Global Onychomycosis Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to -2025
Summary -
A new market
study, titled “Global Onychomycosis Market
- Upcoming Trends,
Growth Drivers and Challenges – Forecast to -2025” has been featured on WiseGuyReports.
Market analysis
Generally, onychomycosis implies to the fungal infection of the nail. The
global onychomycosis market is expected to exhibit lucrative growth during the
forecast period. Some of the major factors characterizing the market growth are
rising global prevalence of onychomycosis, rising per capita healthcare
spending, surging diabetic patient population, and increasing prevalence of
peripheral artery disease (PAD). The Global Onychomycosis Market is expected to
register a CAGR of 6.28% to reach 7,912.5 million by 2025. The aging
population, increased ingesting of immunosuppressive drugs, rising prevalence
of diseases such as human immunodeficiency virus (HIV) and diabetes that
suppress the immune- status of patients, increased experience to spas and
public swimming pools, wearing tight-fitting shoes and clogs, and wearing
sweaty footwears have been the factors for the rise in the incidence of
mycoses. Onychomycosis represents 20% to 40% of all onycho-pathies around the
earth. An article published on the ScienceDirect stated that, at present,
worldwide onychomycosis prevalence ranges from 2% to 50%, and it represents
roughly 30% of superficial mycotic infections and 50% of all nail disorders.
Additionally, onychomycosis mainly affects adults between 30 and 60 years of
age. Thus, this increasing prevalence of onychomycosis across the world is
fueling the necessity for treatment drugs and therapies around the globe,
thereby supporting the market growth. In January 2019, Galderma Laboratories
revealed the opening of a new office in Malaysia, which would help it to
accelerate the growth in the region. On the contrary, the side-effects
associated with onychomycosis treatment drugs as well as lack of awareness
about onychomycosis are anticipated to limit the market growth over the
forecast period. Onychomycosis also called tinea unguium, is a fungal infection
of the toenails or fingernails that may involve any component of the nail unit,
including the matrix, bed, or plate. An article published in the Journal of
Tropical Medicine stated that, presently, the prevalence of onychomycosis
mainly caused by nondermatophyte molds is rising around the globe.
Market segmentation
The Global Onychomycosis Market is segmented based on distal subungual
onychomycosis (DSO), white trivial onychomycosis (WSO), proximal subungual
onychomycosis (PSO), candida onychomycosis, as well as others. In June 2019,
Janssen Research & Development, LLC, part of the Janssen Pharmaceutical
Companies of J&J Services announced a partnership with the University of
California, Berkeley and the University of California, San Francisco, to
enlarge data science research in healthcare Based on conduct type, the global
onychomycosis market has been divided into drug treatment, topical treatment,
and others. The global onychomycosis market, by distribution channel, has been
segmented into hospital pharmacies, retail pharmacies, and others. The retail
pharmacies segment held a share of 35.8% in 2018. In November 2018, Moberg
Pharma signed an exclusive agreement with Mundipharma to commercialize Emtrix
in the Middle East and African region
Regional analysis
Geographically the Global Onychomycosis Market is split in regions like
North & South America, Europe, Asia-Pacific, Middle east and Africa and
Rest of the world. Asia-Pacific is anticipated to be the sharpest-expanding
region in the global marketplace owing to the survival of huge older general
population, quickly enlarging medical expertise, growing nonrefundable revenue,
convenience of drugs, and high unmet clinical needs. India apprehended a share
of 12.57% in onychomycosis market in 2018. The Americas is expected to hold the
greatest share of the global onychomycosis market. This owes to the authority
of key market participants, modern healthcare infrastructure, increasing
prevalence of onychomycosis and peripheral artery illness, rising per capita
healthcare outflow, and a surge in the diabetic patient population. The
onychomycosis market in the Middle East and Africa is expected to witness a
modest market growth rate from 2019 to 2025. The Middle East would lead the
market growth, attributing to facts such as increasing partnerships or
agreements to commercialize onychomycosis goods, developing healthcare
infrastructure, booming medical tourism, budding healthcare industry, and
growing consciousness about onychomycosis and its treatment drugs and
therapies. Europe is also expected to hold a substantial market share in the
coming years. This is attributed to the rising geriatric population and
escalating burden of diabetes, flourishing pharmaceutical manufacturing, and
growing experience rates of onychomycosis in the UK, Germany, France, and
Spain.
Major players
The proposed spectators in the Global Onychomycosis Market are
Pharmaceutical companies, manufacturers, Retailers, distributors, wholesalers,
Investors and trade experts, Governments, associations, industrial bodies, etc.
The major companies functioning in the Global Onychomycosis Market are
concentrating on firming their global ways by entering into untouched markets.
The projected onlookers in the Global Onychomycosis Market are companies like
Galderma Laboratories (Switzerland ), Novartis AG (Switzerland), Pfizer, Inc.
(the US), Taro Pharmaceuticals Industries Ltd (Israel) Bausch Health Sciences
(Canada), Moberg Pharma AB (Sweden), Dr. Reddy’s Laboratories Ltd (India),
Medimetriks Pharmaceuticals, Inc. (US), Merz Pharma (Germany), Kaken
Pharmaceutical Co., Ltd (Japan), Johnson & Johnson Services, Inc. (US) an
GlaxoSmithKline plc (UK), among others.
FOR MORE DETAILS : https://www.wiseguyreports.com/reports/5166730-global-onychomycosis-market-research-report-forecast-to-2025
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