Ringworm Treatment Market - By Drug Class (Antifungals), Route of Administration (Topical, Oral), Type (Tinea Corporis, Tinea Pedis), Age Group (Below 18 Years, 18 - 35 Years), Distribution Channel (Hospital Pharmacies, Online), Forecast, (2023-2032)

Ringworm Treatment Market Size

Ringworm Treatment Market size was valued at USD 13.9 billion in 2022 and is expected to reach USD 21.3 billion by 2032, registering a CAGR of 4.1% during the forecast period. High prevalence of ringworm infections has significantly contributed to the rising demand for effective treatment options.
 

The availability of over-the-counter drugs for fungal infections coupled with rising awareness pertaining to ringworm infections & its symptoms has been instrumental in stimulating market growth. Also, public education campaigns and healthcare initiatives have sensitized individuals to recognize the early signs of ringworm, prompting them to seek timely treatment. This heightened awareness has not only improved patient outcomes but has also contributed to the overall of market expansion. Furthermore, advancements in medical research and technology have led to the development of innovative and more efficient antifungal drugs, thereby boosting the overall market size.
 

Ringworm is a fungal infection that develops on the skin's upper layer. It can occur or produce in any part of the body but majorly, it is developed on the legs and arms. Treatment for ringworm typically involves antifungal medications, that can be applied topically to the affected area or taken orally for more severe or widespread infections.
 

COVID-19 Impact

The COVID-19 pandemic had a negatively impacted on the ringworm treatment market. With the global healthcare systems overwhelmed by the virus, attention and resources were diverted towards managing the pandemic, leading to disruptions in the treatment of other conditions such as ringworm infections. Many healthcare facilities had to postpone non-urgent appointments, resulting in delayed diagnoses and treatments. Also, the pharmaceutical industry also faced challenges in terms of production and supply chain disruptions, leading to shortages of antifungal medications. However, as healthcare facilities have adapted to the new normal and embraced telemedicine solutions, virtual consultations for skin conditions like ringworm became more common, providing a potential avenue for continued treatment.
 

Ringworm Treatment Market Trends

Ringworm is a highly contagious fungal infection of the skin, scalp, & nails and affects millions of individuals across the globe. Several factors have contributed to the rise in ringworm cases, including growing urbanization, crowded living conditions, inadequate sanitation, and a rise in the number of immunocompromised individuals. The lifestyle changes such as increased participation in sports and recreational activities, have also led to a higher risk of transmission.
 

Therefore, as the incidence of ringworm continues to climb, the demand for effective and innovative treatment solutions has surged. As a result, pharmaceutical companies and healthcare providers have been investing significantly in research and development to introduce novel antifungal drugs and advanced therapies, thereby leading to a promising growth trajectory for the market.
 

Ringworm Treatment Market Restraint

The increasing drug resistance to common antifungal medications may hamper the market growth. Over time, the widespread and sometimes improper use of antifungal drugs has led to the emergence of drug-resistant strains of fungi responsible for causing ringworm infections. As these resistant strains continue to spread, traditional antifungal medications become less effective, resulting in treatment failures. This may have a negative impact on sales of certain drugs used in the treatment of ringworm infections.
 

Ringworm Treatment Market Analysis

By drug class, the ringworm treatment market is segmented into antifungals, and combination drugs. The antifungals segment dominated the market in 2022 with a business share of 77.8%. Antifungal medications play a pivotal role in eradicating the ringworm infection, alleviating symptoms, and preventing its spread. The high market share of antifungals can be attributed to the continuous development of advanced and innovative formulations that cater to diverse patient needs, along with their proven efficacy and safety profiles. Additionally, the increasing awareness among healthcare professionals and patients about the importance of timely and appropriate treatment for ringworm is expected to further fuel the demand for antifungal drugs.
 

By route of administration, the ringworm treatment market is segmented into topical, oral, and parenteral. The topical segment held highest market share of 63.4% in 2022 dominating the market. High adoption of topical creams and ointments for the treatment of ringworm infections can be attributed to the highly effective nature of topical formulations in combating ringworm infections. Also, the ease of application and user-friendly nature of topical creams have garnered widespread acceptance among both healthcare professionals and patients.
 

Moreover, the non-invasive nature and minimal side effects of topical formulations have garnered trust and confidence among patients seeking reliable relief. Additionally, continuous efforts of pharmaceutical companies to innovate and introduce novel, potent topical treatments for ringworm infections is expected to aid in high segmental revenue.
 

