ONYCHOMYCOSIS TREATMENT MARKET ANALYSIS

Onychomycosis Treatment MarketSize and Trends

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. The market is experiencing strong growth owing to the risk of onychomycosis in diabetic patient and growing geriatric population worldwide. Moreover, rise in demand for safe and effective treatment and increase in focus on the development of novel onychomycosis treatments is expected to boost the growth of the market. However, factors such as side effects of onychomycosis treatment and Availability of alternative treatment options are expected to hamper growth of the market.

Global Onychomycosis Treatment Market: Regional Insights

Global Onychomycosis Treatment Market Trends:

With the increase in demand for safe and effective treatment, the number of clinical trials around the world is also increasing with the rapid pace. Players in the market are focusing on conducting clinical trials to expand their product portfolio. Market players are launching safe, effective, novel onychomycosis treatments to treat onychomycosis. This trend is expected to continue during the forecast period, driving the growth of the market.

Moreover, one of the major trend driving the onychomycosis treatment market growth is the rise in prevalence of onychomycosis and rise in awareness among people. For instance, several studies have shown that the prevalence of onychomycosis increases with the age, possibly due to diabetes mellitus, poor peripheral circulation, prolonged exposure to pathogenic fungi, and repeated nail trauma, among others. This trend is also expected to continue during the forecast period, driving the growth of the global onychomycosis treatment market.