Tinea Pedis Treatment Market Overview
Tinea Pedis Treatment Market size is $929.01 million in 2019, and is estimated grow at a CAGR of 3.2% during the forecast period 2020-2025. Tinea pedis is a fungal infection of the foot caused by dermatophyte fungus such as Trichophyton rubrum, Trichophyton mentagrophytes and Epidermophyton floccosum, and is particularly prevalent in hot, tropical, urban environments. The patients with tinea pedis mostly suffer from itchy, intertriginous dermatitis of the toes characterized by maceration, peeling and fissuring. The increase in the incidence of fungal infections, rising awareness and incremental health care expenditure enable the pharmaceuticals to penetrate more into the Tinea Pedis Treatment Market, and thus, driving the development of the industry.
Increasing number of people, specifically, sportsperson suffering from tinea pedis, and thus the need for buying medicines through retail pharmacies and hospitals are propelling the demand of tinea pedis treatment across the world in the upcoming years.
North America dominated the Tinea Pedis Treatment Market, and is estimated to record the fastest growth rate during the forecast period 2020-2025, owing to tactical initiatives by the leading pharmaceutical companies and supportive healthcare policies.
Detailed analysis of the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Tinea Pedis Treatment Market report.
By Disease Type – Segment Analysis
Based on Disease Type, Tinea Pedis Treatment Market is segmented into Interdigital Tinea Pedis, Moccasin Tinea Pedis and Vesicular Tinea Pedis. In 2019, Interdigital Tinea Pedis segment dominated the Tinea Pedis Treatment Market owing to more aggressive clinical representation. Interdigital tinea pedis is the most common form that is caused by T. rubrum, occurs in the fourth and fifth toe web spaces, and sometimes, aggravated to the entire foot. Furthermore, the moccasin tinea pedis segment is anticipated to witness a comparatively higher growth rate during the forecast years 2020-2025 owing to new advancements and innovative products set to drive the market’s growth.
By Route Administration Type – Segment Analysis
Based on Route Administration Type, Tinea Pedis Treatment Market is categorized into Topical and Oral. In 2019, Topical medications dominated the Tinea Pedis Treatment Market owing to widely used treatment like terbinafine spray to treat tinea pedis. Recognized as the primary treatment option for tinea pedis, Topical medications include spray, gel, lotion, powder, and others are extensively practiced as the topical medication. Also, Topical medication is set to be the fastest growing with a CAGR of 4.2% during the forecast period 2020-2025. This is owing to its ease of spread ability over effected area.
Geography – Segment Analysis
In 2019, North America dominated Tinea Pedis Treatment Market in terms of revenue with a market share of 41%, owing towards supportive healthcare policies, the large number of patients, presence of key players and well-established healthcare infrastructure. Asia Pacific is anticipated to register a significant growth over the forecast period 2020-2025 owing to rapidly growing number of patient population with athlete’s foot, large number of retail pharmacies stores, and improving health care infrastructure.
Drivers – Tinea Pedis Treatment Market
High prevalence and rise in incidence rates of tinea pedis
The global tinea pedis treatment market is primarily driven by high prevalence and rise in incidence rates of tinea pedis across the globe. Therefore, Increasing cases of infectious diseases such as bacterial infections, fungal infections and viral infections are encouraging market players to increase their R&D efforts in this field. Simultaneously, a recent trend in the global market for tinea pedis treatment is introduced pertinent to the application of combination therapy for the treatment of foot-related fungal infections, and is anticipated to drive the market’s growth.
Challenges – Tinea Pedis Treatment Market
Lack of awareness of the treatment and Side effects of antifungal drugs
Lack of awareness among the people regarding the treatment of tinea pedis in low developing countries and unavailability of proper medications, along with professional doctors is poised to slow down the growth of the market.
Tinea Pedis Treatment Market Outlook
Product Launches was the key strategy of the players in the Tinea Pedis Treatment Market. Tinea Pedis Treatment Market top 10 companies include Bayer AG, Galderma S.A, GlaxoSmithKline plc, Janssen Pharmaceutica, Bausch Health Company, Teva Pharmaceuticals, Sun Pharmaceuticals, Almirall, Glenmark and Cardinal Health.
In August 2020, Teva Pharmaceuticals collaborated with Douglas Pharmaceuticals America Ltd, Novum Pharmaceutical Research Services and ACM Global Laboratories to observe KETOCONAZOLE cream for treating tinea pedis.
In November, 2018 Sun Pharmaceuticals Ltd has brought Japanese Drug maker Polo Pharma which is engaged in manufacturing, sales and distribution of branded and generic products particularly in Dermatology.