By type, the ringworm treatment market is segmented into tinea corporis, tinea pedis, tinea cruris, tinea capitis, tinea manuum, and other types. The tinea corporis segment was valued at USD 4.7 billion in 2022 and is anticipated to grow at a CAGR of 3.8% over the analysis timeframe. High incidence of tinea corporis can be attributed to its ease of transmission in close-contact environments causing red, itchy, and circular rashes on the skin. The growing popularity of sports and fitness activities has led to more people sharing equipment and clothing, which serves as a potential carrier of the fungus.
 

Additionally, poor hygiene practices, such as failure to regularly wash hands and clean personal items also play a role in the proliferation of tinea corporis. Lastly, factors such as immunosuppression, underlying health conditions, and improper use of topical steroids can weaken the body's defences, making individuals more susceptible to infections like tinea corporis. All these factors have contributed to rise in the number of cases of tinea corporis, thereby enhancing the overall market trends.
 

Based on age group, the ringworm treatment market is segmented into below 18 years, 18 - 35 years, 35 - 50 years, and 50 years and above. The age group of 35 - 50 years dominated the market in 2022 with a high market share of 58.2%. The high incidence of ringworm infections in the age group of 35 to 50 years can be attributed to the high exposure of these individuals to potential sources of ringworm-causing fungi, such as outdoor sports, fitness centres, and public swimming pools.
 

Also, the immune system tends to weaken with age, making this age group more susceptible to fungal infections. Certain medical conditions, such as diabetes and obesity, which are more prevalent in this age, can compromise the body's ability to defend infections. Furthermore, lifestyle factors like excessive sweating and poor hygiene practices are some of the major causes of increased risk of ringworm infection in this age group. Such aforementioned factors is expected to spur the segment expansion.
 

By distribution channel, the ringworm market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment is expected to reach USD 11.5 billion market revenue by end of 2032. Hospital pharmacies offer a one-stop solution for patients, ensuring immediate access to essential medications prescribed by healthcare professionals. Also, hospitals often benefit from bulk purchasing, enabling them to negotiate favourable pricing with pharmaceutical suppliers, which translates into cost savings for patients. Additionally, the presence of highly trained pharmacists in hospital settings ensures accurate dispensing and personalized counselling, further augmenting the hospital pharmacies in the market.
 

North America dominated the ringworm market in 2022, with a revenue of USD 6 billion and is anticipated to grow at a CAGR of 4.3% between 2023 – 2032. North America benefits from a robust healthcare infrastructure, advanced medical facilities, and a high level of awareness among the population regarding the importance of seeking timely treatment for skin conditions. Moreover, the presence of numerous pharmaceutical and biotechnology companies that have been actively engaged in developing innovative and effective treatments, further enhances regional market growth. Also, the region's proactive approach towards public health education and awareness campaigns has played a pivotal role in early diagnosis and timely treatment, further boosting its market share.
 

Ringworm Treatment Market Share

Major market players operating in the ringworm treatment market include

• Perrigo Company plc
• Novartis AG
• GlaxoSmithKline Plc
• Teva Pharmaceutical Industries Ltd.
• GLENMARK PHARMACEUTICALS LTD.
• Pfizer Inc.
• Sanofi S.A.
• Merck & Co., Inc.
• Bayer AG
• Gilead Sciences, Inc.
• Eli Lilly and Company
• and AbbVie Inc.

These industry players majorly adopt various strategies including collaborations, acquisitions, mergers, and partnerships to create a global footprint and sustain market competition.
 

Ringworm Treatment Industry News:

• In May 2022, Bayer launched the new and improved range of Canesten, their anti-fungal treatment solution in India. Canesten cream, provides relief from ringworm, jock itch, skin candidiasis, athlete's foot, erythrasma and fungal nail infection, among other fungal skin infections. This helped the company to cater to a larger customer base and increase its revenue.
   
• In May 2022, Glenmark Pharmaceuticals Ltd. launched a digital patient education tool, 'Hello Skin' in collaboration with the IADVL (Indian Association of Dermatologists, Venereologists and Leprologists), to help patients suffering from dermatophytosis in India, to adhere to the recommended treatment duration. This helped the company to reach a larger customer base and thereby increase the sales of its products.
   

The ringworm treatment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:

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By Drug Class

• Antifungals
• Combination drugs

By Route of administration

• Topical
• Oral
• Parenteral

By Type

• Tinea corporis
• Tinea pedis
• Tinea cruris
• Tinea capitis
• Tinea manuum
• Other types

By Age Group

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

By Distribution Channel

• Hospital pharmacies
• Retail pharmacies
• Online pharmacies

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA