The Global Dermatophytic Onychomycosis Treatment Market, by Therapy Type (Systemic Therapy, Topical Therapy, and Device-based Therapy), by End User (Hospitals, Dermatology Clinics, Retail Pharmacies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2,596.8 Mn in 2017, and is projected to exhibit a CAGR of 12.6% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Dermatophytic onychomycosis is one of the most prevalent skin fungal diseases with overall share of over 50% globally, according to the estimates provided by a study published in the Journal of Cutaneous Medicine and Surgery in 2017. It is caused by the fungal strain Trichophyton rubrum and Trichophyton mentagrophytes. Failing to treat the disease may worsen the condition resulting in loss of nails or spreading of infection to other parts of the body such as hair and skin. In 2017 study by the Indian Journal of Dermatology, it was mentioned that superficial fungal infections account for around 25% of the global skin mycoses, making dermatophytic onychomycosis the most prevalent disease.
Increasing geriatric population is one of the major factors driving growth of the global dermatophytic onychomycosis treatment market. According to the British Association of Dermatologists’ guidelines for the management of onychomycosis 2014, there is a higher prevalence of onychomycosis in elderly people, with almost 20% of them aged above 60 years and 50% of them aged over 70 years reported to be affected by dermatophytic onychomycosis. This is due to inherent changes in the nail unit, which occurs with age due to impaired blood circulation, reduced immunity, diabetes, altered biomechanics, and recurrent trauma.
Other specific conditions such as HIV, reduced immunity, and diabetes are significant risk factors for the development of dermatophytic onychomycosis. Therefore, increasing number of patients affected with this disease will drive growth of the global dermatophytic onychomycosis treatment market.
New product launches, collaborations, and acquisitions by key players are expected to drive the dermatophytic onychomycosis treatment market growth
Key players are launching innovative products in the global dermatophytic onychomycosis treatment market, in order to expand their market footprint, addressing the limitations of current therapeutics to treat dermatophytic onychomycosis. In 2014, Valeant Pharmaceuticals was granted with Food and Drug Administration (FDA) approval for its topical product for dermatophytic onychomycosis named Efinaconazole. In the same year, Anacor Pharmaceuticals was granted with New Drug Application (NDA) for Tavaborole, which is also a topical antifungal medication. Product pipeline for dermatophytic onychomycosis is strong with various companies targeting topical and systemic drug candidates. For instance, TDT-067 and luliconazole by Celtic Pharmaceuticals, Inc. are in phase 3 clinical trials.
New and evolving approaches to treat dermatophytic onychomycosis are device-based laser and photodynamic therapy. Different companies have targeted this approach to provide effective cure for dermatophytic onychomycosis. In 2016, the FDA approved Erchonia’s Lunula laser device, which provides low-level laser therapy to treat nail fungus/dermatophytic onychomycosis. In 2015, Genesis Plus, which is a 1064 nm Nd: YAG laser device by Cutera Inc., received FDA approval for temporary aesthetic improvement in onychomycosis by increasing the percentage of clear nail.
Market players are adopting strategies such as mergers and acquisitions, thereby leveraging each other’s strengths to offer innovative products. Valeant Pharmaceuticals, Inc., which acquired Bausch and Lomb in 2013, rebranded itself as Bausch Health Companies in July 2018. This would strengthen market position of the company due to higher brand equity of Bausch.
Browse 19 Market Data Tables and 23 Figures spread through 140 Pages and in-depth TOC on “Dermatophytic Onychomycosis Treatment Market”- by Therapy Type (Systemic Therapy, Topical Therapy, and Device-based Therapy), by End User (Hospitals, Dermatology Clinics, Retail Pharmacies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa). To know the latest trends and insights prevalent in the Dermatophytic Onychomycosis Treatment Market, click the link below:
Key Takeaways of the Dermatophytic Onychomycosis Treatment Market:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Email: [email protected]
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.