December 9, 2023

Onychomycosis Treatment Market Trends: A Deep Dive into Key Factors

The global onychomycosis treatment market is experiencing robust demand due to the rising incidence of fungal nail infections, also known as onychomycosis. This common condition affects both toenails and fingernails, with toenail infections being more prevalent. Onychomycosis is primarily caused by nail fungi known as dermatophytes and can be triggered by various factors such as weakened immune systems, excess sweating, diabetes, circulatory issues, and psoriasis. The impact of onychomycosis on patients includes discolored, brittle, and distorted nails, which can lead to a diminished quality of life and self-esteem.

According to estimates, the annual global prevalence of onychomycosis among adults ranges from 7% to 10%, with an increasing incidence observed among individuals with chronic diseases such as diabetes mellitus, psoriasis, and peripheral vascular diseases. Additionally, genetic predisposition, athlete’s foot, and acquired immunodeficiency syndrome (AIDS) contribute to a higher risk of developing onychomycosis, further driving the demand for effective treatments worldwide.

Chronic Conditions Amongst Aged Drive Onychomycosis Treatment Market

In the United States, toenail onychomycosis is estimated to affect 10-14% of the population. The growing geriatric population is a primary driver of market growth. As consumers increasingly prioritize the aesthetic appeal of their nails, the risk of nail fungi infections rises, fueling the demand for onychomycosis treatments. Furthermore, individuals with diabetes have a significantly higher risk of dermatophytic onychomycosis compared to the general population. Regional variations in onychomycosis prevalence are observed, with rates ranging from 10% to 14% in North America, 4% to 5% in tropical Asian countries, and up to 17% in European countries. The rising prevalence of onychomycosis presents significant growth opportunities for market players.

Unmet Need for Safer, More Effective, and Convenient Topical Products Spur R&D in Onychomycosis Treatment Market

Currently, both topical and oral treatment options are available for onychomycosis. However, topical treatments are preferred over oral medications due to their convenience and lower risk of toxicity. Nail lacquers are gaining popularity for toenail onychomycosis treatment as they offer extended nail coverage. Many patients discontinue treatment prematurely, often due to slow visible improvements in nail appearance. Research shows that a substantial portion of patients (between 50% and 90%) with fungal nail infections do not seek or receive onychomycosis treatment. The current treatment regimens have limitations, with topical drugs requiring long treatment courses and having limited efficacy, while oral drugs pose a risk of toxic side effects. Consequently, both clinicians and patients are actively seeking safer topical products with enhanced efficacy and shorter therapy durations.

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Onychomycosis Treatment Market to See High Demand for Combination Therapies, Strengthening Product Pipeline

The current U.S. onychomycosis treatment market features four key topical products, including Loceryl (5% Amorolfine), Penlac/Rejuvenail/Ciclodan/Penlac Nail Lacquer (8% Ciclopirox), Kerydin/Tavaborole (5% Tavaborole), and Jublia (10% Efinaconazole), with Jublia leading in revenue. In the oral drugs category, globally approved options include LamISIL/Terbinex (terbinafine), Onmel/Sporanox/Sporanox/PulsePak/Tolsura (itraconazole), and Grifulvin V/Gris-PEG (griseofulvin).

Combination therapy has emerged as a prominent onychomycosis treatment option, involving the use of oral and topical antifungal treatments to achieve higher efficacy and faster results while reducing disease recurrence. Additionally, several promising topical drug agents in advanced stages of development offer disease-modifying properties, improved efficacy, and safety profiles.

Hexima Limited is developing a novel topical therapeutic (HXP124) for fungal nail infections, and Moberg Pharma has introduced MOB-015, a topical formulation that demonstrated positive outcomes in recent phase 3 clinical trials. Moberg Pharma estimates potential annual worldwide peak sales for MOB-015 to range from $250 million to $500 million.

North America and Europe Prominent; Asia Pacific Exhibits Strong Growth Potential

North America and European countries currently dominate the global onychomycosis treatment market. The expansion of the elderly population in Europe drives the demand for onychomycosis treatment, while U.S. citizens with undiagnosed diabetes in 2018 numbered approximately 34 million, further contributing to market growth. The emphasis on physical appearance in these regions indirectly bolsters market expansion.

In Asia Pacific, developing countries like China are expected to witness significant growth in onychomycosis treatment demand during the forecast period, along with Southeast Asian economies. Research in China revealed that approximately 2% of the adult population suffers from nail infections. In South Korea, approximately 10% of the population is affected by onychomycosis, with a majority going untreated. Moberg Pharma AB estimates that the Korean market for topical drugs for onychomycosis is valued at approximately $40 million.

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Companies Explore Strategic Collaborations to Gain a Competitive Edge in Onychomycosis Treatment Market

Key market players are actively pursuing collaboration opportunities to strengthen their market positions and increase market penetration. Swedish company Moberg Pharma AB, for example, has entered into a distribution agreement with DongKoo Bio & Pharma Co., Ltd. for the distribution of MOB-015 in the Republic of Korea. Notable companies in the onychomycosis treatment market include Hexima Limited, Teva Pharmaceutical Industries Ltd., Sanofi S.A., Valent Pharmaceutical, Galderma, Johnson & Johnson, Novartis AG, Moberg Pharma AB, Cardinal Health, Inc., Pfizer Inc., Almirall, S.A., Bayer AG, Viatris Inc., GlaxoSmithKline plc, Cipla Ltd., and Dr. Reddy’s Laboratories Ltd.

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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This press release first seen on Brilad