The Latin America, Middle East and Africa Onychomycosis Market would witness market growth of 7.1% CAGR during the forecast period (2022-2028).
The rise in the use of prosthetic devices, broad-spectrum antibiotics, and immunosuppressive and anti-cancer drugs has led to an increase in the frequency of fungus infections. The immune system gradually becomes less effective as people age.
As a result, age-related physical and cognitive changes frequently increase an individual's risk of contracting diseases like onychomycosis. Drugs continue to be the first-line therapeutic option for onychomycosis treatment and hold a significant market share due to a continuously high success rate. Terbinafine, ciclopirox, Penlac, ciclodan, Jublia, Fluconazole, ketoconazole, Sporanox, efinaconazole, griseofulvin, Itraconazole, Kerydin, and others are some of the prominent medications used to treat onychomycosis.
Over the past two decades, invasive fungal infections (IFIs) have become more pathogenic in Latin America. Clinicians and scientists have started to delve deeper into the mechanisms of disease and their connections to susceptible populations as diagnostic tools have advanced. The percentage of patients having an immunosuppressive state (hematopoietic stem cell transplantation [HSCT], HIV, autoimmune diseases) has dramatically increased. As the susceptibility to infection rises in the region, the demand for treatment of those infections would increase significantly. This, in turn, may increase the demand for onychomycosis treatment.
The Brazil market dominated the LAMEA Onychomycosis Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $68.4 Million by 2028. The Argentina market is experiencing a CAGR of 7.6% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 6.8% during (2022 - 2028).
Based on Type, the market is segmented into Distal Subungual, Proximal Subungual, White Superficial and Others. Based on Treatment, the market is segmented into Topical, Oral and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Onychomycosis Market is Projected to reach USD 4.5 Billion by 2028, at a CAGR of 4.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Pfizer, Inc., Teva Pharmaceuticals Industries Ltd., Abbott Laboratories, Bausch Health Companies, Inc., Bayer AG, Cipla Limited, Merck & Co., Inc., Novartis AG, Sun Pharmaceutical Industries Ltd., and GlaxoSmithKline PLC.
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