Increasing research and development activities to design effective antifungal products are expected to drive new growth opportunities in the Tinea pedis treatment market during the forecast period 2020-2025. Tinea Pedis Treatment Market size is $929.01m in 2019, and is estimated grow at a CAGR of 3.2% during the forecast period 2020-2025.
The Tinea pedis treatment market is growing exponentially as the major market players, like Bayer AG and Galderma S.A are developing therapeutic advancements, such as gel, creams, spray, lotions, powders, and many improved versions based on the type of disease. Through clinical research thus far, major pharmaceuticals may provide significant breakthroughs in antifungal therapy, therefore, offering effectual treatment solutions with less frequent dosing than other available drugs in the market. Several new techniques and diagnosis, confirmed by laboratory-based evaluation offer effectual treatment to the patients, such as interdigital tinea pedis can be treated with a topical antifungal, and patients with moccasin and vesicular tinea pedis, may need oral antifungal treatment. Furthermore, Skin scrapings for fungal microscopy are another treatment recommended when topical treatment gets ineffective.
Tinea Pedis is a fungal foot infection that is common but often untreated due to high rates of treatment failure. In fact, inadequate knowledge of antifungal treatment makes the disease more prevalent. The clinical symptoms include primarily patchy, dry flaking skin over the foot, and blisters and pustules between the toes. Despite the relentlessly increasing issue of tinea pedis across the world, and specifically, in tropics, clinical research in this area has been ignored.
Key players from Pharmaceuticals and Healthcare are investing on comprehensive research treatment for clinical development, and offer effective topical and oral antifungal treatment in patients with more severe infections, including Interdigital Tinea Pedis, Moccasin and Vesicular Tinea Pedis. Several leading pharmaceuticals in North America, Europe and Asia introduce topical antifungals that are used for novel delivery mechanisms, such as Exelderm an effective antifungal agent available both as a cream and solution. In addition to that Pharmacists and healthcare professionals, mostly recommend over-the-counter (OTC) treatments to patients that are practiced early in the infection. As signs and symptoms vary according to the type of tinea pedis, Canestan Anti-Fungal, another major Athlete’s Foot Cream has also proven to be effective, formulated for the treatment, which contains a broad-spectrum anti-fungal agent with activity against the dermatophytes.
North America dominated the global market share of Tinea pedis Treatment Market in 2019, owing to underdiagnosis, under coding and rapidly growing number of patient populations with athlete’s foot. The global market for tinea pedis care lacks effective and accepted medications that can remove the side effects of foot fungal infections. The inept treatment for tinea pedis may hinder the market. According to Centers for Disease Control and Prevention, there were approximately 75,000 hospitalizations and nearly 9 million outpatient visits for fungal diseases in 2017 in the U.S. In Canada, to treat superficial fungal infections caused by dermatophytes, there are various oral and topical antifungal agents are available such as terbinafine, itraconazole, and fluconazole, which is very common in the market, although for more severe or recalcitrant infections in general. However, it is pertinent to note that severe side effects of antifungal medications, like liver damage, allergic skin reactions and increased resistance to fungi, are likely to restrict the global market for the treatment of the tinea pedis. All these factors are set to avail new growth opportunities to the Tinea pedis treatment market in the region during 2020-2025.
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Tinea pedis treatment Market Growth Drivers:
- High prevalence and rise in incidence rates of tinea pedis
The dermatophytes that cause tinea pedis to grow get accelerated in a moist, damp environment, and grow under humid conditions, and thus, in the humid areas, people are at a greater risk of acquiring the infection. Unfortunately, the fungal infection can survive for extended periods, and gets contagious through changing rooms, bathrooms and around swimming pools. Furthermore, people who are more at risk, include those who are considered ‘immunocompromised’, who sweat profusely (hyperhidrosis), have diabetes and poor peripheral circulation. Governments across several regions have developed robust measures, such as practical advice to follow, and thus, prevent the prevalence of tinea pedis which propelled the awareness and demand of proper treatment within the Tinea Pedis global market. Despite the restriction, deep measures and aforementioned drivers of therapeutic medicine demand, a number of regions are still far from articulating clinical ways to treat and eliminate fungal infections. The pathogenesis of dermatophyte infection cannot affect all people who are equally susceptible to tinea pedis, even when they have common risk factors.
Increased funding for antifungal research
The quest of certain countries to eliminate the severity of fungal and microbial diseases has influenced the demand across the global market for tinea pedis. Some financial assistance institutes, like Generating Antibiotics Incentives, helps research institutes to indulge in antifungal drug research. Nevertheless, the research and development programs attempted by the Tinea Pedis Clinical Development are expected to bring more promising treatment, and present valuable insight to trickle down to the developing countries that are expected to generate demand in these specific regions.
Growing medical cases pertinent to derma infection, such as fungal infections, bacterial infections and viral infections are triggering market players to strengthen their R&D efforts in this field. Government and non-governmental organizations are providing financial assistance in the development of antifungal drugs because drug production is a cost-intensive practice. Therefore, Institutions such as Qualified Infectious Disease offer support for the designing of novel antifungal drugs, such funding helps research institutes and pharmaceuticals to invest in antifungal drug research, contributing to market growth. For example, the combination of topical and systemic medication and surgery is sometimes practiced in treating patients, along with ‘Non-pharmacological treatments’, such as laser therapy are introduced with topical and systemic therapy for complete treatment procedure.
The Major Players in this Market Include
The major companies in the Tinea Pedis Treatment market include Bayer AG, Galderma S.A, GlaxoSmithKline plc, Janssen Pharmaceutica, Bausch Health Company, Teva Pharmaceuticals, Sun Pharmaceuticals, Almirall, Glenmark and Cardinal Health. These major players are developing therapies for the treatment of Tinea Pedis with aggregate therapies developed in reference to the targeted therapeutics development with respective types of tinea pedis disease. The continuous developments in the Tinea Pedis Market such as introducing clinical measures, increasing funding amount of startups and research organizations and surge in number of medicinal product and therapy approvals by US FDA are the major factors set to drive the Tinea Pedis market growth during the forecast period 2020-2025.
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