Paronychia Treatment Market Share, Size, Trends, Industry Analysis Report, By Type (Acute Paronychia and Chronic Paronychia); By Product; By End User; By Region; Segment Forecast, 2023-2032
- Published Date:Oct-2023
- Pages: 118
- Format: PDF
- Report ID: PM3807
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global paronychia treatment market was valued at USD 464.60 million in 2022 and is expected to grow at a CAGR of 7.2% during the forecast period.
The drastic increase in the number of diabetic patients across the globe that might led to increased prevalence of paronychia diseases and continuously growing patient awareness regarding the availability of treatment for paronychia coupled with the rising technological advancements in the field of invasive procedures, are among the leading factors influencing the market growth.
To Understand More About this Research: Request a Free Sample Report
In addition, with the growing proliferation regarding the integration of digital health solutions such as mobile applications, remote monitoring devices, and telemedicine platforms, the demand for enhanced and effective treatment of paronychia has increased drastically over the years.
- For instance, in September 2021, Takeda Pharmaceutical Company Limited announced that the U.S. Food and Drug Administration has approved EXKIVITY for the treatment of patients with metastatic cell lung cancer. The recent approval of EXKIVITY introduces an effective treatment option for patients with the EGFR Exon20 insertion+ NSCLC.
Moreover, the rapidly growing focus of key market companies towards the development of nanostructured materials such as nanoparticles, liposomes, or hydrogels, that deliver antimicrobial agents directly to the affected area and the widespread prevalence of nanotechnology has paved the way for the development of novel treatments for paronychia, which in turn, has been one of the emerging trends in the global paronychia treatment market.
However, lack of awareness and knowledge regarding the health affect related to the condition and limited treatment options available in the market and particularly in low-income or less-developed countries, are among the major factors restraining the market growth.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the market. The rapid spread of the deadly coronavirus across the globe resulted significant disruptions in healthcare systems due to overwhelmed hospitals, redirected resources, and restrictions on non-essential medical services, which affected the diagnosis, treatment, and management of paronychia, and leading to delayed or reduced access to healthcare services.
For Specific Research Requirements, Request for a Customized Report
Industry Dynamics
Growth Drivers
Advancements in Medical Technology
The rising focus on personal grooming, nail aesthetics, and overall hygiene and the surging number of individuals increasingly conscious of maintaining healthy nails and seeking appropriate treatments to address nail infections including paronychia along with the growing availability of topical medications, oral antibiotics, antifungal agents, and surgical interventions across the globe, are among the primary factors driving the global market growth.
Furthermore, the significant technological advancements in the recent years, have led to the development of minimally invasive surgical techniques for severe or chronic cases of paronychia is also likely to create lucrative growth opportunities and push the market growth forward. As these technologies utilize specialized instruments such as endoscopes or micro-instruments, to access and treat the infected area while minimizing tissue damage and promoting faster recovery, that is positively influencing the market.
Report Segmentation
The market is primarily segmented based on type, product, end user, and region.
|
By Type |
By Product |
By End User |
By Region |
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
By Type Analysis
Acute paronychia segment accounted for the largest market share in 2022
The acute paronychia segment accounted for the largest global market share in 2022, that is mainly accelerated to the growing incidence and prevalence of paronychia of acute paronychia due to the factors like poor nail hygiene, trauma to nail or surrounding skin, and higher exposure to moisture. Additionally, the rising penetration for certain changes in lifestyle and occupational factors such as frequent exposure to water, chemicals, or irritants, that can subsequently increase the risk of developing acute paronychia, are likely to impact the segment market in a positive way.
The chronic paronychia segment is likely to exhibit a significant growth rate over the study period, mainly due to the increasing number of chronic paronychia cases among the elderly population and surging emphasis on grooming and nail aesthetics particularly in the beauty and cosmetic industry, that led to higher demand for treatments that address chronic paronychia across the globe.
Moreover, the rapid advancements in diagnostic techniques such as improved microscopy, culture methods, and polymerase chain reaction, which help aid in the accurate diagnosis of chronic paronychia and identification of the underlying pathogens, is also resulting in huge growth potential for the players providing these treatment options.
