Global Ringworm Treatment Market Insights Forecasts to 2032

• The Global Ringworm Treatment Market Size was valued at USD 13.9 Billion in 2022.
• The Market is growing at a CAGR of 4.36% from 2022 to 2032.
• The Worldwide Global Ringworm Treatment Market size is expected to reach USD 21.3 Billion by 2032.
• Asia Pacific is expected to grow the fastest during the forecast period.

 

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The Global Ringworm Treatment Market Size is expected to reach USD 21.3 Billion by 2032, at a CAGR of 4.36% during the forecast period 2022 to 2032.

 

Market Overview

Ringworm is a common skin fungal illness. Ringworm is medically known as tinea. Dermatophytes, which are skin fungus, cause the infection. Ringworm infection can create scaly, red, and round patches of skin. It can also cause spot hair loss, inflammation, blisters, and scalp scaling. The infection can extend to the skin of the scalp, foot, beard, and crotch. Ringworm is very infectious and may be spread by animals. Certain antifungal and over-the-counter drugs can effectively treat the illness.

 

Report Coverage

This research report categorizes the global ringworm treatment market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global ringworm treatment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global ringworm treatment market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.

 

Driving Factors

The availability of over-the-counter medications for fungal infections and increased knowledge of ringworm infections and their symptoms contributed to market expansion. Furthermore, public education efforts and healthcare measures have made people more aware of the early indicators of ringworm, pushing them to seek treatment as soon as possible. This increased understanding has not only benefited patient outcomes but has also helped to market expansion overall. Furthermore, advances in medical research and technology have created novel and more effective antifungal medications, boosting the market size.

 

Restraining Factors

Drug resistance to conventional antifungal drugs may hinder market expansion. The extensive and often incorrect use of antifungal medications has resulted in the creation of drug-resistant types of fungus responsible for ringworm infections. As these resistant strains develop, standard antifungal drugs become less effective, resulting in treatment failures. This may have a detrimental influence on the sales of some medications used to treat ringworm infections.

 

Market Segmentation

• In 2022, the antifungals segment is dominating the largest market share over the forecast period.

Based on drug class, the global ringworm treatment market is bifurcated into different segments such as steroids, antifungals, anti-infectives, & others. Among these segments, the antifungals segment is expected to have significant development potential during the forecast period. Antifungal drugs are critical in eliminating ringworm infection, relieving symptoms, and preventing its spread. The large market share of antifungals may be due to the continual development of sophisticated and new formulations that cater to a wide range of patient demands, as well as their proven effectiveness and safety profiles. Furthermore, rising awareness among healthcare professionals and patients about the necessity of prompt and proper ringworm treatment is projected to drive up demand for antifungal medications.

 

• In 2022,  the topical segment is influencing the market with the largest market share during the forecast period.

Based on the route of administration, the global ringworm treatment market is segmented into various types such as topical and oral. Among these segments, the topical segment is dominating the market with the largest revenue share during the forecast period due to the significant acceptance of topical creams and ointments for the treatment of ringworm infections can be due to their very successful nature in fighting ringworm infections. Additionally, the simplicity of administration and user-friendliness of topical creams have gained universal support among both healthcare professionals and consumers. Furthermore, the non-invasive nature and low side effects of topical formulations have earned the trust and confidence of patients looking for dependable treatment. Furthermore, pharmaceutical companies ongoing attempts to discover and market innovative, strong topical therapies for ringworm infections are projected to contribute to significant segmental income.

 

• In 2022, the tinea corporis segment is dominating the market with the largest market share during the forecast period.

Based on type, the global ringworm treatment market is segmented into various types such as tinea corporis, tinea pedis, tinea cruris, tinea capitis, tinea manuum, & others. Among these segments, the tinea corporis segment is dominating the market with the largest revenue share during the forecast period due to the high prevalence of tinea corporis due to its ease of transmission in close-contact conditions, resulting in red, itchy, and circular rashes on the skin. Because of the increased popularity of sports and fitness activities, more individuals are sharing equipment and clothing, which might be a possible carrier of the fungus.

