Clotrimazole Market - Forecast(2023 - 2028)

Report Code: HCR 1508 Report Format: PDF + Excel

Clotrimazole Market Overview

Clotrimazole Market Size is estimated to reach $3.7 billion by 2027 and it is poised to grow at a CAGR of 6.2% over the forecast period of 2022-2027. Clotrimazole belongs to the chemical family of azole derivatives and was primarily invented as an antifungal cream. Owing to the drug’s unremarkable side effects and uncomplicated metabolic profile, the drug gained traction across the globe for treatments pertinent to mycotic outbreaks such as vaginal yeast infections, athlete’s foot and otomycosis. Some of the commonly prescribed forms of medicine are clotrimazole cream ip 1 w/w/ and clotrimazole cream ip 2 w/w/. The composition of clotrimazole underwent various transformations and adaptations, some of which are known as Desenex, Lotrimin AF Antifungal Cream and Lamisil. The medicinal utility allowed WHO to place the product/composition in the essential medicines list. The clotrimazole drug has been undergoing specific research-related activities, making it popular for its applications in sickle cell disease, malaria, cancer and others. Due to these reasons, the Clotrimazole industry is positioned favorably in the forecast period of 2022-2027.

Clotrimazole Market Report Coverage

The report: Clotrimazole Market Forecast (2022-2027)" by IndustryARC, covers an in-depth analysis of the following segments in the Clotrimazole Market.

By Types: Suppository, Tablet, Cream, Powder and Others.
By Application: Vaginitis, Otomycosis, Paronychia, Tinea of Feet and Hands and Others.
By Sales Channel: Hospital Pharmacies, Drug Store & Retail Pharmacy, Online Pharmacies and Others.
By Geography: North America (the U.S., Canada and Mexico), Europe (Germany, the UK, France, Italy, Spain, Russia and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia and New Zealand and the Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

  • Geographically, North America held a dominant market share in 2021. It is owing to a sizable prevalence of various diseases such as vaginitis and athlete’s foot along with a well-developed healthcare infrastructure. However, Asia-Pacific is estimated to offer lucrative growth opportunities in the forecast period owing to the increasing awareness about various diseases, supplemented by digital health.
  • The rising prevalence of common disease applications of clotrimazole and research activities to explore other application areas act as key drivers. However, side effects of the medications and the sizable presence of substitutes may hamper the market growth.
  • A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Clotrimazole Market Report.

Clotrimazole Market - by Market Share (%), 2021.

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Clotrimazole Market- By Type

Clotrimazole Market based on type can be further segmented into Tablet, Cream, Powder, Spray and Others. The cream segment dominated the market in 2021. It is owing to the vast convenience of the product. Furthermore, cream as a topical agent has been trusted by doctors and patients alike owing to its sticking capacity to the skin surfaces. The cream form of clotrimazole is mostly prescribed to patients suffering from vaginitis which affects nearly 23%-29% globally. However, the Spray segment is estimated to be the fastest-growing, with a CAGR of 7.6% over the forecast period of 2022-2027. It is due to a wider reach of this form in cases of athlete’s foot and others. Also, due to OTC norms - manufacturers are trying to innovate their products in the marketplace.

Clotrimazole Market - By Sales Channel

Clotrimazole Market based on sales channels can be further segmented into Hospital Pharmacies, Drug stores & Retail Pharmacies, Online Pharmacies and Others. Drugs Stores and Retail Pharmacies held a dominant market share in 2021. These medicines can be sold via both prescription and OTC platforms, thereby, patients/consumers have a strong choice to buy them at their convenience. Hence, drug stores and retail pharmacies are preferred. As per Commonwealth Fund, 2021, nearly 60,000 retail pharmacies were present in the U.S., with nearly most of them in highly populated areas. However, Online Pharmacies are estimated to be the fastest-growing segment, with a CAGR of 7.8% over the forecast period of 2022-2027. It is owing to the rising digital health-check up and digital prescriptions that would allow patients to order medicines at lucrative discounts and convenience.

Clotrimazole Market- By Geography

Clotrimazole Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America held a dominant market share of 33% in 2021. It is due to a high prevalence of various diseases that can be controlled with the application of clotrimazole. As per Science Direct findings, it is estimated that more than 70% of the U.S. population would develop tinea pedis/athlete foot during their lifetime. However, Asia-Pacific is estimated to be the fastest-growing region, with a CAGR over the forecast period of 2022-2027. It is because of the growing role of digital/telehealth platforms in semi-urban societies such as India which would proliferate the demand for medicines, such as Clotrimazole.

