment of Dermatophytic Onychomycosis is expected to boost growth of the global dermatophytic onychomycosis treatment market over the forecast period. For instance, Dong-A ST Co., Ltd. is assessing the antifungal efficacy and safety of Jublia topical solution for the treatment of mild or moderate onychomycosis due to dermatophyte. The study is expected to be competed in December 31, 2019.
Global Dermatophytic Onychomycosis Treatment Market: Opportunities
Laser therapy has proved to be a novel alternative treatment for toenail onychomycosis. It offers minimal to no risk of side effects. Laser therapy is applied to toenail onychomycosis by shining a laser light through the toenail into the tissue below. The laser light vaporizes the fungus and does not harm the skin and surrounding healthy tissue. Therefore, key players in the market can focus on developing laser therapy for the treatment of dermatophytic onychomycosis.
Global Dermatophytic Onychomycosis Treatment Market: Restraints
Medication-driven treatments for toenail fungus may lead to liver toxicity, which is expected to hinder growth of the global dermatophytic onychomycosis Treatment market.
The topical treatment segment in the global dermatophytic onychomycosis treatment market was valued at US$ 2,713.0 Mn in 2018 and is expected to reach US$ 6,086.0 Mn by 2027 at a CAGR of 9.5% during the forecast period. The growth of the segment is attributed to increasing incidence of toenail onychomycosis and increasing research and development of topical medications. The independent pharmacies segment held dominant position in the global dermatophytic onychomycosis treatment market in 2018, accounting for 50% share in terms of volume, followed by hospitals and clinics, respectively. Increasing number of independent pharmacies in developed and developing economies is anticipated to assist the segment growth during the forecast period.
Use of extracts from medicinal plants for the treatment of dermatophytic onychomycosis is a recent trend in the market. For instance, in October 2019, researchers from BabeÈ™-Bolyai University Romania reported the antifungal and antioxidant activities of Alium sativum extract against Meyerozyma guilliermondii Kurtzman and M. Suzuki and Rhodotorula mucilaginosa F.C. Harrison, isolated for the first time from a toenail onychomycosis case. The market is also witnessing the use of a pulse therapy regimen using terbinafine 500 mg for the treatment of dermatophytic onychomycosis.
Global Dermatophytic Onychomycosis Treatment Market: Competitive Landscape
Major players operating in the global dermatophytic onychomycosis treatment market include, Valeant Pharmaceuticals International Inc., Galderma S.A., Novartis AG, Pfizer Inc., Moberg Pharma AB, Janssen Global Services, LLC (Johnson & Johnson Services, Inc.), Anacor Pharmaceuticals, Inc., NovaQuest Capital Management, L.L.C., and Novan, Inc.
Global Dermatophytic Onychomycosis Treatment Market: Key Developments
Key players in the market are focused on adopting partnership and collaboration strategies to expand their product portfolio. For instance, in June 2019, Mycovia Pharmaceuticals, Inc. partnered with Jiangsu Hengrui Medicine Co., Ltd. for the development and commercialization of Mycovia’s investigational drug, VT-1161 (otesaconazole), in China, for the treatment or prevention of several fungal infections such as onychomycosis. Key players in the market are focused on raising funds to expand their product portfolio. For instance, in April 2019, Novan, Inc. secured around US$ 35 million in non-dilutive capital to advance its late-stage dermatology assets.
“*” marked represents similar segmentation in other categories in the respective section.