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.
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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.