Tinea Pedis Treatment Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.38 Billion |
| Market Size (2029) | USD 1.69 Billion |
| CAGR (2024 - 2029) | 4.19 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Tinea Pedis Treatment Market Analysis
The Tinea Pedis Treatment Market size is estimated at USD 1.38 billion in 2024, and is expected to reach USD 1.69 billion by 2029, growing at a CAGR of 4.19% during the forecast period (2024-2029).
During the COVID-19 pandemic, the demand for tinea pedis treatment drugs rose due to increasing concerns about the mortality of patients with COVID-19. Fungal comorbidities in COVID-19 lead to higher mortalities compared to COVID-19 patients without these comorbidities. For instance, according to an article published by Nature Microbiology in August 2022, COVID-19-associated invasive fungal infections were a significant complication in a substantial number of critically ill, hospitalized patients. Hence, the COVID-19 pandemic affected the market significantly in its preliminary phase. However, as the pandemic has currently subsided, the studied market is expected to have stable growth over the forecast period of the study.
The major factor attributing to the growth of the market is the increase in the prevalence of fungal infections. Mycotic diseases are global in distribution, but the maximum cases are recorded from tropical and subtropical countries. As the number of patients increases, the market also grows. Furthermore, the increasing R&D programs and funding for the same are boosting the market growth.
For instance, according to an article updated by NCBI in July 2022, it is estimated that about 10% of the total population is affected by dermatophyte infections of the toe clefts. The most common reason for this is wearing occlusive shoes for long periods. The report also stated that the sharing of washing facilities is likely to increase the chances of infection as the incidence of tinea pedis is observed to be higher among those using community baths, showers, and pools. Tinea pedis is also said to be more common in adult males than in females. In addition to this, the rise in immunocompromised patients is also another factor that is expected to fuel market growth.
Furthermore, the increased R&D activities for the treatment of tinea pedis have been boosted by the rise in the prevalence rate of infectious disorders caused by bacteria, viruses, and fungi, which is driving the market. Around the world, anti-microbial research is gaining traction, and many companies have already initiated R&D activities, which is further expected to boost the growth of the studied market as fungal infections are also part of anti-microbial research activities. For instance, in August 2022, Forbion, announced the USD 70 million financing of F2G Ltd, a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapies to treat life-threatening invasive fungal infections with a high unmet medical need.
Therefore, a rise in the prevalence of tinea pedis and a rise in research and development on fungal treatment, among others, are the factors expected to drive the market growth. However, the lack of awareness of the treatment and stringent approval regulations constrain the market growth.
Tinea Pedis Treatment Market Trends
The Topical Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Topical medications for tinea pedis are generally applied to a particular place in the feet over the skin. The topical segment is expected to have a significant market share during the forecast period due to the advantages of the topical route of administration over other routes and advancements in topical antifungal treatments, among others.
The key benefits of topical administration of tinea pedis treatment include the low risk of systemic adverse events and drug interactions, low cost, and smaller amounts of drugs used, among other factors. For instance, according to an article published by PubMed Central in March 2022, the most common antifungal medicines for topical application from the azole class include derivatives of imidazole, such as clotrimazole. Clotrimazole is a medication that is used to treat tinea pedis. Hence, the availability of such medicines in topical form is expected to boost segment growth.
Furthermore, according to an article published by PubMed Central in August 2022, topical antifungal formulations have many benefits, such as their specific mechanism of action, including their ability to target the site of infection, enhance treatment efficacy, and further reduce the risk of systemic side effects. The proven efficacy of topical formulations, and the positioning in the treatment of fungal skin infections, are further enhanced by high patient compliance, especially when appropriate vehicles such as creams, ointments, and gels are used. Thus, owing to the several advantages of topical antifungal formulations, the topical segment is expected to grow during the forecast period of the study.
Moreover, new developments and clinical trials related to topical tinea pedis formulations by key market players are also enhancing segment growth, as it will lead to the development of advanced products. For instance, in January 2021, DermBiont, a clinical-stage biotechnology company focused on developing targeted topical therapeutics, released its phase 2b clinical trial with its investigational drug product, DBI-001, a topical cream product for the treatment of tinea pedis. This resulted in statistically significant improvements in tinea pedis signs and symptoms. Furthermore, the increasing research on antimicrobial resistance is also expected to increase the development of new and more potent topic antifungal formulations.
Thus, owing to the abovementioned factors, such as the new developments and key market players, increasing research on antimicrobial resistance, and the advantages of topical antifungal formulations, the market segment is expected to show growth over time.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant market share due to robust healthcare infrastructure, high prevalence of tinea pedis, and easy availability of treatments. Within North America, the United States holds a significant share of the tinea pedis market, which is majorly due to the large population suffering from tinea pedis, creating a high demand for novel treatment approaches.
