Global Paronychia Treatment Market is expected to grow at a CAGR of 11.7% during the forecast period 2017-2023. Global market for paronychia treatment is one of the steady growing markets. Paronychia usually happens when the skin around an individual’s nail is irritated or harmed. Paronychia is a soft tissue infection of the skin around the fingernails and toenails. Bacteria which cause this type of infection are known as Candida. The infection begins as cellulitis but may progress to a definite abscess.
Some of the key players in this market are GlaxoSmithKline plc (U.K), Glenmark Generics Ltd. (India), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly Company (U.S.), Jonakayem Pharma Formulation Pvt. Ltd. (India), Fougera Pharmaceuticals Inc. (U.S.), Taro Pharmaceutical Industries Ltd. (U.S.), Perrigo New York, Inc. (U.S.) and others.
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Paronychia Treatment Market – Overview
The paronychia treatment market is growing mainly due to rising cases of infection. According to a recent study report published by the Market Research Future, the paronychia treatment market is booming and expected to gain prominence over the forecast period. The market is forecast to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2022).
Paronychia is a soft tissue infection that begins as cellulitis but can progress to a definite abscess. There are majorly two types of paronychia i.e. acute paronychia, and chronic paronychia. The treatment of paronychia depends upon the extent of the infection. In case of acute paronychia, medical care is usually adopted. Major symptoms associated with paronychia are redness of the skin around nail, tenderness of the skin around your nail, changes in nail shape, colour, or texture, detachment of nail, and pus-filled blisters.
Paronychia Treatment Market – Competitive Analysis
The paronychia treatment market is currently dominated by various players. Due to rising research and development expenditure various existing and new marketers are continuously coming up with advanced drugs to control this condition. The global paronychia treatment market is currently dominated by numerous players.
Astellas is one of them by holding a strong share in the market. The company is a multinational pharmaceutical and biopharmaceutical company. Astellas offers distinctive products such as Cresemba, AmBisome, and many others. On March 6, 2015, Cresemba received FDA approval for treatment of fungal infection. On Nov. 9, 2015, Astellas Pharma Inc. acquired Ocata Therapeutics, Inc. for USD 379 million.
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The Americas account for a major share in the global paronychia treatment market owing to the increasing prevalence of acute paronychia, chronic paronychia, candidal paronychia, and pyogenic paronychia. Moreover, well-developed technology, increasing government support for research & development, high healthcare expenditure, and changing lifestyle have fuelled the growth of the Americas paronychia treatment market. Additionally, the concentration of major players in this region is likely to fuel the growth of the market during the forecasted period.
Europe holds the second largest paronychia treatment market, which is followed by Asia Pacific. Availability of funds for research & development and strong government support, drive the market growth. For instance, countries like Germany and France are increasing investment in the healthcare domain. Most of the players belong to this region and are constantly investing more into research and development for introducing quality treatment. There is a huge demand of quality treatment from the emerging market. Thus, they encash the opportunity and maximize the market share by exporting better treatment option to the developing countries of Asia Pacific region.
Table of Content:
Market Factor Analysis
Global Paronychia Treatment Market, By Types
Global Paronychia Treatment Market, By Application
Global Paronychia Treatment Market, By End User
Global Paronychia Treatment Market, By Region
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