By Product Analysis
Mupirocin ointment segment held a significant market share in 2022
The mupirocin ointment segment held the majority market share in terms of revenue in 2022, which is largely accelerated to by growing product emergence as an effective antibiotic ointment that is effective against a wide range of bacteria including Staphylococcus aureus and Streptococcus pyogenes. Apart from this, mupirocin ointment is readily available in various formulations and strengths both as a generic and branded product and is also commonly prescribed by healthcare professionals in hospital formularies, thereby propelling the segment market growth at rapid pace.
The fusidic acid ointment segment is projected to grow at a significant growth rate over the next coming years, owing to its high efficacy against a broad spectrum of bacteria particularly staphylococcus aureus, which is a common cause of paronychia that makes it a preferred treatment option among healthcare professional.
By End User Analysis
Dermatology centers segment is projected to witness highest growth
The dermatology centers segment is projected to grow at the highest CAGR during the anticipated period, because of the rising adoption of minimally invasive procedures for paronychia treatment such as drainage and nail avulsion among these centers due to their efficacy, reduced recovery time, and patient preference coupled with the growing incorporation of laser therapy, photodynamic therapy, and advanced wound care, that have expanded the treatment options for paronychia in these centers.
The hospitals & clinics segment led the industry market with a substantial share in 2022, which is largely attributable to a significant increase in healthcare expenditure and the development of diagnosis techniques across both developed and developing economies. Additionally, many hospitals and clinics offer integrated healthcare services like diagnostic facilities, wound care clinics, and surgical interventions that attract patients and contribute to the growth of the hospitals and clinics segment at rapid pace.
Regional Insights
North America region dominated the global market in 2022
The North America region dominated the global market with a considerable share in 2022 and is projected to maintain its dominance throughout the study period. The regional market growth can be mainly accelerated to a significant surge in the geriatric population, growing people's knowledge of viable treatments, and the robust presence of major prominent market players in countries like US and Canada. The rapid development of advanced treatment options for paronychia including new antibiotics, antifungal agents, and topical treatments, which has expanded the range of treatment modalities available in hospitals and clinics, are likely to impact the market positively.
The Asia Pacific region is expected to emerge as the fastest growing region with healthy CAGR during the projected period, on account of the increased population base suffering from paronychia and their rising spending on the treatment of this issue and the surging prevalence of favorable government initiatives aimed at improving healthcare infrastructure and promoting awareness about nail infections.
Key Market Players & Competitive Insights
Key players in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share
Some of the major players operating in the global market include
- Allergen Plc
- Bayer AG
- Eli Lilly Company
- Fougera Pharmaceuticals Inc.
- GlaxoSmithKline Plc,
- Glenmark Generics
- Johnson & Johnson Services Inc.
- Jonakayem Pharma Formulation Pvt. Ltd.
- Merck & Co. Inc.
- Novartis AG
- Perrigo New York Inc.
- Pfizer Inc.
- Sandoz International GmbH
- Taro Pharmaceutical Industries
- Teva Pharmaceutical Industries Ltd.
Recent Developments
- In June 2022, The Food ad Drug Administration announced the approval to dabrafenib along with the combination with trametinib for the effective treatment of adult and pediatric patients. The pediatric patients are mainly suffering from adverse reactions including diarrhea, hemorrhage, paronychia, headache, and vomiting.
- In January 2023, The National Medical Products Administration of China, said that they have approved the mobocertinib for treatment of the adult patients with advanced and metastatic non-small lung cancer. The newly developed treatment technique was mostly experienced with mobocertinib including paronychia, diarrhea, rash, and decreased appetite.
Paronychia Treatment Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2023 |
USD 497.77 million |
|
Revenue forecast in 2032 |
USD 933.78 million |
|
CAGR |
7.2% from 2023 – 2032 |
|
Base year |
2022 |
|
Historical data |
2019 – 2021 |
|
Forecast period |
2023 – 2032 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2023 to 2032 |
|
Segments covered |
By Type, By Product, By End User, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
The paronychia treatment market report covering key segments are type, product, end user, and region.
Paronychia Treatment Market Size Worth $933.78 Million By 2032.
The global paronychia treatment market is expected to grow at a CAGR of 7.2% during the forecast period.
North America is leading the global market.
key driving factors in paronychia treatment market are Increasing Prevalence of Paronychia
© 2024 Polaris Market Research and Consulting. All rights reserved