The increasing prevalence of tinea pedis in the United States is a significant factor expected to boost market growth in North America. For instance, according to an article published by PubMed in September 2022, a study was conducted in the United States, which showed that 6,932 patients had tinea pedis among the study population, with an overall prevalence of 2.76%. This may lead to the increased adoption of tinea pedis treatment in the country, which is expected to drive market growth in this region. Moreover, per an article published by The College of Family Physicians of Canada in January 2021, tinea pedis is successfully treated with topical antifungals in 70% to 75% of patients compared to 20% to 30% using a placebo. This will likely lead to an increased demand for topical antifungal treatment for tinea pedis in the region.
In addition, research and development are also being conducted in Canada for the treatment of tinea pedis. For instance, according to the data updated by ClinicalTrials.gov, as of July 2023, three tinea pedis-related clinical trials were conducted in Canada which checked the efficacy of various formulations such as nitric oxide-releasing solution (NORS) for the treatment of tinea pedis. Thus, such clinical trials show that research is being done on tinea pedis in the country, which is expected to boost the development of new and advanced products for treating tinea pedis.
Therefore, the high prevalence of tinea pedia and the rise in research and development of novel medications for tinea pedis, among others, are expected to drive the growth of this market in North America.
Tinea Pedis Treatment Industry Overview
The tinea pedis treatment market is highly competitive and consists of several major players. Some of the key companies in the market are GlaxoSmithKline PLC, Bausch Health, Glenmark Pharmaceuticals, Bayer AG, Sanofi, Sun Pharma, and Teva Pharmaceutical, among others.
Tinea Pedis Treatment Market Leaders
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Bayer AG
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Sun Pharmaceutical Industries Ltd
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Glenmark Pharmaceuticals Limited
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GlaxoSmithKline PLC
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Bausch Health Companies Inc.
*Disclaimer: Major Players sorted in no particular order
Tinea Pedis Treatment Market News
- In June 2023, A research team led by Kelvin Yeung from the Department of Orthopaedics and Traumatology, School of Clinical Medicine, LKS Faculty of Medicine, the University of Hong Kong (HKUMed) has designed a new microneedle patch that provides an effective non-antibiotic approach for the treatment of skin infections including tinea pedis.
- In June 2022, Kerasal launched a new Athlete's Foot product line, which features a unique formula with 5-in-1 benefits to help treat and heal most athletes' foot (tinea pedis), improve skin appearance and support a healthy footcare routine.
Tinea Pedis Treatment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Fungal Infections
4.2.2 Rising Geriatric Population Around the World
4.3 Market Restraints
4.3.1 Lack of Awareness of Effective Treatment and Stringent Approval Regulations
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Route of Administration
5.1.1 Oral
5.1.2 Topical
5.2 By Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.2.3 E-commerce
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 GlaxoSmithKline PLC
6.1.2 Bausch Health Companies Inc.
6.1.3 Glenmark Pharmaceuticals Limited
6.1.4 Bayer AG
6.1.5 Sun Pharmaceutical Industries Ltd
6.1.6 Sebela Pharmaceuticals Holdings Inc.
6.1.7 Teva Pharamceutical Industries Limited
6.1.8 Amneal Pharmaceuticals Inc.
6.1.9 Viatris Inc.
6.1.10 Pfizer Inc.
6.1.11 Advantice Health (Kerasal)
6.1.12 Abigail Healthcare Pharmaceutical
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Tinea Pedis Treatment Industry Segmentation
As per the scope of the report, tinea pedis (athlete's foot) is a fungal infection that usually begins between the toes. It commonly arises in people whose feet have become very sweaty while restricted within tight-fitting shoes. Tinea pedis is characterized by patchy, dry scaling on the feet and blisters or pustules on the feet and between the toes. The tinea pedis treatment market is segmented by route of administration, distribution channel, and geography. Based on route of administration the market is segmented as oral and topical. Based on distribution channels the market is segmented as hospital pharmacies, retail pharmacies, and e-commerce. Based on geography the market is segmented as North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across the major regions globally. The report offers the value (in USD) for the above segments.
| By Route of Administration | |
| Oral | |
| Topical |
| By Distribution Channel | |
| Hospital Pharmacies | |
| Retail Pharmacies | |
| E-commerce |
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Tinea Pedis Treatment Market Research FAQs
How big is the Tinea Pedis Treatment Market?
The Tinea Pedis Treatment Market size is expected to reach USD 1.38 billion in 2024 and grow at a CAGR of 4.19% to reach USD 1.69 billion by 2029.
What is the current Tinea Pedis Treatment Market size?
In 2024, the Tinea Pedis Treatment Market size is expected to reach USD 1.38 billion.
Who are the key players in Tinea Pedis Treatment Market?
Bayer AG, Sun Pharmaceutical Industries Ltd, Glenmark Pharmaceuticals Limited, GlaxoSmithKline PLC and Bausch Health Companies Inc. are the major companies operating in the Tinea Pedis Treatment Market.
Which is the fastest growing region in Tinea Pedis Treatment Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Tinea Pedis Treatment Market?
In 2024, the North America accounts for the largest market share in Tinea Pedis Treatment Market.
What years does this Tinea Pedis Treatment Market cover, and what was the market size in 2023?
In 2023, the Tinea Pedis Treatment Market size was estimated at USD 1.32 billion. The report covers the Tinea Pedis Treatment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Tinea Pedis Treatment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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