Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Dermatophytic onychomycosis is a dermatophytic invasion of the nail plate. This condition is mostly observed in adults above 60 years of age. Occlusive footwear, exposure to damp places such as locker rooms, and dissemination of various strains of fungus are major factors that could lead to dermatophytic onychomycosis. The global dermatophytic onychomycosis treatment market is estimated to account for US$ 7,851.4 Mn in terms of value by the end of 2027.
Global Dermatophytic Onychomycosis Treatment Market: Drivers
The global dermatophytic onychomycosis treatment market is expected to witness significant growth during the forecast period, owing to rising research and development of new therapies for the treatment of dermatophytic onychomycosis. For instance, Dong-A ST Co., Ltd. is assessing the antifungal efficacy and safety of Jublia topical solution for the treatment of mild or moderate onychomycosis due to dermatophyte. The study is expected to be competed in December 31, 2019.
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Global Dermatophytic Onychomycosis Treatment Market: Opportunities
An effective novel alternative treatment for toenail onychomycosis is laser therapy, as it has minimal to no risk of side effects. This treatment is carried out by shining a laser light through the toenail into the tissue below. The fungus is vaporized by the laser light without causing any harm to the skin and surrounding healthy tissues. Therefore, major players in the market are focusing on developing laser therapy for the treatment of dermatophytic onychomycosis.
Global Dermatophytic Onychomycosis Treatment Market: Restraints
Factors such as medication-driven treatments for toenail fungus that results in liver toxicity is expected to restrain the global dermatophytic onychomycosis treatment market growth.
Among treatment, topical segment in the global dermatophytic onychomycosis treatment market was valued at US$ 2,713.0 Mn in 2018 and is expected to reach US$ 6,086.0 Mn by 2027, at a CAGR of 9.5% during the forecast period. This is attributed to rising incidence of toenail onychomycosis and rising research and development of topical medications. Among end user, independent pharmacies segment held dominant position in the global dermatophytic onychomycosis treatment market in 2018, accounting for 50% share in terms of volume, followed by hospitals and clinics, respectively. This segment is expected to exhibit growth over the forecast period, owing to rising number of independent pharmacies in developed and emerging economies.
One of the major trends in the market include the use of extracts from medicinal plants for the treatment of dermatophytic onychomycosis. For instance, in October 2019, researchers from BabeÈ-Bolyai University Romania reported the antifungal and antioxidant activities of Alium sativum extract against Meyerozyma guilliermondii Kurtzman and M. Suzuki and Rhodotorula mucilaginosa F.C. Harrison, isolated for the first time from a toenail onychomycosis case. Another market trend is the use of a pulse therapy regimen using terbinafine 500 mg for the treatment of dermatophytic onychomycosis.
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Global Dermatophytic Onychomycosis Treatment Market: Competitive Landscape
Key players operating in the global dermatophytic onychomycosis treatment market include Valeant Pharmaceuticals International Inc., Galderma S.A., Novartis AG, Pfizer Inc., Moberg Pharma AB, Janssen Global Services, LLC (Johnson & Johnson Services, Inc.), Anacor Pharmaceuticals, Inc., NovaQuest Capital Management, L.L.C., and Novan, Inc.
Global Dermatophytic Onychomycosis Treatment Market: Key Developments
Major players in the market are focused on adopting inorganic growth strategies such as partnership and collaboration, in order to expand their product portfolio. For instance, in June 2019, Mycovia Pharmaceuticals, Inc. partnered with Jiangsu Hengrui Medicine Co., Ltd. for the development and commercialization of Mycovia’s investigational drug, VT-1161 (otesaconazole), in China, for the treatment or prevention of several fungal infections such as onychomycosis. Moreover, key players are focusing on raising funds to expand their product portfolio. For instance, in April 2019, Novan, Inc. secured around US$ 35 million in non-dilutive capital to advance its late-stage dermatology assets.
- Dermatophytic Onychomycosis Treatment Market, By Product Type:
- Mail Paints
- Dermatophytic Onychomycosis Treatment Market, By Treatment:
- Dermatophytic Onychomycosis Treatment Market, By End User:
- Independent Pharmacies
- Mail Order Pharmacies
- Drug Stores
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