The global athlete's foot market
comprises topical drugs and moisturizers used for treating fungal infections
caused by dermatophytes, commonly known as ringworm infection of the feet. The
infectious fungi penetrate the outer layer of the skin, multiply, and cause
scaling, itching, redness, and cracking of skin. Some of the common symptoms
include flaky skin between the toes or small blisters on the sole of the foot.
Topical antifungal medications such as azoles and allylamines are used to clear
the infection and relieve symptoms. They work by inhibiting the growth of
fungus by interfering with the cell membrane synthesis. The growing preference
for over-the-counter ointments and creams to self-treat minor skin conditions
is fueling the demand for athlete's foot medications.
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 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.
The growing awareness about fungal skin infections and availability of topical
medication without a prescription is driving the demand for Global
Athlete's Foot Market Trends Rising health consciousness and
discretionary spending on personal care products are fueling the growth of the
market.
The market is witnessing expansion in developing regions due to improving
access to healthcare. Major players are focusing on these high growth regions
by strengthening their distribution networks and introducing affordable generic
drugs.
Market Key Trends
Growing preference for herbal and Ayurvedic formulations is one of the key
trends in the Global
Athlete's Foot Treatment Market Size And Trends Players are launching
natural active ingredient-based products with antifungal properties of
botanicals like neem, tea tree oil, turmeric etc. to cater to the demand for
chemical-free medications. Suganda, a herbal foot cream launched by Himalaya is
an example of this trend. Another notable trend is the increasing popularity of
single-day "pulse" therapy where a high dose of antifungal medication
is administered for one day to cure the infection. This on-demand therapy
offers convenience and improved compliance over conventional multiple day
treatments.
Porter's Analysis
Threat of new entrants: New companies need to invest significantly in marketing
and establishing supply chains and distribution channels to compete in this
market. Bargaining power of buyers: Buyers have moderate bargaining power due
to the availability of substitute products. Barginating power of suppliers:
Suppliers have moderate bargaining power due to minimal product differentiation
in raw materials. Threat of new substitutes: Substitute treatment options such
as local antifungal creams pose a minor threat. Competitive rivalry:
Competition is high due to the presence of many established brands.
Geographical Regions
North America accounts for the largest share in the global Athlete's Foot
market in terms of value due to the high prevalence and awareness of the
condition in the region. Rising healthcare spending also contributes to its
large market size.
The Asia Pacific region is poised to witness the fastest growth during the
forecast period due to growing medical tourism, increasing disposable incomes,
and rising awareness about skin conditions in developing countries such as
India and China. Penetration of global brands and expansion of healthcare
infrastructure further augment the market expansion.
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More Insights On, Global
Athlete's Foot Market
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