Global Onychomycosis Market is expected to reach US$ 6.9 Bn in 2031 with a growth rate of 5.2%. Onychomycosis, commonly known as nail fungus, is a highly prevalent fungal infection of the nail caused by dermatophytes, yeasts and molds. It leads to discoloration, thickening, deformity and separation of the nail from the nail bed. The rising prevalence globally is attributed to risk factors like advanced age, diabetes, compromised immunity, and lifestyle habits.

The Onychomycosis industry comprises pharmaceutical therapies and medical devices used for treating nail fungal infections. Oral antifungals like terbinafine dominate the market, followed by topical drugs, laser devices, photodynamic therapy and surgical procedures. However, low cure rates with monotherapies have led to a shift towards combination treatment protocols that are driving growth currently.

The Onychomycosis market outlook remains positive driven by the rising diabetic and geriatric population base worldwide. According to IDF estimates, the number of people with diabetes globally is expected to reach 643 million by 2031 from 537 million in 2021. The population aged 60 years and above is projected to grow from 1 billion in 2020 to 1.4 billion by 2031. The susceptibility of these groups to nail fungus will significantly expand the addressable patient pool.

Further, advancements in diagnostics like PCR testing are enabling early infection detection, while novel topical solutions and laser devices are enhancing the treatment landscape. Combination therapy and emerging oral drugs are addressing issues around low cure rates, which will provide opportunities for premium pricing. North America and Europe are the largest Onychomycosis markets supported by high prevalence and access to advanced therapeutics. However, Asia Pacific is expected to exhibit the fastest growth over the forecast period attributable to rising diabetic populations in India and China coupled with improving healthcare infrastructure.

Overview:

Onychomycosis, also known as tinea unguium, is a fungal infection of the nail. It is caused by dermatophytes, fungi that feed on keratin, the protein that makes up hair, nails and skin. The infection causes the nail to become thickened, discolored and brittle. If left untreated, the infection can spread and eventually cause the nail to separate from the nail bed.

Onychomycosis is very common, affecting around 10% of the global population. It is more prevalent in older adults, people with diabetes or a weakened immune system, and those who walk barefoot in damp public areas like swimming pools and locker rooms. The prevalence is rising due to increasing geriatric population and prevalence of diabetes.

Drivers:

• The growing global prevalence of diabetes is significantly driving Onychomycosis prevalence and market growth. According to IDF, the number of adults with diabetes worldwide is expected to reach 643 million by 2031 from 537 million in 2021.
• The rising geriatric population susceptible to nail fungus due to age-related immunosenescence and nail changes is also propelling market growth. The global population aged 60 years and above is projected to grow from 1 billion in 2020 to 1.4 billion by 2031.

Trends:

• The Onychomycosis market is witnessing an increasing focus on combination treatment approaches that leverage synergistic mechanisms for higher cure rates.
• Direct-to-consumer marketing focused on treatment accessibility, efficacy and discreet wearable designs has gained significant traction.

Opportunity:

The development of topical drug delivery innovations like hydrogels, microemulsions and iontophoresis to enhance nail penetration presents an important opportunity in Onychomycosis market.

Key Report Insights:

• Major market driver: Rising prevalence of diabetes and geriatric population globally (Diabetics are at higher risk of developing onychomycosis due to high blood sugar levels).
• Companies are developing novel topical treatments, oral antifungals and laser devices for onychomycosis treatment. Research underway on immunotherapy.
• Advancements in diagnostic tests like PCR for early and accurate detection of the infection.
• Shift towards combination therapies using oral antifungals and laser devices for better treatment outcomes.

Key Regional Insights:

• North America was the largest Onychomycosis market with over 38% share in 2023, driven by high prevalence in the U.S., presence of key players like Pfizer, Merz Pharma, NovaBiotics and access to novel therapies.
• Europe accounted for over 32% market share in 2023, aided by rising geriatric population and key regional players Bayer, Galderma, Biofrontera and Moberg Pharma undertaking R&D initiatives.
• Leading companies operating in the global Onychomycosis market include Bayer, Pfizer, Novartis, Johnson & Johnson, Galderma, Valeant Pharma, GlaxoSmithKline, Vyome Biosciences, and Moberg Pharma. These players have strategic focus on new product development and regulatory apprSovals.

Market Segmentation:

• By Treatment Type 
  • Oral antifungals
  • Topical antifungals 
  • Laser devices
  • Photodynamic therapy
  • Surgical/chemical nail avulsion
  • Others
• By Route of Administration
  • Oral 
  • Topical
  • Injectable
  • Others
• By Distribution Channel
  • Hospitals & Clinics 
  • Dermatology Centers
  • Retail & Online Pharmacies
  • Others
• By Infection Type
  • Distal subungual onychomycosis 
  • White superficial onychomycosis
  • Proximal subungual onychomycosis
  • Candidal onychomycosis
  • Total dystrophic onychomycosis
  • Others
• By Causative Agent 
  • Dermatophytes
  • Non-dermatophyte molds
  • Yeasts
  • Others
• By Regions

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • Israel
  • South Africa
  • North Africa
  • Central Africa
  • Rest of the Middle East

Definition:

"Onychomycosis refers to a fungal infection of the nail caused by dermatophytes, yeasts or non-dermatophyte molds that leads to discoloration, thickening, deformity and separation of the nail from the nail bed. The condition is very common globally, affecting around 10% of the population. The Onychomycosis market consists of approved therapies and those under development for treating nail fungal infections, including oral and topical antifungals, laser devices, photodynamic therapy and surgical avulsion. The market is driven by the rising geriatric population, increasing diabetes prevalence and shift towards combination treatment approaches."