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Onychomycosis Market Report 2024: Size, Share, and Growth Trends

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Overview and Scope
Onychomycosis is a nail infection that can affect the matrix, bed, or plate of the nail, as well as the toenail or fingernail. It is a typical condition brought on by different fungi, such as dermatophytes, yeasts, and molds.

Sizing and Forecast
The onychomycosis market size has grown strongly in recent years. It will grow from $3.4 billion in 2023 to $3.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%.  The  growth in the historic period can be attributed to limited treatment options, aging population, increased incidence of diabetes, expansion of the pharmaceutical industry, growing awareness of fungal infections.

The onychomycosis market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.  The growth in the forecast period can be attributed to adoption of combination drug therapies, increasing healthcare expenditure, growing awareness campaigns for onychomycosis, expansion of telemedicine services, advances in topical drug formulations. Major trends in the forecast period include integration of digital technologies in onychomycosis diagnosis and management, rise in over-the-counter (otc) antifungal products, development of patient-friendly treatment regimens, emphasis on personalized medicine in onychomycosis treatment, collaboration between pharmaceutical companies for research and development.

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Segmentation & Regional Insights
The onychomycosis market covered in this report is segmented –

1) By Type: Distal Subungual Onychomycosis (DSO), White Superficial Onychomycosis (WSO), Proximal Subungual Onychomycosis (PSO), Candida Onychomycosis, Other Types
2) By Treatment: Drug Treatment, Topical Therapy, Other Treatments
3) By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, Other Distribution Channels

North America was the largest region in the onychomycosis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the onychomycosis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East,  Africa.

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Major Driver Impacting Market Growth
The surge in diabetic patient population is expected to propel the growth of the onychomycosis market going forward. Diabetes is a chronic disease caused by either insufficient insulin synthesis by the pancreas or ineffective insulin utilization by the body. Onychomycosis is a common foot problem for people with diabetes, which can be managed by preventing and managing complications associated with onychomycosis. Hence, the rising incidence of diabetes boosts the demand for the onychomycosis market. For instance, in December 2021, according to the International Diabetes Federation, a US-based intergovernmental organization, diabetes threatened 537 million elderly individuals (20–79 years old) around the world in 2021, and it's expected to affect 643 million individuals by 2030, and a total of 783 million individuals by 2045. Therefore, the rising incidence of diabetes is driving the growth of the onychomycosis market.

Key Industry Players
Major companies operating in the onychomycosis market report are Pfizer Inc., Johnson & Johnson Services Inc., Merck & Co. Inc., Bayer AG, Novartis AG, GlaxoSmithKline PLC, Eli Lilly and Company, Sandoz International GmbH, Bausch Health Companies Inc., Perrigo Company plc, Galderma Laboratories LP, Aurobindo Pharma Limited, Cipla Inc., Dr.Reddy's Laboratories Ltd., Apotex Inc, Lupin Limited, Amneal Pharmaceuticals Inc., Alembic Pharmaceuticals Inc., Kaken Pharmaceutical Co. Ltd., Mayne Pharma Group Limited, Wockhardt Ltd., Sato Pharmaceutical Co. Ltd., Anacor Pharmaceuticals Inc., Jubilant Cadista Pharmaceuticals Inc., Moberg Pharma AB, Medimetriks Pharmaceuticals Inc., Blueberry Therapeutics Ltd., Hallux Inc., NovaBiotics Ltd., Zydus Cadila Healthcare Limited.

The onychomycosis market report table of contents includes:

1. Executive Summary
2. Onychomycosis Market Characteristics
3. Onychomycosis Market Trends And Strategies
4. Onychomycosis Market – Macro Economic Scenario
5. Global Onychomycosis Market Size and Growth
31. Global Onychomycosis Market Competitive Benchmarking
32. Global Onychomycosis Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Onychomycosis Market Future Outlook and Potential Analysis
35. Appendix

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