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Global Tinea Corporis Treatment Market to Witness a Steady Growth During 2021-2026, Aided by the Growing Antifungal Drugs Market

According to a new report by EMR titled, ‘Global Tinea Corporis Treatment Market Report and Forecast 2021-2026’, the market is being supported by the expanding antifungal drugs market, which attained a value of around USD 16 billion in 2020. The antifungal drugs industry is further expected to grow at a CAGR of 3% between 2021 and 2026 to reach USD 19 billion by 2026.

The tinea corporis treatment industry is being driven by the improving healthcare facilities and the increasing awareness regarding the treatment of fungal diseases. There is a significant demand for treatment procedures among patients. Another factor driving the market is the development of more and more specific treatment options for different types of infections. Moreover, the prevalence of combination therapies has accelerated the growth of the market as a whole. Furthermore, the over-the-counter availability of these treatment options is a key factor ensuring the expansion of the industry. Additionally, the age of social media and digital marketing is helping the market flourish by spreading awareness regarding various treatment options.

The growing investments by the key players operating in the pharmaceutical industry, such as GlaxoSmithKline plc (NYSE: GSK) and Glenmark, are expected to aid the market growth. For instance, in October 2019, Astellas Pharma Inc. announced that the company had invested around USD 13 million to fund an American startup that deals with innovation in gene and cell therapy. Furthermore, in January 2020, FDA approved Astellas’s supplemental New Drug Application (sNDA) for MYCAMINE, which made the treatment of Candidemia possible. Such developments are expected to have a positive influence on the market growth over the forecast period.

Market Analysis by Drug Class, Route of Administration, Distribution Channel, and Region:

  • The market on the basis of drug class can be divided into antifungal, steroids, anti-infectives, and others. 
  • Based on route of administration, the industry can be divided into topical and oral. 
  • The market is divided based on distribution channel into drug stores, hospital pharmacies, online, and others. 
  • The regional markets for tinea corporis treatment include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

Key Findings of the Report:

  • The rising number of fungal diseases globally can prove to be a major driver for the market.
  • Companies turning their focus towards R&D is a positive sign for the market.
  • The increasing awareness about skin diseases can play a pivotal role in the success of the industry.
  • The liberal FDI policies in developing countries are expected to provide significant growth opportunities to the big pharmaceutical firms.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for tinea corporis treatment  for the periods (2016-2020) and (2021-2026). 
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the drug class, route of administration, distribution channels, and regions of tinea corporis treatment. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global tinea corporis treatment market are GlaxoSmithKline plc, Glenmark Pharmaceuticals Limited, Bayer AG, Taro Pharmaceutical Industries Ltd., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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