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| Global Athlete's Foot Market |
The Global Athlete’s Foot Market Trends
which comprises treatments for athlete's foot or tinea pedis, a fungal
infection of the feet, is an important segment in the healthcare industry.
Athlete’s foot is caused by fungi that thrive in warm, moist environments like
areas between the toes. Its symptoms include itching, burning, cracking,
scaling or peeling of the skin. Products to treat athlete's foot include
creams, spray, powder and drops containing anti-fungal ingredients like
clotrimazole and miconazole which combat the causative fungi. The market demand
is rising with growing health awareness and self-care practices for minor skin
conditions.
The Global Athlete’s Foot Market is estimated
to be valued at US$ 1.41 BN in 2024
and is expected to exhibit a CAGR of 4.8%
over the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the Global Athlete’s Foot Market are Perrigo Company
Plc., Novartis AG, Valeant Pharmaceuticals International, GlaxoSmithKline plc,
Bayer AG, Teva Pharmaceuticals Industries Ltd., Mylan NV, Glenmark
Pharmaceutical Ltd, Taro Pharmaceutical Industries Ltd., Camber Pharmaceuticals
Inc, Aurobindo Pharma Ltd. Perrigo Company Plc and Novartis AG held significant
market share in 2023.
The growing demand for over-the-counter anti-fungal medications for treating
minor skin issues like Global
Athlete's Foot Market Size at home without medical consultation is
driving market growth. Self-diagnosis and treatment are becoming increasingly
popular.
Major market players are expanding their geographical presence by entering
developing markets in Asia Pacific, Latin America, Middle East and Africa where
the awareness about athlete's foot and demand for treatment options is on the
rise with improvements in living standards and disposable incomes.
Market key trends
Combination therapies where an anti-fungal medication is combined with other
active ingredients like keratolytics that remove dead skin cells and enhance
penetration of the drug are gaining traction in the athlete's foot treatment
market. For example, Lotrimin Ultra by Bayer combines clotrimazole with
salicylic acid. These multi-functional products provide faster and better
relief from symptoms.
Porter’s Analysis
Threat of new entrants: Low as there are high costs and time involved in
penetrating such an established market.
Bargaining
power of buyers: Moderate as there are many established brands for buyers to
choose from.
Bargaining
power of suppliers: Moderate as a few large international players supply
various Active Pharmaceutical Ingredients (APIs) required in athlete's foot
drugs and treatments.
Threat of
new substitutes: Low as there are limited options available to treat athlete's
foot effectively.
Competitive
rivalry: Intense as the major players compete on the basis of quality, innovation,
cost and brand image.
Geographical Regions
North America is currently the largest market for athlete's foot in terms of
value given the high prevalence of fungal infections in the region owing to
factors such as rising pollution levels, changing climatic conditions and busy
lifestyles facilitating transmission. The United States accounts for the
majority share within the North American athlete's foot market.
China is expected to witness the fastest growth over the forecast period
supported by increasing affordability, growing health awareness and expanding
healthcare infrastructure in the country. Rising incidents of sweat-induced
athlete's foot among the large young population is further driving market
growth.
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