The global dermatophytic onychomycosis treatment market size is predicted to reach USD 6.63 billion by 2027, exhibiting a CAGR of 7.4% during the forecast period. The rising prevalence of diabetes and incidences of chronic nail fungus infection will lead to heavy demand for dermatophytic onychomycosis treatment, which, in turn, will foster the growth of the market, it is mentioned in a report, titled “Dermatophytic Onychomycosis Treatment Market Size, Share & COVID-19 Impact Analysis, By Product Type (Tablets and Nail Paints), By Route of Administration (Oral and Topical), By Type (Prescribed and Over-the-Counter (OTC)), By Distribution Channel (Hospitals & Clinics, Retail Pharmacies, and Online Channels), and Regional Forecast, 2020-2027” the market size stood at USD 3.74 billion in 2019.
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Emergence of Topical Treatment Solutions to Augment Growth
The growing cases of liver damage in patients will lead to a high demand for the market in the near future. According to a survey conducted on dermatologists and podiatrists in the U.S. by Moberg Pharma AB in 2017, 7 out of 10 doctors avoid prescribing oral terbinafine owing to the risk of liver damage. The innovation and development of topical treatment solutions and oral anti-fungal drugs associated with liver damage will subsequently enable speedy expansion of the market. The rising need for improved topical solutions will impel dermatologists and podiatrists to present new theories for drug enhancement, which, in turn, will augur well for the market. Moreover, the increasing adoption of nail lacquers will consequently create new opportunities for the market during the forecast period. In addition, the increasing spending on R&D activities by major players will have a tremendous impact on the market in the foreseeable future.
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