Ringworm Treatment Market Analysis

Ringworm Treatment Market Analysis

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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.