According to the recent research report titled ‘Onychomycosis Treatment Market Size By Test (Distal Subungual Onychomycosis (DSO), White Superficial Onychomycosis (WSO), Proximal Subungual Onychomycosis (PSO), Candida Onychomycosis), By Treatment Type (Drug Treatment, Topical Therapy), By Drug Class (Allylamine, Azole, Griseofulvin), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online pharmacies), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global onychomycosis treatment market is projected to observe considerable growth over 2021-2027.
 

Global onychomycosis treatment market growth is mainly driven by surging demand and rising emphasis on the development of effective treatment methods for the ailment. Besides, increased risk factor among the expanding diabetic and elderly population is adding to the industry growth.
 

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For the unversed, onychomycosis is a fungal infection of the nail that is caused by specific bacteria. Oral medicines have proven to be difficult to treat onychomycosis with longitudinal spikes in the nail. Thus, researchers are looking into alternative therapy options for the ailment.
 

Citing an instance, researchers showed that a 10% efinaconazole solution might be used as a first-line medication for treating longitudinal spikes associated with onychomycosis, as per a study published in The Journal of Dermatology in July 2021. As a result, increased research efforts aimed at determining the best therapeutic approaches have had a positive impact on the market.
 

Based on test type, white superficial onychomycosis segment accounted for roughly 13.9% of worldwide onychomycosis treatment industry share in 2020 and is expected to continue growing steadily over 2021-2027.
 

As per treatment type, topical therapy segment held about 40% of market share in 2020 and is expected to rise significantly through 2027, owing to availability of numerous topical remedies.
 

With respect to drug class, azoles segment accounted for over 17% of the market share in 2020 and is expected to expand at a strong rate in the coming years, creditable to rising public knowledge about the benefits of azole medicines.
 

Coming to distribution channel, online pharmacy segment added a value of over USD 462 million to global onychomycosis treatment industry in 2020 and is predicted to grow at a significant CAGR during the assessment period. Rising trend of buying medicines from online pharmacies is expected to drive the segment growth in the coming years.
 

Geographically, Latin American market was worth around USD 120 million in 2020 and will likely capture a significant revenue share over the forecast timeframe, on account of improving healthcare infrastructure across the region.
 

Elaborating on competitive landscape, Taro Pharmaceuticals Industries Ltd., GlaxoSmithKline plc, Johnson & Johnson Services Inc., Kaken Pharmaceutical Co. Ltd., Merz Pharma GmbH & Co. KGaA, Medimetriks Pharmaceuticals Inc., and Dr. Reddy's Laboratories Ltd. are among the top companies powering the overall market trend.