Global Onychomycosis Market to Benefit from Rising Geriatric Population during the Forecast Period 2020 to 2027
US Onychomycosis Information, by types (distal subungual onychomycosis (dso), white superficial onychomycosis (WSO), proximal subungual onychomycosis (PSO), endonyx onychomycosis (EO), and others) - Forecast to 2027
Market Synopsis:
According to Market Research Future (MRFR)’s study, the global onychomycosis market is projected to strike a CAGR of 7.9% during the forecasted period 2017 to 2023. As onychomycosis majorly affects the elderly people, the growing geriatric population is one of the important drivers responsible for the expansion of the market. According to a published report, the global aging population is estimated to get doubled by the end of 2020.
The large-scale prevalence of diabetes is another factor positively influencing the proliferation of the onychomycosis market in the forthcoming years. The changing lifestyle and rising burden of low-immunity are expected to propel the expansion of the market growth further.
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The rising awareness about the disease has necessitated research & development for the development of new technologies, treatments, and drugs. This, in turn, has been identified as a catalyst to the expansion of the onychomycosis market for the next few years. On the flip side, factors such as low healthcare expenditure coupled with limited awareness in the developing nations are poised to hinder the proliferation of the onychomycosis market through the review period.
Market Segmentation:
By type, the global onychomycosis market has been segmented into distal subungual onychomycosis, white superficial onychomycosis, proximal subungual onychomycosis, candida onychomycosis, and others.
By treatment, the onychomycosis market has been segmented into drug treatment, tropical therapy, debridement, and others.
By end-user, the global onychomycosis market has been segmented into hospital pharmacies, private pharmacies, and others.
Regional Analysis:
The global onychomycosis market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is likely to dominate the global market through the forecast period. It is projected to exhibit healthy growth over the next couple of years owing to the growing prevalence of onychomycosis in the region. Furthermore, the growing awareness about the diseases is also expected to have a favorable impact on the proliferation of the regional onychomycosis market in the forthcoming years.
Europe is predicted to retain its already secured second spot across the assessment period. The presence of a massive geriatric population is projected to augment the onychomycosis market in the region. Asia Pacific is expected to become the fastest growing regional market across the review period. The growth of the regional onychomycosis market can be ascribed to the rising geriatric population and the increasing burden of diabetes. However, the Middle East & Africa has been anticipated to exhibit limited growth over the next few years. The factors such as limited development in medical facilities, poor socio-economic condition, etc. are presumed to have a negative impact on the expansion of the regional market.
Competitive Dashboard:
Abbott Laboratories Ltd. (US), Pfizer Inc. (US), Valeant Pharmaceuticals (Canada), GlaxoSmithKline Plc. (UK), Galderma (Switzerland), Bristol Meyer Squibb company (US), Cutera Inc. (US), Janssen Biotech (US), Sciton Inc (US), Novartis AG (Switzerland), Taro Pharmaceutical Industries Ltd. (US), Seren Pharmaceuticals Pvt. Ltd (China), Sanofi Ltd. (France), Topica Pharmaceuticals Inc. (US), Nuvo Research Inc. (Canada), NanoBio Corporation (US), NovaBiotics Ltd (UK), Viamet Pharmaceuticals Inc. (US), Merz Pharma gmbh & co. kgaa (Germany), and Polichem SA (Switzerland) are some of the key players profiled in this MRFR report.
Industry News:
In July 2018, Anacor Pharmaceuticals Inc., a biopharmaceutical company, has received regulatory approval to sell its topical treatment for onychomycosis.
In August 2018, pharmaceutical company Acrux’s “Paragraph IV Abbreviated” new drug application (ANDA) dossier for the treatment for onychomycosis.
In September 2018, Cipher Pharmaceuticals, a specialty pharmaceutical company, has announced the acquisition of Exclusive Canadian Rights to MOB-015 from Swedish pharmaceutical company, Moberg Pharma, for the topical treatment of Onychomycosis.
In December 2018, Almirall, a Spanish pharmaceutical company, has announced that the Phase III trial of P-3058 for the treatment of onychomycosis has achieved primary endpoint.
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