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Athlete's foot, also known as tinea pedis, is a fungal infection of the feet that affects skin between the toes or soles of the feet. It causes scaling, itching, cracking and sometimes blistering and burning of the affected skin. Athlete's foot is quite common particularly among athletes, wrestlers, swimmers and people who use communal showers at gyms or pools. The fungus that causes athlete's foot thrives in warm, moist environments like shower floors. It is also easily spread through direct contact with infected skin or contact with contaminated surfaces. Rising participation in sports and exercise, increasing occurrences of fungal foot infections due to factors like obesity, diabetes and wearing occluded footwear are anticipated to drive the demand for athlete's foot treatments.
Key Takeaways
Key players operating in the global athlete's foot market are Perrigo Company Plc., Novartis AG, Valeant Pharmaceuticals International, GlaxoSmithKline plc, Bayer AG, Teva Pharmaceuticals Industries Ltd., Mylan NV, Glenmark Pharmaceutical Ltd, Taro Pharmaceutical Industries Ltd., Camber Pharmaceuticals Inc, Aurobindo Pharma Ltd. These players are focusing on developing newer topical and oral formulations with improved efficacy and extended patent life.
The Global Athlete’s Foot Market Demand is expected to witness several profitable growth opportunities such as rising demand for herbal and natural antifungal products, growing online sales of OTC drugs and disease incidence in developing regions of Asia Pacific and Latin America. Manufacturers are investing in R&D of novel drug delivery systems, fixed-dose combinations and therapies targeting resistant fungal strains.
Geographic expansion into emerging pharmerging markets will be a key pillar of growth strategies for major players in the global athlete's foot market. Focus on collaborations, acquisitions and partnerships with local distributors will help companies strengthen product portfolio and foothold across continents.
Market Restrains
Availability of alternative treatment options: There are various alternative treatment methods available for fungal foot infections including over-the-counter antifungal creams and natural/herbal remedies reducing complete reliance on prescription drugs.
The over-the-counter (OTC) segment dominates the global athlete’s foot market currently. This segment accounts for around 60% of the total market share currently owing to a large number of consumers opting for topical creams and sprays without prescriptions for mild to moderate conditions of athlete’s foot. Consumer preferences for readily available OTC medications without needing to consult doctors drive the growth of this segment. The prescription segment is expected to witness steady growth during the forecast period due to a rising number of people with severe infections opting for oral drugs prescribed by physicians.
North America leads the global athlete's foot market currently owing to growing awareness regarding symptoms and treatments of fungal infections. The region captures over 35% of the total market revenue. Europe is another major regional market for athlete's foot treatment. A rising number of athletes and sports activities in countries like Germany, France, and the UK contributes to the growth of this regional market. However, the Asia Pacific region is projected to witness the fastest CAGR during the forecast period. Countries like India, China, and Japan with hot and humid climates present many growth opportunities in this region. Improving access to medical services also supports the market growth in developing Asian countries.
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