Over the projection period, the risk of onychomycosis in diabetic patients or the rising prevalence of diabetes worldwide are anticipated to fuel market expansion for onychomycosis treatments. For instance, diabetics are more likely than non-diabetics to develop onychomycosis, and they are also more likely to experience major consequences from the condition. The World Diabetes Federation estimates that 537 million individuals (20-79 years old), or one in ten, have diabetes as of the year 2021. By 2030 and 2045, this number is projected to increase to 643 million and 783 million, respectively. This could help the market for treating onychomycosis grow in turn. Throughout the forecast period, an increasing elderly population is anticipated to fuel market expansion for onychomycosis treatments.
The global Onychomycosis Treatment Market was valued at US$ 2,859.8 Mn in 2021 and is forecast to reach a value of US$ 4,185.4 Mn by 2028 at a CAGR of 5.7% between 2022 and 2028.
Key Companies in the Onychomycosis Treatment Industry:
1. Lumenis Ltd
Since 1966 Lumenis is a global leader in the field of minimally-invasive clinical solutions for the Surgical, Ophthalmology and Aesthetic markets, and is a world-renowned expert in developing and commercializing innovative energy-based technologies. The company is operational in more than 100 countries and has headquarters situated in Yokne'am Ilit, Tsafon. In April, 2021 Lumenis Ltd announced that the FDA has granted De Novo authorization for Lumenis’ newest IPL device for improving signs of dry eye disease due to meibomian gland dysfunction (MGD).
2. Cipla Limited
Cipla Limited, together with its subsidiaries, manufactures and sells pharmaceutical products in India, the United States, South Africa, and internationally. The company was incorporated in 1935 and is headquartered in Mumbai, India. Cipla Limited has a licensing agreement with Merck & Co., Inc. for the manufacturing and distribution of Molnupiravir, an investigational oral antiviral drug; a license agreement with Eli Lilly and Company for the manufacture and commercialization of the drug baricitinib for Covid-19 indication; and collaborations with Dr. Reddy's Laboratories Ltd, Sun Pharmaceutical Industries Limited, Emcure Pharmaceuticals Limited, and Torrent Pharmaceuticals Limited for the clinical trial of the investigational oral anti-viral drug Molnupiravir.
3. Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), Proprietary Products, and others segments. Dr. Reddy's Laboratories Limited was incorporated in 1984 and is headquartered in Hyderabad, India. Dr. Reddy's Laboratories Limited was incorporated in 1984 and is headquartered in Hyderabad, India. On Feb 2021, Dr. Reddy’s Laboratories has introduced an orally disintegrating formulation of lansoprazole to the U.S. market. Lansoprazole is a proton pump inhibitor, a mechanism of action designed to reduce the amount of acid made in the stomach and thereby treat conditions including indigestion, heartburn, acid reflux and gastroesophageal reflux disease.
4. Bayer AG
Bayer Aktiengesellschaft, together its subsidiaries, operates as a life science company worldwide. It operates through Pharmaceuticals, Consumer Health, and Crop Science segments. Bayer Aktiengesellschaft was founded in 1863 and is headquartered in Leverkusen, Germany.
5. Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company was founded in 1886 and is based in New Brunswick, New Jersey. On October 2022, The U.S. Food and Drug Administration (FDA) has approved Johnson & Johnson's therapy for treating a type of multiple myeloma, the company said on Tuesday, giving another treatment option to patients with the incurable blood cancer.
6. Pfizer Inc.
Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Myovant Sciences Ltd.; Akcea Therapeutics, Inc; Merck KGaA; Valneva SE; BioNTech SE; and Arvinas, Inc. on December 2022, Pfizer Presents Updated Favorable Elranatamab Data from Pivotal Phase 2 MagnetisMM-3 Trial, early and deep responses, and a manageable safety profile for elranatamab in heavily pretreated patients with advanced multiple myeloma.
7. Novartis International AG
Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. Novartis AG was incorporated in 1996 and is headquartered in Basel, Switzerland. Novartis AG has a license and collaboration agreement with Alnylam Pharmaceuticals to develop, manufacture, and commercialize inclisiran, a therapy to reduce LDL cholesterol.
8. Bausch Health Companies Inc
Bausch Health Companies Inc., together with its subsidiaries, develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. It was founded in July 2018. Bausch Health Companies Inc. is headquartered in Laval, Canada. On Aug. 10, 2022 Bausch Health Companies Inc. and its gastroenterology business, Salix Pharmaceuticals, announced its support of the publication of a new specific ICD-10 code from the Centers for Medicare & Medicaid Services (CMS) for hepatic encephalopathy (HE) based on the growing incidence of chronic liver disease in the United States
9. Galderma SA
Established in 1981, Galderma is the pure-play dermatology category leader, present in approximately 90 countries. It has headquarters situated in Zug, Switzerland.
10. Moberg Pharma AB
Moberg Pharma AB (publ), a pharmaceutical company, develops and commercializes medical products in Europe, the United States, and internationally. Moberg Pharma AB (publ) was incorporated in 2006 and is headquartered in Bromma, Sweden.
*Definition- A fungal infection of the toenails or fingernails called onychomycosis can affect any part of the nail unit.
