Ringworm infections are fungal infections caused by T rubrum, Trichophyton mentagrophytes and Epidermophyton floccosum. This dermatophyte fungus thrives in moist conditions.
The clinical characteristics of athlete’s foot include patchy, dry scaling on the foot and the presence of blisters or pustules on the feet and between the toes.
Various countries are focusing on preventing microbial and fungal diseases to reduce their healthcare costs, which is expected to drive high demand for advanced treatment options and diagnostic processes from local governments and third-party payers.
Moreover, increasing research and development activities to develop highly specific antifungal products are also expected to create new growth opportunities for the manufacturers operating in the ringworm of feet treatment market. Currently, several countries still ignore fungal treatment.
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In several low-income countries, doctors depend on antibacterial treatments and steroids for the treatment process.
Knowledge of effective treatment procedures in these countries is very low.
However, these countries have a large pool of patients and hence various companies are trying to enter these markets by offering higher quality and affordable antifungal products.
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Overview of the global ringworm of the foot treatment market
Future Market Insights in its research report on the Global Tinea Pedis Treatment Market has described a complete market scenario and presented forecast information for the Global Tinea Pedis Treatment Market for a period of 10 years.
According to Future Market Insights, the global ringworm of feet treatment market is expected to grow at a moderate rate to register a CAGR of 4.8% throughout the forecast period 2017-2027.
The estimated value of the global ringworm of feet treatment market is slightly over US$1 billion in 2017 and is expected to reach a value over US$1700 million by the end of 2027.
The growth of the global ringworm of feet treatment market can be attributed to increase in geriatric population, rising consumer inclination for maintenance of aesthetic appearance, rise in product innovation and rising per capita health expenditure.
Increase in occurrence of interdigital tinea pedis to increase demand for disease treatment in coming years
Typically, ringworm of the feet presents as interdigital spaces. The occurrence of tinea pedis interdigital is higher than other types of tinea pedis diseases.
This has led to an increased focus on treating ringworm of the foot.
The ringworm of the foot interdigital segment within the disease type category is the largest segment due to the higher prevalence of the disease.
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The interdigital tinea pedis segment is expected to grow at a CAGR of 4.5% throughout the forecast period and is expected to generate a value of over US$1.1 billion by the end of 2027.
In 2017, it was valued at less than US$750 million. This segment is expected to lead the global market by disease type.
Plantar ringworm, also known as moccasin foot, occurs on the side of the foot.
The plantar ringworm segment of the foot is expected to grow at a significant rate to reach an estimate of approximately US$320 million by the end of the assessment year.
It is the second segment in terms of value and growth rate. It is expected to register a CAGR of 5.1% during the forecast period 2017-2027.
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Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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