Ringworm is a common fungal infection of skin. Tinea is the medical
term used for ringworm. The infection is caused by skin fungi called
dermatophytes. Ringworm infection can cause scaly, red, and round
patches on skin. It can also cause patches of hair loss, itching,
blisters, and scaling of scalp. The infection can affect various
areas such as skin of scalp, feet, beard, and groin. Ringworm is
highly contagious and can be transmitted through animals. The
infection can be treated successfully with certain antifungal and
over-the-counter medicines.
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The global ringworm treatment market is expected to grow at a rapid
pace. High incidence and prevalence of skin disease are the major
factors driving the global ringworm treatment market. Increase in
prevalence of bacterial and viral infections boosting R&D
activities, rise in awareness about antifungal treatment, and novel
treatment for diseases also propel the global market. Furthermore,
affection toward pets leading to transmission of disease, increase in
combination therapies, rise in health care funding, and promising
pipeline are anticipated to drive the global ringworm treatment
market during the forecast period. However, lack of awareness in some
developing countries about antifungal treatment and complication
during the regulatory approvals are the factors likely to restrain
the global ringworm treatment market during the forecast period.
The global ringworm treatment market can be segmented based on drug
class, route of administration, distribution channel, and region. In
terms of drug class, the global market can be categorized into
steroids, antifungals, anti-infectives, and others. The antifungals
segment is expected to dominate the market during the forecast period
due to specificity and effectiveness of the drugs on the infection.
Based on route of administration, the global ringworm treatment
market can be bifurcated into oral and topical. The topical segment
is expected to hold a major share of the global market during the
forecast period due to increase in sale of over-the-counter topical
medicines for treatment. In terms of distribution channel, the global
market can be divided into hospital pharmacies, drug stores,
retailers, and e-commerce.
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Geographically, the global ringworm treatment market can be segmented
into North America, Latin America, Europe, Asia Pacific, and Middle
East & Africa. North America is projected to dominate the global
ringworm treatment market in terms of revenue, followed by Europe.
Factors such as rise in incidence of skin diseases, increase in
adoption of pets in the region, growth of the health care sector, and
increase in awareness drive the ringworm treatment market in the
region. Furthermore, the prominent players are focusing on Europe to
strengthen their positions. The market in Asia Pacific is anticipated
to expand at the fastest growth rate during the forecast period due
to rise in health care expenditure, increase in geriatric population,
surge in disposable income, prevalence of chronic diseases, focus of
global pharmaceutical companies on Asia Pacific, increase in adoption
of exotic pets leading to transmission of the disease, and unhealthy
lifestyle in the rural areas.
Key players operating in the global ringworm treatment market have
adopted various strategies such as launch of products that are cost
effective and efficient, mergers and acquisitions, geographical
expansion, and strategic alliance. Prominent players in market are
Perrigo Company plc, Novartis AG, GlaxoSmithKline plc, Teva
Pharmaceuticals, Inc., Taro Pharmaceutical Industries Ltd., and
Glenmark Pharmaceuticals Inc.
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