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Description
Onychomycosis Market size was valued at USD 3.42 billion in 2022 and is expected to grow at a CAGR of 4.4% from 2022-2028. Onychomycosis constitutes 20% to 40% of all globe-wide onycho-pathies. An article published on ScienceDirect reported that the prevalence of onychomycosis around the world currently ranges from 2% to 50%, representing approximately 30% of superficial mycotic infections and 50% of all nail disorders. In addition, onychomycosis affects predominantly adults aged between 30 and 60. Lack of awareness about onychomycosis, sudden outbreak of the Covid-19 pandemic caused a great deal of chaos leading to an economic crisis. This has contributed to decrease the market growth rates. Moreover, emerging economies like China, India, and others will generate new prospects for the global market for onychomycosis. Tinea unguium, or onychomycosis, is a fungal infection of the fingernails or toenails that can affect any part of the nail unit, including the matrix, bed, or plate. This can result in pain, deformity, and discomfort, as well as significant difficulties and a reduction in quality of life. Subungual onychomycosis, distal and lateral subungual onychomycosis, proximal subungual onychomycosis, endonyx onychomycosis, and complete non-dystrophic onychomycosis are all kinds of onychomycosis. Only around half of nail dystrophies are caused by fungus, hence onychomycosis accounts for one-third of fungal skin infections. The onychomycosis treatment market is being driven by the growing elderly population, rising prevalence of onychomycosis, and diabetes population worldwide, as well as growing knowledge about the potential hazards of onychomycosis.
