Tinea Pedis Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The tenia pedis market was valued at USD 1,218.64 million in 2021, and it is projected to register a CAGR of 4.56% during the forecast period.

During the COVID-19 pandemic, the demand for tinea pedis treatment drugs rose due to increasing concerns about the mortality of patients with COVID-19. Bacterial and fungal comorbidities in COVID-19 lead to higher mortalities compared to COVID-19 patients without these comorbidities. For instance, according to the study published on ‘Bacterial and fungal infections in COVID-19 patients: A matter of concern’ in ‘Infection Control & Hospital Epidemiology’ in April 2020, infections caused by bacteria and fungi are common consequences of viral pneumonia, particularly in severely ill patients. They result in a higher demand for intensive care and a higher mortality rate.

The major factor attributing to the growth of the market is the increase in the prevalence of fungal infections. Mycotic diseases are global in distribution, but maximum cases are recorded from tropical and subtropical countries. As the number of patients increases, the market also grows. Furthermore, the increasing R&D programs and funding for the same are boosting the market growth.

For instance, according to the study published on ‘Fungal infections in humans: the silent crisis’ in ‘The journal of unicellular biology and human disease’ in June 2020, over 150 million serious fungal infections occur each year in the world, resulting in approximately 1.7 million fatalities. These figures are alarmingly rising due to several social and medical advances in recent decades that have aided the spread of fungal diseases. In addition to this, the rise in immunocompromised patients is also another factor that is expected to fuel the market growth.

Furthermore, the increased R&D activities for the treatment of tinea pedis have been boosted by the rise in the prevalence rate of infectious disorders caused by bacteria, viruses, and fungus, which is driving the market. Around the world, anti-microbial research is gaining traction, and many companies have already initiated R&D activities, which is further expected to boost the growth of the studied market as fungal infections are also part of anti-microbial research activities. For instance, as per the January 2021 report of the Global Anti Microbial Resistance R&D Hub, as of January 8, 2021, a total of USD 362 million has been invested in 1,047 fungal R&D projects, and the majority of this investment is provided to human-related research projects. As per the report, more funds are invested in fungal R&D projects in the human sector than in the animal sector.

Therefore, a rise in the prevalence of tinea pedis and a rise in research and development on fungal treatment, among others, are the factors expected to drive the market growth. However, the lack of awareness of the treatment and stringent approval regulations constrain the market growth.

Scope of the Report

As per the scope of the report, tinea pedis (athlete's foot) is a fungal infection that usually begins between the toes. It commonly arises in people whose feet have become very sweaty while restricted within tightfitting shoes. Tinea pedis is characterized by patchy, dry scaling on the feet, as well as blisters or pustules on the feet and between the toes. The tinea pedis treatment market is segmented by route of administration (oral and topical), distribution channel (hospital pharmacies, retail pharmacies, and e-commerce), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across the major regions globally. The report offers the value (in USD million) for the above segments.

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Key Market Trends

The Topical Segment is Expected to Hold a Significant Market Share

The major share of the segment is attributed to the advantages of the topical route of administration over other routes and advancements in the topical anti-fungal treatments, among others. These include the low risk of systemic adverse events and drug interactions, low cost, and smaller amounts of drugs used, among other factors.

According to the study published on ‘Recent advances in topical carriers of anti-fungal agents’ in ‘Heliyon’ in August 2020, because of its tailored therapy and fewer adverse effects, topical fungal therapy is frequently preferred over other routes of administration. Because of the distinct structural and functional characteristics, advanced topical carriers solve biopharmaceutical difficulties associated with traditional drug delivery vehicles, such as poor retention and low bioavailability. The rising benefits of the topical route of administration may favor the increased adoption in this segment compared to other routes of administration, thereby propelling this segment's growth.

Furthermore, according to the above source, topical nanocarriers containing anti-fungal drugs have a better therapeutic response with less toxicity. Solid-Lipid nanoparticles, Microemulsions, Liposomes, Niosomes, Microsponge, Nanogel, Nanoemulsion, Micelles, and other nanocarriers are commonly utilized for topical antifungal therapy. The rising advancements in topical anti-fungal formulations may lead to increased adoption to generate better therapeutic responses and to have a high safety profile, which is expected to drive the segment.

In September 2020, Cipla Health launched Clocip Clotrimazole Absorbent Dusting Powder and Clocip Clotrimazole Cream to treat fungal skin infections. This is further expected to drive the market growth over the forecast period due to the entry of new therapies into the market. Additionally, the Journal of Fungi's article titled 'Epidemiology and Diagnostic Perspectives of Dermatophytoses' published in November 2020, estimated that about 10 to 15% of individuals are contaminated with dermatophytes at some point in their life. The same source also reported that dermatophytoses affect about 25% of the world population.

Thus, owing to the abovementioned factors, the market segment is expected to show growth over time.

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