Efinaconazole Market: Global Opportunity Analysis and Industry Forecast, 2021-2030 Market

Efinaconazole topical solution is used to treat fungal toenail infections (infections that may cause nail discoloration, splitting, or pain). Efinaconazole topical solution is in a class of medications called antifungals, which inhibit fungal lanosterol 14α-demethylase involved in biosysnthesis of ergosterol, a constituent of fungal cell membranes. This medication treats only fungal infections. It does not work for other types of infections, such as those caused by bacteria. Moreover, this medication is used to treat onychomycosis of toenails (tinea unguium and ringworm of the nail) caused by Trichophyton rubrum or T. mentagrophytes. It works by stopping growth of certain types of fungus.

Market Scope and Structure Analysis

COVID-19 Scenario Analysis

The COVID-19 outbreak has transformed the national healthcare priorities and spending, however, it is considered to have short-term impact on the onychomycosis treatment market. Increase in number of COVID-19 patients around the world have led to increased focus on treatment of these patients on priority basis reduced patient visits to hospitals for diagnosis and treatment of onychomycosis or other nail and foot related fungal infections. Reduced visits indicate lesser treatment adoption, which has been affecting the market negatively. In addition, reduced visits to healthcare facilities to avoid cross contamination, which is another factor reducing sales.  Moreover, onychomycosis generally is not given much importance as compared to other chronic diseases. Owing to reduced severity of the disease, the global efinaconazole market has experienced even lesser sales during the pandemic.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

• Prevalence of nail fungus, i.e., dermatophytic onychomycosis is increasing with rise in incidences of chronic diseases, such as diabetes mellitus, peripheral vascular diseases, and psoriasis which led to growth of the efinaconazole market.  The risk is high in patients with athlete’s foot, genetic predisposition, HIV-positive. and diabetes patients. For instance, an article published in the British Journal of Dermatology and International Journal of Dermatology shows that approximately 34% diabetic patients have onychomycosis and they are almost three times more likely to develop onychomycosis than non-diabetics. Hence, owing to these reasons, the global efinaconazole market may experience a significant amount of growth during the forecast period. Moreover, rise in inclination of consumers toward maintaining aesthetic appeal of their nails has been observed, and is one of the major factors driving the efinaconazole market.

Key Benefits of the Report

• This study presents the analytical depiction of the global efinaconazole market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Efinaconazole Market Research Report 

• Which are the leading players active in the efinaconazole market? 
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

Report Tag: Antifungals, Fungal Infections, Toenail infections

 Efinaconazole Market: Global Opportunity Analysis and Industry Forecast, 2021–2030 Report Highlights