Global Athlete’s Foot Market Size to worth $2.06 billion, Globally, by 2031 at 4.8% CAGR, says Coherent Market Insights
Burlingame, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The global Athlete’s Foot Market Size to Grow from USD 1.41 Billion in 2023 to USD 2.06 Billion by 2031, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period, as highlighted in a new report published by Coherent Market Insights. Growing awareness about health and fitness has significantly increased participation in various physical activities like sports, jogging, hiking, gym workout etc. in recent years. Engaging in such activities exposes the feet to sweaty environments which promotes the growth of fungus that causes athlete's foot. Sports gear sharing without proper disinfection can also transfer the infection. The rising number of marathon runners, gym enthusiasts, football players and other athletes has parallelly increased the prevalence of foot infections, driving higher demand for anti-fungal creams and powders in the market.
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Market Dynamics:
The Global Athlete's Foot Market is driven by rising prevalence of fungal infections especially among sports enthusiasts and physically active individuals. According to the estimates of Centers for Disease Control and Prevention (CDC), around nearly 10-13% of the world population suffer from athlete's foot at some point in their lives. Additionally, increasing awareness regarding personal hygiene and availability of various over-the-counter (OTC) treatment options are also boosting the market growth. However, self-medication and lack of awareness in under developed regions can slightly hamper the market growth.
Global Athlete’s Foot Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2023 | $1.41 billion |
| Estimated Value by 2031 | $2.06 billion |
| Growth Rate | Poised to grow at a CAGR of 4.8% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Drug Class, By Disease Indication, By Route of Administration, By Distribution Channel |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Increasing prevalence of athlete's foot • Growing awareness about hygiene and personal care • Availability of over-the-counter (OTC) medications |
| Restraints & Challenges | • Increasing product recalls • Social stigma attached to fungal infections • Easy availability of counterfeit products |
Market Trends:
Topical drugs such as creams, sprays, and powder formulations account for the largest share in the Global Athlete's Foot Market, owing to non-invasive nature and immediate relief from signs and symptoms of infection. Some of the popular topical drugs available are miconazole, clotrimazole, econazole, ketoconazole etc. Emergence of Natural and Herbal Medication In recent years, demand for natural and herbal treatment formulations for athlete's foot such as tea tree oil, calendula oil, garlic extract etc. is increasing significantly. This is attributed to rising consumer preference for products with natural ingredients and fewer side effects.
The rising adoption of online shopping is expected to boost the global athlete's foot market growth during the forecast period. With rising internet penetration and advancements in digital payments, consumers are increasingly preferring to purchase OTC drugs for minor conditions like athlete's foot through e-commerce websites and apps. This provides them with the convenience of home delivery without having to step out to a pharmacy. Key players in this market are expanding their presence on popular e-commerce platforms like Amazon to tap into this opportunity.
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Growing awareness about athlete's foot as a fungal infection that needs medical attention is another key growth driver. In the past, it was considered as a minor condition that can be ignored. However, education programs by government agencies and dermatology organizations have highlighted that it can worsen and spread if left untreated. Consumers are now more conscious about maintaining foot hygiene and seeking early treatment. Drug manufacturers are undertaking promotional activities to promote their products and treatments options available.
Key Market Takeaways:
The global athlete's foot market is anticipated to witness a CAGR of 4.8% during the forecast period 2024-2031, owing to growing health consciousness and increasing pool of sportspersons prone to such infections.
On the basis of drug class, antifungals segment is expected to hold a dominant position, accounting for over 50% market share owing to wide availability and effectiveness in treating the infection.
On the basis of disease indication, interdigital segment holds the major share due to its high prevalence rate accounting for more cases than other types. On the basis of route of administration, topical segment is expected to hold a dominant position over the forecast period due to ease of application and localized treatment.
On the basis of distribution channel, hospitals pharmacies segment holds the major share due to high patient footfall however retail pharmacies segment is expected to witness higher growth owing to increased product availability and convenience.
By region, North America is expected to hold a dominant position over the forecast period, owing to developed healthcare infrastructure, high awareness regarding foot care, and frequent cases among sportspersons in countries like US.
Key players operating in the global athlete's foot market include Perrigo Company Plc, Novartis AG, Valent Pharmaceutical International, GlaxoSmithKline plc, Bayer AG, Teva Pharmaceutical Ltd, Taro Pharmaceutical Industries Ltd., Camber Pharmaceuticals Inc., and Aurobindo Pharma Ltd. These players are focusing on new product launches and expansion strategies to gain a competitive advantage in the market.
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Market- Segmentation
By Drug Class:
- Antifungals
- Combination
By Disease Indication:
- Interdigital
- Plantar
- Vesicular
By Route of Administration:
- Topical
- Oral
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region:
North America:
- U.S.
- Canada
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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Author Bio:
Money Singh is a seasoned PR writer with over four years of experience in the market research sector. Known for her strong SEO background, she skillfully blends SEO strategies with insightful content. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (LinkedIn: https://www.linkedin.com/in/money-singh-590844163)
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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