Onychomycosis Market Size, Share, Growth, Trends, and Global Industry Analysis: By Molecule Type (Amorolfine, Ciclopirox, Efinaconazole, Fluconazole, Griseofulvin, Itraconazole, Ketoconazole, Tavaborole, Terbinafine, Luliconazole), By Route of Administration (Oral and Topical) and Region

Onychomycosis Market was valued at US$ 4,206.8 million in 2023 and is expected to grow at a 3.8% CAGR from 2024 to 2029. The prevalence of the nail fungus, i.e., dermatophytic onychomycosis, is on the rise currently due to increased incidence rates of chronic diseases such as diabetes mellitus, peripheral vascular diseases, psoriasis, etc. The risk is also high in the cases of patients with athlete’s foot, genetic predisposition, organ transplants, and HIV-positive patients. Thus, many such secondary factors might fuel sales of dermatophytic onychomycosis products on the market. The risk of onychomycosis is 1.9 to 2.8 times higher in people with diabetes compared with the general population. In the U.K., the population surveyed revealed a prevalence of dermatophyte nail infection of 2.8% in men and 2.6% in women. In the group aged 16–34 years, the prevalence rate was 1.3%; this increased to 2.4% in the group aged 35–50 years and to 4.7% in those aged 55 years or over.

The prevalence of onychomycosis has been steadily increasing worldwide due to factors such as aging populations, higher rates of diabetes, compromised immune systems, and lifestyle habits (e.g., wearing closed-toe shoes and sharing communal spaces like gyms and swimming pools). As the number of affected individuals rises, the demand for treatments to manage the condition also increases. Fungal infections represent almost 50% of all nail conditions, with a prevalence varying between 3% and 26% in different populations around the world (4.3% across Europe and North America).The global onychomycosis treatment market is projected to reach US$ 5,307.5 Million by 2029 due to there has been a growing awareness of onychomycosis among both patients and healthcare professionals. Increased awareness leads to more individuals seeking treatment for their nail fungal infections and more accurate diagnosis by healthcare providers.

Onychomycosis Market Key Developments:

• In October 2022, Bausch Health Companies Inc. and its dermatology division, Ortho Dermatologics, unveil the Podiatry Board Review Challenge. This innovative educational tool, crafted in collaboration with practicing podiatrists, aims to aid residents in their board certification exam preparation, assist podiatric healthcare professionals with re-certifications, and offer a resource for podiatrists seeking to enhance their expertise and understanding.
• In May 2022, Bayer's Consumer Health division introduced an enhanced lineup of Canesten® products, their anti-fungal treatment solution, in India. The updated range, available in both powder and cream variants, delivers anti-fungal properties aimed at preventing and treating skin infections. Canesten® offers a user-friendly approach, serving as a comprehensive solution for controlling skin infections throughout their entire cycle. In addition to alleviating itching, Canesten® effectively inhibits the spread of infection.