According to the latest report by IMARC Group, titled “Onychomycosis Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global onychomycosis treatment market reached a value of US$ 2.94 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.12 Billion by 2027, exhibiting at a CAGR of 5.50% during 2022-2027.
Onychomycosis refers to a fungal infection that causes discoloration, thickening, and separation of the nails. It can be treated through medications, laser therapy, and photodynamic therapies. Its treatment is usually given based on the type of fungus causing infection, the number of affected nails, and the severity of nail involvement.
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Onychomycosis is a common nail disorder among senior citizens and athletes caused by organisms, such as dermatophytes, non-dermatophyte molds, and yeasts. This, in confluence with the rising geriatric population, which is highly prone to circulatory disorders and weakened immune system, is strengthening the market growth. Besides this, the increasing number of individuals who use occlusive footwear, shared bathing facilities, and public swimming pools is augmenting the risk of developing onychomycosis and catalyzing the demand for enhanced onychomycosis treatment. In addition to this, the development of water-soluble anti-fungal treatment solutions that can be administered orally is propelling the market growth.
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