Clotrimazole Market Drivers

The Increasing Prevalence of Diseases such as Vaginitis, Athlete’s Foot and Others:

Bacterial vaginosis or vaginitis has been revered as the most common cause of vaginal symptoms amongst women as per the CDC. The prevalence of the following condition in the U.S. is gauged to be 21.2 million or 29.2% amongst women aged 14-49. Furthermore, CDC estimates that the increasing number of cases is largely correlated with the rising number of sexual partners in a lifetime. As per the National Center of Health Statistics, the median number of opposite-sex partners in a lifetime for women stood at 4.3. Lastly, the African-American population’s prevalence of the following condition is sizable, larger than white women. Owing to a critical growth in the mentioned ethnicity in the region - the market would grow during the forecast period.

The Growing Application of Clotrimazole in Other Forms of Disease Treatment:

Clotrimazole was initially approved for the treatment of fungal applications. However, a body of research indicated the probable usage of the drug as an anticancer therapeutic. The mechanism of action is based on the inhibition of mitochondrial-bound glycolytic enzymes and calmodulin, which starves cancer cells of energy. Clotrimazole and its derivatives have been shown to decrease rates of cancer cell proliferation, induce G1 phase arrest and promote pro-apoptotic factors, which lead to cell death. As per Cancer.Org 2021, the estimated number of new cancer cases within the U.S. would be equivalent to 1.9 million. Furthermore, clotrimazole is extremely useful in cases of dermatitis. The worldwide prevalence of seborrheic dermatitis is around 5%. Due to these reasons - the market would offer steadfast opportunities.

Clotrimazole Market Challenges

The Sizable Number of Side Effects and the Availability of a Larger Number of Substitutes in the Segment:

As per Mayo Clinic, blurred vision, dizziness or fainting, fast and irregular heartbeat pounding, increased thirst and urination and unusual tiredness are some of the common side effects of consuming Clotrimazole. The common alternatives to clotrimazole cream are fluconazole and Diflucan. Moreover, these alternatives present a different delivery route, thereby expanding the applicative usage. For example, fluconazole is either provided through an intravenous solution or oral powder and tablet, while Diflucan is largely provided in oral powder and solution. The per-unit cost of fluconazole is nearly equal to Clotrimazole, which is $1.35 vs $1.25.

Clotrimazole Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Clotrimazole market. The top 10 companies in the Clotrimazole market are:

  1. Bayer AG
  2. Erregierre SPA
  3. F.I.S.
  4. Amoli Organics
  5. Corden Pharma
  6. Ciron Group
  7. INFA Group
  8.  Manus Akkteva
  9. Guangzhou Hanpu
  10. Jiangsu Yunyang

Recent Developments

  • In March 2022, Research provided for the higher efficacy of Clotrimazole to inhibit HCC Migration and Invasion by Modulating the ERK-p65 signaling pathway.  Hepatocellular carcinoma (HCC) has a very high mortality rate and is the most common type of liver cancer. Clotrimazole, a traditional antifungal drug, has garnered considerable attention as a therapeutic strategy for HCC.
  • In May 2022, Bayer relaunched its anti-fungal cream brand Canesten or Clotrimazole-based cream in India. The product is branded as a new and improved version and would be made available in powder and cream formats.
  • In August 2022, Lipid-based nanocarriers such as liposomes, solid lipid nanoparticles and nanostructured lipid carriers have been studied best for antifungal drug delivery compared to other nanocarriers. Due to promising results, Clotrimazole and other antifungal creams are expected to uplift the drug delivery mechanism.

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1. Clotrimazole Market - Overview
    1.1 Definitions and Scope
2. Clotrimazole Market - Executive Summary
3. Clotrimazole Market - Comparative Analysis
    3.1 Company Benchmarking - Key Companies
    3.2 Global Financial Analysis - Key Companies
    3.3 Market Share Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Clotrimazole Market - Start-up Companies Scenario Premium
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Clotrimazole Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Clotrimazole Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porter's Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
7. Clotrimazole Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Clotrimazole Market – by Types
    8.1 Suppository
    8.2 Tablet
    8.3 Cream
    8.4 Powder
    8.5 Spray
    8.6 Others
9. Clotrimazole Market – by Application
    9.1 Vaginitis
    9.2 Otomycosis
    9.3 Paronychia
    9.4 Tinea of Feet and Hands
    9.5 Others
10. Clotrimazole Market – by Sales Channel
    10.1 Hospital Pharmacies
    10.2 Drug Store and Retail Pharmacy
    10.3 Online Pharmacies
    10.4 Others
11. Clotrimazole Market - by Geography
    11.1 North America
        11.1.1 The US
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 The UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 The Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 The Rest of Asia-Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 The Rest of South America
    11.5 The Rest of the World
        11.5.1 The Middle East
        11.5.2 Africa
12. Clotrimazole Market - Entropy
13. Clotrimazole Market – Industry/Segment Competition Landscape Premium 
    13.1 Market Share Analysis
        13.1.1 Market Share by Region – Key companies
        13.1.2 Market Share by Countries – Key Companies
    13.2 Competition Matrix
    13.3 Best Practices for Companies
14. Clotrimazole Market – Key Company List by Country Premium Premium
15. Clotrimazole Market - Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
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