 

• In 2022, the 35 - 50 years segment is influencing the market with the largest market share during the forecast period.

Based on the age group, the ringworm treatment market is segmented into various types such as below 18 years, 18 - 35 years, 35 - 50 years, 50 years, and above. Among these segments, the 35 - 50 years segment is dominating the market with the largest revenue share during the forecast period due to their considerable exposure to probable sources of ringworm-causing fungus, such as outdoor activities, fitness centers, and public swimming pools. Furthermore, the immune system weakens with age, making this age group more susceptible to fungal infections. Certain medical disorders, such as diabetes and obesity, which are becoming more common at this age, might impair the body's capacity to protect itself against infections. Furthermore, lifestyle variables such as excessive perspiration and poor hygiene habits are key contributors to an increased risk of ringworm infection in this age range. The aforementioned elements are projected to fuel segment growth.

 

• In 2022, the hospital pharmacies segment is dominating the market with the largest market share during the forecast period.

Based on the distribution channel, the global ringworm treatment market is segmented into various types such as hospital pharmacies, retail pharmacies, and online pharmacies. Among these segments, the hospital pharmacies segment is dominating the market with the largest revenue share during the forecast period due to hospital pharmacies providing a one-stop solution for patients, giving fast access to necessary pharmaceuticals recommended by healthcare specialists. In addition, hospitals frequently profit from bulk purchasing, which allows them to negotiate favorable prices with pharmaceutical suppliers, resulting in cost reductions for patients. Furthermore, the presence of highly qualified pharmacists in hospital settings promotes correct dispensing and individualized advice, thus enhancing hospital pharmacies in the market.

 

Regional Segment Analysis of the ringworm treatment market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America led the market with the largest market share during the forecast period

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North America is influencing significant market growth over the forecast period due to North America having a solid healthcare system, modern medical facilities, and a high degree of general knowledge about the necessity of obtaining prompt treatment for skin disorders. Furthermore, the existence of various pharmaceutical and biotechnology businesses actively involved in creating novel and effective therapies boosts regional market growth. Furthermore, the region's aggressive commitment to public health education and awareness campaigns has played a critical role in early diagnosis and quick treatment, expanding its market share even further.

 

Asia Pacific is expected to experience high revenue market growth during the forecast period owing to the increasing frequency of patients suffering from fungal illnesses and infections, important manufacturers increased R&D activity, an increase in hospital-related infections, government backing, and other factors.

 

Competitive Analysis

The report offers the appropriate analysis of the key organizations/companies involved within the global ringworm treatment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Perrigo Company plc
• Novartis AG
• GlaxoSmithKline Plc
• Teva Pharmaceuticals, Inc.
• Taro Pharmaceutical Industries Ltd.
• Glenmark Pharmaceuticals Inc.
• Avik Pharma
• Actiza Pharmaceutical
• Chempro Group India
• Merck & Co., Inc.

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Development

• In May 2022, Bayer introduced the new and enhanced Canesten antifungal treatment solution in India. Canesten cream, among other fungal skin illnesses, relieves ringworm, jock itch, skin candidiasis, athlete's foot, erythrasma, and fungal nail infection. This enabled the organization to serve a bigger consumer base and grow its income.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Ringworm Treatment Market based on the below-mentioned segments:

 

Global Ringworm Treatment Market, By Drug Class

• Steroids
• Antifungals
• Anti-infective
• Others

 

Global Ringworm Treatment Market, By Type

• Tinea Corporis
• Tinea Pedis
• Tinea Cruris
• Tinea Capitis
• Tinea Manuum
• Other

 

Global Ringworm Treatment Market, By Age

• Below 18 years

• 18 - 35 years
• 35 - 50 years
• 50 years and above

 

Global Ringworm Treatment Market, By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

 

Ringworm Treatment Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa