LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global tinea pedis treatment market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global tinea pedis treatment market for 2017-2021 provides a detailed industry analysis based on the route of administration (oral and topical), disease type (interdigital tinea pedis and vesicular tinea pedis), and geography (the Americas, EMEA, and APAC).
|Tinea pedis is caused by a dermatophyte foot fungus which thrives in warm, humid conditions and is most common among young adult men. It is a dermatophyte infection of the soles of the feet and the interdigital spaces. Technavio analysts forecast the global tinea pedis treatment market to grow to USD 994.25 million by 2021, at a CAGR of more than 3% over the forecast period.|
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The top three emerging trends driving the global tinea pedis treatment market according to Technavio healthcare and life sciences research analysts are:
- Increased funding for antifungal research
- Increased focus on combination therapies
- Advent of novel therapies
Increased funding for antifungal research
The growing cases of infectious diseases such as bacterial infection, fungal infection, and viral infection are encouraging vendors in the market to enhance their R&D efforts in this therapy area. As drug development is a cost-intensive process, various government and non-governmental institutes are providing financial assistance in the development of antifungal drugs.
“Institutions such as Generating Antibiotics Incentives Now and Qualified Infectious Disease Product are providing funding for the development of novel antifungal drugs. Such funding encourages the research institutes and companies to invest more in antifungal drug research, leading to market growth,” says Sapna Jha, a lead analyst at Technavio for infectious and rare diseases research.
Increased focus on combination therapies
A current trend in the global tinea pedis treatment market is the use of combination therapies for treating foot related fungal infections. It is observed that a combination of systemic and topical treatment increases the chances of removing the fungus when compared with single therapies.
For instance, the combination of oral terbinafine with topical terbinafine and 10% urea ointment has proven to be the most successful method of treating tinea pedis. Often, the combination of topical and systemic therapies and surgery is used in treatment. Also, non-pharmacological approaches such as laser treatment or mechanical treatment are used in combination with topical and systemic therapy.
Advent of novel therapies
The global tinea pedis treatment market lacks effective and approved drugs that can eliminate side effects related to foot fungal infections. The absence of an effective treatment for onychomycosis, a fungal infection that involves the nail matrix, nail bed, and nail plate can hinder the market. The limited availability of current therapies coupled with large patient pool can provide significant opportunities for vendors to discover new drugs for the market.
“For instance, Viamet Pharmaceuticals' VT-1161 is a novel oral agent formulated for the treatment of onychomycosis. The drug is currently in phase II and has shown high potency in in vitro studies. The approval for new drugs will overcome the side effects that limit the use of current antifungals such as terbinafine and fluconazole,” says Sapna.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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