Increasing Prevalence of Dermatophytic Onychomycosis among Geriatric Population Drives Global Dermatophytic Onychomycosis Therapeutics Market

While it may not be a life-threatening condition, dermatophytic onychomycosis constitutes a crucial public health concern due to its high prevalence. Dermatophytic onychomycosis is more common among people belonging to the age group of 60-65 years. Onychomycosis caused by dermatophytes is a fungal infection of nails, which makes them look thickened, opaque, white, and brittle. The global market for dermatophytic onychomycosis therapeutics mainly consists of drugs administered to treat the condition.

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Accurate Diagnosis Considered Essential for Onychomycosis Treatment

Onychomycosis is predominately caused by dermatophyte fungi, but yeasts such as Candida albicans and nondermatophyte molds can also cause the condition. To administer proper treatment, accurate diagnosis of dermatophytic onychomycosis is necessary. Fungal culture tests and direct microscopy can be conducted to diagnose the severity of the condition in patients. Differential diagnosis of this condition includes onychogryphosis, lichen planus, psoriasis, and nail trauma. Despite being compared to dermatophytoses, doctors consider onychomycosis more difficult to treat because of the inherent slow nail growth associated with the latter.

Accurate diagnosis is essential to alert clinicians about the possibility of dermatophytic onychomycosis. This is when direct microscopy and fungal culture come into the picture. Adhering to such appropriate techniques ensures accurate diagnosis and precise treatment. However, while deciding the treatment for dermatophytic onychomycosis, physicians must refer to the patient’s history to differentiate between the fungal and non-fungal etiologies of nail dystrophies.

Research and Development of Novel Therapeutics to Drive Market

Conventional antifungal agents such as griseofulvin and ketoconazole are considered unsuitable for the treatment of onychomycosis because of their potential side effects and poor efficacy. To combat the rising prevalence of onychomycosis, researchers have recently developed antimycotic agents such as terbinafine fluconazole, and itraconazole. These novel therapeutics are known to ensure high cure rates with impressive safety profile. Furthermore, intermittent dosing schedules and the treatment time of less than three months will enhance the treatment compliance and reduce the overall cost of the therapy. Such factors substantially aid the growth of the global dermatophytic onychomycosis therapeutics market.

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North America Dominates Global Dermatophytic Onychomycosis Therapeutics Market

According to a report published by Persistence Market Research, the global market for dermatophytic onychomycosis therapeutics, which stood at US$2.8 bn in 2014, will reach a valuation of more than US$3 bn by the end of 2015. By 2021, the market is expected to reach US$4.7 bn, rising at a CAGR of 7.50% between 2015 and 2021. Regionally, North America dominated the global dermatophytic onychomycosis therapeutics market, accounting for a share of 43.0% in 2014. Europe emerged as the second largest market for dermatophytic onychomycosis therapeutics, holding almost 28.0% of the global market. Between 2015 and 2021, North America is expected to remain the leading regional market, exhibiting the highest CAGR of 9.20%.

Almost 10% of the U.S. population suffers from dermatophytic onychomycosis, which is a crucial factor aiding the expansion of the dermatophytic onychomycosis therapeutics market in North America. Furthermore, the rising geriatric population and increasing per capita healthcare expenditure in North America will create a fertile ground for the penetration of the dermatophytic onychomycosis therapeutics market in the region. The fashion-conscious generation in the leading economies of North America likes maintaining the aesthetic appearance of their nails. This, alongside the growing product innovation, will ensure that the region remains undisputed as the market leader in the near future.

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