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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